Questions from General Accounting


Q: The condensed balance sheet and income statement data for Symbiosis Corporation are

The condensed balance sheet and income statement data for Symbiosis Corporation are presented below. Additional information: 1. The market price of Symbiosis common stock was $5.00, $3.50, and $2.80...

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Q: Financial information for Bradford Company is presented here. /

Financial information for Bradford Company is presented here. Additional information: 1. Inventory at the beginning of 2013 was $330,000. 2. Accounts receivable at the beginning of 2013 were $80,000...

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Q: Horizontal analysis (trend analysis) percentages for Roswell Company’s sales revenue

Horizontal analysis (trend analysis) percentages for Roswell Company’s sales revenue, cost of goods sold, and expenses are listed here. Explain whether Roswell’s...

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Q: Suppose selected financial data of Edgewater Company and The Ritter Company for

Suppose selected financial data of Edgewater Company and The Ritter Company for 2014 are presented here (in millions). Instructions: (a) For each company, compute the following ratios. (1) Current r...

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Q: Agler Company specializes in manufacturing motorcycle helmets. The company has enough

Agler Company specializes in manufacturing motorcycle helmets. The company has enough orders to keep the factory production at 1,000 motorcycle helmets per month. Agler’s monthly man...

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Q: Elliott Company, a manufacturer of tennis rackets, started production in

Elliott Company, a manufacturer of tennis rackets, started production in November 2013. For the preceding 5 years, Elliott had been a retailer of sports equipment. After a thorough survey of tennis ra...

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Q: Incomplete manufacturing costs, expenses, and selling data for two different

Incomplete manufacturing costs, expenses, and selling data for two different cases are as follows. Instructions: (a) Indicate the missing amount for each letter. (b) Prepare a condensed cost of good...

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Q: The following data were taken from the records of Moxie Company for

The following data were taken from the records of Moxie Company for the year ended December 31, 2014. Instructions: (a) Prepare a cost of goods manufactured schedule. (Assume all raw materials used...

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Q: Ortiz Company is a manufacturer of toys. Its controller resigned in

Ortiz Company is a manufacturer of toys. Its controller resigned in August 2014. An inexperienced assistant accountant has prepared the following income statement for the month of August 2014. Prior...

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Q: Ling Company reports the following information for the year ended December 31

Ling Company reports the following information for the year ended December 31, 2014: sales revenue $1,000,000, cost of goods sold $700,000, operating expenses $200,000, and an unrealized gain on non-t...

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