Problem 8.03A – Caribbean Tours
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition
Given withholdings, fringe benefits, and taxes… prepare journal entries for salaries, benefits, and payroll taxes.
Given withholdings, fringe benefits, and taxes… prepare journal entries for salaries, benefits, and payroll taxes.
Given information regarding payroll and the taxes paid… record the salaries, withholdings, benefits, and taxes.
Given the seating capacity, home games, and ticket sales… determine the price of a season ticket, individual game ticket, and lastly ask you to record revenue recognized after a home game.
Given information regarding the selling of gift cards… record the sale along with determining the deferred revenue balance.
Given three different contingencies… record any results if necessary.
Given three different situations… determine the amount that should be reported along with recording necessary entries.
Given the current assets and current liabilities of the two companies… calculate the current ratio and acid-test ratio along with determining who has the better ratios.
Given information regarding the purchase of an office… record the purchase of the building, complete the first three rows of the amortization schedule, record the first monthly mortgage and interest, and lastly determine the amount of interest that is in the actual payment of the loan.
Given the amount borrowed from a local bank and the amount of payments… record the cash received along with preparing an amortization schedule.
Given information about a note and debt to equity requirements… calculate stockholders’ equity, determine debt to equity ratio, record the lease, and determine whether entering the lease would violate a contractual agreement.