Minhajur Rahaman
Principals of Accounting Solutions
Problem-2: Job Order Costing
For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following d...
Problem-3: Budgetary Planning
Hill Industries had sales in 2020 of $6,800,000 and gross profit of $1,100,000. Management is consid...
Problem-04: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Ven Corporation had the following stockholders equity accounts
Common Stock (...
Problem-17: Financial Statement Analysis
Selected Comparative statements data for Queen products company are presented below. All balance she...
Problem-21: Process Costing
Remington Inc. is contemplating the use of process costing to track the cost of its operations. The ...
Problem-14: Managerial Accounting
Manufacturing cost data for Copa Company are presented below.
Instructions
Indicate the missing ...
Problem-24: Accounting for Merchandising Operations
The trial balance of A. Wiencek Company at the end of its fiscal year, August 31, 2019, includes the...
Problem-8: Accounting for Receivables
Winter Company's balance sheet at December 31, 2020, is presented below.
During January 2021, the...
Problem-14: Budgetary Planning
Rodriguez, Inc, is preparing its direct labor budget for 2020 from the following production budget b...
Problem-6: Adjusting the Accounts
Johnson Graphics Company was organized on January 1, 2019, by Cameron Johnson. At the end of the fir...
Problem-9: Budgetary Control and Responsibility Accounting
Using the information in E24-3, assume that in July 2020, Myers Company incurs the following manufac...
Problem-03: Current Liabilities and Payroll Accounting
Mann Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours ...
Problem-18: Standard Costs and Balanced Scorecard
The following direct materials and drict labor data pertain to the operations of Laurel Company for ...
Problem-1: Accounting for Merchandising Operations
Kern's Book Warehouse distributes hardcover looks to retail stores and extends credit terms of 2/10,...
Problem-8: Budgetary Planning
Thome and Crede, CPAs, are preparing their service revenue budget for the coming year (2020). The pr...
Problem-7: Budgetary Control and Responsibility Accounting
Crede Company budgeted selling expenses of $30,000 in January, $35,000 in February, and $46,000 in M...
Problem 13: Incremental Analysis and Capital Budgeting
Veronica Mars, a recent graduate of Bell's accounting program, evaluated the operating performance o...
Problem-05: Long-Term Liabilities
Presented below are three different lease transactions that occurred for Ruggiero Inc. in 2020. Assu...
Problem-22: Budgetary Control and Responsibility Accounting
The South Division of Wiig Company reported the following data for the current year.
Problem-4: Inventories
The management of Gresa Inc. is reevaluating the appropriateness of using its present inventory cost...
Problem-14: Adjusting the Accounts
A partial adjusted trial balance of Frangesch Company at January 31, 2019, shown as following.
Fran...
Problem-03: Financial Statement Analysis
Condensed balance sheet and income statement data for Landwehr Corporation appear below.
Addition...
Problem-14: Standard Costs and Balanced Scorecard
Monte Services, Inc. is trying establish the standard labor cost a typical oil change. The following...
Problem-19: Accounting Information Systems
Tresh Products uses both special journals and a general journal. Tresh also posts customers accounts...
Problem-7: Standard Costs and Balanced Scorecard
Using the information in P25-1A, compute the overhead controllable variance and the overhead volume ...
Problem-4: Adjusting the Accounts
A review of the ledger of Remina Company at December 31, 2019, produces the following data pertainin...
Problem-13: Current Liabilities and Payroll Accounting
Suppose the following financial data were reported by $3M Company for 2019 and 2020
3M CompanyBala...
Problem-06: Process Costing
Hamilton processing Company uses a weighted average process cost system and manufactures a single pr...
Problem-12: Corporations: Organization and Capital Stock Transactions
On January 1, 2021, the stockholders equity section of Newlin Corporation shows common stock ($5 par...
Problem-20: Plant Assets, Natural Resources and intangible Assets
On July 1, 2019, Friedman Inc. invested $720,000 In a mine estimated to have 900,000 tons of ore of ...
Problem-2: Completing the Accounting Cycle
The adjusted trial balance columns of the worksheet for Thao Company, owned by D. Thao, are as follo...
