Minhajur Rahaman
Principals of Accounting Solutions
Problem-15: Budgetary Planning
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for prepa...
Problem-11: Process Costing
Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Ma...
Problem-8: Accounting for Receivables
Winter Company's balance sheet at December 31, 2020, is presented below.
During January 2021, the...
Problem-07: Long-Term Liabilities
Saberhagen Company sold $3,500,000, 8%, 10-year bonds on January 2020. The bonds were dated January ...
Problem-3: Budgetary Control and Responsibility Accounting
Zelmer Company manufactures tablecloths. Sales have grown rapidly over the past 2 years. As a result...
Problem-17: Budgetary Planning
Kirkland Company combines its operating expenses for budget purposes in a selling and administrative...
Problem-7: Budgetary Planning
Edington Electronics Inc. produces and sells two models of pocket calculators, XQ-103 and XQ-104. Th...
Problem-23: Inventories
Charapata Company applied FIFO to its inventory and got the following results for its ending invento...
Problem-09: Accounting for Partnerships
McGill and Smyth have capital balances on January 1 of $50,000 and $40,000, respectively. The partne...
Problem-5: Accounting in Action
Financial statement information about four different companies is as follows:
Instructions
Det...
Problem-2: Managerial Accounting
Bell company, a manufacturer of audio systems, started its production in October 2020. Fort the prec...
Problem-2: Cost Volume Profit
Jorge Company bottles and distributes B-Lite, a diet soft drink. The beverage is sold for 50 cents p...
Problem-18: Corporations: Dividends, Retained Earnings, and Income Reporting
In 2020, Pennington Corporation had net sales of $600,000 and cost of goods sold of $360,000, Operat...
Problem-14: Financial Statement Analysis
Suppose Nordstrom, Inc, which operates department stores in numerous states, has the following selec...
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-19: The Recording Process
Transaction data for Sanculi Real Estate Agency are presented as follows:
Oct. 1
Alan Sancul...
Problem-01: Financial Statement Analysis
Comparative statement data for Farris Company and Raizlaff Company, two competitors, appear below. A...
Problem-8: Completing the Accounting Cycle
The adjusted trial balance columns of the worksheet for Savaglia Company are as follows
Savaglia Co...
Problem-11: Standard Costs and Balanced Scorecard
Parsons Company is planning to produce 2,000 units of product in 2020. Each unit requires 3 pounds o...
Problem-09: Current Liabilities and Payroll Accounting
Moreno Company publishes a monthly sports magazine, Fishing Preview, Subscriptions to the magazine c...
Problem-06: Financial Statement Analysis
The comparative statements of Corbin Company are presented below and on Compute numerous rations.
...
Problem-4: Managerial Accounting
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30...
Problem-4: Standard Costs and Balanced Scorecard
Kansas Company uses a standard cost accounting system. In 2020, the company produced 28,000 units. E...
Problem-12: Long-Term Liabilities
On January 1, 2019, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is p...
Problem-11: Investments
On February 1, Rinehart Company purchased 500 shares (2% ownership ) of Givens company common stock ...
Problem-03: Corporations: Organization and Capital Stock Transactions
The stockholders equity accounts of Castle Corporation on January 1, 2020, were as follows
Preferre...
Problem-20: Completing the Accounting Cycle
On December 31, the adjusted trial balance of Shihata Employment Agency shows the following selected...
Problem-04: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Ven Corporation had the following stockholders equity accounts
Common Stock (...
Problem-1: Adjusting the Accounts
Logan Krause started her own consulting firm, Krause Consulting, on May 1, 2019. The trial balance a...
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-16: Investments
Data for investments in stock classified as trading securities are presented in E 16-10. Assume inst...
Problem-2: Fraud, Internal Control, and Cash
On May 31, 2019, Rober Company had a cash balance per books of $6,781.50. tha bank statement from Ne...
Problem-03: Accounting for Partnerships
The partners in Crawford Company decide to liquidate the firm when the balance sheet shows the follo...
Problem-12: Accounting for Merchandising Operations
On June 10, Diaz Company purchased $8,000 of merchandise from Taylor Company, FOB shipping point, te...
Problem-9: Inventories
Wittmann Co. began operations on July 1. It uses a perpetual inventory system During July, the compa...
Problem-12: The Recording Process
Selected transactions from the journal of June Feldman, Investment broker, are presented below.
I...
Problem-1: Standard Costs and Balanced Scorecard
Rogen Corporation manufactures product. The standard cost per unit of product is shown below.
Direc...
Problem-18: Inventories
Shawn Company had 100 units in beginning inventory at a total cost of $10,000. The company purchased...
Problem-2: The Recording Process
Emily Valley is a licensed dentist. During the first month of the operation of her business, the fol...
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-05: Financial Statement Analysis
Selected financial data of Target Corporation and Wal-Mart Stores, Inc. for a recent year are presen...
Problem-13: Accounting for Merchandising Operations
The adjusted trial balance of Sang Company shows the following data pertaining to sales at the end o...
Problem-15: Current Liabilities and Payroll Accounting
Employee earnings records for Slaymaker Company reveals the following gross earnings for four employ...
Problem-16: Long-Term Liabilities
The following section is taken from Ohlman Corp's balance sheet at December 31, 2020
Bond interes...
Problem-08: Process Costing
Robert Wilkins has prepared the following list of statements about process cost accounting.Contact u...
Problem-1: Accounting Information Systems
Kozma Company's chart of accounts includes the following selected accounts.
101 Cash112 Accounts ...
Problem-1: Inventories
Houghton Limited is trying to determine the value of its ending inventory as of February 28, 109, th...
