Minhajur Rahaman
Principals of Accounting Solutions
Problem-02: Statement of Cash Flows
The following account balances relate to the stockholders equity accounts of Kerbs Corp. at year-end...
Problem-07: Financial Statement Analysis
An incomplete income statement and an incomplete comparative balance sheet of Deines Corporation are...
Problem-11: Job Order Costing
A job cost sheet of Sandoval Company is given below.
Instructions
Answer the following questions...
Problem-13: Completing the Accounting Cycle
Selected accounts for Tamora's Salon are presented below. All June 30 postings are from closing entr...
Problem-21: Plant Assets, Natural Resources and intangible Assets
The following are selected 2019 transactions of Pedigo Corporation.
Jan. 1Purchased a small company...
Problem-5: Accounting for Receivables
At December 31, 2019, the trial balance of Darby Company contained the following accounts before adj...
Problem-4: Fraud, Internal Control, and Cash
Rodriguez Company maintains a checking account at the Imura Bank. At July 31 selected data from the ...
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-5: Fraud, Internal Control, and Cash
Setterstrom Company established a petty cash fund on May 1, cashing a check for $100. The company re...
Problem-4: Accounting for Merchandising Operations
Yolanda Hagen, a former disc golf star, operates Yolanda's Discorama. At the beginning of the curren...
Problem-07: Current Liabilities and Payroll Accounting
On June 1, Merando Company borrows $90,000 from First Bank on a 6-month, $90,000, 8% note
Instructi...
Problem-3: Fraud, Internal Control, and Cash
The bank portion of the bank reconciliation for Langer Company at November 30, 2019, was as follows
...
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-8: Budgetary Planning
Thome and Crede, CPAs, are preparing their service revenue budget for the coming year (2020). The pr...
Problem-5: Job Order Costing
Phillips Corporation's fiscal year ends on November 30. The following accounts are found in its job ...
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-01: Accounting for Partnerships
The post-closing trial balances of two proprietorships on January 1, 2019, are presented below.
A...
Problem-5: Cost Volume Profit
Viejol Corporation has collected the following information after its first year of sales. Sales were...
Problem-19: Financial Statement Analysis
Lingenfelter Corporation experienced a fire on December 31, 2020, in which its financial records wer...
Problem-23: Accounting for Merchandising Operations
The trial balance columns of the worksheet using a perpetual inventory system for Balistreri Company...
Problem-12: Completing the Accounting Cycle
Okabe Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the...
Problem-15: Process Costing
The Blending Department of Luongo Company has the following cost and production data for the month o...
Problem-20: Corporations: Dividends, Retained Earnings, and Income Reporting
The financial information is available for Plummer Corporation.
The weighted-average number of sh...
Problem-3: The Recording Process
Maquoketa Services was formed on May 1, 2018. The following transactions took place during the first...
Problem-17: Corporations: Dividends, Retained Earnings, and Income Reporting
The following information is available for Norman Corporation for the year ended December 31, 2020; ...
Problem-15: Statement of Cash Flows
The current sections of Scoggin Inc.'s balance sheets at December 31, 2019 and 2020 are presented he...
Problem-7: Cost Volume Profit
Bonita Company manufactures a single product. Annual production costs incurred in the manufacturing ...
Problem-4: Budgetary Control and Responsibility Accounting
Clarke Inc. operates the patio Furniture Division as a profit center. Operating data for this divisi...
Problem-13: Investments
Presented below are two independent situations.
Gambino Cosmetics acquired 10% of the 200,000 share...
Problem-4: Plant Assets, Natural Resources and intangible Assets
At the beginning of 2015, Mazzaro Company acquired equipment costing $120,000. It was estimated that...
Problem-13: Inventories
Kari Downs, an auditor with Wheeler CPAs, is performing a review of Depue Company's inventory accoun...
Problem-01: Financial Statement Analysis
Comparative statement data for Farris Company and Raizlaff Company, two competitors, appear below. A...