Problem-16: Job Order Costing
The following are the job cost related accounts for the law firm of Colaw Associates and their manuf...
Problem-10: Adjusting the Accounts
The ledger of Passehl Rental Agency on March 31 of the current year includes the selected accounts, ...
Problem-15: Accounting Information Systems
Hasselback Company has the following selected transactions during March.
Mar. 2Purchased equipment ...
Problem-22: Completing the Accounting Cycle
Victoria Lee Company had the following adjusted trial balance
Victoria Lee Company Adjusted Trial B...
Problem-11: The Recording Process
Teresa Alvarez has prepared the following list of statements about the general ledger:
The genera...
Problem-11: Budgetary Control and Responsibility Accounting
The actual selling expenses incurred in March 2020 by Fallon Company are as follows.
Problem-24: Statement of Cash Flows
Comparative balance sheets for International Company are presented below
International CompanyCompa...
Problem-25: Inventories
The cost of goods sold computations for Sooner company and Later Company are shown as below
Instr...
Problem-04: Corporations: Organization and Capital Stock Transactions
Peck Corporation is authorized to issue 20,000 shares of $50 par value, 10% preferred-stock and 125,...
Problem-18: Job Order Costing
Tombert Decorating uses a job order cost system to collect the cost of its interior decorating busin...
Problem-23: Inventories
Charapata Company applied FIFO to its inventory and got the following results for its ending invento...
Problem-22:Cost Volume Profit
Montier Corporation produces one product. Its cost includes direct materials, direct labor, variable...
Problem-16: Plant Assets, Natural Resources and intangible Assets
Linton Company purchased a delivery truck for $34,000 on January 1, 2019. The truck has an expected ...
Problem-1: Job Order Costing
Lott Company uses a job order cost system and applies overhead to productions on the basis of direct...
Problem-22: Accounting for Receivables
Kerwick Company had accounts receivable of $100,000 on January 1, 2020. the only transactions that a...
Problem-12: Plant Assets, Natural Resources and intangible Assets
On March 1, 2019, Westmorian Company acquired real estate on which it planned to construct a small o...
Problem-16: Budgetary Planning
Atlanta Company is preparing its manufacturing overhead budget for 2020. Relevant data consist of th...
Business Statistics Solutions
Problem-54: Probability I: Introductory Ideas
EconOcon is planning its company picnic. The only thing that will cancel the picnic is a thunderstor...
Problem-10: Measures of Central Tendency and Dispersion in Frequency Distributions
National Tire Company holds reserve funds in short-term marketable securities. The ending daily bala...
Problem-07: Sampling and Sampling Distributions
An astronomer at the Mount Palomar Observatory notes that during the Gemind meteor shower, an averag...
Problem-14: Measures of Central Tendency and Dispersion in Frequency Distributions
Bennett Distributions Company, a subsidiary of a major appliance manufacture, is forecasting regiona...
Problem-09: Chi-Square and Analysis of Variance
A financial consultant is interested in the differences in capital structure within different firm s...
Problem-11: Measures of Central Tendency and Dispersion in Frequency Distributions
M. T. Smith travels the eastern United States as a sales representative for a textbook publisher. Sh...
Problem-18: Measures of Central Tendency and Dispersion in Frequency Distributions
The Nelson Window Company has manufacturing plants in five U.S. cities Orlando, Minneapolis, Dallas,...
Problem-40: Chi-Square and Analysis of Variance
The standard deviation of a distribution is hypothesized to be 50. If an observed sample of 30 yield...
Problem-19: Testing Hypotheses: Two Sample Tests
Nine computer-components dealers in major metropolitan areas were asked for their prices on two sim...
Problem-16: Chi-Square and Analysis of Variance
Louis Armstrong, salesman for the Dillard Paper Company, has five accounts to visit per day. It is s...
Problem-89: Probability I: Introductory Ideas
Airlines serve as ''flagship carriers'' in Europe, and for symbolic and strategic reasons, many have...
Problem-41: Probability I: Introductory Ideas
Assume that for two events A and B, P(A) = 0.80, P(A|B) = P(A), and P(C|A) = 0.85. Is this a consist...
