Minhajur Rahaman
Principals of Accounting Solutions
Problem-22: Process Costing
Santana Mortgage Company uses a process cost system to accumulate cost in its Application Department...
Problem-14: Completing the Accounting Cycle
Noah Bahr Company discovered the following errors made in January 2019.
A payment of Salaries and W...
Problem-14: Investments
Agee Company purchased 70% of the outstanding common stock of Himes Corporations.
Problem-08: Corporations: Organization and Capital Stock Transactions
During its first year of operations, Foyle Corporation had the following transactions pertaining to ...
Problem-24: Process Costing
Kowalski Company manufactures a number of specialized machine parts. Part Compo-24 uses $35 of direc...
Problem-13: Inventories
Kari Downs, an auditor with Wheeler CPAs, is performing a review of Depue Company's inventory accoun...
Problem-15: Financial Statement Analysis
Keener Incorporation had the following transactions occur involving current assets and current liabi...
Problem-7: Standard Costs and Balanced Scorecard
Using the information in P25-1A, compute the overhead controllable variance and the overhead volume ...
Problem-3: Managerial Accounting
Incomplete manufactures costs, expenses, and selling data for two different cases are as follows
...
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-02: Corporations: Dividends, Retained Earnings, and Income Reporting
The stockholders equity accounts of Kerp Company at January 1, 2020, are as follows
Preferred Sto...
Problem-12: Accounting for Merchandising Operations
On June 10, Diaz Company purchased $8,000 of merchandise from Taylor Company, FOB shipping point, te...
Problem-17: Job Order Costing
Don Lieberman and Associates, a CPA firm, uses job order costing to capture costs of its audit jobs....
Problem-16: Statement of Cash Flows
The three accounts shown below appear in the general ledger of Herrick Corp. during 2020.
Instruc...
Problem-12: Corporations: Dividends, Retained Earnings, and Income Reporting
Before preparing financial statements for the current year, the chief accountant for Toso Company di...
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-11: Current Liabilities and Payroll Accounting
Gallardo Co. is involved in a lawsuit as a result of an accident that took place September 5, 2020. ...
Problem-07: Statement of Cash Flows
The following are the financial statements of Nosker Company.
Nosker Company.Comparative Balance Sh...
Problem-31: Inventories
Kicks Shoe Store uses the retail inventory method for its two departments. Women's Shoe and Men's Sh...
Problem-12: Plant Assets, Natural Resources and intangible Assets
On March 1, 2019, Westmorian Company acquired real estate on which it planned to construct a small o...
Problem-8: Completing the Accounting Cycle
The adjusted trial balance columns of the worksheet for Savaglia Company are as follows
Savaglia Co...
Problem-6: Managerial Accounting
Presented below is a list of costs and expenses usually incurred by Barnum Corporation, a manufactur...
Problem-24: Long-Term Liabilities
Adcock Company issued $600,000, 9%, 20-year bonds on January 1, 2019, at 103. interest is payable an...
Problem-04: Financial Statement Analysis
Financial information for Messersmith Company is presented below
Additional Information
Invent...
Problem-16: Accounting for Receivables
Presented below are two independent situations.
On April 2, Jennifer Eiston uses her JCPenney Compa...
Problem-11: Long-Term Liabilities
On January 1, 2019, Klosterman Company issued $500,000, 10%, 10-year bonds at face value. Interest i...
Problem-03: Long-Term Liabilities
The following section is taken from Mareska's balance sheet at December 31, 2020.
Bond interest...
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...
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-10: Investments
Nosker Inc. had the following transactions pertaining to investments in common stock.
Jan. 1Purchas...
Problem-06: Corporations: Organization and Capital Stock Transactions
Irwin Corporation has been authorized to isue 20,000 shares of $100 par value, 10% preferred stock a...
Problem-2: Accounting for Receivables
Information related to Mingenback Company for 2019 is summarized below.
Total credit sales$2,500,00...
Problem-23: Statement of Cash Flows
The following information is taken from the 2020 general ledger of Swisher Company
Instructions
...
Problem-21: Standard Costs and Balanced Scorecard
Manufacturing overhead data for the production of product H by shakira company are as follows.
Problem-04: Accounting for Partnerships
At April 30, partners capital balances in PDL Company are G. Donley $52,000, C. Lamar $48,000, and J...
Problem-05: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Shellenburger Inc. had the following stockholders' equity account balances.
C...
Problem-3: Adjusting the Accounts
Alena Co. was organized on July 1, 2019. quarterly financial statements are prepared. The unadjusted...
Problem-16: Completing the Accounting Cycle
The adjusted trial balance for McC Bowling Alley at December 31, 2019, contains the following accoun...
Problem-08: Financial Statement Analysis
Terwilliger Corporation owns a number of cruise ships and a chain of hotels. The hotels, which have ...
Problem-2: Accounting for Merchandising Operations
Renner Hardware Store completed the following merchandising transactions in the month of May. At the...
Problem-8: Budgetary Control and Responsibility Accounting
Myers Company uses a flexible for manufacturing overhead based on direct labor hours. Variable manuf...
Problem-10: Current Liabilities and Payroll Accounting
Betancourt Company sells automatic can openers under a 75-day warranty for defective merchandise, Ba...
Problem-18: The Recording Process
Selected transactions for A. Mane, an interior decorator, in her first month of business, are as fol...
Problem-01: Corporations: Dividends, Retained Earnings, and Income Reporting
On January 1, 2020, Geffrey Corporation had the following stockholders equity accounts.
Common St...
Problem-4: Completing the Accounting Cycle
Vang Management Services began business on January 1, 2019, with a capital investment of $120,000. t...
Problem-18: Budgetary Planning
Fultz Company has accumulated the following budget data for the year 2020.
