BE 9.07 – Kiddie World
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Estimate ending inventory and cost of goods sold. (Avg Cost Retail Method)
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Estimate ending inventory and cost of goods sold. (Avg Cost Retail Method)
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Given the beginning inventory, net purchases, freight-in, markups, markdowns, spoilage, sales, and discounts… calculate the ending inventory and cost of goods sold using the conventional method.
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What is the effect of the change on cost of goods sold. (LIFO to FIFO).
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Given ending inventory for both years… find the retained earnings for the beginning of next year.
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Agree or disagree and state accounting concept applied.
Given the granted restricted stock, years until terminated, and the market price per share… calculate the total compensation while also determining the effect on earnings.
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Given the amount of granted options, the purchased shares, years until vesting, market price per share, and the fair value… determine the total compensation along with the effect on earnings.
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Given the granted options, common shares purchased, the years till vesting, market value, fair value, and now provide a forfeiture… determine the effect on earning in two consecutive years.
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Given notes and when they are callable… find what they should be reported as (long-term or current).
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Given the amount borrowed, interest rate, and number of payments they ask you to determine the annual payment amount, prepare an amortization schedule, and prepare a journal entry.
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