Questions from Accounting Principles

Q: A company reported average total assets of $1,240,

A company reported average total assets of $1,240,000 in Year 1 and $1,510,000 in Year 2. Its net operating cash flow was $102,920 in Year 1 and $138,920 in Year 2. (1) Calculate its cash flow on tota...

Q: Complete the following spreadsheet in preparation of the statement of cash flows

Complete the following spreadsheet in preparation of the statement of cash flows. (The statement of cash flows is not required.) Prepare the spreadsheet as in Exhibit 16A.1 under the indirect method....

Q: Key figures for the recent two years of both Apple and Google

Key figures for the recent two years of both Apple and Google follow. Required 1. Compute current ratios for (a) Apple and (b) Google for the two years reported above. 2. In the current year, which co...

Q: Refer to the information in Exercise 16-12. Using the

Refer to the information in Exercise 16-12. Using the direct method, prepare the statement of cash flows for the year ended June 30, 2021. Hint: Prepaid Expenses and Wages Payable relate to Operating...

Q: Refer to information in Exercise 16-4. Use the direct

Refer to information in Exercise 16-4. Use the direct method to prepare the operating activities section of Son ad’s statement of cash flows.

Q: Compute trend percent’s for the following accounts using 2017 as the base

Compute trend percent’s for the following accounts using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percentâ
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Q: Simon Company’s year-end balance sheets follow. (1)

Simon Company’s year-end balance sheets follow. (1) Express the balance sheets in common-size percent’s. Round percent’s to one decimal. (2) Assum...

Q: Refer to Simon Company’s balance sheets in Exercise 17-6.

Refer to Simon Company’s balance sheets in Exercise 17-6. (1) Compute the current ratio for each of the three years. Did the current ratio improve or worsen over the three-year period? (2) Compute the...

Q: Refer to the Simon Company information in Exercise 17-6.

Refer to the Simon Company information in Exercise 17-6. The company’s income statements for the current year and one year ago follow. Assume that all sales are on credit and then co...

Q: Refer to Simon Company’s financial information in Exercises 17-6 and

Refer to Simon Company’s financial information in Exercises 17-6 and 17-8. For both the current year and one year ago, compute the following ratios: (1) profit margin ratio—percent rounded to one deci...