BE 05.16 – Oberley Corporation
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given information on a loan that was lent out… calculate the interest revenue for two years.
Given information on a loan that was lent out… calculate the interest revenue for two years.
Given the allowance for uncollectible accounts, the estimated future uncollected accounts, and lastly the credit sales… record the bad debt expense.
Given a grid of revenues, cost of goods sold, gross profit, operating expenses, and net income… fill in the missing amounts.
Given beginning inventory, two purchases, units purchased unit cost, and the total cost… calculate ending inventory under FIFO inventory system.
Given the beginning, purchases, unit cost, total cost, and amount sold… calculate the ending inventory and cost of goods sold using the LIFO inventory system.
Given the beginning inventory, purchases, units, unit cost, and units sold… calculate the ending inventory and cost of goods sold using weighted-average cost. This is ONLY for the weighted-average cost method. This is NOT for LIFO, this is NOT for FIFO.
Given the beginning inventory, purchases, unit cost, and actual sales… calculate the ending inventory and cost of goods sold using a specific identification inventory system.
Given the amount that inventory was purchased and sold… record the transactions under the perpetual inventory system.
Given the amount that inventory was purchased for and the amount of freight charges…. record the transactions under the perpetual inventory system.
Given units purchased, total purchase price, price per unit, and defective units… record the purchase and return under a perpetual inventory system.