Minhajur Rahaman
Principals of Accounting Solutions
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: Managerial Accounting
Bell company, a manufacturer of audio systems, started its production in October 2020. Fort the prec...
Problem-03: Process Costing
Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials...
Problem-14: Current Liabilities and Payroll Accounting
Maria Garza's regular hourly wage rate is $16, and she receives a wage of 1 1/2 times the regular ho...
Problem-18: Standard Costs and Balanced Scorecard
The following direct materials and drict labor data pertain to the operations of Laurel Company for ...
Problem-20: Long-Term Liabilities
The adjusted trial balance for Karr Farm Corporation at the end of the current year contained the fo...
Problem-19: Current Liabilities and Payroll Accounting
Mayberry Company has two fringe benefit plans for its employees.
It grants employees 2 days' vacati...
Problem-18: Process Costing
The polishing Department of Major company has the following production and manufacturing cost data f...
Problem-23: Budgetary Planning
Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the b...
Problem-19: Accounting for Merchandising Operations
In 2019, Laquen Company had net sales of $900,000 and cost of goods sold of $522,000. Operating expe...
Problem-4: The Recording Process
The trial balance of Avtar Sandhu Co. Shown below does not balance
AVTAR SANDHU CO.Trial BalanceJun...
Problem-18: Accounting for Receivables
Elburn Supply Co. has the following transactions related to notes receivable during the last 2 month...
Problem-6: Completing the Accounting Cycle
Casey Hartwig, CPA, was retained by Global Cable to prepare financial statements for April 2019. Har...
Problem-3: Accounting Information Systems
The chart of accounts of LR Company includes the following selected accounts.
112 Accounts Receiv...
Problem-13: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Eddy Corporation had retained earnings of $650,000. During the year, Eddy had th...
Problem 17: Incremental Analysis and Capital Budgeting
Iggy Company is considering three capital expenditure projects. Relevant data for the projects are a...
Problem-14: Plant Assets, Natural Resources and intangible Assets
Yello Bus lines uses the units-of-activity method in depreciating its buses. One bus was purchased o...
Problem-09: Accounting for Partnerships
McGill and Smyth have capital balances on January 1 of $50,000 and $40,000, respectively. The partne...
Problem-6: Standard Costs and Balanced Scorecard
Jorgensen Corporation uses standard costs with its job order cost accounting system. In January, an ...
Problem-17: Managerial Accounting
Keisha Tombert , the bookkeeper for Washington Consulting, a political consulting firm, has recently...
Problem-18: Managerial Accounting
The following information is available for Aikman Company.
Instructions
Compute cost of goods ma...
Problem-17: Job Order Costing
Don Lieberman and Associates, a CPA firm, uses job order costing to capture costs of its audit jobs....
Problem-6: The Recording Process
Kim Yi has prepared the following list of statements about accounts:
An account is an accounting ...
Problem-20: Accounting for Merchandising Operations
Presented below is financial information for two different companies.
Instructions
Determine the...
Problem-11: Investments
On February 1, Rinehart Company purchased 500 shares (2% ownership ) of Givens company common stock ...
Problem-7: Accounting for Receivables
On January 1, 2019, Harter Company had Accounts Receivable $139,000, Notes Receivable $25,000, and A...
Problem-9: Standard Costs and Balanced Scorecard
Using the information in P25-1A, compute the overhead controllable variance and the overhead volume ...
Problem-26: Budgetary Planning
Emeric and Ellie's painting Service estimates that it will paint 10 small homes, 5 medium homes, and...
Problem-02: Financial Statement Analysis
The comparative statements of Painter Tool Company are presented below
All sales were on account....
Problem-22: Completing the Accounting Cycle
Victoria Lee Company had the following adjusted trial balance
Victoria Lee Company Adjusted Trial B...
Problem-17: Long-Term Liabilities
Presented below are three independent situations.
Longbine Corporation redeemed $130,000 face val...
Problem-18: The Recording Process
Selected transactions for A. Mane, an interior decorator, in her first month of business, are as fol...
Problem-18: Inventories
Shawn Company had 100 units in beginning inventory at a total cost of $10,000. The company purchased...
Problem-15: Current Liabilities and Payroll Accounting
Employee earnings records for Slaymaker Company reveals the following gross earnings for four employ...
