Questions from Financial Accounting

Q: Pettygrove Inc. reported the following data: /

Pettygrove Inc. reported the following data: Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.

Q: Staley Inc. reported the following data: /

Staley Inc. reported the following data: Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method.

Q: Beginning inventory, purchases, and sales for 30xT are as follows

Beginning inventory, purchases, and sales for 30xT are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a). the weighted average unit cost after th...

Q: Prepare a journal entry on December 23 for dividends of $20

Prepare a journal entry on December 23 for dividends of $20,000.

Q: After the accounts have been adjusted at October 31, the end

After the accounts have been adjusted at October 31, the end of the fiscal year, the following balances were taken from the ledger of Smart Delivery Services Co.: Journalize the four entries require...

Q: Prepare journal entries for each of the following: a.

Prepare journal entries for each of the following: a. Issued a check to establish a petty cash fund of $750. b. The amount of cash in the petty cash fund is $115. Issued a check to replenish the fund,...

Q: At the end of the current year, Accounts Receivable has a

At the end of the current year, Accounts Receivable has a balance of $1,975,000; Allowance for Doubtful Accounts has a credit balance of $19,670; and sales for the year total $28,550,000. Using the ag...

Q: The payroll register of Konrath Co. indicates $13,200

The payroll register of Konrath Co. indicates $13,200 of social security withheld and $3,300 of Medicare tax withheld on total salaries of $220,000 for the period. Federal withholding for the period t...

Q: Olde Wine Corporation has 250,000 shares of $40 par

Olde Wine Corporation has 250,000 shares of $40 par common stock outstanding. On February 15, Olde Wine Corporation declared a 2% stock dividend to be issued May 2 to stockholders of record on March 2...

Q: The revenues and expenses of Ousel Travel Service for the year ended

The revenues and expenses of Ousel Travel Service for the year ended November 30, 2016, follow: Prepare an income statement for the year ended November 30, 2016.