Minhajur Rahaman
Principals of Accounting Solutions
Problem-18: Accounting for Receivables
Elburn Supply Co. has the following transactions related to notes receivable during the last 2 month...
Problem-16: Corporations: Dividends, Retained Earnings, and income Reporting
The following accounts appear in the ledger of Horner Inc. after the books are closed at December 31...
Problem-19: Cost Volume Profit
Glacial Company estimates that variable costs will be 62.5% of sales, and fixed costs will total $60...
Problem-16: Budgetary Control and Responsibility Accounting
UrLink Company is a newly formed company specializing in high-speed Internet service for home and bu...
Problem-1: Plant Assets, Natural Resources and intangible Assets
Venable Company was organized on January 1. During the first year of operations, the following plant...
Problem-9: Standard Costs and Balanced Scorecard
Using the information in P25-1A, compute the overhead controllable variance and the overhead volume ...
Problem-13: Budgetary Planning
Fuqua Company's sales budget projects unit of part 198Z of 10,000 units in January, 12,000 units in ...
Problem-11: Cost Volume Profit
All that Blooms provides environmentally friendly lawn services for homeowners. Its operating costs ...
Problem-22: Accounting for Merchandising Operations
Presented below are selected accounts for McPhan Company as reported in the worksheet using a perpet...
Problem-14: Standard Costs and Balanced Scorecard
Monte Services, Inc. is trying establish the standard labor cost a typical oil change. The following...
Problem-14: Investments
Agee Company purchased 70% of the outstanding common stock of Himes Corporations.
Problem-10: Cost Volume Profit
Marty Moser wants Moser Company to use CVP analysis to study the effects of changes in costs and vol...
Problem-10: Current Liabilities and Payroll Accounting
Betancourt Company sells automatic can openers under a 75-day warranty for defective merchandise, Ba...
Problem-13: Current Liabilities and Payroll Accounting
Suppose the following financial data were reported by $3M Company for 2019 and 2020
3M CompanyBala...
Problem-07: Investments
Jenek Corporation had the following transactions pertaining to debt investments
Purchased 50 9%, $1...
Problem-22: Budgetary Planning
Nieto Company budgeted sales and direct materials purchases are as follows.
Problem 7-: Incremental Analysis and Capital Budgeting
Brooks Clinic is considering investing in new heart - monitoring equipment. It has two options. Opti...
Problem-11: Plant Assets, Natural Resources and intangible Assets
Benedict Company incurred the following costs.
Instructions
Indicate to which account Benedict w...
Problem-26: Inventories
Ehrhart Appliance uses a perpetual inventory system. For its flat-screen television sets, the Januar...
Problem-14: Job Order Costing
At May 31, 2020, the accounts of Lopez Company show the following.
May 1 inventories - finished goo...
Problem-19: Accounting Information Systems
Tresh Products uses both special journals and a general journal. Tresh also posts customers accounts...
Problem-9: Cost Volume Profit
Family Furniture Corporation incurred the following costs.
Wood used in the production of furniture...
Problem-20: Current Liabilities and Payroll Accounting
Podsednik Corporation has 20 employees who each earn $140 a day. The following information is availa...
Problem-11: Budgetary Control and Responsibility Accounting
The actual selling expenses incurred in March 2020 by Fallon Company are as follows.
Problem-3: Budgetary Control and Responsibility Accounting
Zelmer Company manufactures tablecloths. Sales have grown rapidly over the past 2 years. As a result...
Problem-1: Standard Costs and Balanced Scorecard
Rogen Corporation manufactures product. The standard cost per unit of product is shown below.
Direc...
Problem-11: Fraud, Internal Control, and Cash
The cash records of Dawes Company show the following four situations.
The June 30 bank reconciliat...
Problem-17: Corporations: Organization and Capital Stock Transactions
The stockholders equity section of Haley Corporation at December 31 is as follows.
Instructions
...
Problem-7: Accounting Information Systems
Nex Company uses both special journals and a general journal. On June 30, after all monthly postings...
Problem-6: Adjusting the Accounts
Johnson Graphics Company was organized on January 1, 2019, by Cameron Johnson. At the end of the fir...
Problem-17: Adjusting the Accounts
At Sekon Company prepayments are debited to expense when paid, and unearned revenues are credited to...
Problem-21: Accounting for Merchandising Operations
Financial information is presented below for three different companies.
Instructions
Determine t...
Problem-3: Accounting in Action
On June 1, Cindy Godfrey started Divine Designs Co., a company that provides cash opportunities by i...
Problem-8: Cost Volume Profit
The controller of Norton Industries has collected the following monthly expense data for use in anal...
Problem-2: Standard Costs and Balanced Scorecard
Ayala Corporation accumulates the following data relative to jobs started and finished during the mo...
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-24: Budgetary Control and Responsibility Accounting
The Ferrell Transportation Company uses a responsibility reporting system to measure the performance...
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-12: Long-Term Liabilities
On January 1, 2019, Forrester Company issued $400,000, 8%, 5-year bonds at face value. Interest is p...
Problem-16: Accounting for Merchandising Operations
Presented below is information for Kaila Company for the month of March 2019.
Instructions
Prepa...
Problem-5: Accounting for Merchandising Operations
The trial balance of Gaolee Fashion Center contained the following accounts at November 30, the end ...
Problem-09: Accounting for Partnerships
McGill and Smyth have capital balances on January 1 of $50,000 and $40,000, respectively. The partne...
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-21: Financial Statement Analysis
For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data sho...
Problem-2: Managerial Accounting
Bell company, a manufacturer of audio systems, started its production in October 2020. Fort the prec...
Problem-26: Budgetary Planning
Emeric and Ellie's painting Service estimates that it will paint 10 small homes, 5 medium homes, and...
