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.
Calculator Preview
Your numbers will vary.
Given information on a loan that was lent out… calculate the interest revenue for two years.
Your numbers will vary.
Given the allowance for uncollectible accounts, the estimated future uncollected accounts, and lastly the credit sales… record the bad debt expense.
Your numbers will vary.
Given the amount that inventory was purchased for and the amount of freight charges…. record the transactions under the perpetual inventory system.
Your numbers will vary.
Given units purchased, total purchase price, price per unit, and defective units… record the purchase and return under a perpetual inventory system.
Your numbers will vary.
Given the inventory purchase price and terms of the purchase… record the purchase and the payment under the perpetual inventory system.
Your numbers will vary.
Given a chart with quantity, unit cost, and NRV of jackets and skis… complete a chart calculating ending inventory.
Your numbers will vary.
Given a chart for camera and speakers quantity, unit cost, and NRV… complete a chart calculating ending inventory.
Your numbers will vary.
Match the given transactions to its financial statement.
Given the balance in the allowance uncollectible account, the balance of accounts receivable, and the percent not collected… record the allowance of uncollectible accounts.
Your numbers will vary.
Find whether Falcon would report the account as a balance sheet or income statement. Whether it would be an asset, liability, or stockholders’ equity. Whether it would be a revenue or an expense. Whether the transactions are classified as operating, investing, or financing activity.