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ACCT 231 ACCT231 ACCT/231 Wk14Hmwk.docx – Katja Iversen Week 14 Homework

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ACCT 231 ACCT231 ACCT/231 Wk14Hmwk.docx – Katja Iversen Week 14 Homework

Katja Iversen

Week 14 Homework

E24-2

1. Adjust the financial statements

2. Neither adjust nor disclose

3. Disclose in notes to the financial statements

4. Disclose in notes to the financial statements

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ACCT 231 ACCT231 ACCT/231

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ACCT 231 ACCT231 ACCT/231 Wk14Hmwk.docx - Katja Iversen Week 14 Homework, Champlain College

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ACCT 231 ACCT231 ACCT/231 Wk14Hmwk.docx – Katja Iversen Week 14 Homework

Katja Iversen

Week 14 Homework

E24-2

1. Adjust the financial statements

2. Neither adjust nor disclose

3. Disclose in notes to the financial statements

4. Disclose in notes to the financial statements

5. Neither adjust nor disclose

6. Neither adjust nor disclose

7. Neither adjust nor disclose

8. Disclose in notes to the financial statements

9. Adjust the financial statements

10. Neither adjust nor disclose

11. Adjust the financial statements

12. Disclose in notes to the financial statements

E24-5

a.The difference between the acid-test ratio and the current ratio is the inventory. That means that any difference between the two would be because of the inven-tory.

b.The financial leverage has decreased. If we look at the long-term debt to assets ratio and the debt to assets ratio, we can see that both have decreased which would mean that the financial leverage has also decreased.

c.Based on the fixed assets turnover and sales as a percent of 2015 sales, we can see that the net investments in plant and equipment has decreased.

P24-1

Current Assets Beginning Balance Adj. No.Adjustments Adj. Bal-ance

Cash 571,000 496,000

Investments in Land 185,000

ACCT 231 ACCT231 ACCT/231 Wk14Hmwk.docx – Katja Iversen Week 14 Homework

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ACCT 231 – Spring 2019 Register Now Acct 231 Chapter 20 Homework.docx Back to Department Related Courses ACCT 230 – Intermediate Accounting (108 Documents)ACCT 311 – (37 Documents)ACCT 350 – (31 Documents)ACCT 140-45 – FINANCIAL ACCOUNTING (25 Documents)

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