Questions from Accounting Principles


Q: Assume that during 2020, Cypress Semiconductor Corporation reported net cash provided

Assume that during 2020, Cypress Semiconductor Corporation reported net cash provided by operating activities of $155,793,000, net cash used in investing activities of $207,826,000 (including cash spe...

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Q: Hinck Corporation reported net cash provided by operating activities of $360

Hinck Corporation reported net cash provided by operating activities of $360,000, net cash used by investing activities of $250,000 (including cash spent for capital assets of $200,000), and net cash...

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Q: Suppose these selected condensed data are taken from recent balance sheets of

Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands). Compute the current ratio for each year and comment on your results.

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Q: Using the data presented in BE18.4 for Rollaird Company,

Using the data presented in BE18.4 for Rollaird Company, perform vertical analysis. Data from BE18.4:

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Q: Net income was $500,000 in 2018, $485

Net income was $500,000 in 2018, $485,000 in 2019, and $518,400 in 2020. What is the percentage of change from (a) 2018 to 2019, and (b) from 2019 to 2020? Is the change an increase or a decrease?

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Q: If Coho Company had net income of $382,800 in

If Coho Company had net income of $382,800 in 2020 and it experienced a 16% increase in net income over 2019, what was its 2019 net income?

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Q: Vertical analysis (common-size) percentages for Palau Company’s sales

Vertical analysis (common-size) percentages for Palau Company’s sales revenue, cost of goods sold, and expenses are as follows. Did Palau’s net income as a percen...

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Q: Each of the items below must be considered in preparing a statement

Each of the items below must be considered in preparing a statement of cash flows for Baskerville Co. for the year ended December 31, 2020. For each item, state how it should be shown in the statement...

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Q: On August 1, Shaw Company buys 1,000 shares of

On August 1, Shaw Company buys 1,000 shares of Estrada common stock for $37,000 cash. On December 1, Shaw sells the stock investments for $40,000 in cash. Journalize the purchase and sale of the commo...

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Q: On January 1, 2020, Bryce Inc. changed from the

On January 1, 2020, Bryce Inc. changed from the LIFO method of inventory pricing to the FIFO method. Explain how this change in accounting principle should be treated in the company’s financial statem...

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