Questions from College Accounting

Q: Prepare a horizontal analysis of the comparative income statement for Auster Co

Prepare a horizontal analysis of the comparative income statement for Auster Co. for the years ending December 31, 2015, and December 31, 2016. (Round to the nearest hundredth of a percent as needed.)...

Q: From the following, prepare a common-size income statement for

From the following, prepare a common-size income statement for Timothy Co. by converting the dollar amounts into percentages. (Round to the nearest hundredth of a percent.) Use net sales as 100%.

Q: From the following comparative balance sheet of Haynes Co., prepare a

From the following comparative balance sheet of Haynes Co., prepare a common-size comparative balance sheet. (Round all percentages to the nearest tenth of a percent.)

Q: Balance this four-column account. What function does the PR

Balance this four-column account. What function does the PR column serve? When will Account 111 be used in the journalizing and posting process?

Q: Explain how a gain or loss on retirement of bonds before the

Explain how a gain or loss on retirement of bonds before the maturity date is recorded.

Q: From the given income statement and additional information of Cunningham Co.,

From the given income statement and additional information of Cunningham Co., compute the following: a. Asset turnover for 2016 b. Inventory turnover for 2016 c. Accounts receivable turnover for 2016...

Q: Diaz Company, which is a medium-sized firm, uses

Diaz Company, which is a medium-sized firm, uses a voucher system. Record each of the following entries in general journal form. Assume that Diaz Company records all vouchers at gross.

Q: Karl Company uses a voucher system along with a petty cash fund

Karl Company uses a voucher system along with a petty cash fund. Record each of the following entries in general journal form. Assume that Karl Company records all vouchers at gross.

Q: Marvin Company records invoices at gross in its voucher system. From

Marvin Company records invoices at gross in its voucher system. From the following transactions, (a) record in general journal form the appropriate entries at gross and (b) record the entries as if Ma...

Q: From the following, calculate departmental income before tax. Assume a

From the following, calculate departmental income before tax. Assume a tax rate of 30%.