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P3-10 P3-4 You have a trust fund that will pay you $1 million exactly ten years

P3-10 P3-4 You have a trust fund that will pay you $1 million exactly ten years from today. You want cash now, so you are considering an opportunity to sell the right to the trust…

P3-11 (L07) (Cash and Accrual Basis) On January 1, 2017, Norma Smith and Grant W

P3-11 (L07) (Cash and Accrual Basis) On January 1, 2017, Norma Smith and Grant Wood formed a computer sales and service company in Soapsville, Arkansas, by investing $90,000 cash.…

P3-11 (LO7) (Cash and Accrual Basis) On January 1, 2017, Norma Smith and Grant W

P3-11 (LO7) (Cash and Accrual Basis) On January 1, 2017, Norma Smith and Grant Wood formed a computer sales and y in Soapsville, Arkansas, by investing $90,000 cash. The new compa…

P3-11 Worksheet The Fiorillo Company has the following account balances on Decem

P3-11 Worksheet The Fiorillo Company has the following account balances on December 31, 2010 prior to any adjustments: Debit Credit Cash $ 1,900 Accounts receivable 4,700 Allowanc…

P3-17 Calculating Financial Ratios [LO2] Just Dew It Corporation reports the fol

P3-17 Calculating Financial Ratios [LO2] Just Dew It Corporation reports the following balance sheet information for 2008 and 2009. JUST DEW IT CORPORATION 2008 and 2009 Balance S…

P3-19) Evaluate each of the following independent sitations to determine the typ

P3-19) Evaluate each of the following independent sitations to determine the type of accounting change (correction of error, change in accounting policy, or change in estimate) ad…

P3-1A Logan Krause started her own consulting firm, Krause Consulting, on May 1,

P3-1A Logan Krause started her own consulting firm, Krause Consulting, on May 1, 2017. The trial balance at May 31 is as follows. KRAUSE CONSULTING Trial Balance May 31, 2017 Acco…

P3-2 Adjustment process Adjustment data for Oasis Health Care Inc. for January a

P3-2 Adjustment process Adjustment data for Oasis Health Care Inc. for January are as follows: 1. Insurance expired, $800. 2. Supplies on hand on January 31, $1,100. 3. Depreciati…

P3-2 Miloslav began a magazine delivery service, which he named Miloslav’s Magaz

P3-2    Miloslav began a magazine delivery service, which he named Miloslav’s Magazines, on January 1, 2001. The following transactions occurred during 2001: a. Sold stock for $3,…

P3-2 Miloslav began a magazine delivery service, which he named Miloslav’s Magaz

P3-2    Miloslav began a magazine delivery service, which he named Miloslav’s Magazines, on January 1, 2001. The following transactions occurred during 2001: a. Sold stock for $3,…

P3-2 Prepare a classified balance sheet ignoring monetary accounts the data list

P3-2 Prepare a classified balance sheet ignoring monetary accounts the data listed below are taken from a balance sheet of trident corporation at december 31 2016 some amounts, in…

P3-2A Lazy River Resort Ltd. opened for business on June 1, 2017. Its trial bala

P3-2A Lazy River Resort Ltd. opened for business on June 1, 2017. Its trial balance before adjustment on August 31 is as follows. LAZY RIVER RESORT LTD. Trial Balance August 31, 2…

P3-2A Ortega Industries Inc. manufactures in separate processes furniture for ho

P3-2A Ortega Industries Inc. manufactures in separate processes furniture for homes. In each process, materials are entered at the beginning, and conversion costs are incurred uni…

P3-2B Maquoketa River Resort opened for business on June 1 with eight air- condi

P3-2B Maquoketa River Resort opened for business on June 1 with eight air- conditioned units. Its trial balance before adjustment on August 31 is as follows MAQUOKETA RIVER RESORT…

P3-3 (SA) The following is a dec 31 2016 post closing trial balance for almway c

P3-3 (SA) The following is a dec 31 2016 post closing trial balance for almway corporation account title     Debit                          Credit Cash             45,000 investme…

P3-3 Explain why an adjusting entry is needed and calculate the amount of the ad

P3-3 Explain why an adjusting entry is needed and calculate the amount of the adjustment [15-25 min] Descriptions of transactions and how they were recorded follow for October 201…

