Questions from Financial Accounting

Q: You are comparing two companies in the same industry. You have

You are comparing two companies in the same industry. You have determined that Gore Corp. depreciates its plant assets over a 40-year life, whereas Ross Corp. depreciates its plant assets over a 20-ye...

Q: (a) Describe cash equivalents and explain how they are reported

(a) Describe cash equivalents and explain how they are reported. (b) How should restricted cash funds be reported on the balance sheet?

Q: Explain how transactions related to plant assets and intangibles are reported in

Explain how transactions related to plant assets and intangibles are reported in the statement of cash flows under the indirect method.

Q: (a) Identify the three activities that pertain to a petty

(a) Identify the three activities that pertain to a petty cash fund, and indicate an internal control principle that is applicable to each activity. (b) When are journal entries required in the operat...

Q: Adama Company incurred the following costs. / Instructions

Adama Company incurred the following costs. Instructions Indicate to which account Adama would debit each of the costs.

Q: Refer to the financial statements of Apple Inc. in Appendix A

Refer to the financial statements of Apple Inc. in Appendix A. Instructions Answer the following questions. (a) What were Apple’s total current liabilities at September 27, 2014? What was the increase...

Q: Fraud experts often say that there are three primary factors that contribute

Fraud experts often say that there are three primary factors that contribute to employee fraud. Identify the three factors and explain what is meant by each.

Q: The stockholders’ equity section of Apple Inc.’s balance sheet is

The stockholders’ equity section of Apple Inc.’s balance sheet is shown in the Consolidated Statement of Financial Position in Appendix A. Instructions for accessing and using the company’s complete a...

Q: The financial statements of Apple Inc. are presented in Appendix A

The financial statements of Apple Inc. are presented in Appendix A. Instructions Answer the following questions. (a) What was the amount of net cash provided by operating activities for the year ended...

Q: Your parents are considering investing in Apple Inc. common stock.

Your parents are considering investing in Apple Inc. common stock. They ask you, as an accounting expert, to make an analysis of the company for them. Financial statements of Apple are presented in Ap...