Problem-17: Completing the Accounting Cycle
The following items were taken from the financial statements of J. Pineda Company
Long-term debt$1,...
Problem-26: Accounting for Merchandising Operations
Below is a series of cost of goods sold sections for companies B, F, L, and R.
Instructions
Fill...
Problem-22: Financial Statement Analysis
Trayer Corporation has income from continuing operations of $290,000 for the year ended December 31,...
Problem-6: Accounting Information Systems
The post-closing trial balance for Horner Co. is shown below.
HORNER CO.Post-Closing Trial BalanceD...
Problem-18: Cost Volume Profit
Yams Company reports the following operating results for the month of August: sales $400,000 (units ...
Problem-15: Budgetary Planning
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for prepa...
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-11: Fraud, Internal Control, and Cash
The cash records of Dawes Company show the following four situations.
The June 30 bank reconciliat...
Problem-07: Corporations: Organization and Capital Stock Transactions
Andrea has prepared the following list of statements about corporations
A corporation is an entity ...
Problem-15: Standard Costs and Balanced Scorecard
The standard cost of product B manufactured by pharrell Company includes there units of direct mater...
Problem-07: Process Costing
Schultz Electronics manufactures two large-screen television models: the Royale which sells for $1,6...
Problem-13: Process Costing
The Cutting Department of Cassel company has the following production and cost data for July.Contact...
Problem-02: Accounting for Partnerships
At the end of its first year of operations on December 31, 2020, NBS Company's accounts show the fol...
Problem-21: Plant Assets, Natural Resources and intangible Assets
The following are selected 2019 transactions of Pedigo Corporation.
Jan. 1Purchased a small company...
Problem-27: Inventories
Moath company reports the following for the month of June.
Instructions
Calculate the cost of...
Problem-04: Investments
Heldebrecht Design acquired 20% of the outstanding common stock of Quayle Company on January 1, 2020...
Business Statistics Solutions
Problem-07: Sampling and Sampling Distributions
An astronomer at the Mount Palomar Observatory notes that during the Gemind meteor shower, an averag...
Problem-49: Testing Hypotheses: Two Sample Tests
Long Distance Carrier is trying to see the effect of offering “1 month free” with a monthly fi xed f...
Problem-68: Probability I: Introductory Ideas
McCormick and Tryon, Inc., is a “shark watcher,” hired by fi rms fearing takeover by larger companie...
Problem-46: Chi-Square and Analysis of Variance
A bank is considering ways to reduce the costs associated with passbook savings accounts. The bank h...
Problem-12: Estimation
The University of North Carolina is conducting a study on the average weight of the many bricks that...
Problem-46: Testing Hypotheses: One Sample Tests
For a sample of 60 women taken from a population of over 5,000 enrolled in a weight- reducing progra...
Problem-32: Grouping and Displaying data to convey meaning
Central Carolina Hospital has the following data representing weight in pounds at birth of 200 prema...
Problem-14: Probability I: Introductory Ideas
General Buck Turgidson is preparing to make his annual budget presentation to the U.S. Senate and is...
Problem-07: Chi-Square and Analysis of Variance
To see whether silicon chip sales are independent of where the U.S. economy is in the business cycle...
Problem-8: Testing Hypotheses: One Sample Tests
For the following cases, specify which probability distribution to use in a hypothesis test:
(a) H ...
Problem-15: Probability Distributions
Find the mean and standard deviation of the following binomial distributions:
Problem-72: Testing Hypotheses: One Sample Tests
The median number of children in U>S. households is 2. At a 10 percent significance level.Contact us...
Problem-54: Grouping and Displaying data to convey meaning
The following relative frequency distribution resulted from a study of the dollar amounts spent per ...
Problem-55: Grouping and Displaying data to convey meaning
The following responses were given by two groups of hospital patients, one receiving a new treatment...
Problem-04: Measures of Central Tendency and Dispersion in Frequency Distributions
Child-Care Community Nursery can continue to be supported by the county social services office as lo...
Problem-77: Testing Hypotheses: One Sample Tests
A stockbroker claims that she can predict with 85 percent accuracy whether a stock’s market value wi...
