BE 9.13 – Hopyard Lumber
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
What is the effect of the change on cost of goods sold. (LIFO to FIFO).
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What is the effect of the change on cost of goods sold. (LIFO to FIFO).
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Given ending inventory for both years… find the retained earnings for the beginning of next year.
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Given the lost inventory, beginning inventory, purchases, and net sales… calculate the gross profit ratio.
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Given the amount a bond is sold for, the percent, and the bond price… determine the amount that the cash account would be increased by.
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Given the face value and the quoted price… determine the selling price.
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Given the bond amount, percent, years, and price… determine the journal entry that would be recorded.
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Given monthly sales and warranty cost percentage… determine what entry would be recorded.
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Given the amount borrowed, note percent, and length of note… determine what journal entry would be recorded.
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Given the amount bonds are issued for, the percent of the bonds, the length of the bonds, and the bond price … calculate the carrying value of the bonds.
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Given the amount bonds were issued for, the bond percent, the length of the bonds, and the bond price… determine the discount amortized amount.
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