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01/12/2023, 22:54 Dashboard / / ACACT304A (S2 23) Audit and Assurance Student Multi-Groups (7954) / Week @ / Moodle Quiz - Internal control and control risk Co Question 1 Correct Moadle Quiz - Internal control and control risk: Attempt review My courses / Bachelor of Applied Commerce / 2023 / Year3 / S2 2023 Startedon Monday, 25 September 2023, 11:26 PM State Finished mpleted on Monday, 25 September 2023, 11:54 PM Time taken 28 mins 43 secs Grade 8.00 out of 10.00 (80%0) Mark 100 oLt of 100 The purpose of controls is to: Select one: a b. Question 2 Correct Support automated parts of a business in the functioning of the controls Detect misstotements in the financial statements Prevent misstatements in the financial statements All of these options Mark 1.00 oLt of 100 What is the best way for an auditor to obtain evidence about the controls with respect to “segregation of duties”? Select one: a. b. Re-perform the task Discuss the performance of duties within the company with the internal auditor Observe staff performing their duties Inspect documents and records to ensure an independent check has been performed https.//courses.highered.tafensw.edu.au/mod/quiz/review.php?attempt=146553&cmid=837350 114
01/12/2023, 22:54 Moadle Quiz - Internal control and control risk: Attempt review Question 3 Correct Mark 1.00 out of 100 Detect controls do NOT include: Select one: 0. Reconciliations b. Account coding v c. Management level reviews d. Performance indicators Question 4 Correct Mark 1.00 oLt of 100 What would be an appropriate sample of invoices to gain reasonable assurance that all payments dre properly authorised as part of the annual audit? Select one: a. Any of these tests would be acceptable b. Randomly choose one month and select every invoice for that month c. Select dllinvoices greater than $5,000 generated throughout the year d. Randomly select a sample of 100 invoices from throughout the year v Question 5 Incorrect Mark 0.00 out of 1.00 Which of the following would NOT require the auditor to increase the level of control testing for a particular control? Select one: 0. Alow degree of reliance s to be placed on the control to limit the amount of substantive testing required x b. Thecontrol is performed daily instead on monthly c. The risk of a material misstatement addressed by the control is very important d. There is one control relating to a particular audit objective https.//courses.highered.tafensw.edu.au/mod/quiz/review.php?attempt=146553&cmid=837350 2/4
01/12/2023, 22:54 Moadle Quiz - Internal control and control risk: Attempt review Question 6 Incorrect Mark 0.00 out of 1.00 Which of the following statements best describes the relotionship between the required understanding of the internal control structure and the preliminary audit strategy? Select one: a. Normally, greater understanding is required when the lower assessed level of control risk approach is adopted b. No understanding is required in the planning stage unless tests of controls are o planned part of the strategy c. Normally, less understanding is required when the lower assessed level of control risk approach is adopted d. Normally, greater understanding is requircd when the primarily substantive approach is adopted x Question 7 Correct Mark 1.00 oLt of 100 Inspection of physical evidence is a control test used by auditors. It: Select one: a. Isreliant of questioning skills b. Requires the auditor to re-perform the control c. Relies on testing the physical evidence v o Is subject to a limitation because employees may be more diligent when they know they are being observed Question 8 Corrcct Mark 100 oLt of 100 A major change to the accounting system takes place during the year. The effect on control testing would be that the auditor: Select one: a. Willnot conduct controls testing because the client has clearly given thought to ensuring the new system works well b. Canassume the system change was necessary and has improved the client’s controls, so should only test the period prior to the change c. Canaossume the system change was necessary and has improved the client’s controls, so should only test the period following the change d. Should ensure controls testing is performed for periods both before and after the change became effective v https.//courses.highered.tafensw.edu.au/mod/quiz/review.php?attempt=146553&cmid=837350 3/4
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01/12/2023, 22:54 Moadle Quiz - Internal control and control risk: Attempt review Question 9 Correct Mark 1.00 out of 100 Which of the following statements is correct with respect to how control risk should be documented in the audit working papers? Select one: a. Where control risk is assessed as high, only this conclusion needs to be documented D. Where control risk is assessed as less than high, the basis for this assessment must be documented c. Commonly control risk is documented in memo form arranged by financial statement ossertion d. Allof these options v Question 10 Correct Mark 1.00 oLt of 100 Which of the following would be a test of controls relating to sales? Select one: 0. Checking sales orders to ensure orders over d certain value have been authorised by the credit controller v b. Checking that the cash received in the bank account agrees with the correct sales ledger account c. Checking that the balance on the list of debtors agrees with the sales ledger control account o Checking that details on a sales invoice agree with the goods despatch note <« Week 9 Lecture Slides (Chapter 10) Jump te.. Week 10 Lecture Slides (Chapter 1) » https.//courses.highered.tafensw.edu.au/mod/quiz/review.php?attempt=146553&cmid=837350 4/4
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ATG-110-20A01: Financial Accounting (Session II Summer 2021)
7474 unread replies.7575 replies.
