E1.01 – Law Firm Pete, Pete, & Roy
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Calculate the operating cash flow, prepare an income statement, and determine receivables.
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Calculate the operating cash flow, prepare an income statement, and determine receivables.
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Given the amount of restricted stock units, the market price, and the amount expected to be forfeited… find the total compensation cost and the journal entry.
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Given the situations the company faced… determine the required journal entry along with the equipment’s book value.
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Given the information on the trial balance, determine the adjusted and unadjusted trial balance for the prepaid rent and rent expense.
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Given the trial balances, determine the sales revenue, insurance expense, and other operating expenses.
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Given the data regarding retail and cost of inventory… calculate the ending inventory and cost of goods sold.
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Given data regarding the cost and retail of their inventory … using the conventional retail method – calculate the ending inventory and cost of goods sold along with recalculating the cost-to-retail percentage.
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Given a purchase that was recorded in the wrong year… prepare a journal entry for the adjustment.
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Given the Inventory purchases that are incorrectly charged, and the merchandise the company failed to include… find the retained earnings, and inventory.
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Given the starting inventory with price, inventory purchases, sales through numerous dates, and ending inventory… find the cost of goods sold using FIFO method in a perpetual inventory system.
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