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.
Calculate the operating cash flow, prepare an income statement, and determine receivables.
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.
Given the situations the company faced… determine the required journal entry along with the equipment’s book value.
Given the information on the trial balance, determine the adjusted and unadjusted trial balance for the prepaid rent and rent expense.
Given the trial balances, determine the sales revenue, insurance expense, and other operating expenses.
Given the data regarding retail and cost of inventory… calculate the ending inventory and cost of goods sold.
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.
Given a purchase that was recorded in the wrong year… prepare a journal entry for the adjustment.
Given the Inventory purchases that are incorrectly charged, and the merchandise the company failed to include… find the retained earnings, and inventory.
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.