Questions from College Accounting

Q: From the comparative income statement of Wood Company in Figure 22.

From the comparative income statement of Wood Company in Figure 22.7, do the following: Figure 22.7: a. Prepare a horizontal analysis with the amount of increase or decrease during 2016 along with...

Q: From the income statement (Figure 22.8) and balance

From the income statement (Figure 22.8) and balance sheet (Figure 22.9) of Aberson Company, compute the following for 2016: (a) current ratio, (b) acid test ratio, (c) accounts receivable turnover, (d...

Q: From the information about Valdemar Corporation in Figures 22.10 and

From the information about Valdemar Corporation in Figures 22.10 and 22.11 (page 784), do the following: Figures 22.10: Figures 22.11: a. For each year calculate its current ratio and acid test ra...

Q: Sadie Corporation uses a voucher system and records invoices at gross.

Sadie Corporation uses a voucher system and records invoices at gross. Record the following transactions in the voucher register and/or check register as appropriate:

Q: Jona Corporation has been using a voucher system for several years and

Jona Corporation has been using a voucher system for several years and records invoices at gross. Prepare entries in the voucher register and check register for the following transactions:

Q: The Simpson Company uses a voucher system and records invoices at gross

The Simpson Company uses a voucher system and records invoices at gross. Record the following transactions in the voucher register and/or check register as appropriate:

Q: From the following, construct a bank reconciliation for Capital Co.

From the following, construct a bank reconciliation for Capital Co. as of September 30, 201X. Checkbook balance ……………………..…………. $1,855.80 Bank statement balance ……………………………. 1975.40 Deposits in trans...

Q: From the following data, prepare in proper form an income statement

From the following data, prepare in proper form an income statement showing departmental gross profit (assume a 28% tax rate) for Quick Stop for the year ended December 31, 201X. Cash ………………………………………...

Q: Given the following information about the clothing and hardware departments of Phillips

Given the following information about the clothing and hardware departments of Phillips Company, prepare a departmental expense allocation sheet showing expenses by department. Allocation Basis Rent...

Q: Explain the matching principle in relation to recording Bad Debts Expense.

Explain the matching principle in relation to recording Bad Debts Expense.