Homework answers / question archive / 1)  A)The company buys raw materials worth of $3000 from a vendor, and the terms of payments are 40% upfront and 60% due in 30 days

1)  A)The company buys raw materials worth of $3000 from a vendor, and the terms of payments are 40% upfront and 60% due in 30 days

Accounting

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1)  A)The company buys raw materials worth of $3000 from a vendor,

and the terms of payments are 40% upfront and 60% due in 30 days.

B)The company makes the remaining payment. 
I have to complete 3 T-charts

2) Describe the effect on the financial statements when an adjustment

is prepared that records (a) unrecorded revenue and (b) unrecorded expense. why do you think that adjusting entries are made on the last day of the accounting period rather than at several times during the accounting period?

3) Which of the following statements about the relevant range is true?

A)Cost functions outside the relevant range are usually linear

 

B)The relevant range is the normal length of time in a company's accounting period

 

C)Estimates outside the relevant range are useful

 

D)Cost functions within the relevant range are assumed to be linear

4) Tim Taylor has written a self improvement book that has the following cost characteristics:Selling Price

$16.00 per book

Variable cost per unit:

Production $4.00

Selling & administrative 2.00

Fixed costs: 

Production $97,200 per year

Selling & administrative 20,400 per year

 

How many units must be sold to break-even?  Round to two decimal places.

5) When bonds are issued at a premium, theamount of premium amortized will get larger with successive amortization.

interest rate used to calculate interest expense will be the contractual rate.

interest paid to bondholders will increase after each interest payment date.

amortized cost of the bonds will increase with successive amortization.

6) identify the constraint that limits company to provide information

with the qualitative characteristic that make it useful.

7) Compare and contrast the Systems Development Lifecycle with Agile

Development methodologies. Provide examples where it might be appropriate to implement each. What drawbacks or issues might an organization encounter when implementing an Agile development program?

8) The ability for a company to meet its liability obligations is important

when assessing financial stability. What might high liability balances indicate about a company and what are the pros and cons of this type of balance? What is a real-world example to illustrate this?

           

9) A number of reams of paper and boxes of pencil are in stores at the

end of the year. These were not included in the closing stock. Instead they were written off as office expenses

10) Food selling business. My organization will be falling in the food

industry selling food items such as groceries to customers. These may include bread, meat products, cooking oils, butter, among other items.

What is an example of an estimated liability for this business?

11) Analyze the current market position of Wapda by using bottom up approach and top down aaproach?

12) I need an answer for IAS - 40 question No. 37. Croft squired a building

with a 40-year life for its investment.... I need the answer with explanation please.

13) What are the primary characteristics of an annuity? Differentiate

between an "ordinary annuity" and an "annuity due"

14) Describe the characteristics of a situation that would be considered an audit failure.

15) The audited financial statements were found to contain a material

misstatement after the financial statements and audit report were issued. Explain why an auditor might be found to not be responsible for having not detected the misstatement.

16) Identify the Literary devices in Bewoulf's Final Speech