P3-3 U.S. Political Consultants has been in existence for manyyears. During the

P3-3 U.S. Political Consultants has been in existence for manyyears. During the month of November, the following eventsoccurred: 1. The owner’s contributed an additional 6,500 to …

P3-30. High-Low Cost Estimation and Profit Planning Comparative 2011 and 2012 in

P3-30. High-Low Cost Estimation and Profit Planning Comparative 2011 and 2012 income statements for Dakota Products Inc. follow: DAKOTA PRODUCTS INC. Comparative Income Statements…

P3-33A (similar to) Laughter Landscaping has collected the following data for th

P3-33A (similar to) Laughter Landscaping has collected the following data for the December 31 adjusting entries: Requirements ffecting Laughter Landscapir 1. Journalize the adjust…

P3-33A Journalizing adjusting entries and subsequent journal entries Laughter La

P3-33A Journalizing adjusting entries and subsequent journal entries Laughter Landscaping has collected the following data for the December 31 adjusting entries: Each Friday, Laug…

P3-34) Prepare, in good form a) a statement of comprehensive income that include

P3-34) Prepare, in good form a) a statement of comprehensive income that includes net income and comprehensive income in one schedule, and b) a statement of changes in equity. Acc…

P3-34A Journalizing adjusting entries and identifying the impact on financial St

P3-34A Journalizing adjusting entries and identifying the impact on financial Statements Griffin Fishing Charters has collected the following data for the December 31 adjusting en…

P3-34A Journalizing adjusting entries and identifying the impact on financial st

P3-34A Journalizing adjusting entries and identifying the impact on financial statements Griffin Fishing Charters has collected the following data for the December 31 adjusting en…

P3-35) The following is a partial list of accounts and their balances for Davids

P3-35) The following is a partial list of accounts and their balances for Davidson Company as at December 31, 2013. Prepare, in good form, the following: a) a statement of changes…

P3-3A Alena Co. was organized on July 1, 2017. Quarterly financial statements ar

P3-3A Alena Co. was organized on July 1, 2017. Quarterly financial statements are pre- pared. The unadjusted and adjusted trial balances as of September 30 are shown below. ALENA …

P3-4A. Job Cost Journal Entries Prior to the beginning of 2016. Lowe Company est

P3-4A. Job Cost Journal Entries Prior to the beginning of 2016. Lowe Company estimated that i cur $176,000 of manufacturing overhead cost during 2016, using 16,000 direct labor ho…

P3-5B Bob Royce incorporated Royce Consulting, an accounting practice, on May 1,

P3-5B Bob Royce incorporated Royce Consulting, an accounting practice, on May 1,    2014. During the first month of operations, these events and transactions occurred.   May 1 Sto…

P3-6) A company purchased a machine for $10,000,000 on January 1, 2013. The mach

P3-6) A company purchased a machine for $10,000,000 on January 1, 2013. The machine has a to-year estimated useful life and an estimated residual value of $1,000,000. The company …

P3-65A is the one required Requirements 1. Using Exhibit 3 - 9 as an example, pr

P3-65A is the one required Requirements 1. Using Exhibit 3 - 9 as an example, prepare the adjusted trial balance of London, Inc., at December 31, 20X6. Key each adjusting entry by…

P3-67B. (Learning Objective 1: Explain how accrual accounting differs from cash-

P3-67B. (Learning Objective 1: Explain how accrual accounting differs from cash-basis accounting) Whittaker Consulting had the following selected transactions in July: LO July 1 4…

P3-6B Mountain Biking Corp. opened on April 1. The following selected events and

P3-6B Mountain Biking Corp. opened on April 1. The following selected events and transactions occurred during April: Issued common shares for $100,000 cash. Purchased an out-of-us…

P3-70B. (Learning Objective 3: Adjust the accounts) Peppertree Rentals, Inc.\'s,

P3-70B. (Learning Objective 3: Adjust the accounts) Peppertree Rentals, Inc.'s, unadjustedLO 3 and adjusted trial balances at June 30, 2016, follow: A1 Peppertree Rentals, Inc. Tr…

P3-8 (L03,4,5) (Adjusting Entries and Financial Statements) Vedula Advertising w

P3-8 (L03,4,5) (Adjusting Entries and Financial Statements) Vedula Advertising was founded by Murali Vedula in January 2015. On the next page are both the adjusted and unadjusted …

