Burldrng Bulldmg Improve Improvements
_ " _ Land 6 2 3 mentsl 2
Purchase price . 61,612, 000 6598, 000 $390,000
Demolition . 328, 400
Land grading . 175,400
New building 62,202,000
New improvements $164,000
Totals . . . m menu memo
Store Supplies Expense . 4,050
Store Supplies .
To record store supplies expense
($5,800 - $1,750).
Insurance Expense . 1,400
Prepaid insurance .
To record expired insu
a. Accounts Receivable . 1,345,434
Sales . 1,345,434
To record sales on account.
Cost of Goods sou . 975,000
Merchandise inventory . 975,000
To record cost of sales.
b. Allowance for Doubtful Accounts . 18,300
Accounts Receivable . , 18,300
Problem 13-1A cfw_6" M-es\
Current ratio: December 31, 2014: $52,390 I $22,800 = 2.319 1
December 31, 2013: $37,924 I $19,960 = $9431
December 31,2012: $51,748 / $20,300 = ZL5_tQJ
wmparatlve nCo efStatements
ded ecember 31 201420
Problem 10-2A ,
Jan. 1 Cash . 3,456,448
Discount on Bonds Payable . 543,552
Bonds Payable . 4,000,000
Sold bonds on stated issue date.
[Note: The semiannual amounts for (a), (b), and (c) below are the same throughout the bonds
PROBLEM SET A
Cash . 101 100,000
Office Equipment . _ . 163 5,000
Drafting Equipment . 164 60,000
Common Stock . 307
Owner invested cash and equipment for stock.
Land . 172 49,000
Cash . 101
Notes Payable . 250
Purchased land with
Problem 12-1 A ,"
tatement ' j,
For Y_,_ar Ended December 31 2013
Cash flows from operating activities
Net income . $114,975
Adjustments to reconcile net income to net
cash provided by operating activities:
SAMPLE Exam 2: Chapters 4, 5, and 6
A merchandising company's _ begins with the purchase of merchandise and ends with the collection of
cash from merchandise sales.
A company had sales of $695,000 and cos
SAMPLE Exam 3: Chapters 7, 8, and 9
Acme Company has an agreement with a major credit card company that calls for cash to be received immediately
upon deposit of Acme customers' credit card sales receipts. The credi
SAMPLE Exam 1: Chapters 1, 2, and 3
Accounting is a _ that identifies, records, and communicates relevant, reliable, and comparable
information about an organization's economic activities.
The area of acc
Sample Exam 4: Chapters 10, 11, 12, and 13
1. A basic present value concept is that cash received in the future has more value than the
same amount of cash received today.
2. The present value of an annuity facto
PROBLEM SET A
1. Compute cost of goods available for sale and units available for sale
Beginning inventory . 100 units @ $50.00 $ 5,000
March 5 . 400 units @ $55.00 22,000
March 18 . 120 units @ $60.00 7,200
March 25 . 200 units @ $
As I announced in class previously, you are responsible for knowing how to calculate a bonus based on a company's
annual net income even though there is not a similar problem on the sample exam. This was covered in the lecture
on Chapter 9. The PowerP
Kayak Co. budgeted the following cash receipts [excluding cash receipts from loans received) and cash
disbursements (excluding cash disbursements for loan principal and interest payments] for the rst three
months of next year.
For each oi the following statement select the correct term.
A(n] lsunk cost arises from a past decision and cannot be avoided or (hanged; it is irrelevanttofuture decisions.
Relevant benets refer to the incremental revenue g
1litfoh Che Co. has four departments: materials. personnel, manufacturing, and packaging. In a recent
month. the four departments incurred three shared indirect expenses. The amounts of these indirect
expenses and the bases used to alloc
Extra Credit Assignment instructions I help
< mm . > a a a"
' 2.00 points
The following information is for Tide Corporation:
(Shunnth) 2013 2012
Net sales $801,810 $453,000
Cost of goods sold 392,38? 134,080
Determine the 2012 and 2013 trend pe
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chapter 16: Process Costing and Analysis
Explain process operations and the way they differ from job order operations.
Production Departments chapter 16: Process Costing and Analysis
Explain process op