Building Blocks of Accounting . A Financial Perspective
A SOLE PROPRIETORSHIP
Ronney, when you are ready to have your work graded you will upload this file
to the same screen that the project was downloaded from:
Final Project Part I Peyton Approved Data
The following events occur in July 2014:
1 Open a bank account for Peyton Approved.
1 You take $15,000 from your personal savings account and buy common stock in Peyton
3 Your parents lend the company $1
Cash from operations
Earnings before interest and taxes
The Howit Department store is located in midtown Metro. During the past several years, net income has been declining because of suburban shopping centers. At the close of the year ended December 31,2007, the following accounts appeared in two of its trial
Case # 05
PART 2 (A)
Alex & CO.
Make / Buy Analysis
ACC211 Extra Credit Assignment
You are a Bicycle shop.
Using the following post-closing trial balance as your starting point complete the the
Journal Entries for the following months, March, April, May and June. At the end of
each months entri
The Accounting Cycle
This document is to throw some light on the working of accounting system and accounting cycle. An
accounting system is a key system in any business that helps in collecting and communicating economic
information, preparing and maintai
Problem 15-1A Recording transactions and fair value adjustments for trading securities
Carlsville Company, which began operations in 2015, invests its idle cash in trading securities. The following
transactions are from its short-term investments in tradi
Problem 21-1A Contribution margin income statement and contribution margin ratio
The following costs result from the production and sale of 1,000 drum sets manufactured by Tight
Drums Company for the year ended December 31, 2015. The drum sets sell for $5
1. Revenues were $170,000, expenses were $90,000, and cash dividends were $30,000.
Indicate the net income and the change in retained earnings for the period.
A.Net income was $50,000; change in retained earnings was $50,000
B. Net income was $80,000; cha
1. The companies have/has the primary responsibility for establishing and maintaining a
company's system of internal control.
A) External auditors
B) Internal auditors
C) Top management
2. SOX created a new body to oversee the audits of pu
Vibrant Company had $850,000 of sales in each of three consecutive years 20142016, and it purchased merchandise
costing $500,000 in each of those years. It also maintained a $250,000 physical inventory from the beginning to the end
of that three-year peri
Intermediate Financial Accounting I - ADMN 3221H
Accounting Assignment #1 - Review of Financial Accounting Concepts and Principles
Part 1 - Questions #1 - #25. True or False. [25 marks]
1. Financial Statements that are prepared in accordance with GAAP for
(Classification of Land and Building Costs)
Spitfire Company was incorporated on January 2, 2015, but was unable to begin manufacturing activities until July 1, 20
because new factory facilities were not completed until that date. The Land and Buildings a
Problem 25-3A Computation of cash flows and net present values with alternative depreciation methods
Manning Corporation is considering a new project requiring a $90,000 investment in test equipment with no salvage value.
produce $66,000 of pretax income
(Lessee-Lessor Entries, Balance Sheet Presentation, Sales-Type Lease)
Winston Industries and Ewing Inc. enter into an agreement that requires Ewing Inc. to build three diesel-electric engines to
the engines, Winston has agreed to lease them for a period o
E16-25. (EPS with Convertible Bonds and Preferred Stock)
On January 1, 2014, Crocker Company issued 10-year, $2,000,000 face value, 6% bonds, at par. Each $1,000
bond is convertible into 15 shares of Crocker common stock. Crocker's net income in 2014 was
(Permanent and Temporary Differences, One Rate)
The accounting records of Shinault Inc. show the following data for 2014 (its first year of operations).
Life insurance expense on officers was $9,000.
Equipment was acquired in ea
P17-3. (Available-for-Sale Investments)
Cardinal Paz Corp. carries an account in its general ledger called Investments, which contained debits for investm
and no credits, with the following descriptions.
Feb. 1, 2014
Sharapova Company common stock, $100 p
Hull Company's record of transactions concerning part X for the month of April was as follows.
Problem Assignments and Solutions - Capital Structure
Calculate the correct answer in all problems
USE NPV, Rate, and IRR Functions as appropriate in Problems 4b, 4d. 4e, 5, and 8
Explain in words what you do to make each calculation
Explain in words what
Dec 31, 2010
Jan 3, 2011
GENEREAL JOURNAL ENTRIES
Bad Debt Expense
Allowance for Doubtful Accounts
To record bad debts for the year.
Allowance for doubtful account
To write off
Fill in the missing numbers for the following income statement. (Input all amounts a
Calculate the OCF.
Problem 23-2A Preparation and analysis of a flexible budget performance report
Refer to the information in Problem 23-1A. Phoenix Companys actual income statement for 2015 follows.
Statement of Income from Operations
For The Year Ended Dec
Problem 17-2A Ratios, common-size statements, and trend percents
Check (3) 2015, Total assets trend,
Selected comparative financial statements of Korbin Company follow
Comparative Income Statements
For Years Ended December 31, 2015, 2014, a
Problem 13-1A Stockholders equity transactions and analysis
Kinkaid Co. is incorporated at the beginning of this year and engages in a number of transactions. The following journal ent
Common Stock, $25 Par Value
EXPRESS DELIVERY SERVICE
For the Year Ended Dec 31, 2015
Acount Title and Description
To record salaries paid.
To record truck purchased.
Homework 2 By: Christopher G. Kennedy
a. Draw a conceptual graph to show total revenue and total costs that this company is experiencing.
b. Identify three types of fixed costs that the airline should carefully examine to lower its breakeven point.
MGT101- Financial Accounting (Session - 4)
Time: 120 min
Question No: 1 - Please choose one
Occurrence of eventLedger voucher
JournalTrial Balanceprofit and loss account
Shares for which amount is p
FINA 6300 Practice Test 11
1. Interest rates or rates of return on investments that have been adjusted for the effects of ination are called
2. The upper and lower limits on the cou
Note: It is recommended that you save your response as you complete each question.
Question 1 (1 point)
An entity represents the individual characteristics or properties that are recorded about an object.
Question 1 options:
Financial reporting is an important component of business control and governance. It is one of the principal
mean by which important financial information about a business is communicated to interested users
concerning the business fin
Assignment 2: TVOM Calculations
Ling is considering to open an annuity to save for a down payment on a home. The annuity would be created
of each of the following ten years, a payment of $4,000 would be made into the annuity. The interest rate is 2