Questions from Financial Accounting

Q: Plum Corporation began the month of May with $700,000

Plum Corporation began the month of May with $700,000 of current assets, a current ratio of 2.50:1, and an acid-test ratio of 1.10:1. During the month, it completed the following transactions (the com...

Q: Compute the annual dollar changes and percent changes for each of the

Compute the annual dollar changes and percent changes for each of the following items.

Q: Selected current year-end financial statements of Cabot Corporation follow.

Selected current year-end financial statements of Cabot Corporation follow. All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $48,900; total ass...

Q: Summary information from the financial statements of two companies competing in the

Summary information from the financial statements of two companies competing in the same industry follows. Required 1. For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accoun...

Q: Selected account balances from the adjusted trial balance for Olinda Corporation as

Selected account balances from the adjusted trial balance for Olinda Corporation as of its calendar year- end December 31 follow. Required 1. Assume that the company’s income tax rat...

Q: Selected comparative financial statements of Tripoly Company follow. /

Selected comparative financial statements of Tripoly Company follow. Required 1. Compute trend percents for all components of both statements using 2014 as the base year. Round percents to one decimal...

Q: Selected comparative financial statement information of Bluegrass Corporation follows. /

Selected comparative financial statement information of Bluegrass Corporation follows. Required 1. Compute each year’s current ratio. Round ratios to one decimal. 2. Express the inco...

Q: Selected current year-end financial statements of Overton Corporation follow.

Selected current year-end financial statements of Overton Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31 of the prior year were inventory, $17,400; total...

Q: Summary information from the financial statements of two companies competing in the

Summary information from the financial statements of two companies competing in the same industry follows. Required 1. For both companies compute the (a) current ratio, (b) acid-test ratio, (c) accoun...

Q: Brooks Co. purchases debt investments as trading securities at a cost

Brooks Co. purchases debt investments as trading securities at a cost of $66,000 on December 27. This is its first and only purchase of such securities. At December 31, these securities had a fair val...