Problem-4: The Recording Process
The trial balance of Avtar Sandhu Co. Shown below does not balance
AVTAR SANDHU CO.Trial BalanceJun...
Business Statistics Solutions
Problem-52: Probability Distribution
Maurine Lewis, an editor for a large publishing company, calculates that it requires 11 months on av...
Problem-59: Probability Distribution
An inspector for the U>S> Department of Agriculture is about to visit a large meat-packing company.
...
Problem-2: Testing Hypotheses: One Sample Tests
An automobile manufacturer claims that a particular model gets 28 miles to the gallon. The Environme...
Problem-14: Sampling and Sampling Distributions
Farmer Braun, Who sells grain to Germany, owns 60 acres of wheat fields. Based on past experience, h...
Problem-80: Probability I: Introductory Ideas
A senior North Carolina senator knows he will soon vote on a controversial bill. To learn his consti...
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-46: Testing Hypotheses: One Sample Tests
For a sample of 60 women taken from a population of over 5,000 enrolled in a weight- reducing progra...
Problem-15: Testing Hypotheses: One Sample Tests
What is the relationship between the significance level of a test and Type I error?Contact us for th...
Problem-77: Testing Hypotheses: One Sample Tests
A stockbroker claims that she can predict with 85 percent accuracy whether a stock’s market value wi...
Problem-47: Measures of Central Tendency and Dispersion in Frequency Distributions
Estimate the mode for the distribution given are given below
Problem-46: Testing Hypotheses: Two Sample Tests
A buffered aspirin recently lost some of its market share to a new competitor. The competitor advert...
Problem-12: Grouping and Displaying data to convey meaning
Mr.Franks, a Safety engineer for the Mars Point Nuclear Power Generating Station, has charted the pe...
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-50: Measures of Central Tendency and Dispersion in Frequency Distributions
Here are student scores on a history quiz. Find the 80th percentile.
Problem-81: Probability I: Introductory Ideas
The breakdown by political party of the 435 members of the U.S. House of Representatives before and ...
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-70: Probability I: Introductory Ideas
An air traffi c controller at Dulles Airport must obey regulations that require her to divert one of...
Problem-03: Grouping and Displaying data to convey meaning
Transmission Fix-It stores recorded the number of service tickets submitted by each of its 20 stores...
Problem-60: Testing Hypotheses: Two Sample Tests
A group of British Physicians replicated a U.S. management survey of medical directors, asking which...
Problem-16: Probability Distributions
The latest nationwide political poll indicates that for Americans who are randomly selected, the pro...
Problem-55: Testing Hypotheses: One Sample Tests
In Exercise SC 8-5, what would be the power of the test for μ = 14,000,13,500, and 13,000 if the sig...
Problem-65: Grouping and Displaying data to convey meaning
Maribor Cement Company of Montevideo, Uruguay, hired Delbert Olsen, an American manufacturing consul...
Problem-44: Probability Distribution
The manager of a small postal substation is trying to quantify the variation in the weekly demand fo...
Problem-07: Chi-Square and Analysis of Variance
To see whether silicon chip sales are independent of where the U.S. economy is in the business cycle...
Problem-03: Quality and Quality Control
For each of the following cases, find the CL, UCL, and LCL for an x chart based on the given informa...
Problem-38: Testing Hypotheses: One Sample Tests
Some financial theoreticians believe that the stock market’s daily prices constitute a “random walk ...
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-11: Estimation
From a population with known standard deviation of 1.65, a sample of 32 items resulted in 34.8 as an...
Problem-49: Probability I: Introductory Ideas
Given: The probabilities of three events, A, B, and C, occurring are P(A)= 0.35, P(B)= 0.45, and P(C...
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-19: Testing Hypotheses: Two Sample Tests
Nine computer-components dealers in major metropolitan areas were asked for their prices on two sim...
Problem-52: Chi-Square and Analysis of Variance
An insurance company is interested in the length of hospital-stays for various illnesses. The
compa...
Problem-66: Grouping and Displaying data to convey meaning
BMT, Inc., manufactures performance equipment for cars used in various types of racing. It has gathe...
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-55: Probability I: Introductory Ideas
An independent research group has been studying the chances that an accident at a nucler power plant...
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-45: Testing Hypotheses: Two Sample Tests
Allen Distributing Company hypothesizes that a phone call is more effective than a letter in speedin...
Problem-48: Grouping and Displaying data to convey meaning
The U.S. Department of Labor publishes several classifi cations of the unemployment rate, as well as...
Problem-31: Grouping and Displaying data to convey meaning
Here is a frequency distribution of the weight of 150 people who used a ski lift a certain day. Cons...
Problem-04: Quality and Quality Control
The Wilson Piston Company manufactures pistons for LawnGuy mowers, and the diameter of each piston m...
Problem-16: Estimation
The school board of For sight County considers its most important task to be keeping the average cla...
Problem-35: Probability Distributions
Southwestern Electronic has developed a new calculator that performance a series of functions not ye...
Problem-29: Probability Distributions
If the prices of new cars increase an average of four times every 3 yeaes, find the probability of
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-25: Chi-Square and Analysis of Variance
A professional baseball player, Lon Dakestraw, was at bat fi ve times in each of 100 games. Lon clai...
Problem-56: Chi-Square and Analysis of Variance
Two competing ice cream stores, Yum-Yum and Goody, both advertise quarter-pound scoops
of ice cream...
Problem-35: Measures of Central Tendency and Dispersion in Frequency Distributions
For the following frequency distributions,
Problem-39: Testing Hypotheses: Two Sample Tests
SAT Services advertises that 80 percent of the time, its preparatory course will increase an individ...
Problem-32: Measures of Central Tendency and Dispersion in Frequency Distributions
For the following frequency distributions, determine
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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