Problem-35: Probability Distributions
Southwestern Electronic has developed a new calculator that performance a series of functions not ye...
Problem-05: Quality and Quality Control
Dick Burney is director of 911 emergency medical services in Ann Arbor, Michigan. He is concerned ab...
Problem-31: Testing Hypotheses: One Sample Tests
Before the 1973 oil embargo and subsequent increases in the price of crude oil, gasoline usage in th...
Problem-70: Probability Distribution
The Virginia Department of Health and Welfare publishes a pamphlet, A Guide to selecting your Doctor...
Problem-59: Measures of Central Tendency and Dispersion in Frequency Distributions
The New Mexico State Highway Department is charged with maintaining all state roads in good conditio...
Problem-16: Testing Hypotheses: One Sample Tests
If our goal is to accept a null hypothesis that μ = 36.5 with 96 percent certainty when it’s true, a...
Problem-70: Testing Hypotheses: One Sample Tests
Assuming that the population is approximately normally distributed, is it reasonable to conclude, at...
Problem-16: Estimation
The school board of For sight County considers its most important task to be keeping the average cla...
Problem-49: Chi-Square and Analysis of Variance
In our study of comparisons between the means of two groups, it was noted that the most
common form...
Problem-54: Probability Distribution
The Nobb Door Company manufactures doors for recreational vehicles.
Problem-36: Measures of Central Tendency and Dispersion in Frequency Distributions
The following data represent weights of gamefish caught on the charter boat Slickdrifter:
Problem-17: Sampling and Sampling Distributions
Jonida Martinez, researcher for the Columbian Coffee Corporation, is interested in determining the r...
Problem-11: Testing Hypotheses: Two Sample Tests
Connie Rodrigues, the Dean of Students at Midstate College, is wondering about grade distributions a...
Problem-54: Testing Hypotheses: One Sample Tests
Many cities have adopted High Occupancy Vehicle (HOV) lanes to speed commuter traffic to downtown bu...
Problem-33: Grouping and Displaying data to convey meaning
Here is a frequency distribution of the length of phone calls made by 175 people during a Labor Day ...
Problem-18: Sampling and Sampling Distributions
From a population of 75 items with a mean of 364 and a variance of 18, 32 items were randomly select...
Problem-05: Sampling and Sampling Distributions
In a normal distribution with mean 56 and standard deviation 21, how large a sample must be taken so...
Problem-7: Testing Hypotheses: One Sample Tests
A grocery store has specially packaged oranges and has claimed a bag of oranges will yield 2.5 quart...
Problem-42: Probability Distribution
In a normal distribution with a standard deviation of 5.0, the probability that an observation selec...
Problem-21: Measures of Central Tendency and Dispersion in Frequency Distributions
The Growth in bad-debt expense for Johnston Office Supply Company over the last few follows. Calcula...
Problem-01: Probability Distributions
Construct a probability distribution based on the following frequency distribution.
Outcome10210510...
Problem-39: Testing Hypotheses: One Sample Tests
MacroSwift estimated last year that 35 percent of potential software buyers were planning to wait to...
Problem-39: Chi-Square and Analysis of Variance
LWP is a large multinational company, having more than 2000 employees under its payroll. The managem...
Problem-50: Grouping and Displaying data to convey meaning
A behavioral researcher studying the success of college students in their careers conducts interview...
Problem-13: Testing Hypotheses: Two Sample Tests
A large stock-brokerage fi rm wants to determine how successful its new account executives have been...
Problem-45: Probability Distribution
The Gilbert Machinery Company has received a big order to produce electric motors for a manufacturin...
Problem-21: Chi-Square and Analysis of Variance
Dennis Barry, a hospital administrator, has examined past records from 210 randomly selected 8-hour ...
Problem-44: Chi-Square and Analysis of Variance
A psychologist is aware of studies showing that the variability of attention spans of 5-year olds ca...
Problem-50: Measures of Central Tendency and Dispersion in Frequency Distributions
Here are student scores on a history quiz. Find the 80th percentile.
