Questions from Financial Accounting

Q: On October 1, 2020, Santana Rey launched a computer services

On October 1, 2020, Santana Rey launched a computer services company, Business Solutions that is organized as a corporation and provides consulting services, computer system installations, and custom...

Q: Key financial figures for Apple’s two most recent fiscal years follow.

Key financial figures for Apple’s two most recent fiscal years follow. Required 1. What is the total amount of assets invested in Apple in the current year? 2. What is Appleâ&#...

Q: Key comparative figures for both Apple and Google follow.

Key comparative figures for both Apple and Google follow. Required 1. What is the total amount of assets invested for the current year in (a) Apple and (b) Google? 2. What is the current-year retur...

Q: Refer to Google’s financial statements in GOOGLE Appendix A near the end

Refer to Google’s financial statements in GOOGLE Appendix A near the end of the text. To what level of significance are dollar amounts rounded? What time period does their income statements cover?

Q: Access the SEC EDGAR database (sec.gov/edgar

Access the SEC EDGAR database (sec.gov/edgar) and retrieve Apple’s 2018 10-K (filed November 5, 2018). Identify its auditor. What responsibility does its independent auditor claim regarding Apple’s fi...

Q: Visit the EDGAR database at sec.gov/edgar/searchedgar

Visit the EDGAR database at sec.gov/edgar/searchedgar/companysearch.html. Access the Form 10-K report of Rocky Mountain Chocolate Factory (ticker: RMCF) filed on May 15, 2018, covering its 2018 fiscal...

Q: Teamwork is important in today’s business world. Successful teams schedule convenient

Teamwork is important in today’s business world. Successful teams schedule convenient meetings, maintain regular communications, and cooperate with and support their members. This assignment aims to e...

Q: Identify the accounting principle or assumption that best explains each situation.

Identify the accounting principle or assumption that best explains each situation. 1. In December of this year, Chavez Landscaping received a customer’s order and cash prepayment to install sod at a h...

Q: Prepare Riley Company’s journal entries to record the following transactions for the

Prepare Riley Company’s journal entries to record the following transactions for the current year. Apr. 18 Purchases 300 common shares of XLT Co. as a short-term investment at a cost of $42 per shar...

Q: Determine whether each of the following transactions increases or decreases equity.

Determine whether each of the following transactions increases or decreases equity. a. Owner invested cash in the company. b. Incurred maintenance expenses. c. Performed services for a client. d. Inc...