Exercise 9.04 – Vulcan Flyovers
Managerial Accounting
Garrison, Noreen, and Brewer
17th Edition
Prepare a Flexible Budget Performance Report
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Your numbers will vary.
Prepare a Flexible Budget Performance Report
Your numbers will vary.
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.
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Given details about the issuing of a bond… determine whether the bonds are issued at par, premium, or discount given different market rates.
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Given details on the issuance of a bond… calculate the issue price along with determining whether it is issued at a discount, par, or premium.
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(7 Part) Given the account balances and transactions… record each transaction, record adjusting entries, prepare a trial balance, prepare an income statement, prepare a balance sheet, record closing entries, and analyze financial ratios.
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Given a purchase that was recorded in the wrong year… prepare a journal entry for the adjustment.
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Given the Inventory purchases that are incorrectly charged, and the merchandise the company failed to include… find the retained earnings, and inventory.
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Given the purchase price, estimated life, residual value, and then a revised life and residual value… calculate the depreciation expense.
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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.
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Given the beginning inventory with price, the purchases made throughout the month, and the ending inventory… find the cost of inventory at the end of the month using periodic inventory.
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