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-11: Cost Volume Profit
All that Blooms provides environmentally friendly lawn services for homeowners. Its operating costs ...
Problem-12: Standard Costs and Balanced Scorecard
Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon....
Problem-6: Completing the Accounting Cycle
Casey Hartwig, CPA, was retained by Global Cable to prepare financial statements for April 2019. Har...
Problem-2: Managerial Accounting
Bell company, a manufacturer of audio systems, started its production in October 2020. Fort the prec...
Problem-28: Standard Costs and Balanced Scorecard
Indicate which of the four perspectives in the balanced scorecard is most likely associated with the...
Problem-17: Job Order Costing
Don Lieberman and Associates, a CPA firm, uses job order costing to capture costs of its audit jobs....
Problem-7: Fraud, Internal Control, and Cash
Don Wyatt is unable to reconcile the bank balance at January 31. Don's reconciliation is as follows
...
Problem-9: Adjusting the Accounts
Zaragoza Company accumulates the following adjustment data at December 31, 2020
Services performed ...
Problem-15: Managerial Accounting
Incomplete manufacturing cost data for Horizon Company for 2020 are presented as follows for four di...
Problem-08: Corporations: Organization and Capital Stock Transactions
During its first year of operations, Foyle Corporation had the following transactions pertaining to ...
Problem-3: Accounting in Action
On June 1, Cindy Godfrey started Divine Designs Co., a company that provides cash opportunities by i...
Problem-21: Budgetary Planning
The Controller of trenshaw Company wants to improve the company's control system by preparing a mont...
Problem-05: Process Costing
Polk Company manufactures basketballs. Materials are added at the beginning of the production proces...
Problem-17: Budgetary Control and Responsibility Accounting
Venetian Company has two production departments, Fabricating and Assembling. At a department manager...
Problem-12: Current Liabilities and Payroll Accounting
Younger Online Company has the following liability accounts after posting adjusting entries: Account...
Business Statistics Solutions
Problem-57: Chi-Square and Analysis of Variance
The post office is concerned about the variability in the number of days it takes a letter to go
fr...
Problem-87: Probability I: Introductory Ideas
The pressroom supervisor for a daily newspaper is being pressured to find ways to print the paper cl...
Problem-69: Probability I: Introductory Ideas
As the administrator of a hospital, Cindy Turner wants to know what the probability is that a person...
Problem-38: Testing Hypotheses: Two Sample Tests
Kelly’s machine shop uses a machine-controlled metal saw to cut sections of tubing used in pressure-...
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-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-63: Probability Distribution
The French bread made at La Fleur de Farine costs $8 per dozen baguettes to produce. Fresh bread sel...
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-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-09: Quality and Quality Control
Construct an R chart for the data given in Exercise SC 10-2. Is the variability in the tread life of...
Problem-44: Grouping and Displaying data to convey meaning
The National Safety Council randomly sampled the tread depth of 60 right front tires on passenger ve...
Problem-38: Chi-Square and Analysis of Variance
In Bigville, a fast-food chain feels it is gaining a bad reputation because it takes too long to ser...
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-25: Measures of Central Tendency and Dispersion in Frequency Distributions
The Birch Company, a manufacturer of electrical circuit boards, has manufactured the following numbe...
Problem-40: Probability I: Introductory Ideas
Given that P(A) = 3/14, P(B) = 1/3, P(AC) = 1/7 , and P(B|C) = 5/21, find the following probabilitie...
Problem-30: Testing Hypotheses: One Sample Tests
Each day, the United States Customs Service has historically intercepted about $28 million in contra...
Problem-03: Probability Distributions
Construct a probability distribution based on the following frequency distribution:
Problem-49: Measures of Central Tendency and Dispersion in Frequency Distributions
Ed Grant is the director of the Student Financial Aid Office at Wilderness College. He has used avai...
Problem-06: Probability Distributions
Bill Jonson has bought a VCR from Jim's Videotape Service at a cost of $300. He now has the option o...
