Minhajur Rahaman
Principals of Accounting Solutions
Problem-21: Budgetary Planning
The Controller of trenshaw Company wants to improve the company's control system by preparing a mont...
Problem-13: Process Costing
The Cutting Department of Cassel company has the following production and cost data for July.Contact...
Problem-06: Financial Statement Analysis
The comparative statements of Corbin Company are presented below and on Compute numerous rations.
...
Problem-18: Long-Term Liabilities
Jernigan Co. receives $300,000 when it issues a $3000,000, 10%, mortgage ote payable to finance the ...
Problem-12: Budgetary Planning
Rensing Ltd. estimates sales for the second quarter of 2020 will be as follows.
Problem-07: Investments
Jenek Corporation had the following transactions pertaining to debt investments
Purchased 50 9%, $1...
Problem-17: Budgetary Planning
Kirkland Company combines its operating expenses for budget purposes in a selling and administrative...
Problem-11: Inventories
Rayre Books uses the retail inventory method to estimate its monthly ending inventories. The followi...
Problem-23: Process Costing
Major Instrument, Inc, manufactures two products: missile range instruments and space pressure gauge...
Problem-20: Cost Volume Profit
Carey Company had sales in 2020 of $1,560,000 on 60,000 units. Variable costs totaled $900,000, and ...
Problem-26: Inventories
Ehrhart Appliance uses a perpetual inventory system. For its flat-screen television sets, the Januar...
Problem 12: Incremental Analysis and Capital Budgeting
Johnson Enterprises uses a computer to handle its sales invoices..
Problem-17: Accounting Information Systems
The general ledger of Hensley company contained the following Accounts payable control account ( in ...
Problem-9: Adjusting the Accounts
Zaragoza Company accumulates the following adjustment data at December 31, 2020
Services performed ...
Problem-10: Fraud, Internal Control, and Cash
The information below relates to the cash account in the ledger of Mintion Company.
Balance Septemb...
Problem-05: Financial Statement Analysis
Selected financial data of Target Corporation and Wal-Mart Stores, Inc. for a recent year are presen...
Problem-8: Standard Costs and Balanced Scorecard
Using the information in P25-1A, compute the overhead controllable variance and the overhead volume ...
Problem-11: Completing the Accounting Cycle
Selected worksheet data for Rose Company are presented below.
Instructions
Fill the missing amou...
Problem-29: Accounting for Merchandising Operations
Presented below are selected accounts for T. Swift Company as reported in the worksheet at the end o...
Problem 9: Incremental Analysis and Capital Budgeting
Moonbeam Company manufactures toasters. For the first 8 months of 2020, the company reported the fol...
Problem-16: Statement of Cash Flows
The three accounts shown below appear in the general ledger of Herrick Corp. during 2020.
Instruc...
Problem-1: Adjusting the Accounts
Logan Krause started her own consulting firm, Krause Consulting, on May 1, 2019. The trial balance a...
Problem-4: Managerial Accounting
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30...
Problem-04: Financial Statement Analysis
Financial information for Messersmith Company is presented below
Additional Information
Invent...
Problem-21: Accounting for Receivables
On May 2, McLain Company lends $9,000 to Chang, Inc., issuing a 6-month, 9% not. at the maturity dat...
Problem-04: Current Liabilities and Payroll Accounting
The following payroll liability accounts are included in the ledger of Harmon Company on January 1, ...
Problem-9: Accounting for Receivables
Presented below are selected transactions of Molina Company, Molina sells in large quantities to oth...
Problem-21: Accounting for Merchandising Operations
Financial information is presented below for three different companies.
Instructions
Determine t...
Problem-19: Corporations: Organization and Capital Stock Transactions
The ledger of Rolling Hills Corporation contains the following accounts: Common Stock, Preferred Sto...
Problem-27: Standard Costs and Balanced Scorecard
The following is a list of terms related to performance evaluation.
Problem-05: Investments
The following securities are in Frederick Company's portfolio of long-term available-for-sale securi...
Problem-18: Inventories
Shawn Company had 100 units in beginning inventory at a total cost of $10,000. The company purchased...
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-19: Long-Term Liabilities
Dreiling Company borrowed $300,000 on January 1, 2019, by issuing a $300,000, 8% mortgage note payab...
