Adie, Miles, Auer Used Cars
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Gives a accounts receivable and the estimated amount not collected and asks what the accounts receivable would be valued at.
Gives a accounts receivable and the estimated amount not collected and asks what the accounts receivable would be valued at.
This is the easier of two versions. The only info given is sales commission %, inventory shipped, amount sold at cost and retail. Asks what amount of inventory the company reports at year-end?
Your numbers will vary.
They tell you they deposit money into a bond sinking fund at the end of each year for a few years and asks what it will accumulate to.
Your numbers will vary.
They tell you an investor purchases a $1000 par value bond that pays semiannual interest and they ask you the current market value of the bond.
Your numbers will vary.
They tell you the company wishes to earn a return on their investment and asks the number of years it will take.
Your numbers will vary.
They sell an asset and buyer agrees to make annual payments and they ask for the amount of the annual payment beginning on date of sale.
Your numbers will vary.
They give you the bundle price and the sold separate prices of a computer and a one year maintenance agreement and asks for the revenue for the first month.
Your numbers will vary.
They tell you Taylor provides handyman services to King and asks the amount of revenue for the first year.
Your numbers will vary.
Given the firm’s pretax accounting income, its overweight fines, and depreciation expense in both the income statement and tax return, determine if the firm has a deferred tax asset or deferred tax liability and whether it is a current or noncurrent item.
Your numbers will vary.
Determine what the company should disclose in its income statement in relation to its income tax expense.
Your numbers will vary.