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Student Name:
Class:
Debit Credit
Requirement 2:
2016 2015
525,000$ 399,000$
Problem 20-01
McGraw-Hill/Irwin
Instructor
Requirement 1:
CECIL-BOOKER VENDING COMPANY
Comparative Income Statements
CECIL-BOOKER VENDING COMPANY
General Journal
Account
Income before taxes
120,000$
Given P20-01:
CECIL-BOOKER VENDING COMPANY
Inventories (average cost basis), 12/31/15
Student Name:
Class:
1,600,000$
100,000$
80,000
80,000$
Instructor
Depletion and Depreciation
MARION COMPANY
Problem 20-07
McGraw-Hill/Irwin
Requirement 1:
Cost of mineral mine:
Depletion:
2014
Ore extracted (tons)
Land resale value
Purchase price
Equipment:
Equipment cost
2,200,000$
Correct!
80,000$
Book Value
MARION COMPANY
Cost
Less accumulated depletion:
Requirement 2:
Mineral mine:
Cost
Less accumulated depreciation:
Equipment:
1,600,000$
600,000$
Given Data P20-07:
MARION COMPANY
Land purchase
Additional development costs
Student Name:
Class:
Debit Credit
10
10 «- Correct!
Instructor
($ in millions)
General Journal
WHALEY DISTRIBUTORS
Problem 20-14
McGraw-Hill/Irwin
Requirement 1:
Account
b.
Inventory
Retained earnings
a.
Shareholders' Net
Assets Liabilities Equity Income Expenses
Correct! Correct! Correct! Correct! Correct!
820$ 400$ 420$ 230$ 175$
12 (12)
Financial Statements
WHALEY DISTRIBUTORS
2014 inventory
Requirement 2:
2015
Shareholders' Net
Assets Liabilities Equity Income Expenses
2014 740$ 330$ 410$ 210$ 150$
Given Data P20-14:
WHALEY DISTRIBUTORS
(in millions)
December 31
Financial Statements
