Questions from General Accounting

Q: The following stockholders’ equity accounts, arranged alphabetically, are in the

The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Roder Corporation at December 31, 2014. Common Stock ($2 stated value) …………………………………………………..$1,600,000 Paid-...

Q: Metzger Company completed its first year of operations on December 31,

Metzger Company completed its first year of operations on December 31, 2014. Its initial income statement showed that Metzger had sales revenue of $198,000 and operating expenses of $83,000. Accounts...

Q: Suppose the 2014 income statement for McDonald’s Corporation shows cost of goods

Suppose the 2014 income statement for McDonald’s Corporation shows cost of goods sold $5,178.0 million and operating expenses (including depreciation expense of $1,216.2 million) $10,725.7 million. Th...

Q: The following information is available for Taliaferro Corp. for 2014.

The following information is available for Taliaferro Corp. for 2014. Cash used to purchase treasury stock ………………………………………………..$ 48,100 Cash dividends paid …………………………………………………………………………….21,800 Cash p...

Q: The following information is taken from the 2014 general ledger of Praeger

The following information is taken from the 2014 general ledger of Praeger Company Instructions: In each case, compute the amount that should be reported in the operating activities section of the s...

Q: The information in the table is from the statement of cash flows

The information in the table is from the statement of cash flows for a company at four different points in time (A, B, C, and D). Negative values are presented in parentheses. Instructions: For each...

Q: Cosi Company reported net income of $190,000 for 2014

Cosi Company reported net income of $190,000 for 2014. Cosi also reported depreciation expense of $35,000 and a loss of $5,000 on the disposal of plant assets. The comparative balance sheet shows an i...

Q: The current sections of Sanford Inc.’s balance sheets at December

The current sections of Sanford Inc.’s balance sheets at December 31, 2013 and 2014, are presented here. Sanford’s net income for 2014 was $153,000. Depreciation ex...

Q: The following information is available for Ramos Corporation for the year ended

The following information is available for Ramos Corporation for the year ended December 31, 2014. Beginning cash balance …………………………………………………. $ 45,000 Accounts payable decrease ……………………………………………………3,...

Q: The three accounts shown below appear in the general ledger of Lauber

The three accounts shown below appear in the general ledger of Lauber Corp. during 2014. Instructions: From the postings in the accounts, indicate how the information is reported on a statement of c...