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TIF 12-2
Issuing Stock
1.
ETHICS Lou Hoskins and Shirley Crothers are
organizing Red Lodge Metals Unlimited Inc. to
undertake a high-risk gold mining venture in Canada.
Lou and Shirley tentatively plan to request
authorization for 400,000,000 shares of common
stock to be sold to the general public. Lou and Shirley
have decided to establish par of $0.03 per share in
order to appeal to a wide variety of potential
investors. Lou and Shirley believe…
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Proble X
P-F:2-30A. Journalizing transactions, posting journal entries to T-
accounts, and preparing a trial balance (Learning Objectives 3, 4)
15
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New
Ann Simpson started her practice as a design consultant on September 1,
2024. During the first month of operations, the business completed the
following transactions:
3. Prepare the trial balance of Vince York, M.D., as of July 31, 2024.
30
Received $48,000 cash and issued common stock to Simpson.
Purchased office supplies, $1,200, and furniture, $1,300, on account.
Performed services for a law firm and received $1,900 cash.
X
Paid $18,000 cash to acquire land to be used in operations.
Performed services for a hotel and received its promise to pay the $1,200
within one week.
Paid for the furniture purchased on September 4 on account.
Paid assistant's semimonthly salary, $1,500.
Received cash on…
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Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total
materials costs are $91000. How much is the conversion cost per unit?
O $17.52.
O $4.70.
$12.82.
O $30.33
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A process with no beginning work in process, completed and transferred out 85200 units during a period and had 50100 units in the
ending work in process inventory that were 20% complete. The equivalent units of production for the period for conversion costs were:
O 95220 equivalent units.
O 135300 equivalent units.
O 70200 equivalent units.
O 85200 equivalent units.
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Question 7 of 13 - Module One
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Module One Problem Set
Question 7 of 13
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==
Your first internship assignment is to prepare two schedules for Windsor Blue Co., a manufacturing company. You have a file that
contains a copy of last year's work for both schedules; you plan to follow the same format as last year, hoping the staff accountant had
it right. You also have access to the full set of financials for Windsor Blue, and you can dig further into any of the accounts via the
accounting system, too.
Here's the information you have pulled, with the same items as last year.
DM Inventory
WIP Inventory
FG Inventory
DM purchases
DL costs
Production supervisor salary
Utility costs in production space
Depreciation on manufacturing facility and equipment
Beginning of Year
End of year
$9,200
$10,000
21,000
13,000
6,300
8,000
153,000
232,000
56,000
14,000
42,000
វា
វា
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ACCT-1170-017-Fall 2024-Principles of Managerial Accounting
Question Completion Status:
>
QUESTION 1
Take Test: Unit 4 Homework
Relaunch to update:
Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity
base to allocate overhead:
Raw materials purchased
$ 320,000
Raw materials, beginning inventory
Raw materials, ending inventory
15,000
14,000
Work in process, beginning inventory
35,000
0
Work in process, ending inventory
37,000
Estimated overhead
300,000
Depreciation of factory building
50,000
Factory real estate taxes
Factory utility expenses
Indirect materials
7,382
45,000
20,000
Indirect labor
Direct labor cost
Direct labor hours incurred
11,000
100,000
24,000
Estimated direct labor hours
25,000
Compute the cost of goods manufactured.
ہے
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Quick ratio
Adieu Company reported the following current assets and current liabilities for two recent years:
Dec. 31, 20Y4 Dec. 31, 20Y3
Cash
$830
$1,090
Temporary investments
1,200
1,500
Accounts receivable
820
910
Inventory
2,100
2,500
Accounts payable
1,900
2,500
a. Compute the quick ratio on December 31 for each year. Round to one decimal place.
20Υ4
20Υ3
Quick Ratio
b. Is the quick ratio improving or declining?
