Accounting Homework Answers & Questions

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  • Answered Strayer acc565 week 11 final exam

    Question 1Parent and Subsidiary Corporations have filed calendar-year consolidated tax returns for several years. Parent Corporation uses the cash method of accounting while Subsidiary Corporation uses the accrual method of accounting. If Parent lends Subsidiary money,Answerthe interest expense is d...

  • Answered Strayer ACC565 midterm exam 2015

    Question 1When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock, the tax advisor is faced withAnswera restricted-fact situation.a closed-fact situation.an open-fact situation.a recognized-fact situation.Question 2During the course of an audit,...

  • Answered Strayer ACC564 week 3 quiz 1

    Instructions: This quiz consists of 20 multiple choice questions and covers the material in Chapters 1 through 3 and 5. There are five questions from each chapter. The questions are in chapter order Question 14 out of 4 pointsWhich of the following is a primary activity in the value chain?A) infrast...

  • Answered Strayer Acc560 Week 8 Quiz Ch 11 (2015 )

    QuestionMultiple Choice Question 129Dillon has a standard of 1.5 pounds of materials per unit, at $6 per pound. In producing 2,000 units, Dillon used 3,100 pounds of materials at a total cost of $18,135. Dillon's materials price variance is$1,050 F.$135 U.$465 F.$600 F.Multiple Choice Question 81Sco...

  • Answered Strayer ACC557 week 4 quiz

    1. A correcting entryA). is another name for a closing entry.B). may involve any combination of accounts.C). is a required step in the accounting cycle.D). must involve one balance sheet account and one income statement account2. A double rule applied to accounts in the ledger during the closing pro...

  • Answered Strayer ACC499 final exam part 2

    Question 1A CPA firm is considered independent when it performs which of the following services for a publicly traded audit client?A. tax return preparation as approved by the board of directors B. basic accounting recordkeeping and financial statement preparation C. accounting information system de...

  • Answered Strayer ACC403 week 7 quiz

    Question 1Proper segregation of functional responsibilities calls for separation of:Answerauthorization, execution, and payment.authorization, recording, and custody.custody, execution, and reporting.authorization, payment, and recording.Question 2Management must disclose material weaknesses in inte...

  • Answered Strayer ACC403 week 2 quiz 1

    Question 1In "auditing" financial accounting data, the primary concern is with:Answerdetermining whether recorded information properly reflects the economic events that occurred during the accounting perioddetermining if fraud has occurred..determining if taxable income has been calculated correctly...

  • Answered STRAYER ACC403 MIDTERM PART 1 & 2 EXAM 2015

    Buss: Acc (25)UserCourse Auditing ITest Midterm Exam Part 1Started2/9/15 12:10 AMSubmitted 2/9/15 1:29 AMStatus CompletedAttempt Score 125 out of 125 pointsTime Elapsed 1 hour, 18 minutes out of 2 hours.Instructions This midterm exam consists of 25 multiple choice questions and covers the material i...

  • Answered Strayer acc305 Final Exam Part 1

    Question 1Which of the following statements is true when comparing the accounting for leasing transactions under U.S. GAAP with IFRS?The IFRS leasing standard is the subject of over 30 interpretations since its issuance in 1982.IFRS for leases is more "rules-based" than U.S. GAAP and includes many b...

  • Answered Strayer ACC/206 Accounting Principles II Week 6 Quiz

    TRUE-FALSE STATEMENTS1. Dividends may be declared and paid in cash or stock.TrueFalse2. Cash dividends are not a liability of the corporation until they are declared by the board of directors.TrueFalse3. The amount of a cash dividend liability is recorded on the date of record because it is on that...

  • Answered ACC 561 Final Exam/ ACC 561 Final Exam (Updated)

    49.Which of the following is an advantage of corporations relative to partnerships and sole proprietorships?Lower taxes.Harder to transfer ownership.Most common form of organization.Reduced legal liability for investors.64. The group of users of accounting information charged with achieving the goal...

  • Answered TAX PROBLEMS

    Tax Return Problem       (  1020 S  )              chapter 12 John Parsons (123-45-6781) and George Smith (123-45-6782) are 70% and 30% owners, respectively, of Premium, Inc. (11-1111111), a candy company located at 1005 16th Street, Cut and Shoot, TX 77303. Premium's Selection was made on January 1...

  • Answered Audit Risks

    There are many types of risk that come into play during the audit process. Describe the following four main risks: Business risk Financial reporting risk Engagement risk Audit risk In your each of your descriptions, provide at least 1 example scenario, and answer the following: How would each of you...

  • Answered The Hershey Company

    Using the Hersheys Corporation please answer the following questions. Utilize the companies 10k to help assist you. The companies information can be found in http://www.thehersheycompany.com/investors.aspx Use your selected company’s 10-K and provide the following answers to the questions below. 1) ...

  • Answered The balance in prepaid insurance represents a 15-

    The balance in prepaid insurance represents a 15-month policy that went into effect on June 1.

  • Answered TAX PROBLEMS

    Tax Return Problem (1065)                                                        chapter 10 Ryan Ross (111-11-1112), Oscar Omega (222-22-2222), Clark Carey (333-33-3333), and Kim Kardigan (444-44-4444) are equal active members in ROCK the Ages LLC. ROCK serves as agents and managers for prominent mu...

  • Answered UOP Acct 211 Quiz 1 (A+++++++)

    1. The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the:Going-concern assumption.Business entity assumption.Objectivity principle.Cost Principle.Monetar...

  • Answered Financial Accounting

    Following are transactions of a new company called Pose-for-Pics. Aug. 1   Madison Harris, the owner, invested $6,500 cash and $33,500 of photography equipment in the company in exchange for common stock. 2  The company paid $2,100 cash for an insurance policy covering the next 24 months.5  The comp...

  • Answered The company made credit purchases of office equip

    The company made credit purchases of office equipment for $3600 and office supplies for $1700. Payment is due within 10 days.

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