E 8.03 – Askew Company
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given a list of debits and credits along with ending inventory… find the costs of goods sold.
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Given a list of debits and credits along with ending inventory… find the costs of goods sold.
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Given a list of information regarding the company… prepare a journal entry for the transactions under both perpetual and periodic inventory systems.
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Given a list of records for three consecutive years… find the missing numbers.
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Given a list of transactions… calculate the correct inventory balance that would be reported on the balance sheet.
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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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Match the reporting method for each item.
Gives an amount borrowed on a loan and an interest rate. Asks for 3 journal entries.
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Record the issuance of note, the adjustment for note, payment of the note.
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Determine the amount of interest expense that should be recorded.
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