Questions from Financial Accounting


Q: A cash T account for Pryor Consulting Services’ first month of operations

A cash T account for Pryor Consulting Services’ first month of operations ended March 31, 20Y3, is as follows: a. Classify each of the March cash transactions as an operating, inve...

See Answer

Q: Paoli Consulting is a consulting firm owned and operated by Mary Paoli

Paoli Consulting is a consulting firm owned and operated by Mary Paoli. The following end-of-period spreadsheet was prepared for the year ended March 31, 20Y9: Based on the preceding spreadsheet, pr...

See Answer

Q: Easy Weight Loss Co. offers personal weight reduction consulting services to

Easy Weight Loss Co. offers personal weight reduction consulting services to individuals. After all the accounts have been closed on November 30, 20Y7, the end of the fiscal year, the balances of sele...

See Answer

Q: An accountant prepared the following post-closing trial balance:

An accountant prepared the following post-closing trial balance: Prepare a corrected post-closing trial balance. Assume that all accounts have normal balances and that the amounts shown are correct....

See Answer

Q: Amazon.com, Inc. (AMZN) is the largest

Amazon.com, Inc. (AMZN) is the largest Internet retailer in the United States. Best Buy, Inc. (BBY) is a leading retailer of technology and media products in the United States. Amazon and Best Buy com...

See Answer

Q: On July 1, the supplies account balance was $1,

On July 1, the supplies account balance was $1,680. During July, supplies of $5,250 were purchased, and $1,810 of supplies was on hand as of July 31. Determine supplies expense for July.

See Answer

Q: Data (in millions) from recent financial statements of Zynga Inc

Data (in millions) from recent financial statements of Zynga Inc. (ZNGA), Electronic Arts Inc. (EA), and Take-Two Interactive Software, Inc. (TTWO) are as follows: a. Compute the working capital for...

See Answer

Q: The Foot Locker, Inc. (FL) and Dick’s Sporting

The Foot Locker, Inc. (FL) and Dick’s Sporting Goods, Inc. (DKS) are two retail chains. The current assets and current liabilities from recent balance sheets for both companies are a...

See Answer

Q: The following year-end data were taken from recent balance sheets

The following year-end data were taken from recent balance sheets of Under Armour, Inc. (UA) (in millions): a. Compute the working capital and the current ratio as of December 31, Year 2 and Year 1....

See Answer

Q: Caterpillar Inc. (CAT) is one of the world’s largest

Caterpillar Inc. (CAT) is one of the world’s largest manufacturers of construction and mining equipment with revenue over $50 billion per year. The following year-end data were taken...

See Answer