FINANCIAL ACCT-CONNECT
8th Edition
ISBN: 9781266627903
Author: Wild
Publisher: INTER MCG
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Cash
Accounts Receivable, Net
Inventory
Property, Plant and Equipment, net
Total Assets
Accounts Payable
Mortgage Payable
Common Stock, par $5
Retained Earnings
Total Liabilities and Owners' Equity
Sales for the year
Cost of Goods Sold
Net Income for the year
2021
25
65
50
140
280
50
100
90
40
280
4. Calculate the earnings per share. Show work.
A. $3.00
B. $4.00
$100
C. $2.00
D. $2.50
50
36
2. Using horizontal analysis, what is the change in inventory?
A. 35% increase
B. 35% decrease
C. 25% increase
D. 25% decrease
Using the information above, answer the following questions.
1. Using vertical analysis, what percentage is Mortgage Payable for year 2021? Show work.
A. 34.23%
B. 35.71%
C. 40%
D. 36.71%
3. Calculate the Accounts Receivable Turnover. Show work
A. 1.6 times
B. 1.6%
C. 1.8 times
D. 1.8%
2020
30
60
40
155
285
60
110
90
25
285
27
es
The general ledger of Zips Storage at January 1, 2024, Includes the following account balances:
Credits
Accounts
Cash
Accounts Receivable
Prepaid Insurance
Land
Accounts Payable
Deferred Revenue
Common Stock
Retained Earnings
Totaln
Debits
$25,300
16,100
13,400
155,000
$7,400
6,500
150,000
45,900
$209,800 $209,800
The following is a summary of the transactions for the year:
1. January 9
2. February 12
3. April 25
4. May 6
5. July 15.
6. September 10
7. October 31
8. November 20
9. December 30
Provide storage services for cash, $141,100, and on account, $55,700.
Collect on accounts receivable, $52,200.
Receive cash in advance from customers, $13,600.
Purchase supplies on account, $10,600.
Pay property taxes, $9,200.
Pay on accounts payable, $12,100.
Pay salaries, $130,600.
Issue shares of common stock in exchange for $34,000 cash.
Pay $3,500 cash dividends to stockholders.
Problem 3-9A (Algo) Part 5
5. Record adjusting entries. Insurance expired during the year is $7,700. Supplies…
eBook
Retained Earnings Statement
Zippy Zap Cameras Inc. reported the following results for the month ending October 31:
Retained earnings, October 1
Net income
Cash dividends declared
Stock dividends declared
Check My Work
Prepare a retained earnings statement for the fiscal year ended October 31.
Zippy Zap Cameras Inc.
Retained Earnings Statement
For the Month Ended October 31
M
Show Me How
#1
T/T
M
$1,838,500
661,900
200,000
515,000
|||| COL
ho
Chapter 2 Solutions
FINANCIAL ACCT-CONNECT
Ch. 2 - Provide the names of two (a) asset accounts, (b)...Ch. 2 - What is the difference between a note payable and...Ch. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Prob. 5DQCh. 2 - Should a transaction be recorded first in a...Ch. 2 - Prob. 7DQCh. 2 - Why does the recordkeeper prepare a trial balance?Ch. 2 - Prob. 9DQCh. 2 - Prob. 10DQ
Ch. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Prob. 13DQCh. 2 - Prob. 14DQCh. 2 - Prob. 15DQCh. 2 - Review the Apple balance sheet in Appendix A....Ch. 2 - Prob. 17DQCh. 2 - Prob. 18DQCh. 2 - Identify the items from the following list that...Ch. 2 - Prob. 2QSCh. 2 - Prob. 3QSCh. 2 - Prob. 4QSCh. 2 - Prob. 5QSCh. 2 - Prob. 6QSCh. 2 - Prob. 7QSCh. 2 - Prob. 8QSCh. 2 - Prob. 9QSCh. 2 - Prob. 11QSCh. 2 - Prob. 1ECh. 2 - Prob. 2ECh. 2 - Prob. 3ECh. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Prob. 6ECh. 2 - Prob. 7ECh. 2 - Prob. 9ECh. 2 - Prob. 11ECh. 2 - Prob. 12ECh. 2 - Prob. 13ECh. 2 - Prob. 14ECh. 2 - A corporation had the following assets and...Ch. 2 - Prob. 16ECh. 2 - Prob. 17ECh. 2 - Prob. 18ECh. 2 - Prob. 19ECh. 2 - Prob. 20ECh. 2 - Prob. 21ECh. 2 - Prob. 22ECh. 2 - Prob. 1PSACh. 2 - Prob. 2PSACh. 2 - Prob. 3PSACh. 2 - Prob. 4PSACh. 2 - Prob. 5PSACh. 2 - Prob. 1PSBCh. 2 - Prob. 2PSBCh. 2 - Prob. 3PSBCh. 2 - Nuncio Consulting complete the following...Ch. 2 - Prob. 5PSBCh. 2 - Prob. 2SPCh. 2 - Prob. 1BTNCh. 2 - Key comparative figures for Apple and Google...Ch. 2 - Assume that you are a cashier and your manager...Ch. 2 - Prob. 4BTNCh. 2 - Prob. 6BTNCh. 2 - Prob. 7BTNCh. 2 - Prob. 8BTNCh. 2 - Samsung (www.Samsung.com) is a market leader in...
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