Accounting Principles 12th Edition

ISBN 13
978-1118875056
ISBN 10
1118875052
Authors
Donald E. Kieso, Jerry J. Weygandt, Paul D. Kimmel
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Quiz Practice
683774
Accounting Chapter 1 Homework Utilities Expense Total Expenses Net Income
EXERCISE 1-13 CHENG COMPANY Balance Sheet December 31, 2017 Assets Cash ............................................................................................... Accounts receivable ..................................................................... Supplies ......................................................................................... Equipment...................................................................................... Total assets ............................................................................ $15,000 6,500 8,000 46,000 $75,500 Liabilities and Owner’s Equity Liabilities Accounts payable .................................................................. Owner’s equity Owner’s capital ($67,500 – $13,000) ..................................... Total liabilities and owner’s equity ............................... $21,000 54,500 $75,500 EXERCISE 1-14 (a) Camping fee revenues .......................................................... General store revenues ......................................................... Total revenue .................................................................. Expenses ................................................................................ Net income ............................................................................. (b) $140,000 65,000 205,000 150,000 $ 55,000 CLEAR VIEW PARK Balance Sheet December 31, 2017 Assets Cash........................................................................................ Accounts Receivable ............................................................. Equipment .............................................................................. Total
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1335 Words9 Pages
684133
Accounting Chapter 12 Homework Total Division Of Net Income
Weygandt, Accounting Principles, 12e Chapter Twelve Solutions to Challenge Exercises Challenge Exercise 12-1 – Solution (a) Cash ................................................................................................. Decker, Capital ........................................................................ 60,000 Land ................................................................................................. Buildings ........................................................................................... Rosen, Capital ......................................................................... 20,000 85,000 Cash ................................................................................................. Accounts Receivable ....................................................................... Equipment......................................................................................... Allowance for Doubtful Accounts.......................................... Toso, Capital ........................................................................... 10,000 32,000 35,000 60,000 105,000 2,000 75,000 (b) THE DRT PARTNERSHIP Balance Sheet December 31, 2017 Assets Current Assets Cash ................................................................................ Accounts Receivable ..................................................... $ 32,000 Less: Allowance for Doubtful Accounts........................... 2,000 Total current assets ................................................. Property, Plant and Equipment Land ................................................................................ Buildings ....................................................................... Equipment....................................................................... Total
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246 Words3 Pages
684117
Accounting Chapter 12 Homework Sale Of Noncash Assets And allocation Of Loss
CHAPTER 12 SOLUTIONS TO PROBLEMS: SET B PROBLEM 12-1B (a) Jan. 1 1 (b) Jan. 1 1 Cash ............................................................ Accounts Receivable ................................. Inventory ..................................................... Equipment ................................................... Allowance for Doubtful Accounts ......................................... Notes Payable ..................................... Accounts Payable ............................... Utech, Capital ...................................... 10,000 18,000 38,000 35,000 Cash ............................................................ Accounts Receivable ................................. Inventory ..................................................... Equipment ................................................... Allowance for Doubtful Accounts ......................................... Accounts Payable ............................... Flott, Capital ........................................ 8,000 30,000 25,000 18,000 Cash ............................................................ Utech, Capital ...................................... 3,500 Cash ............................................................ Flott, Capital ........................................ 16,000 2,500 20,000 30,000 48,500 4,000 40,000 37,000 3,500 16,000 12-1 Copyright © 2015 John Wiley & Sons,
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742 Words9 Pages
683799
Accounting Chapter 2 Homework Prepaid Insurance Ref Debits Credits 500 Supplies
CC2 (a) Nov. COOKIE CREATIONS GENERAL JOURNAL Account Titles and Explanation Debit J1 Credit 8 No entry required for cashing U.S. Savings Bonds—this is a personal transaction. 8 Cash ......................................................... Owner’s Capital .................................. 500 11 Advertising Expense ............................... Cash..................................................... 65 13 Supplies ................................................... Cash..................................................... 125 14 Equipment ............................................... Owner’s Capital .................................. 300 16 Cash ......................................................... Notes Payable ..................................... 2,000 17 Equipment ............................................... Cash..................................................... 900 20 Cash ......................................................... Service Revenue ................................. 125 25 Cash ......................................................... Unearned Service Revenue................ 30 30 Prepaid Insurance ................................... Cash..................................................... 1,320 500 65 125 300 2,000 900 125 30 1,320 CC2 (Continued) (b) Date Nov. Explanation 8 11 13 16 17 20 25 30 Date J1 J1 J1 J1 J1 J1 J1 J1 Explanation Nov. 13 Date Explanation Explanation Nov. 14 17 Date Nov. 25 J1 J1 Explanation Credits Balance 900 125 30 125 125 Credits 1,320 Balance 1,320 Credits 300 900 Unearned
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212 Words4 Pages
683850
Accounting Chapter 3 Homework Income Statement For The Month Ended July