Problem-12: Quality and Quality Control
Todd Olmstead is the Meals-on-Wheels dispatcher for the Atlanta metropolitan area. He wants meals de...
Problem-13: Estimation
Because the owner of the Bard’s Nook, a recently opened restaurant, has had difficulty estimating th...
Problem-58: Chi-Square and Analysis of Variance
For the following contingency table, calculate the observed and expected frequencies and the
chi-sq...
Problem-61: Probability Distribution
Label the following probability distributions as discrete or continuous.
Problem-42: Testing Hypotheses: Two Sample Tests
General Cereals has just concluded a new advertising campaign for Fruit Crunch, its allnatural break...
Problem-48: Testing Hypotheses: Two Sample Tests
A chemist developing insect repellents wishes to know whether a newly developed formula gives greate...
Problem-55: Chi-Square and Analysis of Variance
Two brand managers were in disagreement over the issue of whether urban homemakers had
greater vari...
Problem-12: Measures of Central Tendency and Dispersion in Frequency Distributions
Lillian Tyson has been the chairperson of the country library committee for 10 years. She contends t...
Problem-43: Testing Hypotheses: Two Sample Tests
Ben & Jerry's Homemade, inc. is an unconventional manufacturer of super-premium ice cream known for ...
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Most Reading Solutions
Problem-5: Completing the Accounting Cycle
Anya Clark opened Anya's Cleaning Service on July 1, 2019. During July, the following transactions w...
Problem-5: Adjusting the Accounts
On Nobember 1, 2019, the account balances of Hamm Equipment Repair were as follows
During Novembe...
Problem-1: Completing the Accounting Cycle
The trial balance columns of the worksheet for Wareen Roofing at March 31, 2019, are as follows.
Wa...
Problem-2: Accounting for Merchandising Operations
Renner Hardware Store completed the following merchandising transactions in the month of May. At the...
Problem-2: The Recording Process
Emily Valley is a licensed dentist. During the first month of the operation of her business, the fol...
Problem-1: Adjusting the Accounts
Logan Krause started her own consulting firm, Krause Consulting, on May 1, 2019. The trial balance a...
Problem-2: Adjusting the Accounts
Mac's Motel opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as ...
Problem-3: The Recording Process
Maquoketa Services was formed on May 1, 2018. The following transactions took place during the first...
Problem-5: Accounting for Merchandising Operations
The trial balance of Gaolee Fashion Center contained the following accounts at November 30, the end ...
Problem-1: Accounting in Action
On April 1, Julie Spengel established Spengel's Travel Agency. The following transactions were compl...
Problem-5: The Recording Process
The Starr Theater, owned by Meg Vargo will begin operation in March. The Starr will be unique in tha...
Problem-1: Accounting for Merchandising Operations
Kern's Book Warehouse distributes hardcover looks to retail stores and extends credit terms of 2/10,...
Problem-1: The Recording Process
Holz Disc Golf Course was opened on March 1 by Ian Holz. The following selected events and transacti...
Problem-2: Completing the Accounting Cycle
The adjusted trial balance columns of the worksheet for Thao Company, owned by D. Thao, are as follo...
Problem-5: Inventories
You are provided with the following information for Koetteritz Inc. for the month ended June 30, 201...
Problem-8: Accounting for Merchandising Operations
At the beginning of the current season on April, the ledger of Gage Pro Shop showed Cash $3,000. Inv...
Problem-2: Accounting in Action
Judi Salem opened a law office on July 1, 2018. On July 31, the balance sheet showed Cash $5,000, Ac...
Problem-10: Adjusting the Accounts
The ledger of Passehl Rental Agency on March 31 of the current year includes the selected accounts, ...
Problem-3: Accounting for Merchandising Operations
Big Box Store is located in midtown Madison. During the past several years, net income has been decl...
Problem-6: Adjusting the Accounts
Johnson Graphics Company was organized on January 1, 2019, by Cameron Johnson. At the end of the fir...
Problem-5: Plant Assets, Natural Resources and intangible Assets
At December 31, 2019, Grand Company reported the following as plant assets.
During 2020, the foll...
Problem-4: Accounting in Action
Trixie Maye started her own consulting firm, Matrix Consulting, on May 1, 2018. The following transa...
