Questions from Financial Accounting

Q: Key figures for Apple and Google follow. / Required

Key figures for Apple and Google follow. Required 1. Compute times interest earned for the three years’ data shown for each company. 2. In the current year, and using times interest...

Q: Comparative figures for Samsung, Apple, and Google follow.

Comparative figures for Samsung, Apple, and Google follow. Required 1. Compute the times interest earned ratio for the most recent two years for Samsung using the data shown. 2. Is the change in Samsu...

Q: Chavez Co.’s salaried employees earn four weeks’ vacation per year

Chavez Co.’s salaried employees earn four weeks’ vacation per year. Chavez estimated and must expense $8,000 of accrued vacation benefits for the year. (a) Prepare the December 31 year-end adjusting e...

Q: Selk Steel Co., which began operations in Year 1, had

Selk Steel Co., which began operations in Year 1, had the following transactions and events in its long- term investments. Year 1 Jan.5 Selk purchased 60,000 shares (20% of total) of Kildaire’s common...

Q: What is the combined amount (in percent) of the employee

What is the combined amount (in percent) of the employee and employer Social Security tax rate? (Assume wages do not exceed $132,900 per year.)

Q: Refer to Apple’s balance sheet in Appendix A. What is the

Refer to Apple’s balance sheet in Appendix A. What is the amount of Apple’s accounts payable as of September 29, 2018?

Q: Refer to Samsung’s balance sheet in Appendix A. List Samsung’s current

Refer to Samsung’s balance sheet in Appendix A. List Samsung’s current liabilities as of December 31, 2018.

Q: Cameron Bly is a sales manager for an automobile dealership. He

Cameron Bly is a sales manager for an automobile dealership. He earns a bonus each year based on revenue from the number of autos sold in the year less related warranty expenses. Actual warranty expen...

Q: Dusty Johnson is the accounting and finance manager for a manufacturer.

Dusty Johnson is the accounting and finance manager for a manufacturer. At year-end, he must determine how to account for the company’s contingencies. His manager, Tom Pretti, objects to Johnson’s pro...

Q: Access the February 22, 2019, filing of the December 31

Access the February 22, 2019, filing of the December 31, 2018, annual 10-K report of McDonald’s Corporation (ticker: MCD), which is available from SEC.gov. Required 1. Identify the current liabilities...