Problem 3.01B – For Each Transaction
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given transactions… determine the amount of revenue or expense under accrual and cash basis.
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Your numbers will vary.
Given transactions… determine the amount of revenue or expense under accrual and cash basis.
Your numbers will vary.
Given information regarding the company’s sales and equipment… prepare to adjust entries.
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Given information about company balances, bank balances, and checks outstanding… prepare a bank reconciliation to calculate the ending balance.
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Given four scenarios… determine the amount of revenue that would be recognized.
Given four scenarios… determine the amount of revenue that would be recognized.
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Given transactions regarding sales allowances and discounts… record the transactions along with preparing a partial income statement.
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Given the membership revenues and accounts receivables for the last two years… determine the allowance of uncollectible accounts along with showing the misstated amount using the direct write-off method.
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Given financial information for the company… record the adjustment for uncollectible accounts, calculate how much assets and expenses are misstated, and lastly determine whether they should prepare new financial statements.
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Given a list of costs incurred during the year…determine the amounts that would be recorded in the land and building accounts.
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Given construction costs that were incurred during the year… determine the amounts that the company should record under land and building accounts.
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