Problem-02: Estimation
The Pizza Distribution Authority (PDA) has developed quite a business in Carrboro by delivering pizz...
Problem-34: Testing Hypotheses: One Sample Tests
Steve Cutter sells Big Blade lawn mowers in his hardware store, and he is interested in comparing th...
Problem-04: Grouping and Displaying data to convey meaning
Use the data from transmission Fix-It as followsThe company financial VP has set up what she calls a...
Problem-25: Probability I: Introductory Ideas
The Herr-McFee Company, which produces nuclear fuel rods,must X-ray and inspect each rod before ship...
Problem-70: Probability Distribution
The Virginia Department of Health and Welfare publishes a pamphlet, A Guide to selecting your Doctor...
Problem-57: Grouping and Displaying data to convey meaning
Lesley Niles, a summer intern at the Internet Financial Services Corporation, has been asked to inve...
Problem-49: Probability Distribution
Glenn Howell VP of personnel for the Standard Insurance Company, has developed a new training progra...
Problem-12: Quality and Quality Control
Todd Olmstead is the Meals-on-Wheels dispatcher for the Atlanta metropolitan area. He wants meals de...
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-57: Probability Distribution
Explain in your own words the difference between discrete and continuous random variables. What diff...
Problem-88: Probability I: Introductory Ideas
Refer to Exercise 4-83. The supervisor has noted that the web tore during each of the last four runs...
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-25: Sampling and Sampling Distributions
Davis Aircraft Co. is developing a new wing de-icer system, which it has installed on 30 commercial ...
Problem-31: Probability I: Introductory Ideas
George, Richard, Paul, and John play the following game. Each man takes one of four balls numbered 1...
Problem-47: Probability Distribution
Jarrid Medical, Inc, is developing a compact kidney dialysis machine, but its chief engineer, Mike C...
Problem-42: Grouping and Displaying data to convey meaning
Springfi eld is a college town with the usual parking problems. The city allows people who have rece...
Problem-22: Estimation
Jon Jacobson, an overzealous graduate student, has just completed a first draft of his 700-page diss...
Problem-30: Grouping and Displaying data to convey meaning
The following set of raw data givesincome and education level for a sample of individuals. Would rea...
Problem-66: Probability I: Introductory Ideas
The Environmental Protection Agency is trying to assess the pollution effect of a paper mill that is...
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-26: Probability I: Introductory Ideas
What is the probability that in selecting two cards one at a time from a deck with replacement, the ...
Problem-07: Quality and Quality Control
Northern White Metals Corp. uses an extrusion process to produce various kinds of aluminum brackets....
Problem-03: Measures of Central Tendency and Dispersion in Frequency Distributions
Child-Care Community Nursery is eligible for a county social services grant as long as the average a...
Problem-14: Grouping and Displaying data to convey meaning
Construct a relative frequency distribution using intervals of 4.0 lb/sq in..
Problem-40: Testing Hypotheses: Two Sample Tests
Clic Pens has tested two types of point-of-purchase displays for its new erasable pen. A shelf displ...
Problem-34: Probability Distributions
On average, five birds hit the Washington Monument and are killed each week. Bill Garcy, an official...
Problem-16: Probability Distributions
The latest nationwide political poll indicates that for Americans who are randomly selected, the pro...
Problem-13: Probability Distributions
We Car Air needs to make a decision about Flight 105. There are currently 3 seats reserved for last-...
Problem-43: Probability Distribution
Use the normal approximation to compute the binomial probabilities in parts (a)-(e) below.
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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-3: Adjusting the Accounts
Alena Co. was organized on July 1, 2019. quarterly financial statements are prepared. The unadjusted...
Problem-4: Accounting in Action
Trixie Maye started her own consulting firm, Matrix Consulting, on May 1, 2018. The following transa...
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: Corporations: Organization and Capital Stock Transactions
DeLong Corporation was organized on January 1, 2020. It is authorized to issue 10,000 shares of 8%, ...
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...
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 Corporations: Organization and Capital Stock Transactions Long-Term Liabilities