Minhajur Rahaman
Principals of Accounting Solutions
Problem-6: Inventories
You are provided with the following information for Gobler Inc. uses the periodic method of accounti...
Problem-11: Adjusting the Accounts
Meghan Lindh, D.D.S., opened a dental practice on January 1, 2019. During the first month of operati...
Problem-17: Completing the Accounting Cycle
The following items were taken from the financial statements of J. Pineda Company
Long-term debt$1,...
Problem-10: Corporations: Dividends, Retained Earnings, and Income Reporting
On October 1, Little Bobby Corporation's stockholders equity is as follows.
On October 1, Little ...
Problem-21: Completing the Accounting Cycle
Worksheet data for Savaglia Company are present as follows
Savaglia Company Worksheet (partial)For ...
Problem-15: Managerial Accounting
Incomplete manufacturing cost data for Horizon Company for 2020 are presented as follows for four di...
Problem-04: Investments
Heldebrecht Design acquired 20% of the outstanding common stock of Quayle Company on January 1, 2020...
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-14: Corporations: Organization and Capital Stock Transactions
Tran Corporation is authorized to issue both preferred and common stock. The par value of the prefer...
Problem-16: Long-Term Liabilities
The following section is taken from Ohlman Corp's balance sheet at December 31, 2020
Bond interes...
Problem-11: Process Costing
Schrager Company has two production departments: Cutting and Assembly. July 1 inventories are Raw Ma...
Problem-01: Investments
Vilander Carecenters Inc. provides financing and capital to the healthcare industry, with a particul...
Problem-5: Completing the Accounting Cycle
Anya Clark opened Anya's Cleaning Service on July 1, 2019. During July, the following transactions w...
Problem-11: Completing the Accounting Cycle
Selected worksheet data for Rose Company are presented below.
Instructions
Fill the missing amou...
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-02: Long-Term Liabilities
Kershaw Electric sold $6,000,000, 10%, 10-year bonds on January 1, 2019. The bonds were dated Januar...
Problem-10: Accounting for Partnerships
Coburn (beginning capital, $60,000) and Webb (beginning capital $90,000) are partners. During 2019, ...
Problem-4: Budgetary Control and Responsibility Accounting
Clarke Inc. operates the patio Furniture Division as a profit center. Operating data for this divisi...
Problem-20: Corporations: Dividends, Retained Earnings, and Income Reporting
The financial information is available for Plummer Corporation.
The weighted-average number of sh...
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-2: Job Order Costing
For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following d...
Problem-15: Process Costing
The Blending Department of Luongo Company has the following cost and production data for the month o...
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-13: Investments
Presented below are two independent situations.
Gambino Cosmetics acquired 10% of the 200,000 share...
Problem-7: Managerial Accounting
Trak Corporation incurred the following costs while manufacturing its bicycles.
Instructions
Ide...
Problem 5-: Incremental Analysis and Capital Budgeting
U3 Company is considering three long-term capital investment proposals. Each investment has a useful...
Problem-13: Statement of Cash Flows
Cushenberry Corporation had the following transactions.
Sold land (cost $12,000) for $15,000
Issue...
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-16: Investments
Data for investments in stock classified as trading securities are presented in E 16-10. Assume inst...
Problem-14: Inventories
On December 1, Kiyak Electronics Ltd. has three DVD players left in stock. All are identical, all ar...
Problem-18: Accounting Information Systems
Selected Accounts from the ledgers of Youngblood Company at July 31 showed the following.
Instruc...
Problem-12: Financial Statement Analysis
The Comparative condensed balance sheets of Gurley Corporation are presented below.
Gurley Corporat...
Problem-06: Current Liabilities and Payroll Accounting
C.S. Lewis Company had the following transactions involving notes payable.
July 1, 2020Borrows $50,...
Problem-13: Corporations: Organization and Capital Stock Transactions
Rinehart Corporation purchased from its stockholders 5,000 shares of its own previously issued stock...
Problem-5: Job Order Costing
Phillips Corporation's fiscal year ends on November 30. The following accounts are found in its job ...
Problem-9: Fraud, Internal Control, and Cash
The following information pertains to Crane Video Company
Cash balance per bank, July 31, $7,263.
...
Problem-22: Completing the Accounting Cycle
Victoria Lee Company had the following adjusted trial balance
Victoria Lee Company Adjusted Trial B...
Problem-07: Corporations: Dividends, Retained Earnings, and Income Reporting
Knudsen Corporation was organized on January 1, 2019. during its first year, the corporation issued ...
Problem-11: Accounting for Receivables
The Jedger of Costello Company at the end of the current year shows Accounts Receivable $110,000, Sa...
Problem-16: Accounting for Merchandising Operations
Presented below is information for Kaila Company for the month of March 2019.
Instructions
Prepa...
Problem-21: Process Costing
Remington Inc. is contemplating the use of process costing to track the cost of its operations. The ...
Problem-22: Corporations: Dividends, Retained Earnings, and Income Reporting
At December 31, 2020, Millwood Corporation has 2,000 shares of $100 par value, 8%, preferred stock o...
