BE 06.10 – Shankar Company
Financial Accounting
Spiceland, Thomas, and Herrman
05th Edition and 06th Edition
Given the amount that inventory was purchased and sold… record the transactions under the perpetual inventory system.
Given the amount that inventory was purchased and sold… record the transactions under the perpetual inventory system.
Given the amount that inventory was purchased for and the amount of freight charges…. record the transactions under the perpetual inventory system.
Your numbers will vary.
Given units purchased, total purchase price, price per unit, and defective units… record the purchase and return under a perpetual inventory system.
Your numbers will vary.
Given the inventory purchase price and terms of the purchase… record the purchase and the payment under the perpetual inventory system.
Your numbers will vary.
Given a chart with quantity, unit cost, and NRV of jackets and skis… complete a chart calculating ending inventory.
Your numbers will vary.
Given a chart for camera and speakers quantity, unit cost, and NRV… complete a chart calculating ending inventory.
Your numbers will vary.
Record the issuance of the note payable and the first monthly payment.
Your numbers will vary.
What amount of interest expense will be recorded?
Your numbers will vary.
Calculate the debt to equity ratio, return on assets ratio, and the times interest earned ratio.
Your numbers will vary.