Problem-10: Accounting for Partnerships
Coburn (beginning capital, $60,000) and Webb (beginning capital $90,000) are partners. During 2019, ...
Problem-14: Process Costing
The Sanding Department of Quik Furniture Company has the following production and manufacturing cost...
Problem-6: Budgetary Control and Responsibility Accounting
Durham Company uses a responsibility system. It has division in Denver, Seattle, and San Diego. Each...
Problem-11: Managerial Accounting
National Express the following costs and expenses in June 2020 for its delivery service.
Instruct...
Problem-15: Budgetary Control and Responsibility Accounting
Chubbs Inc.'s manufacturing overhead budget for the first quarter of 2020 contained the following da...
Problem-13: Plant Assets, Natural Resources and intangible Assets
Tom Parkey has prepared the following list of statements about depreciation.
Depreciation is a proc...
Problem-9: Accounting Information Systems
On September 1, the balance of the accounts Receivable control account in the general ledger of Mont...
Problem-6: Fraud, Internal Control, and Cash
Horvath Company uses an imprest petty cash system. The fund was established on March 1 with a balanc...
Problem-13: Cost Volume Profit
In the month of March, Style Salon services 560 clients at an average price of $120. During the mont...
Problem-1: Inventories
Houghton Limited is trying to determine the value of its ending inventory as of February 28, 109, th...
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-7: Accounting for Receivables
On January 1, 2019, Harter Company had Accounts Receivable $139,000, Notes Receivable $25,000, and A...
Problem-8: Fraud, Internal Control, and Cash
On April 30, the bank reconciliation of Westbrook Company shows three outstanding checks no. 254, $6...
Problem-17: Cost Volume Profit
Naylor Company had $210,000 of net income in 2019 when the selling price per unit was $150, the vari...
Business Statistics Solutions
Problem-63: Grouping and Displaying data to convey meaning
Hanna Equipment Co. sells process equipment to agricultural companies in developing countries. A rec...
Problem-9: Testing Hypotheses: One Sample Tests
Martha Inman, a highway safety engineer, decides to test the load-bearing capacity of a bridge that ...
Problem-02: Estimation
The Pizza Distribution Authority (PDA) has developed quite a business in Carrboro by delivering pizz...
Problem-46: Probability I: Introductory Ideas
A company is considering upgrading its computer system and a major portion of the upgrade is new ope...
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-30: Measures of Central Tendency and Dispersion in Frequency Distributions
A sociologist has been studying the yearly changes in the number of convicts assigned to the largest...
Problem-24: Probability Distributions
A recent study of how American spend their leisure time surveyed workers employed more than 5 yuears...
Problem-04: Sampling and Sampling Distributions
In a sample of 19 observations from a normal distribution with mean 18 and standard deviation 4.8
Problem-03: Chi-Square and Analysis of Variance
An advertising firm is trying to determine the demographics for a new product. They have randomly se...
Problem-02: Chi-Square and Analysis of Variance
A brand manager is concerned that her brand’s share may be unevenly distributed through-out the coun...
Problem-23: Sampling and Sampling Distributions
An X-ray technician is taking readings from her machine to ensure that it adheres to federal safety ...
Problem-08: Sampling and Sampling Distributions
The average cost of a studio condominium in the Cedar Lakes development is $62,000 and the standard ...
Problem-13: Probability Distributions
We Car Air needs to make a decision about Flight 105. There are currently 3 seats reserved for last-...
Problem-59: Grouping and Displaying data to convey meaning
A. T. Cline, the mine superintendent of the Grover Coal Co., has recorded the amount of time per wor...
Problem-51: Grouping and Displaying data to convey meaning
If the following age groups are included in the proportions indicated, how many of each age group sh...
Problem-05: Measures of Central Tendency and Dispersion in Frequency Distributions
These data represent the ages patients admitted to a small hospital on February 28, 1996.
Constru...
Problem-61: Testing Hypotheses: Two Sample Tests
A firm is considering offering new-hire MBAs a housing allowance to compensate for differences in th...
Problem-04: Chi-Square and Analysis of Variance
Develop a table of observed and expected frequencies for this problem.
Problem-02: Testing Hypotheses: Two Sample Tests
In 1993, the Financial Accounting Standards Board (FASB) was considering a proposal to require comp...
Problem-15: Probability I: Introductory Ideas
The office manager of an insurance company has the following data on the functioning of the copiers ...
