Questions from Financial Accounting

Q: Rekya Mart Inc. is a general merchandise retail company that began

Rekya Mart Inc. is a general merchandise retail company that began operations on January 1, 2016. The following transactions relate to debt investments acquired by Rekya Mart Inc., which has a fiscal...

Q: Pearl Corporation’s accumulated depreciation—furniture account increased by $8,

Pearl Corporation’s accumulated depreciation—furniture account increased by $8,400, while $3,080 of patent amortization was recognized between balance sheet dates. There were no purchases or sales of...

Q: Financial statement data for the years ended December 31 for Dovetail Corporation

Financial statement data for the years ended December 31 for Dovetail Corporation follows: a. Determine the earnings per share for 2016 and 2015. b. Does the change in the earnings per share from 20...

Q: The following data were taken from Alvarado Company’s balance sheet:

The following data were taken from Alvarado Company’s balance sheet: a. Compute the ratio of liabilities to stockholders’ equity. b. Has the creditorâ€...

Q: Two income statements for Paragon Company follow: /

Two income statements for Paragon Company follow: Prepare a horizontal analysis of Paragon Company’s income statements.

Q: For the year ending April 30, 2016, Urology Medical Services

For the year ending April 30, 2016, Urology Medical Services Co. mistakenly omitted adjusting entries for (1) $1,400 of supplies that were used, (2) unearned revenue of $6,600 that was earned, and (3)...

Q: Financial statement data for years ending December 31 for Tango Company follows

Financial statement data for years ending December 31 for Tango Company follows: a. Determine the inventory turnover for 2016 and 2015. b. Determine the number of days’ sales in in...

Q: Financial statement data for the years ended December 31 for Black Bull

Financial statement data for the years ended December 31 for Black Bull Inc. follows: a. Determine the earnings per share for 2016 and 2015. b. Does the change in the earnings per share from 2015 to...

Q: The Signage Company specializes in the maintenance and repair of signs,

The Signage Company specializes in the maintenance and repair of signs, such as billboards. On March 31, 2016, the accountant for The Signage Company prepared the following trial balances: Instructi...

Q: Berry Company reported the following on the company’s income statement in 2016

Berry Company reported the following on the company’s income statement in 2016 and 2015: a. Determine the number of times interest charges are earned for 2016 and 2015. Round to on...