Week Five Exercise Assignment Financial Ratios 1. Liquidity ratios.Edison, Stagg, and Thornton have the following financial information at the close of business on July 10: Edison […]

DQ: 01 What is a current liability? From the perspective of a user of financial statements, why do you believe current liabilities are separated from long-term […]

Week Four Exercise Assignment Liability 1. Payroll accounting. Assume that the following tax rates and payroll information pertain to Brookhaven Publishing: · Social Security taxes: 6% […]

Week 3 DQ 1 .The controller of Sagehen Enterprises believes that the company should switch from the LIFO method to the FIFO method. The controller’s bonus […]

Week Three Exercise Assignment Inventory 1. Specific identification method. Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows. […]

DQ 1 Accounting Cycle Financial statements are a product of the accounting cycle. Think about two different companies: a manufacturing company, and a retail company. Why […]

Week Two Exercise Assignment Revenue and Expenses 1. Recognition of concepts. Ron Carroll operates a small company that books enter­tainers for theaters, parties, conventions, and so […]

DQ 1: As you have learned in this week’s readings the Accounting Equation is Assets = Liabilities + Owners’ Equity. Is the accounting equation true in […]

Week One Exercise Assignment Basic Accounting Equations 1. Recognition of normal balances The following items appeared in the accounting records of Triguero’s, a retail music store […]