CH 8 & 9 – Smith Corporation, Record Issuance
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Given the bond amount, percent, years, and price… determine the journal entry that would be recorded.
Given the bond amount, percent, years, and price… determine the journal entry that would be recorded.
Given monthly sales and warranty cost percentage… determine what entry would be recorded.
Given the amount borrowed, note percent, and length of note… determine what journal entry would be recorded.
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.
Given the amount bonds were issued for, the bond percent, the length of the bonds, and the bond price… determine the discount amortized amount.
Given the cash investment, office furniture, rent, supplies purchased, salaries, accounts payable, legal service, and dividends paid… create the T-accounts to help determine the ending balance.
Calculate the overall overstatement or understatement of net income.
Calculate the amounts that have been left blank for each situation.
Given the information on the company, prepare closing entries, find how much net income the company earned, and prepare a T-account.
Given the adjustments, prepare the adjusting entries along with the overstatement or understatement if the adjustments weren’t made.