E6-40B – Reaching Budget (XYZ Industries)
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Determine how much inventory should be purchased during the upcoming year to reach budget.
Calculator Preview
Your numbers will vary.
Determine how much inventory should be purchased during the upcoming year to reach budget.
Your numbers will vary.
Given the information on inventory, net purchases and sales, and gross profit percent – estimate cost of inventory and find another reason managers use gross profit method to estimate inventory.
Your numbers will vary.
Given the self-storage information – find the capitalized cost of land, land improvements, and building.
Your numbers will vary.
Given the truck cost and notes payable – find the accrued interest, final payment, and interest expense for both years.
Your numbers will vary.
Given the purchased inventory cost and the short-term note payable – prepare the entry for inventory interest, and note plus interest.
Your numbers will vary.
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.
Your numbers will vary.
Given the transactions on the subscriptions – journalize the transactions and make the balance sheet.
Your numbers will vary.
Given the annual payroll. payroll tax expense and owed, and salaries owed – prepare the income statement and balance sheet.
Your numbers will vary.
Given the complete transactions – create a balance sheet.
Your numbers will vary.
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.
Your numbers will vary.