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TEST BANK Financial Accounting 11th Edition Libby, Libby, Hodge

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  • Financial Accounting 11th Edition Robert
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  • Financial Accounting 11th Edition Robert

Test Bank for Financial Accounting 11th Edition Robert Libby, Patricia Libby, Frank Hodge Test Bank for Financial Accounting 11th Edition Robert Libby, Patricia Libby, Frank Hodge Test Bank for Financial Accounting 11th Edition Robert Libby, Patricia Libby, Frank Hodge Test Bank for Financial Accou...

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  • November 2, 2024
  • 2122
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • financial accounting
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  • Financial Accounting 11th Edition Robert
  • Financial Accounting 11th Edition Robert
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, TABLE OF CONTENTS
i i




CHAPTERi1:iFinancialiStatementsiandiBusinessiDecisions
FocusiCompany:iLe-Nature’siInc.
CHAPTERi2:iInvestingiandiFinancingiDecisionsianditheiAccountingiSystem
FocusiCompany:iChipotleiMexicaniGrill
CHAPTERi3:iOperatingiDecisionsianditheiAccountingiSystem
FocusiCompany:iChipotleiMexicaniGrill
CHAPTERi4:iAdjustments,iFinancialiStatements,ianditheiClosingiProcess
FocusiCompany:iChipotleiMexicaniGrill
CHAPTERi5:iCommunicatingiandiAnalyzingiAccountingiInformation
FocusiCompany:iAppleiInc.
CHAPTERi6:iReportingiandiInterpretingiSalesiRevenue,iReceivables,iandiCash
FocusiCompany:iSkechersiU.S.A.
CHAPTERi7:iReportingiandiInterpretingiCostiofiGoodsiSoldiandiInventory
FocusiCompany:iHarley-Davidson,iInc.
CHAPTERi8:iReportingiandiInterpretingiProperty,iPlant,iandiEquipment;iIntangibles;iandiNatur
aliResources
FocusiCompany:iFedExiCorporation
CHAPTERi9:iReportingiandiInterpretingiLiabilities
FocusiCompany:iStarbucks
CHAPTERi10:iReportingiandiInterpretingiBondiSecurities
FocusiCompany:iAmazon
CHAPTERi11:iReportingiandiInterpretingiStockholders’iEquity
FocusiCompany:iMicrosoft
CHAPTERi12:iStatementiofiCashiFlows
FocusiCompany:iNationaliBeverageiCorporation
CHAPTERi13:iAnalyzingiFinancialiStatements
FocusiCompany:iTheiHomeiDepot

, CHAPTERi1:iFinancialiStatementsiandiBusinessiDecisions
FocusiCompany:iLe-Nature’siInc.
AnswersiareiatitheiendiofieachiChapter
Chapteri1
Studentiname:
1) Determineitheimissingiamountsiforieachiindependenticaseibelow.iAssumeitheiamountsishow
niareiatitheiendiofitheicompany'sifirstiyeariofioperation.
CompanyiN TotaliRev TotaliA TotaliExp TotaliLiabiliti NetiIncomei(L Stockholdersi'iEq
ame enue ssets enses e oss) uity
s
Randolph $i $i $i $i
600,00 450,00 350,00 130,000
0 0 0
Newman $i $i $i $i75,000
105,00 80,000 10,000
0
Wiseman $i $i $(30,000 $i100,000
190,00 70,000 )
0
Martin $i $i $i $i
180,00 215,00 115,00 75,000
0 0 0
VanTasse $ $ $ $i79,000
l 55,000 75,000 19,000

, QuestioniDetails
AACSBi:iKnowledgeiApplicationiAI
CPAi:iBBiCriticaliThinkingiAICPAi:i
FNiMeasurementiBloom'si:iApply
Difficultyi:i2iMedium
LearningiObjectivei:i01-
01iRecognizeitheiinformationiconveyediinieachiofitheifouribasicifinancialistaiTopici:iDistinguishidifferentifinan
cialistatements
Typei:iStatic
Accessibilityi:iKeyboardiNavigationiAccessibilityi:i
ScreeniReaderiCompatibleiGradablei:imanual




2) Frank’siFloweriCompany,iaismalliretailistoreithatisellsiflowers,istartedibusinessioniJanuaryi
1,i2022.iAtitheiendiofiJanuaryi2022,itheifollowingiinformationiwasiavailable:
Salesiofiflowersiforicash $i150,000
Salesiofiflowersiforicrediti(notiyeticollected) 30,000
CostiofiflowersiwhichiwereisoldiandipaidiforiduringiJanuary 90,000
ExpensesiduringiJanuaryiincurred,iandipaidifor,iduringiJanuaryiunlessiotherwiseinoted:
Salaries $i10,000
Telephone 500
Officeisuppliesi(alliused) 300
Electricity 600
RentionitheistoreiforiJanuary,i2022i(willinotibeipaidiuntil 2,000
February,i2022)
Required:A.Usingitheiaboveiinformation,iprepareitheiincomeistatementiforiFrank’siFloweriCompanyif
oritheimonthiendediJanuaryi31,i2022.
B.Whatiisitheiamountioficashiflowsiprovidedibyioperatingiactivitiesitoibeipresentedionitheistatementiofic
ashiflows?

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