Exercise 2.09 – Lisa Laskowski Company (Average Selling Price)
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Given common stock, paid-in capital in excess, retained earnings, and total equity… calculate the average selling price.
Given common stock, paid-in capital in excess, retained earnings, and total equity… calculate the average selling price.
Given the beginning inventory, ending inventory, and cost of goods sold they ask you to determine the purchases that were made during the year.
Given information about the warranty, percent defective, repair costs, and sales of a product… determine the liability for the warranties.
Given a description of an inventory purchase and sale… determine what accounts would be debited.
Given purchase price, the fair value of assets, and the fair value of liabilities… determine the amount of goodwill on the purchase.
Given the purchase price, estimated life, residual value, and selling price… determine the book value of the machine.
Given the purchase price, estimated life, residual value, selling price, and accumulated depreciation… determine the gain or loss on the sale.
Given the bond issue price, bond percent, bong length, selling price, and interest rate… determine what the interest expense would be.
Given the business investment, the cost of the land, the expenses, the sold medical supplies, and the note payable… prepare the journal for the first month of transactions.
Given the amount, percent, and length of a note… determine the total cash paid at maturity.