Simple Accounting Question MCQ Suppose the following original and revised information is available regarding a piece of equipment: Original information at January 1, 20X1: January 1, 20X1 Equipment cost $63,000 Estimated life at January 1, 20X1 A years Estimated salvage value $3,000 Double declining balance (DDB) depreciation method using the half-year convention is used. Revised […]
Tag Archives: Depreciation
Why do companies use the allowance method to account for bad debts?
Assignment Question(s): (Marks15) Q1. Suppose you are an auditor who has been tasked with looking into the internal controls at a company. How can you evaluate the company’s internal controls to see if they are sufficient? (5Marks) Q2. Why do companies use the allowance method to account for bad debts? Describe the diverse methods used […]
Explain the uses of activity-based costing in the service industries.
Management Accounting – Activity based Costing Question XYZ Ltd. currently make and sells four products. They provide you with their details and relevant information for one period in the following table. As you have recently just learnt about activity-based costing (ABC) you decide to experiment by applying the principles of ABC to the four products. […]
What is the par value per share of each company’s stock? How many shares were outstanding as of the most recent balance sheet date? Does either company show a balance for treasury stock? Where did you look to answer these questions?
Instructions: Meet with your group and answer the questions below. Use the audited financial statements and notes as your primary source documents. Show your work for any calculations. Be sure to check each other’s work and proofread. 1. Revise questions 1 – 16 2. Answer questions 17 – 20 below. Questions 17 – 20: 17. […]
what amount of replacement reserves should you target for year-end?
Healthcare Finance Calculating Key Budget Items In MS Excel, calculate the following 2 key budget figures based on the available data: You are reviewing your targets for short-term cash reserves next year. You wish to carry at least twenty days cash on hand. If annual budgeted cash expenses are $48,000,000, what amount of short-term cash […]
