(a) Recollect: What financial arrangements did the Colts do as part of their preparations for heading west? (b) Analyze: Do you think they were too naive and trusting? Discuss.

Use the financial data for Randa Merchandising, Inc., in previous exercise to prepare its income statement for calendar year 2015. (Ignore the earnings per share section.)

Which one of the three new service requirements would a dental spa least likely pass: service experience fít, operational fit, or financial impact? Why?

The budgeted statement of cash flows is part of which element of the master budget? a. The financial budget
b. The operating budget
c. The capital expenditures budget d. None of the above

Indicate what impact the following adjustments have on the accounting equation, Assets = Liabilities + Equity (assume normal balances).

A list contains the names of five anthropology students, two sociology students, and three psychology students. If one name is selected at random to assist in the professor’s new study, find the probability that the chosen student is (a) An anthropology student. (b) A psychology student. (c) An anthropology student or a sociology student. (d) Not a psychology student. (e) Not an anthropology student.

Identify the financial statement on which each of the following accounts would appear: the income statement (IS), the retained earnings statement (RE), or the Balance Sheet (BS).

B. Accounts Receivable

It seems that every month we read an article in The Wall Street Journal about a stockpicker with a marvelous track record. Do these examples mean that financial markets are not efficient?

You are a newly hired accountant with Nolasco Company. On your first day, the controller asks you to identify the main internal control objectives related to payroll accounting. How would you respond?

Ocular Realty Co. pays weekly salaries of $16,600 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends (b) on Thursday.

Lewis Enterprises was started when it acquired $4,000 cash from creditors and$6,000 from owners. The company immediately purchased land that cost $9,000.

Required

Record the events under an accounting equation.

Which of the following concepts is not specifically associated with the DSM-5 examination of culture-related disorders? a. cultural syndrome b. cultural idioms of distress c. cultural explanations or perceived cause d. cultural binding

Jones Enterprises was started when it acquired $6,000 cash from creditors and$10,000 from owners. The company immediately purchased land that cost $12,000.

Required

Record the events under an accounting equation.

Garcia Realty Co. pays weekly salaries of $17,250 on Friday for a five-day workweek ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Wednesday.