Financial Accounting questions and answers in September 2021

React to this statement: 1. Since the allowable depreciable life on an apartment building is 27.5 years, versus 39 years for a shopping center, an apartment complex must have substantially ...

Qualified plans use various formulas to determine required employer funding. Which of the following are examples of methods used by one or more type of plan for determining employer contributions? Fix...

Which of the following entities is permitted to establish a retirement plan under Code Section 457: I. Tax-exempt church or synagogue II. A governmental organization or agency II...

Assume an individual makes a lump sum investment at the beginning of year one of $1,432. The expected return on this investment received at the end of year 7 is $5,808. What is the IRR of the investm...

Suppose that First national bank has the following balance sheet Position & that the required reservation on deposits is 25% Reserve 60m Loan 75m Securities 20m Deposits 150 m Bank capital 5 m If ...

Assume an individual makes a lump sum investment at the beginning of year one of $1,446. The expected return on this investment received at the end of year 10 is $4,643. What is the IRR of the invest...

Smart Company provided the following information as of December 31, 2019: • Smart is the plaintiff in a lawsuit which would award damages normally set at the maximum of P1,000,000. Its legal counsel...

On January 1, 2019, Minas Company purchased a mining site in the mountains for the extraction of minerals. The site costed P12,500,000. Having no residual value, the mining site was annually depreciat...

Grafton Company is an international shipping company based in the country. For each shipping contract, a non-refundable advance of 25% is required for the performance obligations to be started. It als...

One branch of Galssy Company earned an income of P560,000 before bonus and taxes for 2020. The applicable tax rate for Galssy is 25%. • 9% of income after bonus and taxes • 7.5% of income after bo...

For the year 2020, Zellie Company started a promotional program wherein for every P100 purchase made by a customer, one point will be awarded to that customer. For every 50 points earned by a customer...

Bolitho Company is a service firm. It established a Deferred Revenue account because prepayments are required for its services. It also uses an Accrued Expense account to record billings of operating ...

Starting 2019, every sale of the main product of Amongus Company will include a three-year warranty. It estimates warranty costs to be incurred at 1% of the sales price at the first year, 2% on the se...

Ejercicio 1 Crea una tabla en MS Excel con cada una de las siguientes cuentas e indica su efecto en la ecuación contable. El 1.o de febrero de 2020, Miguel Toro estableció un negocio de alquiler de...

1. Diversification cannot reduce the portfolio risk if you invest different stocks in the same industry. Why? Explain. Diversification reduces the portfolio risk if you invest different stocks in the ...

Une entreprise désire acquérir une nouvelle machine au coût de 92 000 $. Son but est de réduire ses dépenses et d'accroître ses flux monétaires nets. Plus précisément, les flux monétaire...

selon ses taux 1 annes 3.50% 2 an 4% 3 an 4.5% 4 an 5% 5 an 5.5% 1-si on suppose que le taux d'inflation annuel moyen est de 2% pour les 10 prochaines annés comment calculer le rendement reel annuel ...

During FY 2020 Bay Manufacturing had total manufacturing costs are $434,000. Their cost of goods manufactured for the year was $469,000. The January 1, 2021 balance of Work-in-Process Inventory is $5...

In 2020, the centers for Medicare and Medicaid Services (CMS, 2020, reported that the proportion of the U.S. gross domestic product (GDP), which is the value of all goods and services produced, spent ...

Celeste transferred 100 percent of her stock in Supply Chain Company to Marketing Corporation in a Type A merger. In exchange, she received stock in Marketing with a fair market value of $685,000 plus...

Below is an extract from the strategic plan for Plan2go Grow shareholder value by 20% over 3 years. This will be achieved by · Increased revenue due to growth in sales of existing prod...

Budget Performance Report 20X1 Product TOTAL All Seasons SUMMER AUTUMN WINTER SPRING Summer Summer Summer Autumn Autumn Autumn Winter Winter Winter Spring Spring Total Sales Total Actual Variance Vari...

February March April May June TOTAL April - (Actual) (Actual) (Forecast) (Forecast) (Forecast) June $50,000 $55,000 $60,000 $60,000 $65,000 $185,000 CASH RECEIPTS BUDGET Sales $50,000 $55,000 560,000 ...

True or false? 1)An investment with an interest rate of 12% per annum (compounded semi-annually) will triple in value in approximately 18,845 semesters. True or false? 2) When a project is riskier tha...

Une obligation vient à échéance dans six ans. Sa valeur nominale est de 1 000 $, sa valeur marchande de 993,56 $, et elle rapporte des coupons semestriels de 55 $. Le taux de rendement (annuel...

Carson Trucking is considering whether to expand its regional service center in Mohab, UT. The expansion requires the expenditure of $11,000,000 on new service equipment and would generate annu...

The Situation It is time to negotiate a new contract with some of Lightning Wholesale's unionized employees. The company believes in dealing fairly with its employees. Based on the current economic e...