Check My Work
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OA. $18,200
OB. $18,800
OC. $17,500
O D. $20,300
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Buddy Company uses the allowance method to account for uncollectible receivables. At the beginning of the year,
Allowance for Bad Debts had a credit balance of $800. During the year Buddy wrote off uncollectible receivables of
$2,100. Buddy recorded Bad Debts Expense of $2,800. Buddy's year-end balance in Allowance for Bad Debts is
$1,500. Buddy's ending balance of Accounts Receivable is $20,300. Compute the net realizable value of Accounts
Receivable at year-end.
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The adjustment of overapplied manufacturing overhead cost results in all the following, EXCEPT:
O a. decrease in net operating income.
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O b. increase in net operating income.
out of
Oc.
decrease in cost of goods sold
O d. none of the given answers
stion
XYZ Company had the following information for the year:
red
Direct materials used
OMR 110,000
dout of
Direct labor incurred (5,000 hours)
OMR 150,000
Actual manufacturing overhead incurred
OMR 166,000
on
The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventc
an ending Work in Process Inventory balance of OMR 17,000. What was cost…
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Exercise 1-14 (Part Level Submission)
g 2021
Cheyenne Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2019.
Revenues during 2019-camping fees
$190,400
Notes payable
$81,600
1-4
Revenues during 2019-general store
63,920
Expenses during 2019
204,000
1-5
1-6
Accounts payable
14,960
Supplies on hand
3,400
Cash on hand
27,200
Common stock
27,200
Original cost of equipment
143,480
Retained earnings
?
1-8
e1-9
e 1-11
w14
v 1-5
Fair value of equipment
190,400
v (a)
Your answer is correct.
Determine Cheyenne Corp.'s net income for 2019.
11
14 (Part
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Cheyenne Corp.'s net income
50320
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Exercise 9-12 a-b (Part Level Submission)
Oriole Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at
December 31.
Nov. 1
Loaned $23,50Chcash to Manny Lopez on a 12-month, 12% note.
Dec. 11
Sold goods to Ralph Kremer, Inc., receiving a $61,200, 90-day, 10% note.
16
Received a $97,200, 180 day, 8% note in exchange for Joe Fernetti's outstanding accounts receivable.
31
Accrued interest revenue on all notes receivable.
(a)
Your answer is correct.
lournalize the transactions for Oriole Supply Co. (Ignore entries for cost of goods sold.) (Credit account titles are…
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General Accounting I 2020-2021 Fall Term Final Exam (page 18 of 25)-Google Chrome
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1807 ŞB: 1 ÖRGÜN General Accounting I İktisadi ve Idari Bilimler Fakültesi İktisa
8
A credit sale of $3,600 is made on July 15, terms 2/10, n/30, on which a return of $200 is granted on July 18. What amount is received as payment in full on July 247
Tanmadi
O a. $3.332
izerinden
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O d. $3,400
Önceki sayfa
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25
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6-Dyson Manufacturing Company had the following financial statement results for last year. Net
sales were $1.2 million with net income of $90,000. Total assets at year-end amounted to
$900,000.
a. Calculate Dyson's asset turnover ratio and its profit margin.
b. What is Dyson's rate of return on assets.
7-Marriot Corporation has two bond issues outstanding, each with a par value of $1,000.
Information about each is listed below. Suppose market interest rates rise 2 percentage point
across the yield curve. What will be the change in price for each of the bonds? Does this tell us
anything about the relationship between coupon rate and interest rate risk?
Bond A: 10 years to maturity, 0 percent coupon, market interest rate is 10 percent.
Bond B: 10 years to maturity, 10 percent coupon, market interest rate is 10…
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What are the future value and the interest earned if $4000 is invested for 3 years at 8% compounded quarterly? (Round your answers to the nearest cent.)
future value
24
interest earned
%24
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s/ CE167-0 2202 (DeWitt)/ Week 6: Menu Prices
Week 6: Culmination Knowledge Check
Chef Amy does beginning inventory on Thursday night and finds that she has $4194 in food products in the restaurant. Throughout the week
she purchases:
• $2088 produce,
• $1678 protein,
• $870 dry goods, and
• $3914 dairy.
The following Thursday she does ending inventory and finds that she has $3464 in food. She looks at her sales and finds that she made
$30541 over the same 7 day period. What is her total food cost?
Select one:
a. $12,744
K b. $16,208
c. $8,550
d. $9,280
Chef Fabio does beginning inventory on Thursday night and finds that he has $1456 in food products in the restaurant,. Throughout the week he
ered
purchases:
1.00
• $457 produce,
• $632…
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Florist Grump, Inc., had beginning retained earnings of $137,000. During the year, Florist Grump had net income of $63,000 and declared
and paid dividends of $18,000. What will be shown for ending retained earnings on Florist Grump's year-end balance sheet?
