Questions And Answers Questions Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 0 Ans How are manufacturing inventories different from those of a merchandiser? 398 viewsDarshita asked February 6, 2020 0 Votes 0 Ans What kind of account (asset, liability, etc.) is the Allowance for Doubtful accounts? 439 viewsDarshita asked February 6, 2020 0 Votes 0 Ans Which of the two methods of accounting for uncollectible accounts provides for the recognition of the expense at the earlier date? 575 viewsDarshita asked February 6, 2020 0 Votes 0 Ans After the accounts are adjusted at the end of the fiscal year, Accounts Receivable has a balance of $475,000 and Allowance for Doubtful Accounts has a negative balance of $46,800. Describe how Accounts Receivable and Allowance for Doubtful Accounts are reported on the balance sheet 468 viewsDarshita asked February 6, 2020 0 Votes 0 Ans Give two examples of other receivables. 458 viewsDarshita asked February 6, 2020 0 Votes 1 Ans If there is a decrease in the amount of misstatement in a class of transactions that an auditor could tolerate, the auditor should perform procedures closer to the balance sheet date. Why? 7.19K viewsDarshita asked February 1, 2018 0 Votes 1 Ans Park, CPA, was engaged to audit the financial statements of Tech Co., a new client, for the yearended December 31, Year 1. 1.44K viewsDarshita asked January 23, 2018 0 Votes 1 Ans Park, CPA, was engaged to audit the financial statements of Tech Co., a new client, for the yearended December 31, Year 1. Park obtained sufficient audit evidence for all of Tech’s financialstatement items except Tech’s opening 1.40K viewsDarshita asked January 23, 2018 0 Votes 1 Ans Calla Company produces skateboards that sell for $67 per unit. The company currently has the capacity to produce 95,000 skateboards per year, but is selling 80,200 skateboards per year. Annual costs for 80,200 skateboards follow. 1.53K viewsDarshita asked January 3, 2018 0 Votes 1 Ans Nash Co. sells $461,000 of 8% bonds on March 1, 2017, The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2020 The bonds yield 12% Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to 0 decimal places, e.g. 38,548.) Schedule of Bond Discount Amortization Effective-Interest Method 1.58K viewsDarshita asked January 3, 2018 0 Votes 1 Ans Five years ago, Thomas Martin installed production machinery that had a first cost of $25,000. At that time initial yearly costs were estimated at $1,250, increasing by $500 each year 1.49K viewsDarshita asked January 3, 2018 0 Votes 1 Ans The following selected data were taken from the books of the Owens Rings Company. The company uses job costing to account for manufacturing costs. The data relate to April operations. A) Materials and supplies were requisitioned from the stores clerk as follows: Job 405, material X, $8,100. 2.36K viewsDarshita asked January 3, 2018 0 Votes 1 Ans True or false ? Under the New York Statute of Frauds parties can contract to sell real property orally. 1.33K viewsDarshita asked January 3, 2018 0 Votes 1 Ans Crane Company factors $6400000 of its accounts receivables with recourse for a finance charge of 2%. The finance company retains an amount equal to 9% of the accounts receivable for possible adjustments. 1.23K viewsDarshita asked January 3, 2018 0 Votes 1 Ans . If the seller of a parcel of real estate refuses to fulfill his obligations under a valid contract a court may or specific performance. 1.43K viewsDarshita asked January 3, 2018 0 Votes 1 Ans Following is information on two alternative investments being considered by Jolee Company. The company requires a 8% return from its investments. 1.93K viewsDarshita asked January 3, 2018 0 Votes 1 Ans A taxpayer that receives boot in a IRC §351 exchange will take a basis in the boot equal to its fair market value. (t/f) 1.61K viewsDarshita asked January 3, 2018 0 Votes 1 Ans On January 1, 2014, Doone Corporation acquired 70 percent of the outstanding voting stock of Rockne Company for $546,000 consideration. At the acquisition date, 1.42K viewsDarshita asked January 3, 2018 0 Votes 1 Ans ssume Wilson Copy Center started the year with 100 containers of ink (average cost of S9.10 each, FIFO cost of S8.60 each, LIFO cost of S8.00 eachi. During the year, Wilson Copy Center purchased 800 containers of ink at $10.00 1.33K viewsDarshita asked January 3, 2018 0 Votes 1 Ans Fields Laboratories holds a valuable patent (No. 758-6002-1A) on a precipitator that prevents certain types of air pollution. Fields does not manufacture or sell the products and processes it develops. 1.70K viewsDarshita asked January 2, 2018 « Previous 1 2 … 22 23 24 25 26 … 128 129 Next »
