Questions from Financial Accounting

Q: Revenue and expense data for Innovation Quarter Inc. for two recent

Revenue and expense data for Innovation Quarter Inc. for two recent years are as follows: a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales....

Q: This activity will require two teams to retrieve cash flow statement information

This activity will require two teams to retrieve cash flow statement information from the Internet. One team is to obtain the most recent year’s statement of cash flows for Johnson & Johnson; the othe...

Q: The following comparative income statement (in thousands of dollars) for

The following comparative income statement (in thousands of dollars) for two recent fiscal years was adapted from the annual report of Speedway Motorsports, Inc., owner and operator of several major m...

Q: Revenue and expense data for the current calendar year for Tannenhill Company

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill’s data are expressed in dollars. The electro...

Q: Balance sheet data for Alvarez Company on December 31, the end

Balance sheet data for Alvarez Company on December 31, the end of two recent fiscal years, follow: Prepare a comparative balance sheet for both years, stating each asset as a percent of total assets...

Q: On July 16, 20Y1, Wyatt Corp. purchased 40 acres

On July 16, 20Y1, Wyatt Corp. purchased 40 acres of land for $350,000. The land has been held for a future plant site until the current date, December 31, 20Y9. On December 18, 20Y9, TexoPete Inc. pur...

Q: Income statement data for Winthrop Company for two recent years ended December

Income statement data for Winthrop Company for two recent years ended December 31 are as follows: a. Prepare a comparative income statement with horizontal analysis, indicating the increase (decreas...

Q: The following data were taken from the balance sheet of Nilo Company

The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: a. Determine for each year (1) The working capital, (2) The current ratio, and (3) The qui...

Q: PepsiCo, Inc., the parent company of Frito-Lay snack

PepsiCo, Inc., the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current assets and current liabilities at the end of two recent years: a. Determine the (1) Current...

Q: The bond indenture for the 10-year, 9% debenture

The bond indenture for the 10-year, 9% debenture bonds issued January 2, 20Y5, required working capital of $100,000, a current ratio of 1.5, and a quick ratio of 1.0 at the end of each calendar year u...