Problem-7: Adjusting the Accounts
Hong Corporation encounters the following situations:
Hong collects $1,300 from a customer in 2019 ...
Problem-4: Cost Volume Profit
Mary Willis is the advertising manager for Bargain shoe Store. She is currently working on a major p...
Problem-8: The Recording Process
The following information relates to Sanculi Real Estate Agency:
Oct. 1
Alan Sanculi begins ...
Business Statistics Solutions
Problem-15: Measures of Central Tendency and Dispersion in Frequency Distributions
A professor has decided to use a weighted average in figuring final grades for this seminar students...
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-51: Testing Hypotheses: One Sample Tests
For the following situations, state appropriate null and alternative hypotheses.
(a) The Census Bu...
Problem-16: Probability I: Introductory Ideas
Classify the following probability estimates as classical, relative frequency, or subjective:
The p...
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-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-87: Probability I: Introductory Ideas
The pressroom supervisor for a daily newspaper is being pressured to find ways to print the paper cl...
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-04: Chi-Square and Analysis of Variance
Develop a table of observed and expected frequencies for this problem.
Problem-10: Probability Distributions
Ted Olson, the director of Overnight Delivery, Inc, has become concerned about the number of first-c...
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-59: Chi-Square and Analysis of Variance
Marketers know that tastes differ in various regions of the country. In the rental car business,
an...
Problem-23: Grouping and Displaying data to convey meaning
Stock exchange listings usually contain the company name, the high and low bids, the closing price, ...
Problem-12: Measures of Central Tendency and Dispersion in Frequency Distributions
Lillian Tyson has been the chairperson of the country library committee for 10 years. She contends t...
Problem-37: Probability I: Introductory Ideas
According to a survey, the probability that a family owns two cars if its annual income is greater t...
Problem-09: Sampling and Sampling Distributions
Robertson Employment Service customarily gives standard intelligence and aptitude tests to all peopl...
Problem-43: Chi-Square and Analysis of Variance
MacroSwift has designed a new operating system that will revolutionize the computing industry. The o...
Problem-54: Probability Distribution
The Nobb Door Company manufactures doors for recreational vehicles.
Problem-47: Probability I: Introductory Ideas
The university's library has been randomly surveying patrons over the last month to see who is using...
Problem-53: Testing Hypotheses: Two Sample Tests
The MBA program at Piedmont Business School offers Analytic Skills Workshop (ASW) during the summer ...
Problem-73: Probability I: Introductory Ideas
Which of the following pairs of events are statistically independent?
(a) The times until failure o...
Problem-23: Measures of Central Tendency and Dispersion in Frequency Distributions
Hayes Textiles has shown the following percentage increase in net worth over the last 5 years.
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-44: Probability Distribution
The manager of a small postal substation is trying to quantify the variation in the weekly demand fo...
Problem-65: Testing Hypotheses: One Sample Tests
Audio Sounds runs a chain of stores selling stereo systems and components. It has been very successf...
Problem-01: 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-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-21: Chi-Square and Analysis of Variance
Dennis Barry, a hospital administrator, has examined past records from 210 randomly selected 8-hour ...
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-26: Testing Hypotheses: One Sample Tests
From 1980 until 1985, the mean price/earnings (P/E) ratio of the approximately 1,800 stocks listed o...
Problem-16: Chi-Square and Analysis of Variance
Louis Armstrong, salesman for the Dillard Paper Company, has five accounts to visit per day. It is s...
Problem-10: Measures of Central Tendency and Dispersion in Frequency Distributions
National Tire Company holds reserve funds in short-term marketable securities. The ending daily bala...
Problem-48: Probability I: Introductory Ideas
The southeast regional manager of General Express, a parcel-delivery firm, is worried about the like...
Problem-51: Probability I: Introductory Ideas
Two related experiments are performed. The first has three possible mutually exclusive outcomes: A,B...
Problem-31: Sampling and Sampling Distributions
Members of the Organization for Consumer Action send more than 250 volunteers a day all over the sta...
Problem-33: Measures of Central Tendency and Dispersion in Frequency Distributions
Meridian Trucking maintains mileage records on all of its rolling equipment. Here are weekly mileage...
Problem-17: Testing Hypotheses: One Sample Tests
For the following cases, specify which probability distribution, to use in a hypothesis test:
(a) H...
Problem-19: Measures of Central Tendency and Dispersion in Frequency Distributions
The U.S. Postal Services handles seven basic types of letters and cards: third class, second class, ...
Problem-42: Testing Hypotheses: One Sample Tests
Picosoft, Ltd., a supplier of operating system software for personal computers, was planning the ini...
Problem-30: Chi-Square and Analysis of Variance
The manager of an assembly line in a clock manufacturing plant decided to study how different speeds...
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-08: Quality and Quality Control
For each of the following cases, fi nd the CL, UCL, and LCL for an R chart based on the given inform...
Problem-13: Testing Hypotheses: Two Sample Tests
A large stock-brokerage fi rm wants to determine how successful its new account executives have been...
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-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...
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-47: Chi-Square and Analysis of Variance
Sam Bogart, the owner of the Play-It-Again Stereo Company, offers 1-year warranties on
all the ster...
Problem-47: Testing Hypotheses: Two Sample Tests
Consider the data at the top of page 500. In the first three months of 1993, sales of luxury cary ca...
Problem-7: Testing Hypotheses: One Sample Tests
A grocery store has specially packaged oranges and has claimed a bag of oranges will yield 2.5 quart...
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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-6: Adjusting the Accounts
Johnson Graphics Company was organized on January 1, 2019, by Cameron Johnson. At the end of the fir...
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-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