Weygandt Accounting Principles, 12e Chapter Three Solutions to Challenge Exercises Challenge Exercise 3-1 – Solution A 1. 2. 3. 4. 5. 6. 7. Interest Expense ............................................................................ Interest Payable ..................................................................... ($20,000 X 12% X 5/12) 1,000 Supplies Expense ........................................................................... Supplies ................................................................................. ($3,500 – $900) 2,600 Depreciation Expense .................................................................... Accumulated Depreciation—Equipment ................................. 2,000 Insurance Expense ......................................................................... Prepaid Insurance.................................................................. ($2,700 X 8/12) 1,800 Unearned Service Revenue............................................................ Service Revenue ................................................................... ($50,000 X 2/5) 20,000 Accounts Receivable ...................................................................... Service Revenue ................................................................... 6,300 Salaries and Wages Expense ......................................................... Salaries and Wages
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196 Words2 Pages
683924
Accounting Chapter 5 Homework For Example Sales Commissions Were 3 The
COMPREHENSIVE PROBLEM SOLUTION (a) Dec. 6 8 10 13 15 18 20 23 27 5-58 Salaries and Wages Payable ....................... Salaries and Wages Expense ...................... Cash ...................................................... 1,000 600 Cash .............................................................. Accounts Receivable............................ 2,200 Cash .............................................................. Sales Revenue ...................................... 6,300 Cost of Goods Sold ...................................... Inventory ............................................... 4,100 Inventory ....................................................... Accounts Payable ................................ 9,000 Supplies ........................................................ Cash ...................................................... 2,000 1,600 2,200 6,300 4,100 9,000 2,000 Accounts Receivable ................................ 15,000 Sales Revenue ...................................... 15,000 Cost of Goods Sold ...................................... 10,000 Inventory ............................................... 10,000 Salaries and Wages Expense ...................... Cash ...................................................... 1,800 Accounts Payable ........................................ Cash ...................................................... Inventory ($9,000 X .02) ........................ 9,000 1,800 8,820 180 Cash
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2337 Words12 Pages
683936
Accounting Chapter 5 Homework Instructor Use Only 525 Problem 54c Continued
PROBLEM 5-2C (Continued) (b) Cash Date May 1 9 10 11 12 15 19 24 27 29 Explanation Balance Accounts Receivable Date Explanation May 2 9 31 Ref. Debit J1 J1 J1 J1 J1 J1 J1 J1 J1 4,455 Ref. J1 J1 J1 Credit 8,232 900 2,700 230 250 6,200 2,940 100 Debit 4,500 Credit 4,500 2,600 Inventory Date May No. 101 Balance 10,000 14,455 6,223 5,323 2,623 2,853 2,603 8,803 5,863 5,763 No. 112 Balance 4,500 0 2,600 No. 120 Explanation 1 2 5 10 12 15 17 19 24 25 27 29 31 Copyright © 2015 John Wiley & Sons, Inc. Ref. J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 J1 Debit 9,000 Credit 3,100 600 168 2,700 230 3,000 250 4,600 1,000 60 20 1,820 Weygandt, Accounting Principles, 12/e, Exercise B/Problem Set C Balance 9,000 5,900 5,300 5,132 7,832 7,602 10,602 10,852 6,252 7,252 7,192 7,212 5,392 (For Instructor Use Only) 5-18 PROBLEM 5-2C (Continued) Supplies Date Explanation May 11 Ref. J1 Debit 900 Credit Accounts Payable Date May No. 201 Explanation Ref. J1 J1 J1 J1 J1 J1 1 5 10 17 25 27 Debit Credit 9,000 600 8,400 3,000 1,000 3,000 Owner’s Capital Date May Ref. Sales Revenue Date Explanation May 2 24 31 Ref. J1 J1 J1 Sales Returns and Allowances Date Explanation May 29 Copyright © 2015 John Wiley & Sons, Inc. Balance 9,000 8,400 0 3,000 4,000 1,000 No. 301 Explanation 1 Balance Sales Discounts Date Explanation May 9 No. 126 Balance 900 Ref. J1 Ref. J1 Debit Debit Debit 100 Debit 45 Credit Credit 4,500 6,200 2,600 Balance 10,000 No. 401 Balance 4,500 10,700 13,300 Credit No. 412 Balance 100 Credit No.
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1418 Words10 Pages
683907
Accounting Chapter 5 Homework Solutions For Instructor Use Only 511 Problem
CHAPTER 5 SOLUTIONS TO PROBLEMS: SET B PROBLEM 5-1B (a) July 1 3 9 12 17 18 20 21 Inventory ....................................................... Accounts Payable ................................. 1,800 Accounts Receivable ................................... Sales Revenue ...................................... 2,000 Cost of Goods Sold ...................................... Inventory................................................ 1,200 Accounts Payable......................................... Inventory ($1,800 X .02) ..................................... Cash ....................................................... 1,800 Cash .............................................................. Sales Discounts ............................................ Accounts Receivable ............................ 1,980 20 Accounts Receivable ................................... Sales Revenue ...................................... 1,800 Cost of Goods Sold ...................................... Inventory................................................ 1,080 Inventory ....................................................... Accounts Payable ................................. 1,900 Inventory ....................................................... Cash ....................................................... 125 Accounts Payable......................................... Inventory................................................ 300 Cash .............................................................. Sales Discounts ............................................ Accounts Receivable ............................ 1,782 18 1,800 2,000 1,200 36 1,764 2,000 1,800 1,080 1,900 125 300 1,800 Copyright ©
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1638 Words14 Pages
684024
Accounting Chapter 8 Homework Solutions For Instructor Use Only Page 81
Weygandt, Accounting Principles, 12e Chapter Eight Solutions to Challenge Exercises Challenge Exercise 8-1 – Solution a) May June July July 1 1 1 10 Petty Cash ........................................................................... Cash........................................................................ 150.00 Delivery Expense ................................................................. Postage Expense................................................................. Miscellaneous Expense ....................................................... Cash Over and Short ........................................................... Cash .......................................................................... 31.25 39.00 62.00 13.00 Delivery Expense ................................................................. Entertainment Expense........................................................ Miscellaneous Expense ....................................................... Cash .......................................................................... 31.00 71.00 44.75 Petty Cash ........................................................................... Cash .......................................................................... 50.00 150.00 145.25 146.75 50.00 (b) The activities in a petty cash system and the related principles are: (1) Establishing the fund. * Establishment of
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217 Words2 Pages

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