475 Answered Questions for the topic Financial Accounting

Financial Accounting Finance Corporate Training

09/17/22

Which one of the following is an unintended result of the Sarbanes-Oxley Act?
a. More detailed and accurate financial reportingb.Increased management awareness of internal controlsc. Corporations delisting from major exchangesd. Increased responsibility for corporate... more
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Financial Accounting

09/02/22

Could anyone explain this Accounting Problem?
If a company fails to make the year-end adjusting entry to record supplies expense for the year, would the net income be understated, the total assets and liabilities be overstated, or will the... more
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Financial Accounting Business Managerial Accounting

08/27/22

Contribution Format Income Statement
How do I find the fixed selling and administrative expenses when filling in a contribution income statement? I know the actual selling and administrative expenses which are both $24,000.Sales:... more
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Financial Accounting

07/24/22

Accounting for Partnership
I'm doing Accounting for Partnerships. I am wondering if the current account of a partner affects the net profit? If so, how does a increase or decrease in a current account affect the net profit?
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Financial Accounting Business Finance Managerial Accounting

07/17/22

Find the Gain/Loss on options on expiry

On 20 June, you bought two contracts of call option for euro with a strike price of $ 14000 at a premium of $ 0.07. The spot rate was $ 14500 per euro then. The option expires in six months time in... more
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Financial Accounting Business Finance Managerial Accounting

07/17/22

Cost per unit using Activity Based Costing method

BOS Ltd. manufacturers of computer games, toys and software for kids. It produces two types of toys Speed car & Double speed car. The direct material costs amounts to Rs.20 for Speed car and... more
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Financial Accounting

07/02/22

Bank Reconciliation
I need help doing bank reconciliation to find variances.Thank you
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Financial Accounting

06/25/22

You are to enter up the necessary accounts for the month of May 2007 from the following details, and then balance off the accounts and extract a trial balance as at 31 May 2007. 
You are to enter up the necessary accounts for the month of May 2007 from the following details, and then balance off the accounts and extract a trial balance as at 31 May 2007. 2007 May  1 Started... more
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Financial Accounting

06/25/22

financial accounting
You are to enter the necessary accounts for the month of May 2007 from the following details, and then balance off the accounts and extract a trial balance as at 31 May 2007. 2007 May  1 Started... more
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Financial Accounting Math Finance

06/17/22

3 colleagues went on a business trip. How to divide the expenses?
Hi,Please help me to solve this.3 colleagues went on a business tripGeorge Paid: $557+785 total $1342 for breakfast and dinner.Arthur Paid: $500 for Lunch for all three.Scott paid: $250 for High... more
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Financial Accounting Math Business Finance

06/15/22

Identify any consequences (direct or indirect) to others when you make money from stocks or mutual funds?
Are there any consequences (direct or indirect) to others when you make money from stocks or mutual funds? Identify other individuals or groups that may be affecteda) from a financial standpointb)... more
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Financial Accounting Math Business Finance

06/15/22

Identify any consequences (direct or indirect) to others when you use or benefit financially from owning a credit card?

Identify any consequences (direct or indirect) to others when you use or benefit financially from owning a credit card? Identify two other individuals or groups and explain how/why for each.Please... more
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Financial Accounting Math Business Finance

06/15/22

Are there any consequences (direct or indirect) to others when you make money from stocks or mutual funds?
Are there any consequences (direct or indirect) to others when you make money from stocks or mutual funds? Identify other individuals or groups that may be affecteda) from a financial standpointb)... more
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Financial Accounting Math Business Finance

06/15/22

Are there any consequences (direct or indirect) to others when you use or benefit financially from owning a credit card?

Are there any consequences (direct or indirect) to others when you use or benefit financially from owning a credit card? Identify two other individuals or groups and explain how/why for each.Please... more
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Financial Accounting Math Tax Accounting

06/14/22

Please Help!!! I am clueless about how to work this problem out!
A certain retailer increases wholesale prices by 36%. If this retailer offers a 5% discount off the ticket price, what percent profit will the retailer realize?The realized profit is the amount of... more
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Financial Accounting

06/08/22

Mar, cashier of ABC Department store
Mar, cashier of ABC Department store is given a 15% discount on a cash purchase. How much will her discount be if she buys 2 dresses at P180 each and one pair of shoes costing P650?a. P150.50 b.... more
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Financial Accounting

05/28/22

Chik Chik Company showed ($________) as total credits on its trial balance.
Chik Chik Company showed the following balances at the end of its first year: Chik Chik Company AccountsItemAmount Cash $6,000 Prepaid insurance 9,400 Accounts receivable 7,000 Accounts... more
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Financial Accounting

05/25/22

Prepare journal entries to record basic business transaction and determine the balances of accounts using the t-account. Determine SFP using repost form.
Evelyn Tria, Attorney-at-Law, opened her office on September 01, 2016. The following transactions were completed during the month:a. Deposited 210,000.00 in the bank in the name of the businessb.... more
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Financial Accounting

05/19/22

What are the reconciling items under both of these methods?
I am working in a distributor company where they calculate closing capital by two methods. First is Total Assets- Liabilities = Closing capital. Second is opening capital+ profit/ (loss) for the... more
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Financial Accounting Banking

05/19/22

how do i make 200 dollers in less than 2 days with 0 dollers
i need help, i lied to someone saying I have 200 dollars when I actually don't cause I owe them and I need to pay in less than 2 days plz help I really don't know what to do everything on youtube... more
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Financial Accounting Math Finance Managerial Accounting

04/15/22

Financial, Investing, and Operating Activities
This Information will be used for all questions: Selected Balance Sheet Information   Year 2020   Year 2021 Cash            40,000  ?  Accounts... more
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Financial Accounting

04/14/22

Under the percentage of completion method
Under the percentage of completion method, $400 of profit has been recognized in prior years on a project with a contract price of $5,000. Total costs incurred to date is $3,000. Estimated costs... more
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Financial Accounting Math

04/09/22

Zero Interest Bearing Note
On January 1, 2022 Hideki Matsuyama provides services in exchange for a $10,000 zero-interest bearing note due in 4 years. The effective interest rate for a note of this type is 15 percent. What... more
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Financial Accounting Math

04/09/22

Intermediate Financial Accounting Question
On January 1, 2022 Hideki Matsuyama provides services in exchange for a $10,000 zero-interest bearing note due in 4 years. The effective interest rate for a note of this type is 15 percent. How... more
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Financial Accounting

04/04/22

Financial Accounting

Mohr Company purchases a machine at the beginning of the year at a cost of $26,000. The machine is depreciated using the units-of-production method. The company estimates it will use the machine... more
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