Quiz – Shively Mfg. Co.
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given the sale and cost of equipment, they ask you to determine what the company would report.
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Your numbers will vary.
Given the sale and cost of equipment, they ask you to determine what the company would report.
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Given the amount of salaries owed they ask you to prepare adjusting entries to record accrued salaries, a reversing entry, and an entry to record the payment of salaries.
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Given the amount that merchandise was purchased for along with terms on the sale, they ask you to prepare journal entries for the purchase and invoice.
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Given the amount that land and a warehouse are purchased for along with expenditures related to the purchase, they ask you to determine the amount that the cost of land should be recorded for.
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Find how Somerset should record the transaction for rent.
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Given the inventories and LIFO reserve for two years along with the cost of goods sold, they ask you to prepare an adjusting entry to record the cost of goods sold adjustment along with determining what the cost of goods sold would have been.
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Given the paid utilities, utilities payable, and utilities expense they ask you to determine the balance of utilities at the beginning of the year.
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Given information about selling a software program, they ask you to determine the amount of revenue recognized attributing to the program.
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Report the total current assets of Symphony Stores.
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What would the company report as total shareholders equity?
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