Problem-67: Testing Hypotheses: One Sample Tests
In 1996, it was estimated that about 72 percent of all U.S. households were cable TV sub- scribers. ...
Problem-17: Grouping and Displaying data to convey meaning
Here are the ages of 30 people who bought video recorders at symphony Music Shop last week:
Problem-34: Testing Hypotheses: Two Sample Tests
The Coffee Institute has claimed that more than 40 percent of American adults regularly have a cup o...
Problem-17: Testing Hypotheses: One Sample Tests
For the following cases, specify which probability distribution, to use in a hypothesis test:
(a) H...
Problem-69: Probability Distribution
Consider the following data about sidley and Austin, a large law firm in Chicago.
Problem-35: Measures of Central Tendency and Dispersion in Frequency Distributions
For the following frequency distributions,
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-75: Probability I: Introductory Ideas
An electronics manufacturer is considering expansion of its plant in the next 4 years. The decision ...
Problem-43: Measures of Central Tendency and Dispersion in Frequency Distributions
A librarian polled 20 different people as they left the library and asked them how many books they c...
Problem-60: Testing Hypotheses: One Sample Tests
A finace professor developed a theory that predicted that closed end equity funds should sell at a p...
Problem-59: Testing Hypotheses: Two Sample Tests
Robin Wendell has been offered a transfer from Pittsburgh to Boston, but is holding out for more mon...
Problem-13: Estimation
Because the owner of the Bard’s Nook, a recently opened restaurant, has had difficulty estimating th...
Problem-41: Testing Hypotheses: Two Sample Tests
In 1992, a survey of 50 municipal hospitals revealed an average occupancy rate of 73.6 percent, and ...
Problem-18: Probability Distributions
For a binomial distribution with n = 15 and p = 0.2, use Appendix Table 3 to find
Problem-49: Probability I: Introductory Ideas
Given: The probabilities of three events, A, B, and C, occurring are P(A)= 0.35, P(B)= 0.45, and P(C...
Problem-05: Testing Hypotheses: Two Sample Tests
Two research laboratories have independently produced drugs that provide relief to arthritis suffere...
Problem-13: Grouping and Displaying data to convey meaning
Universal Burger is concerned about product waste, so they sampled their burger waste record from th...
Problem-23: Testing Hypotheses: One Sample Tests
Hinton Press hypothesizes that the average life of its largest web press is 14,500 hours. They know ...
Problem-51: Probability I: Introductory Ideas
Two related experiments are performed. The first has three possible mutually exclusive outcomes: A,B...
Problem-27: Testing Hypotheses: Two Sample Tests)
Two different areas of a large eastern city are being considered as sites for day-care centers. Of 2...
Problem-56: Grouping and Displaying data to convey meaning
The head of a large business department wanted to classify the specialties of its 67 members. He ask...
Problem-18: Probability I: Introductory Ideas
An inspector of the Alaska pipeline has the task of comparing the reliability of two pumping station...
Problem-62: Probability I: Introductory Ideas
Isaac T.Olduso, an engineer for Atlantic Aircraft, disagrees, with his supervisor about the likeliho...
Problem-25: Grouping and Displaying data to convey meaning
If the lawyer defending the airport is collecting data preparatory to going to trial, would she appr...
Problem-48: Testing Hypotheses: One Sample Tests
As the bottom fell out of the oil market in early 1986, educators in Texas worried about how the res...
Problem-30: Sampling and Sampling Distributions
HAL Corporation manufactures large computer systems and has always prided itself on the reliability ...
Problem-49: Testing Hypotheses: One Sample Tests
A television documentary on overeating claimed that Americans are about 10 pounds over- weight on av...
Problem-11: Sampling and Sampling Distributions
Calvin Ensor, president of General Telephone Corp, is upset at the number of telephones produced by ...
Problem-30: Testing Hypotheses: Two Sample Tests)
A coal-fi red power plant is considering two different systems for pollution abatement. The fi rst s...
Problem-40: Grouping and Displaying data to convey meaning
Chien-Ling Lee owns a CD store specializing in spoken-word recordings. Lee has 35 months of gross sa...
Problem-31: Probability I: Introductory Ideas
George, Richard, Paul, and John play the following game. Each man takes one of four balls numbered 1...
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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