Problem-8: Accounting for Receivables
Winter Company's balance sheet at December 31, 2020, is presented below.
During January 2021, the...
Problem-20: Managerial Accounting
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the...
Problem-17: Accounting for Partnerships
S. Pagan and T. Tabor share income on a 6:4 basis. They have capital balances of $100,000 and $60,00...
Problem-13: Managerial Accounting
An incomplete cost of goods manufactured schedule is presented below.
Hobbit CompanyCost of goods m...
Business Statistics Solutions
Problem-20: Probability I: Introductory Ideas
Using this Venn diagram, give the probabilities indicated:
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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-52: Probability I: Introductory Ideas
Martin Coleman, credit manager for Back's knows that the company uses three methods to encourage col...
Problem-08: Grouping and Displaying data to convey meaning
A recent concerning the habits of U.S. cable television consumers produced the following data.
Problem-07: Measures of Central Tendency and Dispersion in Frequency Distributions
The owner of pest R Us in interested in building a new store. The owner will build if the average nu...
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-51: Measures of Central Tendency and Dispersion in Frequency Distributions
The Casual Life Insurance Company is considering purchasing a new fleet of company cars. The financi...
Problem-41: Grouping and Displaying data to convey meaning
The National Association of Real Estate Sellers has collected these data on a sample of 130 salespeo...
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-50: Probability Distribution
On the basis of past experience, automobile inspectors in Pennsylvania have noticed that 5 percent o...
Problem-46: Probability Distribution
The manager of a Spitty Lube auto lubrication shop is trying to revise his policy on ordering grease...
Problem-65: Probability I: Introductory Ideas
The scheduling offi cer for a local police department is trying to decide whether to schedule additi...
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: Grouping and Displaying data to convey meaning
Cline has obtained information on Section Crew #3’s coal production per shift for the same 35-shift ...
Problem-44: Testing Hypotheses: One Sample Tests
If a sample of 25 observations reveals a sample mean of 52 and a sample variance of 4.2, test the hy...
Problem-24: Testing Hypotheses: Two Sample Tests)
Donna Rose is a production supervisor on the disk-drive assembly line at Winchester Technologies. Wi...
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-05: Probability Distributions
the only information available to you regarding the probability distribution of a set of outcomes is...
Problem-53: Grouping and Displaying data to convey meaning
A reporter wants to know how the cost of compliance with the Americans with Disabilities Act (ADA) h...
Problem-09: Testing Hypotheses: Two Sample Tests
BullsEye Discount store has always prided itself on customer service. The store hopes that all Bulls...
Problem-45: Grouping and Displaying data to convey meaning
The High Point Fastener Company produces 15 basic items. The company keeps records on the number of ...
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-30: Probability Distributions
Given a binomial distribution with n = 25 and p = 0.032, use the poisson approximation to the binomi...
Problem-02: Quality and Quality Control
Altoona Tire Company sells its ATC-50 tires with a 50,000-mile tread-life warranty. Lorrie Ackerman,...
Problem-02: Probability I: Introductory Ideas
Give the probability for each of the following totals in the rolling of two dice: 1, 2, 5, 6, 7, 10,...
Problem-14: Grouping and Displaying data to convey meaning
Construct a relative frequency distribution using intervals of 4.0 lb/sq in..
Problem-53: Testing Hypotheses: One Sample Tests
A manufacturer of petite women’s sportswear has hypothesized that the average weight of the women bu...
Problem-11: Sampling and Sampling Distributions
A recent study by the EPA has determined that the amount of contaminants in Minnesota lakes (in part...
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-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-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-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-39: Testing Hypotheses: Two Sample Tests
SAT Services advertises that 80 percent of the time, its preparatory course will increase an individ...
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-14: Probability Distributions
For a binomial distribution with n = 12 and p = 0.45, use Appendix Table 3 to find.
Problem-85: Probability I: Introductory Ideas
BMT, Inc., is trying to decide which of two oil pumps to use in its new race car engine. One pump pr...
Problem-09: Chi-Square and Analysis of Variance
A financial consultant is interested in the differences in capital structure within different firm s...
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-54: Testing Hypotheses: Two Sample Tests
Fifty-eight of 2,000 randomly sampled corporations had their 1995 federal income tax returns audited...
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-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-36: Chi-Square and Analysis of Variance
Genes-and-Jeans, Inc., offers clones of such popular jeans as Generic, DNA, RNA, and Oops. The store...
Problem-48: Chi-Square and Analysis of Variance
For two populations thought to have the same variance, the following information was found.
A sampl...
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-12: Probability Distributions
Airport Rent-a-Car is a locally operated business in competition with several major firms. ARC is pl...
Problem-03: Testing Hypotheses: Two Sample Tests
Two independent samples were collec ted. For the fi rst sample of 42 items, the mean was 32.3 and t...
Problem-13: Estimation
Because the owner of the Bard’s Nook, a recently opened restaurant, has had difficulty estimating th...
Problem-63: Probability I: Introductory Ideas
Congressman Bob Forehead has been thinking about the upcoming midterm elections and has prepared the...
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...
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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