Questions from Accounting Principles


Q: Refer to the information about Western Environmental Inc. presented in Exercise

Refer to the information about Western Environmental Inc. presented in Exercise 16-7. Use the direct method and prepare a statement of cash flows. Data from Exercise 16-7: Required: Use the Western E...

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Q: Laura’s Fresh Cooking Inc. began operations on January 1, 2019

Laura’s Fresh Cooking Inc. began operations on January 1, 2019. Laura’s prepares gourmet dinners and delivers to customers in fresh coolers; customers put them in t...

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Q: Common-size and trend percentages for a company’s net sales,

Common-size and trend percentages for a company’s net sales, cost of goods sold, and expenses follow: Required: Determine whether the company’s profit increased, de...

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Q: Brainium Technologies showed the following information in its Property, Plant,

Brainium Technologies showed the following information in its Property, Plant, and Equipment subledger regarding a warehouse. During 2020, it was determined that the original useful life on the wareho...

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Q: The original income statements for ZoomMed Inc. presented the following information

The original income statements for ZoomMed Inc. presented the following information when they were first published in 2019, 2020, and 2021: The company also experienced some changes in the number of o...

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Q: Trend analysis, profitability ratios (millions of $) /

Trend analysis, profitability ratios (millions of $) Required: Calculate Tia’s Trampolines Inc.’s profitability ratios for 2020 (round calculations to two decimal p...

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Q: Use the following information to calculate the ratio of pledged assets to

Use the following information to calculate the ratio of pledged assets to secured liabilities for both companies: Which company appears to have the riskier secured debt?

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Q: The following information is available from the financial statements of Landscape Enhancements

The following information is available from the financial statements of Landscape Enhancements Inc.: Calculate Landscape Enhancements’ return on total assets for 2019 and 2020. (Roun...

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Q: Spence Resources Inc.’s December 31 incomplete balance sheet information follows

Spence Resources Inc.’s December 31 incomplete balance sheet information follows along with additional information: Required 1. Prepare a three-year comparative balance sheet for Spe...

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Q: Book value per common share; Western Grass Inc.

Book value per common share; Western Grass Inc. Equity Section of Balance Sheet December 31, 2020. Required Using the information provided, calculate book value per common share assuming: a. There are...

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