P3-8A Big Sky Drive-In Theater Inc. was recently formed. It began operations in

P3-8A Big Sky Drive-In Theater Inc. was recently formed. It began operations in April Jou 2007. On April 1, the ledger of Big Sky showed: Cash $31,000; Land $52,000; Buildings ane…

P3-8A The Star-Lite Theater Inc. was recently formed. It began operations in Mar

P3-8A The Star-Lite Theater Inc. was recently formed. It began operations in March 2010. The Star-Lite is unique in that it will show only triple features of sequential theme movi…

P3-8A The Triqnel Theater Inc, was recently formed. t hegan operations in March

P3-8A The Triqnel Theater Inc, was recently formed. t hegan operations in March 2017 The Triqnel is unique in that it will show only triple features of sequential theme movies On …

P3-9 (Adjusting and Closing) Presented below is the trial balance of the Crestwo

P3-9 (Adjusting and Closing) Presented below is the trial balance of the Crestwood Golf Club, Inc. as of December 31. The books are closed annually on December 31. CRESTWOOD GOLF …

P3-9 (L02,3,4,5) (Adjusting and Closing) Presented below is the trial balance of

P3-9 (L02,3,4,5) (Adjusting and Closing) Presented below is the trial balance of the Crestwood Golf Club, Inc. as of Decem- ber 31The books are closed annually on December 31 CRES…

P3-g (similar to) Present value (with changing years). When they are first bom,

P3-g (similar to) Present value (with changing years). When they are first bom, Grandma gives each of her grandchildren a $5,000 savings bond that matures in 18 years. For each of…

P3. (15 points) Prepare the journal entries and T accounts and financial stateme

P3. (15 points) Prepare the journal entries and T accounts and financial statement for the following 10 items. (15 pts) 1. Issue 1,000 of common stock 2. Borrow 50,000 from the ba…

P3. Consider an application that transmits data at a steady rate (for example, t

P3. Consider an application that transmits data at a steady rate (for example, the sender generates an N-bit unit of data every k time units, where k is small and fixed). Also, wh…

P3. Consider an application that transmits data at a steady rate (for example, t

P3. Consider an application that transmits data at a steady rate (for example, the sender generates an N-bit unit of data every k time units, where k is small and fixed). Also, wh…

P3. Lisowski Laptops is examining the possibility of manufacturing and selling a

P3. Lisowski Laptops is examining the possibility of manufacturing and selling a notebook computer that is compatible with both PCs and Macintosh systems and that can receive tele…

P3. Rexburg annually averages about 14 inches of precipitation. For calculation

P3. Rexburg annually averages about 14 inches of precipitation. For calculation purposes, assume that all of this precipitation falls as rain. The rain forms as water vapor conden…

P3. The following items are taken from the 2017 balance sheet of Yahoo!, Inc. (A

P3. The following items are taken from the 2017 balance sheet of Yahoo!, Inc. (All dollars are in thousands.) $3,031,623 Intangible assets Common stock Property and equipment, net…

P3.1 Given the following date class interface: class date private: int month 1-1

P3.1 Given the following date class interface: class date private: int month 1-12 int day; 1 28, 29, 30, 31 depending on month & year int year: 4-digit, e.g., 2017 public date…

P3.11 Consolidation of Variable Interest Entities GM Financial, General Motors C

P3.11 Consolidation of Variable Interest Entities GM Financial, General Motors Company's financ- ing segment, has special purpose entiies that are consolidated in GM's financial s…

P3.11 Consolidation of Variable Interest Entities GM Financial, General Motors C

P3.11 Consolidation of Variable Interest Entities GM Financial, General Motors Company's financ- ing segment, has special purpose entiies that are consolidated in GM's financial s…

P3.11 Consolidation of Variable Interest Entities ing segment, has special purpo

P3.11 Consolidation of Variable Interest Entities ing segment, has special purpose entities that are con solidated in GM's financial statements. GM Finan cial transfers receivable…

P3.11 Consolidation of Variable Interest Entities ing segment, has special purpo

P3.11 Consolidation of Variable Interest Entities ing segment, has special purpose entities that are con solidated in GM's financial statements. GM Finan cial transfers receivable…