Questions tagged 'Accounting'
72 questions
An activity-based costing system is developed in four steps:
An activity-based costing system is developed through four key steps. Could you please elaborate on these steps and explain how each contributes to the overall effectiveness of the costing system?
Cepeda Corporation has the following cost records for June 2017.
Cepeda Corporation has provided the following cost records for June 2017.
In a private company’s accounting system, inputs are and outputs are
In a private company’s accounting system, what are the key inputs and outputs? Specifically, can you elaborate on the types of data that are collected as inputs and the information that is generated a...
The five fundamental principles of accounting information systems are: Multiple Choice a. Control, accountability, relevance, compatibility,
What are the five fundamental principles of accounting information systems? Please select the correct answer from the following multiple-choice options: a. Control, accountability, relevance, compatib...
Dec 25, 2024
When to use GST Collected and GST Credits Received?
I’m a Year 11 student studying accounting, and I've been grasping the concepts we've covered so far. However, I'm starting to have difficulty with GST accounts. I would like to clarify when to use GST...
Butte sold a machine to a machine dealer for $50,000. butte bought the machine for $55,000 several years ago and has claimed $12,500
Butte sold a machine to a dealer for $50,000. Several years ago, Butte purchased the machine for $55,000 and has claimed $12,500 in depreciation expense on it. What is the amount and character of Butt...
Selected transactions for Sophie’s Dog Care are as follows during the month of March.
Selected transactions for Sophie’s Dog Care during the month of March are as follows: March 1: Paid monthly rent of $1,200. March 3: Performed services for $140 on account. March 5: Performed service...
Dec 21, 2024
Francisco inc. acquired 100 percent of the voting shares of beltran company on january 1, 2017. in exchange, francisco paid $788,250
Francisco Inc. acquired 100 percent of the voting shares of Beltran Company on January 1, 2017. In exchange, Francisco paid $788,250 in cash and issued 125,000 shares of its own common stock, which ha...
Samtech Manufacturing purchased land and building for $4 million. In addition to the purchase price, Samtech made the following expenditures
Samtech Manufacturing purchased land and a building for $4 million. In addition to the purchase price, Samtech incurred the following expenditures related to the acquisition of the land and building:...
Adjusted cash balances?
Leng Xiong is unable to reconcile the bank balance as of January 31. The reconciliation presented is as follows: Instructions: (a) What is the correct adjusted cash balance per bank? (b) What is the...