QUESTION 9
For the year ended December 31, Year 2
For the year ended December 31, Year 1
Revenues
$ 7,500
$ 500
Expenses
1,500
Net Income
December 31, Year 2
December 31, Year 1
Assets
$ 16,500
$ 1,000
500
Liabilities
Stock
300
300
Retained Earnings
1.$
200
Assume Year1 is the company's first year of business and there were $100 dividends in Year 1 and $100 dividends in Year 2. After
determining the missing amounts ($
Earnings 1.$
in the above…
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Perform a categorical analysis on the majors of students enrolled in the MBA. Describe your findings.
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els B: Lesson 1 - Salary
Target due: 1/14/21 58.33%
$344.75
$700
2) Choose the best answer.
Caleb has a job that pays $11.15 per hour for a 40-hour work week. He is paid time
and a half for every hour over 40 that he works in a week. What will his gross pay be
for a week in which he works 46 hours?
NTT
$546.35
$446
$512.90
$256.45
$769.35
O O O
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Case Study # 4 Excel Submission – Capital Budgeting Comprehensive Problem
Pinnacle Custom Home Builders purchased a 40 foot articulating boom lift three years ago for
$50,000. The equipment has been depreciated under the 5-year MACRS schedule (20%, 32%,
19%, 12%, 12% & 5%). The old equipment can be sold for $33,000.
Pinnacle is considering the purchase of a new 60 foot articulating boom lift that would allow
the company to complete nearly all of its construction projects without the need for costly rental
lifts. The new lift could be purchased for $105,000 and would also fall under the 5-year MACRS
depreciation schedule.
Assume the old and new equipment would provide the following operating gains (or losses)
over the next six years.…
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FABM1 21-22 WEEK 4 TASK
Learning Competency
• The learners shall be able to illustrate the accounting equation (ABM_FABM11-llb-c-8);
Perform operations involving simple cases with the use of the accounting equation (ABM_FABM11-Illb-c-9)
S.Y. 2021-2022
ARISTOTLE
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WEEK 4- LEARNING TASK 3 PAGE 21
Learning Task 3: The following transactions were made during the first month of a single
proprietor's business operation.
1. Mr. Y started a grocery store. He invested P 200,00 as initial investment.
2. He registered his business paying P 1,500 for registration.
3. He paid P 20,000 for store rent applicable for one year.
4. He incurred and paid P25,000 for the repair of the grocery store.
5. He purchased merchandise for sale amounting to P 300,000, paying P
200,000 with the balance to be paid after 60 days.
6. He paid P2,000 for the transportation of the merchandise purchased.
7. He hired a saleslady for a contract of P 5,000 per month salary.
8. He sold P100,000 worth…
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Question 6
The graph of the function
y = f(x - 39)
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y = f(x)
by one of the following actions:
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Oshifting the graph of f(x) to the right 39 units
shifting the graph of f(x) to the left 39 units
shifting the graph of f(x) upwards 39 units
shifting the graph of f(x) downwards 39 units
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Which of the following is in accordance with generally accepted accounting principles?
Accrual-basis accounting
Cash-basis accounting
Both accrual-basis and cash-basis accounting
Neither accrual-basis nor cash-basis accounting
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- 10:04 Assignment Details ATG-110-20A01: Financial Accounting (Session II Summer 2021) 7474 unread replies.7575 replies. Please read and respond to TIF 12-2 on page 623. Review the rubric to ensure you receive full points for this discussion. Discussion Rubric- 25 points(1)_(3).docx *After you have posted your answers, please reply to three other students' posts. This discussion board was set up so that you will not be able to see others replies until you post your own. Search entries or author Filter replies by unreadUnread Collapse replies TIF 12-2 Issuing Stock 1. ETHICS Lou Hoskins and Shirley Crothers are organizing Red Lodge Metals Unlimited Inc. to undertake a high-risk gold mining venture in Canada. Lou and Shirley tentatively plan to request authorization for 400,000,000 shares of common stock to be sold to the general public. Lou and Shirley have decided to establish par of $0.03 per share in order to appeal to a wide variety of potential investors. Lou and Shirley believe…arrow_forwardPears X P W Chapter: Recording Business TraNSACTIONS Sep. 1 hed:course:7710589/products/79c3fa4c-a84f-42ba-b87a-e36a400bca00/pages/urn:pe 6 7 Proble X P-F:2-30A. Journalizing transactions, posting journal entries to T- accounts, and preparing a trial balance (Learning Objectives 3, 4) 15 G New Ann Simpson started her practice as a design consultant on September 1, 2024. During the first month of operations, the business completed the following transactions: 3. Prepare the trial balance of Vince York, M.D., as of July 31, 2024. 