Questions from Accounting Principles

Q: Use the information in Problem 1-3B to prepare the current

Use the information in Problem 1-3B to prepare the current year-end balance sheet for Audi Company.

Q: Refer to Apple’s financial statements in Appendix A to answer the following

Refer to Apple’s financial statements in Appendix A to answer the following. 1. What percent of the original cost of Apple’s Property, Plant and Equipment account remains to be depreciated as of (a) S...

Q: The accounting records of Tama Co. show the following assets and

The accounting records of Tama Co. show the following assets and liabilities as of December 31 for Year 1 and for Year 2. Required 1. Prepare balance sheets for the business as of December 31 for Yea...

Q: Matsu Company’s annual accounting period ends on October 31. The following

Matsu Company’s annual accounting period ends on October 31. The following information concerns the adjusting entries that need to be recorded as of that date. Entries can draw from the following part...

Q: Ace produces and sells energy drinks. Its contribution margin income statement

Ace produces and sells energy drinks. Its contribution margin income statement follows. A potential customer offers to buy 50,000 units for $3.00 each. These sales would not affect the companyâ&...

Q: MAX produces and sells power adapters. Its contribution margin income statement

MAX produces and sells power adapters. Its contribution margin income statement follows. A potential customer offers to buy 10,000 units for $5.80 each. These sales would not affect the companyâ...

Q: Micron Manufacturing produces telescopes. This month it produced 50 telescopes at

Micron Manufacturing produces telescopes. This month it produced 50 telescopes at a cost of $9,000. These telescopes were damaged in storage. Management has identified three alternatives for these tel...

Q: Sung Company produces two models of its product with the same machine

Sung Company produces two models of its product with the same machine. The machine has a capacity of 200 hours per month. The following information is available.

Q: ComPro is designing a new smart phone. Each unit of this

ComPro is designing a new smart phone. Each unit of this new phone will require $285 of direct materials; $10 of direct labor; $30 of variable overhead; $5 of variable selling, general, and administra...

Q: Dengo Co. makes a trail mix in two departments: Roasting

Dengo Co. makes a trail mix in two departments: Roasting and Blending. Direct materials are added at the beginning of each process, and conversion costs are added evenly throughout each process. The c...