Questions from College Accounting

Q: Explain the difference between a blank endorsement and a restrictive endorsement.

Explain the difference between a blank endorsement and a restrictive endorsement.

Q: Weaverling Company rents 10,000 square feet of store space for

Weaverling Company rents 10,000 square feet of store space for $36,000 per year. The amount of square footage by department is as follows: Department A: ………...…………………………………………… 2,600 sq. ft. Departme...

Q: Hayley Doll owns a car stereo store. She has divided her

Hayley Doll owns a car stereo store. She has divided her store into three departments. Net sales for the month of July are as follows: Deluxe: ……………………………………………………… $33,600 Standard: …………………………………………...

Q: Mercado Lopez owns a furniture store that offers free delivery of merchandise

Mercado Lopez owns a furniture store that offers free delivery of merchandise delivered within the local area. Mileage records for the three sales departments are as follows: Department 1: …………………………...

Q: The sales, cost of goods sold, and total operating expenses

The sales, cost of goods sold, and total operating expenses of departments A and B of Ash Company are as follows: Compute the departmental operating income for each department.

Q: The sales, gross profit, and condensed direct and indirect operating

The sales, gross profit, and condensed direct and indirect operating expenses of departments A and B of Wei Zhao International are as follows: Compute the departmental direct operating margin and dire...

Q: Thomas and Hill Distributors has divided its business into two departments:

Thomas and Hill Distributors has divided its business into two departments: commercial sales and industrial sales. The following information is provided for the year ended December 31, 20- : Net sale...

Q: Alexa Cole owns a business called Alexa’s Bakery. She has divided

Alexa Cole owns a business called Alexa’s Bakery. She has divided her business into two departments: breads and pastries. The following information is provided for the fiscal year en...

Q: Durwood Thomas operates the business Thomas Security that sells security equipment for

Durwood Thomas operates the business Thomas Security that sells security equipment for commercial property and residential homes. The following information is provided for the year ended December 31,...

Q: The following information is supplied for R&D Manufacturing Co.

The following information is supplied for R&D Manufacturing Co. and WP West Co. (a merchandising company). Prepare the cost of goods sold sections for the income statements of both companies for t...