Exercise 11.06 – Bert’s Bargain House
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Analyze four transactions and indicate in which section each item would be reported for Ernie’s Electronics.
Analyze four transactions and indicate in which section each item would be reported for Ernie’s Electronics.
Calculate the net cash flows from financing activities for Marigold. Include cash received from collections from customers, interest on notes receivable, collection of notes receivable, sale of investments, and issuance of notes payable. Also include cash paid for the purchase of inventory, interest on notes payable, purchase of equipment, salaries to employees, payment of notes payable, and dividends to shareholders. Make sure to indicate amounts to be deducted with a minus sign.
Your numbers will vary.
Calculate net cash flows.
Your numbers will vary.
Calculate net cash flows from financing.
Your numbers will vary.
Calculate cash received and cash paid.
Your numbers will vary.
Calculate the return on assets.
Your numbers will vary.
Determine the proper classification of income statement items.
Calculate the correct ending balance of cash for Ballet Shoes on August 31 by preparing a bank reconciliation. Record the necessary entry or entries to adjust the balance for cash.
Your numbers will vary.
Given details on the issuance of a bond… calculate the issue price along with determining whether it is issued at a discount, par, or premium.
Your numbers will vary.