Problem 6: Incremental Analysis and Capital Budgeting
Lon Timur is an accounting major at a midwestern state university located approximately 60 miles fro...
Business Statistics Solutions
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-18: Probability I: Introductory Ideas
An inspector of the Alaska pipeline has the task of comparing the reliability of two pumping station...
Problem-26: Sampling and Sampling Distributions
Food Place, a chain of 145 supermarkets, has been bought out by a larger nationwide supermarket chai...
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-29: Probability I: Introductory Ideas
In rolling two dice, what is the probability of rolling
(a) A total of 7 on the first roll, followe...
Problem-73: Probability I: Introductory Ideas
Which of the following pairs of events are statistically independent?
(a) The times until failure o...
Problem-16: Testing Hypotheses: Two Sample Tests
Because refunds are paid more quickly on tax returns that are fi led electronically, the Commissione...
Problem-52: Probability I: Introductory Ideas
Martin Coleman, credit manager for Back's knows that the company uses three methods to encourage col...
Problem-61: Probability I: Introductory Ideas
Studies have shown that the chance of a new car being a "lemon"(One with multiple warranty problems)...
Problem-05: Chi-Square and Analysis of Variance
An advertising firm is trying to determine the demographics for a new product. They have randomly se...
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-11: Quality and Quality Control
For each of the following cases, find the CL, UCL, and LCL for a p chart based on the given informat...
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-16: Probability Distributions
The latest nationwide political poll indicates that for Americans who are randomly selected, the pro...
Problem-01: Probability I: Introductory Ideas
Give a collectively exhaustive list of the possible outcomes of tossing tow dice.
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-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-04: Chi-Square and Analysis of Variance
Develop a table of observed and expected frequencies for this problem.
Problem-35: Chi-Square and Analysis of Variance
A lumber company is concerned about how rising interest rates are affecting the new housing starts i...
Problem-14: Chi-Square and Analysis of Variance
Below is an observed frequency distribution. Using a normal distribution with μ = 5 and σ = 1.5,
Fi...
Problem-21: Estimation
The West view High School nurse is interested in knowing the average height of seniors at this schoo...
Problem-36: Probability I: Introductory Ideas
Bill Borde, top advertising executive for Grapevine Concepts, has just launched a publicity campaign...
Problem-24: Estimation
Joel Fried lander is a broker on the New York Stock Exchange who is curious about the amount of time...
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-11: Probability Distributions
Harry Byrd, the director of publications for the Baltimore Orioles is trying to decide how many prog...
Problem-67: Probability I: Introductory Ideas
The American Cancer Society is planning to mail out questionnaires concerning breast cancer. From pa...
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-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-08: Probability I: Introductory Ideas
Southern Bell is considering the distriburion of funds for a campaign to increase long-distance call...
Problem-90: Probability I: Introductory Ideas
In the summer of 1995, Boeing successfully introduced into commercial airline service the 777, a lar...
Problem-64: Testing Hypotheses: One Sample Tests
In 1995, the average 2-week-advance-purchase airfare between Raleigh-Durham, North Carolina, and New...
Problem-14: Testing Hypotheses: Two Sample Tests
To celebrate their fi rst anniversary, Randy Nelson decided to buy a pair of diamond earrings for hi...
Problem-46: Probability Distribution
The manager of a Spitty Lube auto lubrication shop is trying to revise his policy on ordering grease...
Problem-21: Probability I: Introductory Ideas
An urn contains 75 marbles: 35 are blue, and 25 of these blue marbles are swirled. The rest of them ...
Problem-58: Grouping and Displaying data to convey meaning
The Kawahondi Computer Company compiled data regarding the number of interviews required for each of...
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-21: Testing Hypotheses: Two Sample Tests
Jeff Richardson, the receiving clerk for a chemical-products distributor, is faced with the continui...
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-03: Probability I: Introductory Ideas
Which of the following are pairs of mutually exclusive events in the drawing of one card from a stan...
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-32: Sampling and Sampling Distributions
Jill Johnson, product manager for Southern Electric's smoke alarm, is concerned over recent complain...
Problem-33: Sampling and Sampling Distributions
Seventy data clerks at the Department of Motor Vehicles make an average of 18 errors per day, normal...
Problem-57: Probability Distribution
Explain in your own words the difference between discrete and continuous random variables. What diff...
Problem-26: Chi-Square and Analysis of Variance
A study compared the number of hours of relief provided by five different brands of antacid administ...
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-14: Grouping and Displaying data to convey meaning
Construct a relative frequency distribution using intervals of 4.0 lb/sq in..
Problem-41: Measures of Central Tendency and Dispersion in Frequency Distributions
Here are the ages in years of the cars worked on by the Village Autohaus last week:
Problem-23: Chi-Square and Analysis of Variance
A diligent statistics student wants to see whether it is reasonable to assume that some sales data h...
Problem-50: Probability Distribution
On the basis of past experience, automobile inspectors in Pennsylvania have noticed that 5 percent o...
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...
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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: The Recording Process
Holz Disc Golf Course was opened on March 1 by Ian Holz. The following selected events and transacti...
Problem-1: Accounting for Merchandising Operations
Kern's Book Warehouse distributes hardcover looks to retail stores and extends credit terms of 2/10,...
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-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: Plant Assets, Natural Resources and intangible Assets
In recent years, Avery Transportation purchased three used buses. Because of frequent turnover in th...
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: 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-8: Inventories
Dempsey Inc is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method...
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...
In a survey conducted of 2,000 clerks in an office it found that 48%preferred coffee (C), 54% liked Tea (T) and 64% used to smoke (S). Of the total 28% used C and T, 32%...
the number having all the three
T and S but not C
only C
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-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 ...
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 Sets Long-Term Liabilities