Financial Accounting questions and answers in January 2022

Andrea starts in business as a sole trader on 1 January 2021. He works as a landscape artist and publishes a gardening magazine. His financial year ends on 31 December. His first set of accounts will ...
 Time value of money is a basic, yet important, concept that is embedded in financial models. It is applied in a variety of situations. Here, we will examine your understanding of this concept in: (i...
PT Keren Tbk. is planning to issue an eight-year maturity IDR 500,000,000,000 bond with a 10 percent annual coupon rate and paid semi-annually. The firm's finance officer considers that 12 percent is ...
Robyn owns and manages a small business which sells organic cosmetics to high street shops and online retailers. Robyn sells to customers on credit on 30 days credit terms. (Robyn manages all aspects ...
Question 1 (5 points)                   Annapolis Clothing Company manufactures quality boating attire.  The following selected financial information for the fiscal year 2020 is provided: It...
Here are two parts to Question 1 (a and b). You are required to answer each part. (The word limit for Question 1 (a) is 300 wds .)   A) Explain the difference between financial statements prepared on...
Nelly owns a business which has a financial year end of 31 December 2021 . The table below includes the account balances of the business. Balance sheet accounts Dr Cr   £ £ Property and equipment a...
13How do you know a field is a measure when selecting from the Field List of a PivotTable? Measures are listed all together in the Field List. They are listed in bold in the field list. The are not li...
7 What can be changed in the Power Pivot Data Model? Source data. Text entries. Numeric entries. Column names. 8 When you add multiple tables to a data model, what feature provides the ability to acce...
Wildcat, Inc., has estimated sales (in millions) for the next four quarters as follows:                                 Q1                         ...
Question Two  Malik Bouman is 47 and a Netherlands national. He has been coming to South Africa on a series of freelance work contracts for a number of years. Malik has just begun a sixth contract wh...
Michael Jackson is self-employed as a CPA. He uses the cash method of accounting, and his Social Security number is 644-47-7833. His principal business code is 541211. Michael's CPA practice is loca...
Sales information for Tesla Inc. follows. Year Ended December 31 ($ thousands) 2018 2017 2016 Automotive sales $17,631,522 $8,534,752 $5,589,007 Automotive leasing 883,461 1,106,548 761,759 Total auto...
Rosa has just begun an internship at Saylor & Holmes, a large accounting firm. Her supervisor, Ms. Jones, has explained to her that she will begin by helping to analyze the financial statements fo...
Advanced Scenario 7: Gilbert and Tara Washington Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets.Answer the question...
Interview Notes Paul and Maggie are married and want to file a joint return. Maggie is a U.S.citizen and has a valid Social Security number.Paul is a resident alien and has an ITIN.They resided in the...
Advanced Scenario 5: Michael Block Interview Notes Michael is 49 years old and files as single. His 2021 adjusted gross income (AGI) is $49,500, which includes gambling winnings of $1,000. Michael wou...
On July 31, 2022, the general ledger of Sheridan Legal Services Inc. showed the following balances: Cash $4,400, Accounts Receivable $1,650, Supplies $550, Equipment $5,500, Accounts Payable $4,510, C...
Advanced Scenario 9: Richard Cook Directions Using the tax software, complete the tax return, including Form 1040 and all appropriate forms, schedules, or worksheets. Answer the questions following th...
Chapter 2 notes various problems in the use of ratios and metrics. Which one of the following is not one of those problems? Question options:     Accrual accounting conventions     "Window dressin...
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Gordon is a health care assistant living in Belfast, earning £20,000 a year after deductions for tax, National Insurance and pension contributions. He is about to move into a flat with his boyfriend ...
Question 2   Gordon is a health care assistant living in Belfast, earning £20,000 a year after deductions for tax, National Insurance and pension contributions. He is about to move into a flat with ...
Part A Anne York is a sole trader who started the business of buying and selling furniture in Brighton on the 1st of October 2021. She is going to prepare accounts to 31st of September 2021. She contr...