Questions tagged 'Accounting'
72 questions
Kolander company has the following accounts and balances at the end of the year: long term notes payable $56,000 accounts receivable
Kolander Company has the following accounts and their respective balances at the end of the year: Long-term notes payable: $56,000 Accounts receivable: $31,000 Accounts payable: $38,000 Buildin...
Andrea is an accountant who lives in the state of Texas. Which tax is she exempt from?
Andrea is an accountant residing in Texas. Which specific tax exemptions apply to her situation?
Nov 01, 2024
On january 1 of 2015, parson freight company issues 7%, 10-year bonds with a par value of $2,000,000. the bonds pay interest semi-annually.
On January 1, 2015, Parson Freight Company issued 7% bonds with a par value of $2,000,000 and a maturity period of 10 years. These bonds pay interest semi-annually. At the time of issuance, the market...
Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory, April 1$32,400
Mustang Corporation has accumulated the following accounting data for the month of April: Finished goods inventory as of April 1: $32,400 Finished goods inventory as of April 30: $26,400 Total co...
Is Revenue a Credit balance or a Debit balance?
Is revenue considered a credit balance or a debit balance in accounting? Furthermore, what is meant by "normal balance" in this context?
is deferred gain an asset or liability?
"Can someone clarify whether a deferred gain is classified as an asset or a liability on the financial statements? I’m trying to understand its proper accounting treatment and how it should be recorde...
The data given below are from the accounting records of the kuhn corporation: net income (accrual basis) $ 65,000 depreciation expense
The following data are extracted from the accounting records of the Kuhn Corporation: Net income (accrual basis): $65,000 Depreciation expense: $19,000 Decrease in accounts payable: $3,500 Decrea...
Oct 20, 2024
A. economic resources to be used or turned into cash within one year. b. reports assets, liabilities, and stockholders’ equity. c.
A. Economic resources that are expected to be used or converted into cash within one year. B. A report that outlines assets, liabilities, and stockholders’ equity. C. A transaction that decreases asse...
Process costing is most likely used in which of the following industries?
In which of the following industries is process costing most likely utilized? A. Aircraft B. Chemicals C. Construction D. Printing In a process costing system with multiple processes...
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. Direct materials
Dazzle, Inc. produces beads for jewelry making. Below is a summary of the production operations for June: Direct materials used: $90,000 Direct labor used: $163,000 Predetermined overhead rate (based...