30 Received $48,000 cash and issued common stock to Simpson. Purchased office supplies, $1,200, and furniture, $1,300, on account. Performed services for a law firm and received $1,900 cash. X Paid $18,000 cash to acquire land to be used in operations. Performed services for a hotel and received its promise to pay the $1,200 within one week. Paid for the furniture purchased on September 4 on account. Paid assistant's semimonthly salary, $1,500. Received cash on…arrow_forward+V My Questions | bartleby b References Chapter 3 Quiz Camden County College camdenccinstructure.com/courses/3788/assignments/35967?module_item id=88693| Next> K Prev Send to Gradebook Submitted to Gradebook, Fri, Oct 4, 2019, 9:34:35 AM (America/New York -04:00) --/1 Question 15 View Policies Current Attempt in Progress Concord Industries has equivalent units of 7100 for materials and for conversion costs. Total manufacturing costs are $124370. Total materials costs are $91000. How much is the conversion cost per unit? O $17.52. O $4.70. $12.82. O $30.33 eTextbook and Media Submit Answer Save for Later Attempts: 0 of 1 used 11:10 A 10/4/20 hp ins prt sc end home f12 11 DI delete f9 f8 f7 f6 fs 10 + & % num backspace 6 7 lock 5 { P T U Y II 96arrow_forward
- My Questions | bartleby b + Camden County College References Chapter 3 Quiz Ha X //camdenccinstructure.com/courses/3788/assignments/35967?module item id=88693 Next> Send to Gradebook < Prev Submitted to Gradebook, Fri, Oct 4, 2019, 9:34:35 AM (America/New York -04:00) Question 19 -/1 View Policies Current Attempt in Progress A process with no beginning work in process, completed and transferred out 85200 units during a period and had 50100 units in the ending work in process inventory that were 20% complete. The equivalent units of production for the period for conversion costs were: O 95220 equivalent units. O 135300 equivalent units. O 70200 equivalent units. O 85200 equivalent units. eTextbook and Media Attempts: 0 of 1 used Submit Answer Save for Later 11:21 AM 10/4/2019 hp ins prt sc 12 end 11 home f10 delete fg f8 f5 f4 II & num backspace 6 5 lock } { P T U Y home + 96arrow_forwardQuestion 7 of 13 - Module One + education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=0db9e60e-b27b-40f9-b0bf-0c88ee4c36ba#/question/6 Module One Problem Set Question 7 of 13 -/4 == Your first internship assignment is to prepare two schedules for Windsor Blue Co., a manufacturing company. You have a file that contains a copy of last year's work for both schedules; you plan to follow the same format as last year, hoping the staff accountant had it right. You also have access to the full set of financials for Windsor Blue, and you can dig further into any of the accounts via the accounting system, too. Here's the information you have pulled, with the same items as last year. DM Inventory WIP Inventory FG Inventory DM purchases DL costs Production supervisor salary Utility costs in production space Depreciation on manufacturing facility and equipment Beginning of Year End of year $9,200 $10,000 21,000 13,000 6,300 8,000 153,000 232,000 56,000 14,000 42,000 វា វាarrow_forward> A Blackboard Learn A My Grades - ACCT-1170-017-F X | + 1 U CA k 个 N = X myCT ctccs.blackboard.com/ultra/courses/_209880_1/cl/outline Λ P* ACCT-1170-017-Fall 2024-Principles of Managerial Accounting Question Completion Status: > QUESTION 1 Take Test: Unit 4 Homework Relaunch to update: Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity base to allocate overhead: Raw materials purchased $ 320,000 Raw materials, beginning inventory Raw materials, ending inventory 15,000 14,000 Work in process, beginning inventory 35,000 0 Work in process, ending inventory 37,000 Estimated overhead 300,000 Depreciation of factory building 50,000 Factory real estate taxes Factory utility expenses Indirect materials 7,382 45,000 20,000 Indirect labor Direct labor cost Direct labor hours incurred 11,000 100,000 24,000 Estimated direct labor hours 25,000 Compute the cost of goods manufactured. ہے Click Save and Submit to save and submit. Click Save All…arrow_forward
