Questions from Financial Accounting

Q: Perform the following accounting for the receivables of Garvey and Pullman,

Perform the following accounting for the receivables of Garvey and Pullman, a law firm, at December 31, 2012. Requirements 1. Start with the beginning balances for these T-accounts: ▶ Accounts Receiv...

Q: The president of The Pembrook Company has recently become concerned that the

The president of The Pembrook Company has recently become concerned that the bookkeeper has embezzled cash from the company. He asks you, confidentially, to look over the bank reconciliation that the...

Q: Refer to the Amazon.com, Inc., consolidated financial statements

Refer to the Amazon.com, Inc., consolidated financial statements in Appendix A at the end of this book. The cash and cash equivalents section of the Consolidated Balance Sheet shows a balance of $3,77...

Q: Refer to the RadioShack Corporation Consolidated Financial Statements in Appendix B at

Refer to the RadioShack Corporation Consolidated Financial Statements in Appendix B at the end of this book. 1. Focus on cash and cash equivalents. Why did cash change during 2010? The statement of ca...

Q: Environmental Concerns, Inc., has poor internal control. Recently,

Environmental Concerns, Inc., has poor internal control. Recently, Oscar Benz, the manager, has suspected the bookkeeper of stealing. Details of the business’s cash position at Septe...

Q: This case is based on an actual situation experienced by one of

This case is based on an actual situation experienced by one of the authors. Gilead Construction, headquartered in Topeka, Kansas, built a motel in Kansas City. The construction foreman, Slim Pickins,...

Q: Community Bank has a loan receivable from IMS Chocolates. IMS is

Community Bank has a loan receivable from IMS Chocolates. IMS is six months late in making payments to the bank, and Jan French, a Community Bank vice president, is assisting IMS to restructure its de...

Q: Bill Hooper opened a software consulting firm that immediately paid $6

Bill Hooper opened a software consulting firm that immediately paid $6,000 for a computer. Was Hooper’s computeran expense of the business? If not, explain.

Q: Donn Communications, Inc., is preparing its cash budget for 2012

Donn Communications, Inc., is preparing its cash budget for 2012. Donn ended 2011 with cash of $88 million, and managers need to keep a cash balance of at least $79 million for operations. Collections...

Q: SmithSoftware began with cash of $11,000. Smith then

SmithSoftware began with cash of $11,000. Smith then bought supplies for $2,400 on account.Separately, Smith paid $5,500 for a computer. Answer these questions. a. How much in total assets does Smith...