Minhajur Rahaman
Principals of Accounting Solutions
Problem-16: Standard Costs and Balanced Scorecard
Lewis Company's standard labor cost of producing one unit of product DD is 4 hours at the rate of $1...
Problem-4: Accounting for Receivables
Rigney Inc. uses the allowance method to estimate uncollectable accounts receivable. The company pro...
Problem-15: Corporations: Dividends, Retained Earnings, and Income Reporting
Dirk Company reported the following balances at December 31, 2020; common stock $500,000, paid-in-ca...
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-19: Accounting for Receivables
Record the following transactions for Redeker Co. in the general journal.
2020
May 1Received a $9,...
Problem-18: Managerial Accounting
The following information is available for Aikman Company.
Instructions
Compute cost of goods ma...
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-19: Budgetary Planning
Danner Company expects to have a cash balance of $45,000 on January 1, 2020. Relevant monthly budge...
Problem-1: Budgetary Control and Responsibility Accounting
Bumblebee Company estimates that 300,000 direct labor hours will be worked during the coming year, 2...
Problem-19: Process Costing
David Skaros has recently been promoted to production manager. He has just started to receive variou...
Problem-11: Corporations: Organization and Capital Stock Transactions
As an auditor for the CPA firm of Hinkson and Calvert, you encounter the following situations in aud...
Problem-13: Inventories
Kari Downs, an auditor with Wheeler CPAs, is performing a review of Depue Company's inventory accoun...
Problem-28: Accounting for Merchandising Operations
This information relates to Chung Co.
On April 5, purchased merchandise from Jose Company for $21...
Problem-11: Accounting for Merchandising Operations
Presented below are transactions related to R. Humphrey Company
On December 3, R. Humphrey Compan...
Problem-20: Managerial Accounting
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the...
Problem-03: Current Liabilities and Payroll Accounting
Mann Hardware has four employees who are paid on an hourly basis plus time-and-a-half for all hours ...
Problem-16: Completing the Accounting Cycle
The adjusted trial balance for McC Bowling Alley at December 31, 2019, contains the following accoun...
Problem-11: Job Order Costing
A job cost sheet of Sandoval Company is given below.
Instructions
Answer the following questions...
Problem-16: Financial Statement Analysis
Frizell Company has the following comparative balance sheet data.
Additional information for 2020...
Problem-18: Financial Statement Analysis
The income statement for Sutherland, Inc. appears below.
Additional information:
The weighted-av...
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-27: Long-Term Liabilities
LRNA Company issued $380,000, 7%, 10-year bonds on January 1, 2020, for $407,968. This price resulte...
Problem-15: Long-Term Liabilities
Whitmore Company issued $500,000 of 5-year, 8% bonds at 97 on January 1, 2021. the bonds pay interes...
Problem-11: Managerial Accounting
National Express the following costs and expenses in June 2020 for its delivery service.
Instruct...
Problem-15: Inventories
Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts, Information rela...
Problem-23: Completing the Accounting Cycle
The adjusted trial balance for Okabe Company is presented bellow
Okabe Company Adjusted Trial Blanc...
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-5: The Recording Process
The Starr Theater, owned by Meg Vargo will begin operation in March. The Starr will be unique in tha...
Problem-7: Plant Assets, Natural Resources and intangible Assets
The intangible assets section of Sappelt Company at December 31, 2019, is presented below.
The pa...
Problem-18: Corporations: Organization and Capital Stock Transactions
The stockholders equity section of Aluminum Company of America (Alcoa) showed the following ( in alp...
Problem-11: Accounting for Receivables
The Jedger of Costello Company at the end of the current year shows Accounts Receivable $110,000, Sa...
Problem-06: Accounting for Partnerships
Mark Rensing has prepared the following list of statements about partnerships
A partnership is an a...
Problem-24: Statement of Cash Flows
Comparative balance sheets for International Company are presented below
International CompanyCompa...
Problem-09: Investments
Hulse Company had the following transactions pertaining to stock investments.
Feb. 1Purchased 600 s...
Problem-13: Current Liabilities and Payroll Accounting
Suppose the following financial data were reported by $3M Company for 2019 and 2020
3M CompanyBala...
Problem-18: Budgetary Planning
Fultz Company has accumulated the following budget data for the year 2020.
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-09: Corporations: Organization and Capital Stock Transactions
Osage Corporation issued 2,000 shares of stock.
Instruction
The stock had a par value of $5 per sh...
Problem-8: Budgetary Control and Responsibility Accounting
Myers Company uses a flexible for manufacturing overhead based on direct labor hours. Variable manuf...
Problem-12: Current Liabilities and Payroll Accounting
Younger Online Company has the following liability accounts after posting adjusting entries: Account...
Problem-16: Adjusting the Accounts
The trial balances before and after adjustment for Turnquist Company at the end of its fiscal year a...
Problem-5: Budgetary Control and Responsibility Accounting
Optimus Company manufactures a variety of tools and industrial equipment. The company operates throu...
Problem-25: Accounting for Merchandising Operations
On January 1, 2019, Brooke Hanson Corporation had inventory of $50,000. At December 31, 2019, Brooks...
Problem-10: Investments
Nosker Inc. had the following transactions pertaining to investments in common stock.
Jan. 1Purchas...
Problem-5: Accounting for Merchandising Operations
The trial balance of Gaolee Fashion Center contained the following accounts at November 30, the end ...
Problem-21: Long-Term Liabilities
Gilliland Airlines is considering two alternatives for the financing of a purchase of fleet of airpl...
