Exercise 2.20 – Boilermaker House Painting Company
Financial Accounting
Spiceland, Thomas, and Herrman
Given a list of transactions… record each transaction, post each transaction to T-accounts, then prepare a trial balance.
Given a list of transactions… record each transaction, post each transaction to T-accounts, then prepare a trial balance.
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.
Given details about the issuing of a bond… determine whether the bonds are issued at par, premium, or discount given different market rates.
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.
(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.
Given a list of transactions regarding the buying and selling of common stock, preferred stock, and treasury stock… record each entry along with determining the effect of each on assets, liabilities, and stockholders’ equity.