
1.
Identify the amount of prepaid expenses and other current assets account at the end of the most recent year and to find the source of information.
2.
Identify the amount of deferred rent and other liabilities at January 31, 2012 in Company U’s report and to find the source of information.
3.
Identify the difference between prepaid rent and deferred rent.
4.
Describe the general terms of accrued liabilities.
5.
Identify the factors that would generate the interest income which is reported on the income statement.
6.
Identify the accounts which would not have balances on a post-closing
7.
Prepare Closing entry for prepaid expenses.
8.
Identify the Company U’s earnings per share for the three years reported.
9.
Compute the total asset turnover ratio for the three years reported and to suggest about the Company U.

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Chapter 4 Solutions
Financial Accounting, 8th Edition
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