- lem Set: Modx * CengageNOWv2 | Onl X * Cengage Learning B Milestone Two Guideli x G module ow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=.. eBook Show Me How Quick ratio Adieu Company reported the following current assets and current liabilities for two recent years: Dec. 31, 20Y4 Dec. 31, 20Y3 Cash $830 $1,090 Temporary investments 1,200 1,500 Accounts receivable 820 910 Inventory 2,100 2,500 Accounts payable 1,900 2,500 a. Compute the quick ratio on December 31 for each year. Round to one decimal place. 20Υ4 20Υ3 Quick Ratio b. Is the quick ratio improving or declining? Check My Work 56°F Mostly 39arrow_forwardccounting | Spring 2023 uiz Course Home - kar X K Chapter 9 Quiz OA. $18,200 OB. $18,800 OC. $17,500 O D. $20,300 mylab.pearson.com Question 5 of 10 X G At year-end, Snow 0 4 kara harper 04/09/23 10:36 AM This quiz: 10 point(s) possible This question: 1 point(s) possible ? Submit quiz Buddy Company uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for Bad Debts had a credit balance of $800. During the year Buddy wrote off uncollectible receivables of $2,100. Buddy recorded Bad Debts Expense of $2,800. Buddy's year-end balance in Allowance for Bad Debts is $1,500. Buddy's ending balance of Accounts Receivable is $20,300. Compute the net realizable value of Accounts Receivable at year-end.arrow_forwardKINDLY ANSWER THE TRUE OR FALSE PART NUMBER 4 AND 5. THANK YOU!arrow_forward
- mp?attempt=1764992&cmid%3875183&page=D12 الم صيرة بلحه u io a https://alternativet 4 SQUCOFFEE - Goog. B BCOM2911-Busines.. O Sultan Caboos Univ. O Trading Platfom ACADEMIC) E-LEARNING SERVICES SQU LIBRARIES SQU PORTAL ATTENDANCE lanagerial Accounting - Spring21 e / My courses / ACCT2121 yasserg Spring21/ Midterm Exam One / Midterm Exam One stion The adjustment of overapplied manufacturing overhead cost results in all the following, EXCEPT: O a. decrease in net operating income. ed O b. increase in net operating income. out of Oc. decrease in cost of goods sold O d. none of the given answers stion XYZ Company had the following information for the year: red Direct materials used OMR 110,000 dout of Direct labor incurred (5,000 hours) OMR 150,000 Actual manufacturing overhead incurred OMR 166,000 on The Company used a predetermined overhead rate of OMR 30 per direct labor hour for the year. Assume the only inventc an ending Work in Process Inventory balance of OMR 17,000. What was cost…arrow_forwardLive Class Wed January 27, 2021 x 9 Dashboard x + - edugen.wileyplus.com/edugen/student/mainfr.uni en Assignment + * 引 CALCULATOR FULL SCREEN PRINTER VERSION 4 ВАСK NEX OURCES Exercise 1-14 (Part Level Submission) g 2021 Cheyenne Corp., a public camping ground near the Four Corners National Recreation Area, has compiled the following financial information as of December 31, 2019. Revenues during 2019-camping fees $190,400 Notes payable $81,600 1-4 Revenues during 2019-general store 63,920 Expenses during 2019 204,000 1-5 1-6 Accounts payable 14,960 Supplies on hand 3,400 Cash on hand 27,200 Common stock 27,200 Original cost of equipment 143,480 Retained earnings ? 1-8 e1-9 e 1-11 w14 v 1-5 Fair value of equipment 190,400 v (a) Your answer is correct. Determine Cheyenne Corp.'s net income for 2019. 11 14 (Part mission) Cheyenne Corp.'s net income 50320 -4A (Part mission) SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER re Eults by Study LINK TO TEXT VIDEO: SIMILAR EXERCISE Attempts: 1 of…arrow_forwardBookmarks Window Help Fri Apr 30 7:38 PM edugen.wileyplus.com W WileyPLUS Bb Upload Assignment: Exercise16b - 2021 Spring Term (1)... Return to Blackboard Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help | System Announcements CALCULATOR PRINTER VERSION 4 ВАСK NEXT Exercise 9-12 a-b (Part Level Submission) Oriole Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $23,50Chcash to Manny Lopez on a 12-month, 12% note. Dec. 11 Sold goods to Ralph Kremer, Inc., receiving a $61,200, 90-day, 10% note. 16 Received a $97,200, 180 day, 8% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable. (a) Your answer is correct. lournalize the transactions for Oriole Supply Co. (Ignore entries for cost of goods sold.) (Credit account titles are…arrow_forward
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