Financial Accounting

33) Garza Company had sales of $135,000, sales discounts of $2,000, and sales re

33) Garza Company had sales of $135,000, sales discounts of $2,000, and sales returns of $3,200. Garza Company's net sales equals: 33). A) $129,800. B) $133,000. C) $135,000. D) $…

33) Plankton Co. h complaints. The costs associated with this customer Web site

33) Plankton Co. h complaints. The costs associated with this customer Web site over the past six months are listed be as a customer Web site to take orders, answer customer quest…

33) The following statements are a) It is the first budget prepared b) The produ

33) The following statements are a) It is the first budget prepared b) The production budget determines its production c) Production Budget projects the amount of productien based…

33) What will be the effect on the contribution margin ratio if the selling pric

33) What will be the effect on the contribution margin ratio if the selling price per unit decreases and variable cost per unit remains the same? A) It will remain the same. B) It…

33) What will be the effect on the contribution margin ratio if the selling pric

33) What will be the effect on the contribution margin ratio if the selling price per unit decreases and variable cost per unit remains the same? A) It will remain the same. B) It…

33)Walters manufactures a specialty food product that can currently be sold for

33)Walters manufactures a specialty food product that can currently be sold for $21.90 per unit and has 19,900 units on hand. Alternatively, it can be further processed at a cost …

33,100 shares of Bengals Inc. common stock purchased on September 12, 2016, for

33,100 shares of Bengals Inc. common stock purchased on September 12, 2016, for $13 per share including brokerage commission. These shares were classified as available-for-sale se…

33. (1) Interviewing operating personnel, identifying the objectives of the audi

33. (1) Interviewing operating personnel, identifying the objectives of the auditee, identifying standards used to evaluate performance, and assessing the risk inherent in the aud…

33. 20.00 points value Exercise 16-12 Weighted average: Completing a process cos

33. 20.00 points value Exercise 16-12 Weighted average: Completing a process cost summary LO C3 The following partially completed process cost summary describes the July productio…

33. A CPA has been engaged to perform a review of financial statements service f

33. A CPA has been engaged to perform a review of financial statements service for a client. enenti: hk of the nature of a review service). a. The CPA must perform the basic TOC a…

33. A check involves three parties: A. The writer, the cashier, and the bank. B.

33. A check involves three parties: A. The writer, the cashier, and the bank. B. The maker, the payee, and the bank. C. The maker, the manager, and the payee. D. The bookkeeper, t…

33. Accounts receivable management. Assume there are two physician groups, Lower

33. Accounts receivable management. Assume there are two physician groups, Lower Merion Physician Group and Penncrest Medical Practice, and both groups have contracts with two maj…

33. Christiansen Corporation manufactures joint products W and X. During a recen

33. Christiansen Corporation manufactures joint products W and X. During a recent period, joint costs amounted to $350,000 in the production of 20,000 gallons of W and 60,000 gall…

33. Compute the taxable income for 2018 under each of the following circumstance

33. Compute the taxable income for 2018 under each of the following circumstances: a. Jim is married and files a joint return. Jim and his wife have two dependent children. They h…

33. Delmar Co. prepares a four-column bank reconciliation. Check No. 859 was wri

33. Delmar Co. prepares a four-column bank reconciliation. Check No. 859 was written for $85.90 on the books, but the check was written and cleared the bank for the correct amount…

33. Determining the present value of a lump-sum future cash receipt Brooks Long

33. Determining the present value of a lump-sum future cash receipt Brooks Long expects to receive a $560,000 cash benefit when she retires four years from today. Ms. Long’s emplo…

33. During Year 1, JR Company completed the transactions listed below. JR\'s fis

33. During Year 1, JR Company completed the transactions listed below. JR's fiscal year ends on December 31. Prepare journal entries to record each of the transactions. Note that …

33. Evergreen Company has two investment opportunities. Both investments cost $5

33. Evergreen Company has two investment opportunities. Both investments cost $5,000 and will provide the same total future cash inflows. The cash receipt schedule for each is giv…

33. Harrisburg Company has set the following standards for one unit of its produ

33.             Harrisburg Company has set the following standards for one unit of its product: Direct Material       $36 per unit        Quantity =  4 pounds per unit        Pric…

33. If a company buys back some of its own common stock, what would the impact o

33. If a company buys back some of its own common stock, what would the impact on the financia statements be? a. Increase in assets, decrease in stockholders' equity b. Decrease i…

33. In June of this year, Dr. and Mrs. Bret Spencer travel to Denver to attend a

33. In June of this year, Dr. and Mrs. Bret Spencer travel to Denver to attend a three day conference sponsored by the American Society of Implant Dentistry. Bret, a practicing or…

33. In an asset exchange where the exchange has commercial substance, a gain or

33. In an asset exchange where the exchange has commercial substance, a gain or loss is recognized in an amount equal to: A. The difference between the historical cost of the asse…

33. Nasir\'s records contain the following information 1. Donated stock having a

33. Nasir's records contain the following information 1. Donated stock having a fair market value of $4,000 to a qualified charitable organization. He acquired the stock five mont…

33. Orange Corp. constructed a machine at a total cost of $70 million. Construct

33. Orange Corp. constructed a machine at a total cost of $70 million. Construction was completed at the end of 2014 and the machine was placed in service at the beginning of 2015…

33. Pam recently sued the manufacturer for her medical bills ($6,000), her emoti

33. Pam recently sued the manufacturer for her medical bills ($6,000), her emotional stress (3,700), and punitive damages ($44,000). What amount must Pam include in her gross inco…

33. Samuel, Inc. has If it Accounts Receivable of $150,000 and an Allowance for

33. Samuel, Inc. has If it Accounts Receivable of $150,000 and an Allowance for Doubtful Accounts of $13,000. whites-off a customer account balance of $1,300, what is the amount o…

