S7-14 – Depreciation (Concession Stand)
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Record depreciation for the concession stands for year five using the straight-line method.
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Record depreciation for the concession stands for year five using the straight-line method.
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Given the information on the oil company – find the depreciation method, the entry for removing barrels, and cost of sales entry.
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Given the information on the report – find the return on assets.
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Given the information on the garden supply company — create a schedule for each individual assets then create a journal entry.
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Given purchased companies, capital expenditures, sold operations, and net income – create a statement of cash flows.
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Determine the total purchases during the year given inventory and COGS.
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Given accounts payable, sales revenue, and COGS — find the days payable outstanding.
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Given the purchased inventory costing and the short-term note payable — prepare the journals for the purchase of inventory and accrual of interest.
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Given the purchased inventory cost and the short-term note payable — prepare the journal entry for the purchase of inventory and payment of the note.
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Given the debenture bonds outstanding, unamortized discount, and price of bonds – find the gain/loss on retirement of bonds and how it would be shown in the financial statements.
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