Business Statistics Solutions
Problem-51: Chi-Square and Analysis of Variance
Mr. Raj, an investor, has narrowed his search for a mutual fund down to the Oppy fund or the
MLPFS ...
Problem-02: 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-04: Estimation
The National Bank of Lincoln is trying to determine the number of tellers available during the lunch...
Problem-07: Sampling and Sampling Distributions
An astronomer at the Mount Palomar Observatory notes that during the Gemind meteor shower, an averag...
Problem-30: Testing Hypotheses: One Sample Tests
Each day, the United States Customs Service has historically intercepted about $28 million in contra...
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-13: Estimation
Because the owner of the Bard’s Nook, a recently opened restaurant, has had difficulty estimating th...
Problem-01: Probability I: Introductory Ideas
Give a collectively exhaustive list of the possible outcomes of tossing tow dice.
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-13: Measures of Central Tendency and Dispersion in Frequency Distributions
Dave’s Giveaway Store advertises, “If our average prices are not equal or lower than everyone else’s...
Problem-67: Testing Hypotheses: One Sample Tests
In 1996, it was estimated that about 72 percent of all U.S. households were cable TV sub- scribers. ...
Problem-78: Testing Hypotheses: One Sample Tests
A manufacturer of a vitamin supplement for newborns inserts a coupon for a free sample of its produc...
Problem-55: Probability Distribution
Which probability distribution is most likely the appropriate one to use for the following variables...
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-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-04: Testing Hypotheses: Two Sample Tests
Block Enterprises, a manufacturer of chip s for computers, is in the process of deciding whether to ...
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-28: Probability I: Introductory Ideas
What is the probability that a couple's second child will be
(a) A boy, given that their first chi...
Problem-26: Estimation
Chief of Police Kathy Ackert has recently instituted a crackdown on drug dealers in her city. Since ...
Problem-66: Probability I: Introductory Ideas
The Environmental Protection Agency is trying to assess the pollution effect of a paper mill that is...
Problem-17: Measures of Central Tendency and Dispersion in Frequency Distributions
Keyes Home Furnishings ran six local newspaper advertisements during December.
Problem-13: Probability Distributions
We Car Air needs to make a decision about Flight 105. There are currently 3 seats reserved for last-...
Problem-36: Grouping and Displaying data to convey meaning
The Massachusetts Friends of Fish has the following data representing pollutants (in parts per milli...
Problem-20: Testing Hypotheses: One Sample Tests
If you have decided that a one-tailed test is the appropriate test to use, how do you decide whether...
Problem-82: Probability I: Introductory Ideas
A produce shipper has 10,000 boxes of bananas from Ecuador and Honduras. An inspection has determine...
Problem-47: Testing Hypotheses: One Sample Tests
The data-processing department at a large life insurance company has installed new color video displ...
Problem-11: Grouping and Displaying data to convey meaning
High Performance Bicycle Products Company in Chapel Hill, North Carolina, Sampled its Shipping recor...
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-17: Probability I: Introductory Ideas
Frome the following Venn diagram, which indicates the number of outcomes of an experiment correspond...
Problem-21: Chi-Square and Analysis of Variance
Dennis Barry, a hospital administrator, has examined past records from 210 randomly selected 8-hour ...
Problem-59: Grouping and Displaying data to convey meaning
A. T. Cline, the mine superintendent of the Grover Coal Co., has recorded the amount of time per wor...
Problem-20: Measures of Central Tendency and Dispersion in Frequency Distributions
Matthews, Young and Associates, a management consulting firm, has four types of professionals on its...
Problem-19: Probability I: Introductory Ideas
From the following Venn diagram, which indicates the number of outcomes of an experiment correspondi...
Problem-28: Grouping and Displaying data to convey meaning
Kessler's Ice Cream Delight attempts to keep all of its 55 flavors of ice cream in stock at each of ...
Problem-02: Grouping and Displaying data to convey meaning
TABLE: HIGH SCHOOL AND COLLEGE GRADE-POINT AVERAGES OF 20 COLLEGE SENIORS
H.S.CollegeH.S.CollegeH...
Problem-06: Grouping and Displaying data to convey meaning
The orange County Transportation Commission is concerned about the speed motorists are driving on a ...
Problem-41: Testing Hypotheses: One Sample Tests
Given a sample mean of 83, a sample standard deviation of 12.5, and a samplesize of 22, test the hyp...
Problem-16: Estimation
The school board of For sight County considers its most important task to be keeping the average cla...
Problem-24: Chi-Square and Analysis of Variance
A supermarket manager is keeping track of the arrival of customers at checkout counters to see how m...
Problem-05: Estimation
Electric Pizza was considering national distribution of its regionally successful product and was co...
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-23: Probability Distributions
A month later, Mayor Bruns picks up the morning edition of the city's leading newspaper, the sun-Ame...
Problem-47: Measures of Central Tendency and Dispersion in Frequency Distributions
Estimate the mode for the distribution given are given below
Problem-59: Probability I: Introductory Ideas
T.C Fox, marketing director for Metro-Goldmine Motion pictures, believes that the studio's upcoming ...
Problem-33: Probability Distributions
Guy Ford, production supervisor for the Winstead Company's Charlottesville plant, is worried about a...
Problem-13: Testing Hypotheses: One Sample Tests
Defi ne Type I and Type II errors.Contact us for the solution
Problem-37: Probability Distribution
The U.S. Bureau of printing and Engraving is responsible for printing this country's paper money.
Problem-48: Probability Distribution
Sgt. Wellborn Fitte, the U>S> Army's quartermaster at Fort Riley, Kansas, prides himself on being ab...
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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