Questions from General Accounting

Q: Refer to the information in Exercise 21-16. 1

Refer to the information in Exercise 21-16. 1. Compute the company’s degree of operating leverage for 2015. 2. If sales decrease by 5% in 2016, what will be the companyâ€&...

Q: A company reports the following information about its sales and its cost

A company reports the following information about its sales and its cost of sales. Each unit of its product sells for $500. Use these data to prepare a scatter diagram. Draw an estimated line of cost...

Q: Felix & Co. reports the following information about its sales and

Felix & Co. reports the following information about its sales and cost of sales. Draw an estimated line of cost behavior using a scatter diagram, and compute fixed costs and variable costs per uni...

Q: Refer to the Simon Company information in Exercise 17-6.

Refer to the Simon Company information in Exercise 17-6. The company’s income statements for the years ended December 31, 2015 and 2014, follow. Assume that all sales are on credit a...

Q: A jeans maker is designing a new line of jeans called Slims

A jeans maker is designing a new line of jeans called Slims. The jeans will sell for $205 per pair and cost $164 per pair in variable costs to make. 1. Compute the contribution margin per pair. 2. Com...

Q: Lansing Company’s 2015 income statement and selected balance sheet data (for

Lansing 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 ca...

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

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

Q: Forten Company, a merchandiser, recently completed its calendar-year

Forten Company, 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 from cu...

Q: Refer to the information reported about Forten Company in Problem 16-

Refer to the information reported about Forten Company in Problem 16-3A. Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1; report its operating activities u...

Q: Refer to Forten Company’s financial statements and related information in Problem 16

Refer to Forten Company’s financial statements and related information in Problem 16-3A. Required Prepare a complete statement of cash flows; report its operating activities accordi...