Questions from General Accounting

Q: Henna Co. produces and sells two products, T and O

Henna Co. produces and sells two products, T and O. It manufactures these products in separate factories and markets them through different channels. They have no shared costs. This year, the company...

Q: This year Burchard Company sold 40,000 units of its only

This year Burchard Company sold 40,000 units of its only product for $25 per unit. Manufacturing and selling the product required $200,000 of fixed manufacturing costs and $325,000 of fixed selling an...

Q: Patriot Co. manufactures and sells three products: red, white

Patriot Co. manufactures and sells three products: red, white, and blue. Their unit selling prices are red, $20; white, $35; and blue, $65. The per unit variable costs to manufacture and sell these pr...

Q: Salt Lake Company’s 2015 income statement and selected balance sheet data (

Salt Lake Company’s 2015 income statement and selected balance sheet data (for current assets and current liabilities) at December 31, 2014 and 2015, follow. Required Prepare the...

Q: Refer to the information in Exercise 16-11. Using the

Refer to the information in Exercise 16-11. Using the direct method, prepare the statement of cash flows for the year ended June 30, 2015. Information from Exercise 16-11: The following financial sta...

Q: Refer to the information in Problem 16-1B.

Refer to the information in Problem 16-1B. Required Prepare the cash flows from operating activities section only of the company’s 2015 statement of cash flows using the direct meth...

Q: Gazelle Corporation, a merchandiser, recently completed its calendar-year

Gazelle Corporation, a merchandiser, recently completed its calendar-year 2015 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts fr...

Q: Refer to the information reported about Gazelle Corporation in Problem 16-

Refer to the information reported about Gazelle Corporation in Problem 16-3B. Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1; report its operating activit...

Q: Refer to Gazelle Corporation’s financial statements and related information in Problem 16

Refer to Gazelle Corporation’s financial statements and related information in Problem 16-3B. Required Prepare a complete statement of cash flows; report its operating activities ac...

Q: Satu Company, a merchandiser, recently completed its 2015 operations.

Satu Company, a merchandiser, recently completed its 2015 operations. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable reflect cash receipts from customers, (3) all...