Problem-3: Adjusting the Accounts
Alena Co. was organized on July 1, 2019. quarterly financial statements are prepared. The unadjusted...
Problem-4: Accounting for Merchandising Operations
Yolanda Hagen, a former disc golf star, operates Yolanda's Discorama. At the beginning of the curren...
Problem-2: Plant Assets, Natural Resources and intangible Assets
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in th...
Problem-10: Accounting for Merchandising Operations
On September 1, Nixa Office Supply had an inventory of 30 calculators at a cost of $18 each. The com...
Problem-2: Inventories
Glee Distribution markets CDs of the performing artist Unique. At the beginning of October, Glee had...
Problem-1: Accounting for Receivables
At December 31, 2018, House Co. reported the following information on its balance sheet.
Accounts r...
Problem-15: Inventories
Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts, Information rela...
Problem-4: Accounting Information Systems
Selected accounts from the chart of accounts of Mercer Company are shown below
101 Cash112 Accoun...
Problem-01: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Geffrey Corporation had the following stockholders equity accounts.
Common St...
Problem-01: Current Liabilities and Payroll Accounting
On January 1, 2020, the ledger of Accardo Company contains the following liability accounts.
Accoun...
Problem-8: Inventories
Dempsey Inc is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method...
Problem-8: Adjusting the Accounts
Devin Wolf Company has the following balances in selected accounts on December 31, 2019
All the a...
Problem-4: The Recording Process
The trial balance of Avtar Sandhu Co. Shown below does not balance
AVTAR SANDHU CO.Trial BalanceJun...
Problem-3: Plant Assets, Natural Resources and intangible Assets
On January 1, 2019, Evers Company purchased the following two machines for use in its production pro...
Problem-3: Accounting Information Systems
The chart of accounts of LR Company includes the following selected accounts.
112 Accounts Receiv...
Problem-02: Current Liabilities and Payroll Accounting
The following are selected transactions of Blanco Company. Blanco prepares financial statements quar...
Problem-3: Completing the Accounting Cycle
The completed financial statement columns of the worksheet for Bray Company are shown as follows.
B...
Problem-4: Completing the Accounting Cycle
Vang Management Services began business on January 1, 2019, with a capital investment of $120,000. t...
Problem-3: Accounting for Receivables
Presented below is an aging schedule for Halleran Company.
At December 31, 2019, the unadjusted b...
Problem-1: Accounting Information Systems
Kozma Company's chart of accounts includes the following selected accounts.
101 Cash112 Accounts ...
Problem-9: Accounting for Merchandising Operations
Information related to Kerber Co. is presented below
On April 5, purchased merchandise from Wilkes ...
Problem-17: Inventories
Moath Company reports the following for the month of June.
Instructions
Compute the cost of en...
Problem-4: Adjusting the Accounts
A review of the ledger of Remina Company at December 31, 2019, produces the following data pertainin...
Problem-1: Job Order Costing
Lott Company uses a job order cost system and applies overhead to productions on the basis of direct...
Problem-3: Accounting in Action
On June 1, Cindy Godfrey started Divine Designs Co., a company that provides cash opportunities by i...
Problem-16: Plant Assets, Natural Resources and intangible Assets
Linton Company purchased a delivery truck for $34,000 on January 1, 2019. The truck has an expected ...
Problem-01: Long-Term Liabilities
On May 1, 2019, Herron Corp. issued $600,000, 9%, 5-year bonds at face value. The bonds were dated M...
Problem-01: Corporations: Organization and Capital Stock Transactions
DeLong Corporation was organized on January 1, 2020. It is authorized to issue 10,000 shares of 8%, ...
Completing the Accounting Cycle Adjusting the Accounts Accounting for Merchandising Operations The Recording Process Accounting in Action Inventories Plant Assets, Natural Resources, and Intangible Assets Accounting for Receivables Accounting Information Systems Corporations: Dividends, Retained Earnings, and Income Reporting Current Liabilities and Payroll Accounting Job Order Costing Long-Term Liabilities Corporations: Organization and Capital Stock Transactions