Questions from General Accounting


Q: Some employees are encouraging and setting up preventive healthcare programs. Here

Some employees are encouraging and setting up preventive healthcare programs. Here are the percentages for five unhealthy behaviors for individuals with some college education: current cigarette smoke...

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Q: If your school has a subscription to the FASB Codification, go

If your school has a subscription to the FASB Codification, go to http://aaahq.org/ asclogin.cfm to log in and prepare responses to the following. (a) What is the definition of current liabilities? (b...

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Q: During a recent period, the fast-food chain Wendy’s International

During a recent period, the fast-food chain Wendy’s International purchased many treasury shares. This caused the number of shares outstanding to fall from 124 million to 105 million...

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Q: Ken Endicott, your uncle, is an inventor who has decided

Ken Endicott, your uncle, is an inventor who has decided to incorporate. Uncle Ken knows that you are an accounting major at U.N.O. In a recent letter to you, he ends with the question, “I’m filling o...

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Q: The R&D division of Jobe Corp. has just developed

The R&D division of Jobe Corp. has just developed a chemical for sterilizing the vicious Brazilian “killer bees” which are invading Mexico and the southern United States. The president of Jobe is anxi...

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Q: Osborn Corporation has paid 60 consecutive quarterly cash dividends (15 years

Osborn Corporation has paid 60 consecutive quarterly cash dividends (15 years). The last 6 months have been a real cash drain on the company, however, as profit margins have been greatly narrowed by i...

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Q: Ken Pember and Robyn Mays are examining the following statement of cash

Ken Pember and Robyn Mays are examining the following statement of cash flows for Gilbert Company for the year ended January 31, 2014. GILBERT COMPANY Statement of Cash Flows For the Year Ended Janua...

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Q: Jack Werth, the owner-president of Computer Services Company,

Jack Werth, the owner-president of Computer Services Company, is unfamiliar with the statement of cash flows that you, as his accountant, prepared. He asks for further explanation. Instructions: Writ...

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Q: Templeton Automotive Corp. is a medium-sized wholesaler of automotive

Templeton Automotive Corp. is a medium-sized wholesaler of automotive parts. It has 10 stockholders who have been paid a total of $1 million in cash dividends for 8 consecutive years. The board’s poli...

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Q: You are a loan officer for Great Plains Bank of Davenport.

You are a loan officer for Great Plains Bank of Davenport. Jason Putnam, president of J. Putnam Corporation, has just left your office. He is interested in an 8-year loan to expand the companyâ&...

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