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comparative balance sheet of Rodenbeck Company

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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
$ 527,740
$ 388,030
Inventory
$ 848,020
$ 604,280
Total assets
$ 2,881,300
$2,487,900



Question 2
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Catlet Co. uses a periodic inventory system. Its records show the following for the month of May in which 65 units were sold.
Date
Explanation
Units
Unit Cost
Total Cost
May 1
Inventory
30
$8.82
$264.60
May 15
Purchases
25
11.82
295.50
May 24
Purchases
35
12.82
448.70
Totals
90
$1,008.80
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

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The following information pertains to Family Video Company.
1.     Cash balance per bank, July 31, $9,086.01.
2.     July bank service charge not recorded by the depositor $35.03.
3.     Cash balance per books, July 31, $9,112.28.
4.     Deposits in transit, July 31, $1,876.50.
5.     Bank collected $1,125.90 note for Family in July, plus interest $45.04, less fee $25.02. The collection has not been recorded by Family, and no interest has been accrued.
6.     Outstanding checks, July 31, $739.34.
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