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TEST BANK for Financial Accounting 11th Edition by Robert Libby, Patricia Libby, Frank Hodge All Chapters 1to13 ISBN-978-1119594598 $21.99
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TEST BANK for Financial Accounting 11th Edition by Robert Libby, Patricia Libby, Frank Hodge All Chapters 1to13 ISBN-978-1119594598
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TEST BANK for Financial Accounting 11th Edition by Robert Libby, Patricia Libby, Frank Hodge All Chapters 1to13 ISBN-978-1119594598TEST BANK for Financial Accounting 11th Edition by Robert Libby, Patricia Libby, Frank Hodge All Chapters 1to13 ISBN-978-1119594598TEST BANK for Financial Accounting 11...

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  • November 1, 2024
  • 2190
  • 2024/2025
  • Exam (elaborations)
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  • 978 1119594598
  • 11th edition
  • test bank for financial accounting 11th edition
  • test bank for financial accounting
  • test bank
  • financial accounting 11th edition

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TEST BANK
Financial Accounting 11th Edition
by Robert Libby, Patricia Libby, Frank Hodge,
All Chapters 1-13

, TABLE OF CONTENTS g g




CHAPTER 1: Financial Statements and Business Decisions
g g g g g g



Focus Company: Le-Nature’s Inc.
g g g



CHAPTER 2: Investing and Financing Decisions and the Accounting System
g g g g g g g g g



Focus Company: Chipotle Mexican Grill
g g g g



CHAPTER 3: Operating Decisions and the Accounting System
g g g g g g g



Focus Company: Chipotle Mexican Grill
g g g g



CHAPTER 4: Adjustments, Financial Statements, and the Closing Process
g g g g g g g g



Focus Company: Chipotle Mexican Grill
g g g g



CHAPTER 5: Communicating and Analyzing Accounting Information
g g g g g g



Focus Company: Apple Inc.
g g g



CHAPTER 6: Reporting and Interpreting Sales Revenue, Receivables, and Cash
g g g g g g g g g



Focus Company: Skechers U.S.A.
g g g



CHAPTER 7: Reporting and Interpreting Cost of Goods Sold and Inventory
g g g g g g g g g g



Focus Company: Harley-Davidson, Inc.
g g g



CHAPTER 8: Reporting and Interpreting Property, Plant, and Equipment; Intangibles; and Natural
g g g g g g g g g g g g



Resources
Focus Company: FedEx Corporation
g g g



CHAPTER 9: Reporting and Interpreting Liabilities
g g g g g



Focus Company: Starbucks
g g



CHAPTER 10: Reporting and Interpreting Bond Securities
g g g g g g



Focus Company: Amazon
g g



CHAPTER 11: Reporting and Interpreting Stockholders’ Equity
g g g g g g



Focus Company: Microsoft
g g



CHAPTER 12: Statement of Cash Flows
g g g g g



Focus Company: National Beverage Corporation
g g g g



CHAPTER 13: Analyzing Financial Statements
g g g g



Focus Company: The Home Depot
g g g g

, CHAPTER 1: Financial Statements and Business Decisions
g g g g g g

Focus Company: Le-Nature’s Inc.
g g g




Answers are at the end of each Chapter
g g g g g g g




Chapter 1 g




Student name:
g




1) Determinegthegmissinggamountsgforgeachgindependentgcasegbelow.gAssumegthegamountsgs
howngaregatgthegendgofgthegcompany'sgfirstgyeargofgoperation.
CompanygN TotalgRev TotalgA TotalgExp TotalgLiabiliti NetgIncomeg(L Stockholdersg'gEq
ame enue ssets enses e oss) uity
s
Randolph $g $g $g $g
600,00 450,00 350,00 130,000
0 0 0
Newman $g $g $g $g75,000
105,00 80,000 10,000
0
Wiseman $g $g $(30,000 $g100,000
190,00 70,000 )
0
Martin $g $g $g $g
180,00 215,00 115,00 75,000
0 0 0
VanTasse $ $ $ $g79,000
l 55,000 75,000 19,000

, QuestiongDetails
AACSBg:gKnowledgegApplication
gAICPAg:gBBgCriticalgThinkinggA

ICPAg:gFNgMeasurementgBloom's
g:gApply

Difficultyg:g2gMedium
LearninggObjectiveg:g01-
01gRecognizegtheginformation gconveyedgingeachgofgthegfourgbasicgfinancialgstagTopicg:gDistinguish gdiffer
entgfinancialgstatements
Typeg:gStatic
Accessibilityg:gKeyboardgNavigationgAccessibi
lityg:gScreengReadergCompatiblegGradableg:gma
nual




2) Frank’sgFlowergCompany,gagsmallgretailgstoregthatgsellsgflowers,gstartedgbusinessgongJ
anuaryg1,g2022.gAtgthegendgofgJanuaryg2022,gthegfollowingginformationgwasgavailable:
Salesgofgflowersgforgcash $g150,000
Salesgofgflowersgforgcreditg(notgyetgcollected) 30,000
CostgofgflowersgwhichgweregsoldgandgpaidgforgduringgJanuary 90,000
ExpensesgduringgJanuarygincurred,gandgpaidgfor,gduringgJanuarygunlessgotherwisegnoted:
Salaries $g10,000
Telephone 500
Officegsuppliesg(allgused) 300
Electricity 600
RentgongthegstoregforgJanuary,g2022g(willgnotgbegpaidguntil 2,000
February,g2022)
Required:A.Usinggthegaboveginformation,gpreparegthegincomegstatementgforgFrank’sgFlowergCom
panygforgthegmonthgendedgJanuaryg31,g2022.
B.Whatgisgthegamountgofgcashgflowsgprovidedgbygoperatinggactivitiesgtogbegpresentedgongthegstateme
ntgofgcashgflows?

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