Problem 3.05 – Boilermaker Unlimited
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Prepare all 4 financial statements.
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Prepare all 4 financial statements.
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Given an adjusted trial balance… prepare an income statement, statement of stockholders’ equity, and classified balance sheet.
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Record closing entries and prepare a post-closing trial balance.
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Given an income statement, statement of stockholders’ equity, and balance sheet… record adjusting entries along with preparing a post-closing trial balance.
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Given a general ledger for the company along with a summary of transactions made… set up t-accounts, record each transaction, post transactions to accounts, prepare an unadjusted trial balance, prepare an income statement, prepare a balance sheet, and record closing entries.
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Given how much you expect to have in the given year(s), and the interest rate… how much can you borrow​ today?
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Given the loan and two interest rates…. determine how much you will save in interest this year.
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How much would you have, and how much money could you borrow today. Then decide if you should borrow from your friend or the bank.
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Given a discount factor, find the discount rate.
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Given the cost of today and in one year with the interest rate… determine the true cost of the TV today.
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