E 8.18 – Causwell Company
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Determine the cost of goods sold for the year using the FIFO and LIFO methods.
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Determine the cost of goods sold for the year using the FIFO and LIFO methods.
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Given the truck cost and notes payable – find the accrued interest, final payment, and interest expense for both years.
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Given the purchased inventory cost and the short-term note payable – prepare the entry for inventory interest, and note plus interest.
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Given the accrued warranty payable, sales revenue, percent of sales, and amount paid to satisfy claims – prepare the entry for warranty expense, the income statement, and balance sheet.
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Given the transactions on the subscriptions – journalize the transactions and make the balance sheet.
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Given the annual payroll. payroll tax expense and owed, and salaries owed – prepare the income statement and balance sheet.
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Given the complete transactions – create a balance sheet.
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Given the comparative income statements and balance sheets – find the accounts payable turnover and DPO, and if the liquidity position improved or hurt the company during year two.
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Given the purchased truck cost and note payable – find the interest expense, final payment, and interest expense report.
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Given the transactions for the subscriber – prepare the journal entries and the balance sheet.
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