Questions from Financial Accounting

Q: Johnson & Johnson’s 2017 financial statements include the following items (all

Johnson & Johnson’s 2017 financial statements include the following items (all dollars in millions). Compute the following ratios and comment on the trend you can observe from t...

Q: Parsons Plumbing & Heating manufactures thermostats that it uses in several of

Parsons Plumbing & Heating manufactures thermostats that it uses in several of its products. Management is considering whether to continue manufacturing the thermostats or to buy them from an outs...

Q: The accounting records of NuTronics, Inc., include the following information

The accounting records of NuTronics, Inc., include the following information for the year ended December 31. Overhead assigned to production was $192,000. a. Prepare a schedule of the cost of finishe...

Q: The Sarbanes–Oxley Act requires that the CEO (chief executive

The Sarbanes–Oxley Act requires that the CEO (chief executive officer) and CFO (chief financial officer) of publicly traded corporations include statements of personal certification in the disclosures...

Q: The following information was taken from annual reports of Goodyear Tire &

The following information was taken from annual reports of Goodyear Tire & Rubber and PPL Corp., a public utility: a. Compute for each company the accounts receivable turnover rate for the year....

Q: Perform an Internet search of “The Hershey Company Investor Relations.”

Perform an Internet search of “The Hershey Company Investor Relations.” After gaining to access to Hershey’s Investor Relations homepage, access the link to the company’s most recent annual report. Ex...

Q: Listed are five items that may or may not require disclosure in

Listed are five items that may or may not require disclosure in the notes that accompany financial statements. a. Mandella Construction Co. uses the percentage-of-completion method to recognize reven...

Q: For the year ended December 31, Southern Supply had net sales

For the year ended December 31, Southern Supply had net sales of $3,875,000, costs and other expenses (including income tax) of $3,100,000, and a gain from discontinued operations (net of income tax)...

Q: The flow of manufacturing costs through the ledger accounts of Superior Locks

The flow of manufacturing costs through the ledger accounts of Superior Locks, Inc., in the current year is illustrated as follows in summarized form. Instructions: Indicate the following amounts req...

Q: Visit the home page of the Ford Motor Company at www.

Visit the home page of the Ford Motor Company at www.ford.com. From Ford’s home page, access the company’s most recent annual report (select the “Investors” menu item near the bottom of the page). Loc...