33. Sea Worthy makes 2 different types of custom boats, commercial fishing and s

33. Sea Worthy makes 2 different types of custom boats, commercial fishing and sail boats both for recreation and competition. The company consists of two different departments, d…

33. The ABCD partnership has four partners. Each partner’s adjusted basis in the

33. The ABCD partnership has four partners. Each partner’s adjusted basis in the partnership interest owned by that partner was $40,000 on the first day of last year. The partners…

33. The Tam Company uses the retail inventory method and the average cost flow a

33.       The Tam Company uses the retail inventory method and the average cost flow assumption for preparation of its interim reports. Information about Tam's inventory in the se…

33. The income statement for the year 2015 of Fugazi Co. contains the following

33. The income statement for the year 2015 of Fugazi Co. contains the following information: Revenues  $70,000 Expenses: Salaries and Wages Expense $45,000 Rent Expense 12,000 Adv…

33. The normal ordering of items in the income statement would be best illustrat

33. The normal ordering of items in the income statement would be best illustrated by which of the following? a. Extraordinary items, cumulative effects, income from continuing op…

33. There are severaldisadvantages to the payback method. Among them are: (a) Pa

33.       There are severaldisadvantages to the payback method. Among them are: (a)               Payback ignores the time value of money. (b)              Payback emphasizes rece…

33. Use the following information: Sheepakin Company had the following transacti

33. Use the following information: Sheepakin Company had the following transactions during 2016 Collectca $2000 for services to be performed in 2017 Sales of $4,500 on account Pai…

33. Wally\'s, Inc. announces that it intends to merge with Rayburn, Inc. The Boa

33. Wally's, Inc. announces that it intends to merge with Rayburn, Inc. The Board of Rayburn spends a week searching for other potential buyers. Finding none, they consent to the …

33. When a customer issues a promissory note to a business firm, the legal terms

33. When a customer issues a promissory note to a business firm, the legal terms used to refer to the customer and the business firm are: Customer Business firm a. Maker Payee b. …

33. Which of the following doctrines is used to impose personal liability upon s

33. Which of the following doctrines is used to impose personal liability upon shareholders for corporate obligations? a. Indoctrination of corporate shareholders b. Liability for…

33. Which of the following situations would most likely violate cost-volume-prof

33. Which of the following situations would most likely violate cost-volume-profit assumptions about fixed costs? A) When production volume increases beyond the capacity of the pl…

33. Yang Company lends Dobbs Industies $40,000 on August 1, 2017, accepting a 9-

33. Yang Company lends Dobbs Industies $40,000 on August 1, 2017, accepting a 9-mon note. (a) What is the total amount of interest that Dobbs will owe to Yang Company? (b) When Ya…

33. Yang Company lends Dobbs Industries $40,000 on August 1, 2017, acepting a 9-

33. Yang Company lends Dobbs Industries $40,000 on August 1, 2017, acepting a 9-month note (a) What is the total amount of interest that Dobbs will owe to Yang Company? (b) When Y…

33. a. Dunn Company accepted a $400,000, 90-day, 12 percent interest-bearing not

33.   a. Dunn Company accepted a $400,000, 90-day, 12 percent interest-bearing note dated September 1, 2016, from a customer for an accounts receivable balance. b. On October 1, 2…

33.) Compute the number of dependents in each of the follwoinf indpendent situat

33.) Compute the number of dependents in each of the follwoinf indpendent situations: a.) Reginald, a U.S. citizen and resident contributes 100% of the support of his parents who …

33.)Sonoma Winery has fixed costs of $12,000 per year. Its warehouse sells wine

33.)Sonoma Winery has fixed costs of $12,000 per year. Its warehouse sells wine with variable costs of 80% of its unit selling price. How much in sales does Sonoma need to break e…

33.00 points Comparative balance sheets for 2016 and 2015 and a statement of inc

33.00 points Comparative balance sheets for 2016 and 2015 and a statement of income for 2016 are given below for Metagrobolize Industries. Additional information from the accounti…

33.Hardigan Manufacturing Company reported the following year-end information: b

33.Hardigan Manufacturing Company reported the following year-end information: beginning work in process inventory, $80,000; cost of goods manufactured, $980,000; beginning finish…

334 points Many businesses borow money duing periods of increased business activ

334 points Many businesses borow money duing periods of increased business activity to finance inventory and ccounts ecevable. Target Corporation is one of America's Christmas, Ta…

334,000 Accumulated depreciation Retained earnings 50,000 19,000 Cash 230,000 Bo

334,000 Accumulated depreciation Retained earnings 50,000 19,000 Cash 230,000 Bonds payable 57,000 Accounts receivable 750,000 Plant and equipment original cost Accounts payable 4…

339 Based on this data, answer these questions: 3. Why do you think sales decrea

339 Based on this data, answer these questions: 3. Why do you think sales decreased from 2013 to 2014 and yet net profit increased? Your answer should include these main points: a…

34 of 40 (17 complete) ? 1 his Questióh: 1 pt This Test: 40 pts possi The highes

34 of 40 (17 complete) ? 1 his Questióh: 1 pt This Test: 40 pts possi The highest value of total cost was $760,000 in June for Horchata Beverages, Inc. Its lowest value of total c…

34% thereafter Would a credit line of $465,000 be sufficent to meet the companie

   34% thereafter Would a credit line of $465,000 be sufficent to meet the companies needs? Projected Income statement for Year Ending Dec 31, 2004 Projected balance sheet at Dece…

34) According to the textbook, which of the following are problems that complica

34) According to the textbook, which of the following are problems that complicate the interpretation of official data on the distribution of income? (2pts) the quintiles contain …