Questions from General Accounting

Q: The income statement of Hubble Company is presented below. Additional

The income statement of Hubble Company is presented below. Additional information: 1. Accounts receivable decreased $290,000 during the year, and inventory increased $140,000. 2. Prepaid expenses incr...

Q: Vertical analysis (common-size) percentages for Capuano Company’s sales

Vertical analysis (common-size) percentages for Capuano Company’s sales revenue, cost of goods sold, and expenses are listed here. Did Capuano’s net income as a p...

Q: Data for Hubble Company are presented in P12-3B.

Data for Hubble Company are presented in P12-3B. Data given in P12-3B: The income statement of Hubble Company is presented below. Additional information: 1. Accounts receivable decreased $290,000 dur...

Q: Mosley Company’s income statement contained the condensed information below.

Mosley Company’s income statement contained the condensed information below. Mosley’s balance sheet contained the comparative data at December 31, below. Accoun...

Q: : Data for Mosley Company are presented in P12-5B.

Data for Mosley Company are presented in P12-5B. Data given in P12-5B: Mosley Company’s income statement contained the condensed information below. Mosley’s bala...

Q: Shown below are the financial statements of Filmore Company.

Shown below are the financial statements of Filmore Company. Additional data: 1. Depreciation expense was $6,000. 2. Dividends of $28,000 were declared and paid. 3. During the year, equipment was so...

Q: Data for Filmore Company are presented in P12-7B. Further

Data for Filmore Company are presented in P12-7B. Further analysis reveals the following. 1. Accounts payable pertains to merchandise creditors. 2. All operating expenses except for depreciation are p...

Q: Condensed financial data of Turner Inc. follow.

Condensed financial data of Turner Inc. follow. Additional information: 1. New plant assets costing $90,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $...

Q: Here are comparative statement data for Dean Company and Gerald Company,

Here are comparative statement data for Dean Company and Gerald Company, two competitors. All balance sheet data are as of December 31, 2014, and December 31, 2013 Instructions: (a) Prepare a vertic...

Q: The comparative statements of Simpson Company are shown below.

The comparative statements of Simpson Company are shown below. All sales were on account. Net cash provided by operating activities was $108,000. Capital expenditures were $47,000, and cash dividend...