BE 02.03 – Local Company & Missing Balance Sheet Amounts
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given balance sheet accounts… calculate the missing amounts.
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Given balance sheet accounts… calculate the missing amounts.
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Given transactions (truck, supplies, rent)… record each.
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Given a list of transactions… record each. (Music lessons, insurance, equipment, Note, etc.)
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Given a trial balance with incorrect inputs… use that information to prepare a properly formatted trial balance.
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Identify the effect, increased or decreased, of the different transactions stated towards the company’s assets and specify the account affected
Given the retained earnings in two consecutive years along with net income… determine the amount of dividends declared.
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Given the amount of common stock and treasury stock… determine the number of outstanding shares.
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Given a data table with account balances… determine the total paid-in capital.
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Given common stock, paid-in capital in excess, retained earnings, and total equity… calculate the average selling price.
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Given the beginning inventory, ending inventory, and cost of goods sold they ask you to determine the purchases that were made during the year.
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