Questions from Intermediate Accounting


Q: The accounting records of EZ Company provided the data below. Prepare

The accounting records of EZ Company provided the data below. Prepare a reconciliation of net income to net cash flows from operating activities. Net income …………………………………………………. $50,000 Depreciation e...

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Q: Below are three independent and unrelated errors. a. On

Below are three independent and unrelated errors. a. On December 31, 2017, Wolfe-Bache Corporation failed to accrue office supplies expense of $1,800. In January 2018, when it received the bill from i...

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Q: The statement of retained earnings of Gary Larson Publishers is presented below

The statement of retained earnings of Gary Larson Publishers is presented below. GARY LARSON PUBLISHERS Statement of Retained Earnings For the Year Ended December 31, 2018 ($ in millions) Retained ear...

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Q: For each of the following inventory errors occurring in 2018, determine

For each of the following inventory errors occurring in 2018, determine the effect of the error on 2018’s cost of goods sold, net income, and retained earnings. Assume that the error...

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Q: As part of its stock-based compensation package, on January

As part of its stock-based compensation package, on January 1, 2018, International Electronics granted restricted stock units (RSUs) representing 50 million $1 par common shares. At exercise, holders...

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