I’ve uploaded my 3 questons please answer quickly I have 110 min left.

I’ve uploaded my 3 questons please answer quickly I have 110 min left.

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Question 1
Using the following data from the comparative balance sheet of Rodenbeck Company, illustrate
vertical analysis.
(Round percentages to 1 decimal place, e.g. 10.5.)
December 31, 2011
December 31, 2010
Accounts receivable
$ 517,740
$ 385,440
Inventory
$ 849,120
$ 605,130
Total assets
$ 3,002,700
$2,485,200
Vertical Analysis
Dec. 31, 2011
Dec. 31, 2010
Amount
Percentage
Amount
Percentage
Accounts receivable
$
%
$
%
Inventory
$
%
$
%
Total assets
$
%
$
%
Question 2
Catlet Co. uses a periodic inventory system. Its records show the following for the month of May
in which 65 units were sold.
Date
Explanat
ion
Units
Unit
Cos
t
Total
Cost
May 1
Inventory
30
$14.09 $422.70
May 15
Purchases
25
17.09
427.25
May 24
Purchases
35
18.09
633.15
Totals
90
$1,483.1
0
Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO
methods.
(Round answers to 2 decimal places, e.g. 10.50.)
FIFO
LIFO
Ending Inventory
$
$
Cost of goods sold
$
$
Question 3
The following information pertains to Family Video Company.
1.
Cash balance per bank, July 31, $7,698.78.
2.
July bank service charge not recorded by the depositor $29.68.
3.
Cash balance per books, July 31, $7,721.04.
4.
Deposits in transit, July 31, $1,590.00.
5.
Bank collected $954.00 note for Family in July, plus interest $38.16, less fee $21.20.
The collection has not been recorded by Family, and no interest has been accrued.
6.
Outstanding checks, July 31, $626.46.
7.
Prepare a bank reconciliation at July 31.

Unlock Solution Unlocking…

Journalize the adjusting entries at July 31 on the books of Famil
multiple debit/credit entries, list amounts from largest to small
answers to 2 decimal places, e.g. 10.50.)
Date
Description/Account
July 31
(To record collection of note receivable by
bank)
July 31
(To record bank service charge.)

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