Appendix C Exercise C.06 – GMG Studios
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Asks you to find the accumulated investment by the end of year 3 for Options 1, 2, and 3.
Asks you to find the accumulated investment by the end of year 3 for Options 1, 2, and 3.
Saving for a boat. Asks how much is in the account after several years.
Prepare journal entries, partial balance sheets, evaluate the allowance of uncollectables, create a partial income statement with sales revenues, cost of goods sold, and gross profit. Calculate cost of goods sold and ending inventory using FIFO.
Then, using information about the net realizable value, reestimate the partial income statement and balance sheets. Finally, create a depreciation schedule showing depreciation and book values and record adjusting entries for depreciation and insurance.
Record each transaction, and prepare the shareholders’ equity section of the balance sheet, Prepare the statement of cash flows using the indirect method, and calculate risk ratios and profitability ratios for 2022.
Record closing entries for Badger Corporation. Afterward, prepare a post-closing trial balance.
Lapeer Flour Mills Purchased New Equipment. Record. NOTE: all expenditures are paid in cash for this version.
Given the current age, age wanted to retire, and average % of stock market growth in the past 80 years, find how much you will have after investing X amount of money.
Given the cost from each of two stores, the discount rate, find the present values and which store should purchase from.
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.