BE 04.18 – Tuohy Incorporated & Oher Corporation
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given cash, total assets, and total liabilities for two companies… calculate the ratio of cash to noncash assets.
Given cash, total assets, and total liabilities for two companies… calculate the ratio of cash to noncash assets.
Given a percent discount along with purchased advertising… record both transactions.
Given the estimated uncollectible accounts along with actual bad debts… record the write-off while also calculating the balance in the uncollectible accounts.
Given the write-offs on a customer account along with the amount paid… record the cash collection.
Given a table with face value, rates, the fraction of year, and interest for different notes… fill in the missing information.
Given a grid of revenues, cost of goods sold, gross profit, operating expenses, and net income… fill in the missing amounts.
Given beginning inventory, two purchases, units purchased unit cost, and the total cost… calculate ending inventory under FIFO inventory system.
Given the beginning, purchases, unit cost, total cost, and amount sold… calculate the ending inventory and cost of goods sold using the LIFO inventory system.
Given the beginning inventory, purchases, units, unit cost, and units sold… calculate the ending inventory and cost of goods sold using weighted-average cost. This is ONLY for the weighted-average cost method. This is NOT for LIFO, this is NOT for FIFO.
Given the beginning inventory, purchases, unit cost, and actual sales… calculate the ending inventory and cost of goods sold using a specific identification inventory system.