Problem-41: Testing Hypotheses: One Sample Tests
Given a sample mean of 83, a sample standard deviation of 12.5, and a samplesize of 22, test the hyp...
Problem-10: Testing Hypotheses: One Sample Tests
Formulate null and alternative hypotheses to test whether the mean annual snowfall in Buffalo, New Y...
Problem-37: Testing Hypotheses: Two Sample Tests
The North Carolina Department of Transportation has claimed that at most, 18 percent of passenger ca...
Problem-17: Probability Distributions
For a binomial distribution with n = 7 and p = 0.2, find
Problem-16: Sampling and Sampling Distributions
From a population of 125 items with a mean of 105 and a standard deviation of 17,64 items were chose...
Problem-39: Measures of Central Tendency and Dispersion in Frequency Distributions
If insurance claims for automobile accidents follow the distributions given, determine the median us...
Problem-62: Grouping and Displaying data to convey meaning
The telephone system used by PHM, a mail-order company, keeps track of how many customers tried to c...
Problem-06: Estimation
In a sample of 400 textile workers, 184 expressed extreme dissatisfaction regarding a prospective pl...
Problem-71: Testing Hypotheses: One Sample Tests
In Exercise 8-26, what would be the power of the test for μ = $41.95, $42.95, and $43.95 if the sign...
Problem-17: Estimation
From a population of 540, a sample of 60 individuals is taken. From this sample, the mean is found t...
Problem-41: Probability Distribution
Given that a random variable, X, has a binomial distribution with n = 50 trials and p = 0.25, use th...
Problem-25: Testing Hypotheses: One Sample Tests
Atlas Sporting Goods has implemented a special trade promotion for its propane stove and feels that ...
Problem-04: Probability Distributions
From the following graph of a probability distribution.
Problem-30: Sampling and Sampling Distributions
HAL Corporation manufactures large computer systems and has always prided itself on the reliability ...
Problem-39: Testing Hypotheses: One Sample Tests
MacroSwift estimated last year that 35 percent of potential software buyers were planning to wait to...
Problem-2: Testing Hypotheses: One Sample Tests
An automobile manufacturer claims that a particular model gets 28 miles to the gallon. The Environme...
Problem-90: Probability I: Introductory Ideas
In the summer of 1995, Boeing successfully introduced into commercial airline service the 777, a lar...
Problem-74: Testing Hypotheses: One Sample Tests
Refer to Exercise 8-26. Compute the power of the test for μ = $41.95, $42.95, and $43.95.Contact us ...
Problem-22: Probability Distributions
Diane Bruns is the mayor of a large city Lately, she become concerned about the possibility that lar...
Problem-51: Probability Distribution
R. V. Poppin, the concession stand manager for the local hockey rink, just had 2 cancellations on hi...
Problem-24: Testing Hypotheses: One Sample Tests
American Theaters knows that a certain hit movie ran an average of 84 days in each city, and the cor...
Problem-12: Testing Hypotheses: Two Sample Tests
A credit-insurance organization has developed a new high-tech method of training new sales personnel...
Problem-57: Probability Distribution
Explain in your own words the difference between discrete and continuous random variables. What diff...
Problem-42: Probability I: Introductory Ideas
At a soup kitchen, a social worker gathers the following data. Of those visiting the kitchen, 59 per...
Problem-04: Quality and Quality Control
The Wilson Piston Company manufactures pistons for LawnGuy mowers, and the diameter of each piston m...
Problem-62: Probability I: Introductory Ideas
Isaac T.Olduso, an engineer for Atlantic Aircraft, disagrees, with his supervisor about the likeliho...
Problem-57: Testing Hypotheses: Two Sample Tests
TV network executive Terri Black has just received a proposal and a pilot tape for a new show. Empty...
Problem-03: Probability Distributions
Construct a probability distribution based on the following frequency distribution:
Problem-05: Probability Distributions
the only information available to you regarding the probability distribution of a set of outcomes is...
Problem-48: Measures of Central Tendency and Dispersion in Frequency Distributions
The number of solar heating systems available to the public is quite large and their heat-storage ca...
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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-17: Inventories
Moath Company reports the following for the month of June.
Instructions
Compute the cost of en...
Problem-9: Accounting for Merchandising Operations
Information related to Kerber Co. is presented below
On April 5, purchased merchandise from Wilkes ...
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