...ACC 290 Week 1 WileyPLUS – 100% Correct To Buy This material Click below link http://www.uoptutors.com/acc-290-new/acc-290-week-1-wileyplus-new ACC 290 Week 1 WileyPLUS Question 1 Marsh Corporation began operations on January 1, 2014. The following information is available for Marsh Corporation on December 31, 2014. Accounts payable | | $ 7,580 | | Notes payable | | $ 12,160 | Accounts receivable | | 4,580 | | Rent expense | | 12,580 | Advertising expense | | 4,320 | | Retained earnings | | ? | Cash | | 5,680 | | Service revenue | | 30,160 | Common stock | | 17,580 | | Supplies | | 4,480 | Dividends | | 5,080 | | Supplies expense | | 1,380 | Equipment | | 29,380 | | | | | Prepare an income statement for Marsh Corporation. Prepare a retained earnings statement for Marsh Corporation. (List items that increase retained earnings first.) Prepare a balance sheet for Marsh Corporation. (List assets in order of liquidity.) Question 2 The Clear View Golf & Country Club details the following accounts in its financial statements. (a) Classify each of the following accounts as an asset, liability, stockholders’ equity, revenue, or expense item. (b) Classify each of the following accounts as a financing activity, investing activity, or operating activity. Question 3This information relates to Molina Co. for the year 2014. Retained earnings, January 1, 2014 | | $75,703 | Advertising expense | | 2,034 | Dividends | | 6...
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...ACC 290 Week 5 WileyPLUS – 100% Correct To Buy This material Click below link http://www.uoptutors.com/acc-290-new/acc-290-week-5-wileyplus-new Question 1 In its first month of operation, Kuhlman Company purchased 310 units of inventory for $5, then 410 units for $6, and finally 350 units for $7. At the end of the month, 380 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Question 2 Sadowski Video Center accumulates the following cost and market data at December 31. Inventory Categories | | Cost Data | | Market Data | Cameras | | $11,475 | | $12,565 | Camcorders | | 8,599 | | 9,289 | DVDs | | 11,359 | | 10,039 | Compute the lower-of-cost-or-market valuation for Sadowski inventory. The lower-of-cost-or-market value | | $ | Question 3 The financial statements of Tootsie Roll are presented below. Answer the following questions. (Give the amounts in thousands of dollars, as shown in Tootsie Roll’s annual report.) What did Tootsie Roll report for the amount of inventories in its Consolidated Balance Sheet at December 31, 2011? At December 31, 2010? (Round amounts to thousands.) Compute the dollar amount of change and the percentage change in inventories between 2010 and 2011. (Round percentages to 1 decimal place, e.g. 15.4% and other answer to thousands.) Compute inventory as a percentage of current assets for 2011.(Round answer to 1 decimal place, e.g. 15.4%.) What are the (product)...
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...ACC 290 Week 4 WileyPLUS – 100% Correct To Buy This material Click below link http://www.uoptutors.com/acc-290-new/acc-290-week-4-wileyplus-new Question 1 Mike Greenberg opened Clean Window Washing Inc. on July 1, 2014. During July, the following transactions were completed. July 1 Issued 12,023 shares of common stock for $12,023 cash. 1 Purchased used truck for $8,023, paying $2,050 cash and the balance on account. 3 Purchased cleaning supplies for $917 on account. 5 Paid $2,280 cash on a 1-year insurance policy effective July 1. 12 Billed customers $4,890 for cleaning services. 18 Paid $1,037 cash on amount owed on truck and $506 on amount owed on cleaning supplies. 20 Paid $2,070 cash for employee salaries. 21 Collected $1,753 cash from customers billed on July 12. 25 Billed customers $2,620 for cleaning services. 31 Paid $370 for maintenance of the truck during month. 31 Declared and paid $616 cash dividend. Journalize the July transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.) Prepare a trial balance at July 31. Journalize the following adjustments. (Credit account titles are automatically indented when the amount is entered. Do not indent...
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...ACC 290 Week 3 WileyPLUS – 100% Correct To Buy This material Click below link http://www.uoptutors.com/acc-290-new/acc-290-week-3-wileyplus-new Question 1 Ken Lumas started his own consulting firm, Lumas Consulting, on June 1, 2014. The trial balance at June 30 is as follows. LUMAS CONSULTING Trial Balance June 30, 2014 | | | Debit | | Credit | Cash | | $ 6,850 | | | Accounts Receivable | | 7,000 | | | Supplies | | 2,044 | | | Prepaid Insurance | | 3,480 | | | Equipment | | 15,000 | | | Accounts Payable | | | | $ 4,280 | Unearned Service Revenue | | | | 5,200 | Common Stock | | | | 22,134 | Service Revenue | | | | 8,000 | Salaries and Wages Expense | | 4,000 | | | Rent Expense | | 1,240 | | | | | $39,614 | | $39,614 | In addition to those accounts listed on the trial balance, the chart of accounts for Lumas also contains the following accounts: Accumulated Depreciation—Equipment, Salaries and Wages Payable, Depreciation Expense, Insurance Expense, Utilities Expense, and Supplies Expense. Other data: 1. | | Supplies on hand at June 30 total $850. | 2. | | A utility bill for $181 has not been recorded and will not be paid until next month. | 3. | | The insurance policy is for a year. | 4. | | Services were performed for $4,370 of unearned service revenue by the end of the month. | 5. | | Salaries of $1,338 are accrued at June 30. | 6. | | The equipment has a 5-year life with no salvage...
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