Exercise 12.08 – Plasma Screens Corporation
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Calculate the profitability and determine if one can have a higher return on assets
Calculate the profitability and determine if one can have a higher return on assets
Calculate profitability ratios and determine the amount of dividends paid.
Calculate the return on assets.
Determine the proper classification of income statement items.
Prepare the multiple-step income statement for LeBron’s Bookstores
Prepare the income statement for Shaquille Corporation.
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.
Compare installment notes and loans. Determine whether Paradise Partners should purchase the equipment with an installment note or lease it, based on the financial implications and the equipment’s value at the end of the 24-month period. Compare the effects on the company’s reported debt and make a decision.
(7 Part) Given the account balances and transactions… record each transaction, record adjusting entries, prepare a trial balance, prepare an income statement, prepare a balance sheet, record closing entries, and analyze financial ratios.