Questions from General Accounting

Q: Golden Corp., a merchandiser, recently completed its 2015 operations.

Golden Corp., 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...

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

Refer to the information reported about Golden Corporation in Problem 16-6A. Required Prepare a complete statement of cash flows using a spreadsheet as in Exhibit 16A.1; report operating activities u...

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

Refer to Golden Corporation’s financial statements and related information in Problem 16-6A. Required Prepare a complete statement of cash flows; report its cash flows from operatin...

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

Selected comparative financial statements of Haroun Company follow. Required 1. Compute trend percents for all components of both statements using 2009 as the base year. (Round percents to one deci...

Q: Peugeot S.A. reports the following financial information for the

Peugeot S.A. reports the following financial information for the year ended December 31, 2011 (euros in millions). Prepare its statement of cash flows under the indirect method. (Hint: Each line item...

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

Selected comparative financial statements of Korbin Company follow. Required 1. Compute each year’s current ratio. (Round ratio amounts to one decimal.) 2. Express the income stat...

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

Selected year-end financial statements of Cabot Corporation follow. (All sales were on credit; selected balance sheet amounts at December 31, 2014, were inventory, $48,900; total assets, $189,400; com...

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) acco...

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 yearend December 31, 2015, follow. Required Answer each of the following questions by providing su...