Accounting: What the Numbers Mean 11th Edition

McGraw-Hill Education, 2017 1-1 McGraw-Hill Education, 2017 1-1 McGraw-Hill Education, 2017 1-1 CHAPTER 1 AccountingPresent and Past CHAPTER OUTLINE: I. What Is Accounting? A. Definition B. Uses of Accounting

1-1 Chapter 01 Accounting-Present and Past Answer Key Multiple Choice Questions 1. A. Social clubs. B. Not-for-profit entities. C. State governments. D. All of the above require accounting information. E. None of the above requires accounting information. AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Reporting

McGraw-Hill Education, 2017 10-1 McGraw-Hill Education, 2017 10-1 McGraw-Hill Education, 2017 10-1 CHAPTER 10 Corporate Governance, Notes to the Financial Statements, and Other Disclosures CHAPTER OUTLINE: I. Corporate Governance A. General

Chapter 10 Corporate Governance, Notes to the Financial Statements, and Other Disclosures Answer Key Multiple Choice Questions 1. A. business ethics and social responsibility. B. the responsibilities of the board of directors. C. equitable treatment of all stakeholders. D. disclosures and transparency. E. all of the

11-1 Chapter 11 Financial Statement Analysis Answer Key Multiple Choice Questions 1. A. Financial leverage. B. Liquidity. C. Profitability. D. Prospectus. AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 11-01 Explain how liquidity

McGraw-Hill Companies, 2017 11-1 McGraw-Hill Companies, 2017 11-1 McGraw-Hill Companies, 2017 11-1 CHAPTER 11 Financial Statement Analysis CHAPTER OUTLINE: I. Interpretation of Financial Condition and Results of Operations A. Liquidity Measures

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 11-19 McGraw-Hill Education, 2017 11-19 McGraw-Hill Education, 2017 11-19 C11.16 (continued) d. expectations formed in part b. As expected, PepsiCo is more leveraged than is Coca Cola, but

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 11-11 McGraw-Hill Education, 2017 11-11 McGraw-Hill Education, 2017 11-11 P11.11. e. By selling inventory for cash, Arch Company will improve its acid-test ratio to 1.7 because a

67. During the months of January through June, the following total utility costs were paid at various production volumes: Month Total Utility Costs Total Production Volume January $10,000 32,000 units February 14,000 52,000 units March 16,000 64,000 units April 12,000 40,000 units May 8,000 24,000 units June

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual 12-31 12-31 12-31 Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual 12-37 Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual 12-11 Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual 12-21 Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior

12-1 Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Copyright 2017 McGraw-Hill Education. All rights reserved. No reproduction or

Chapter 12 Managerial Accounting and Cost-Volume-Profit Relationships Answer Key Multiple Choice Questions 1. A. measuring and reporting financial results after the fact. B. determining the goals and objectives of the entity. C. helping management identify and achieve goals and measure the degree to which the goals

38. Operating income using the contribution margin format income statement is calculated as: A. revenue - variable expenses = contribution margin - fixed expenses. B. revenue - variable expenses = gross profit - fixed expenses. C. revenue - cost of goods sold = contribution margin - fixed

13-34 55. AAA Plumbing Co. incurred the following costs during August: Raw materials $90,000 Direct labor 230,000 Manufacturing overhead 112,000 Selling expenses 70,800 Administrative expenses 45,200 Interest expense 25,000 (a.) Cost of goods manufactured Current period manufacturing costs: Raw materials $90,000 Direct labor 230,000 Manufacturing overhead 112,000

Chapter 13 Cost Accounting and Reporting McGraw-Hill Education, 2017 13-20 McGraw-Hill Education, 2017 13-20 McGraw-Hill Education, 2017 13-20 C13.30. (continued) d. EI 27,000 Solving for the missing amount, raw materials used = $252,000 Raw material purchases and usage will differ by the amount of change in

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 13-11 McGraw-Hill Education, 2017 13-11 McGraw-Hill Education, 2017 13-11 E13.18. a. Total cost for 4,200 toy flutes produced: Raw materials $490.00 Direct labor (21 direct

McGraw-Hill Education, 2017 13-1 McGraw-Hill Education, 2017 13-1 McGraw-Hill Education, 2017 13-1 CHAPTER 13 Cost Accounting and Reporting CHAPTER OUTLINE: I. Cost Management A. Value Chain Functions II. Cost Accumulation

13-1 Chapter 13 Cost Accounting and Reporting Answer Key Multiple Choice Questions 1. A. the price paid for a raw material. B. the wage paid to a worker. C. the price charged by an entity for its services. D. all of the above. AACSB: Analytical Thinking

13-21 AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 13-01 Explain the role of cost accounting as it relates to financial and managerial accounting. Topic: The Role of Cost Accounting 13-21 AACSB: Analytical Thinking AICPA: BB Industry AICPA:

14-1 Chapter 14 Cost Planning Answer Key Multiple Choice Questions 1. A. employee training. B. manufacturing supplies. C. real estate taxes. D. charitable contributions. AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 14-01 Describe

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 14-11 McGraw-Hill Education, 2017 14-11 McGraw-Hill Education, 2017 14-11 E14.16. (continued) Manufacturing overhead: Overhead cost for 12 pads (16 direct labor hours * $16 per

McGraw-Hill Education, 2017 14-1 McGraw-Hill Education, 2017 14-1 McGraw-Hill Education, 2017 14-1 CHAPTER 14 Cost Planning CHAPTER OUTLINE: I. Introduction A. Why Budgets are Useful B. Definition of Performance Reporting

Chapter 14 Cost Planning Chapter 14 Cost Planning Chapter 14 Cost Planning McGraw-Hill Education, 2017 14-20 McGraw-Hill Education, 2017 14-20 McGraw-Hill Education, 2017 14-20 P14.24. (continued) Note: In the total column, the beginning and ending inventory figures represent the number of units on hand at October

14-35 14-35 14-35 (1) Units sold based on sales forecast. (2) Ending inventory = 70% of the next month's forecast. (3) Goods available for sale = units sold (based on sales forecast) + ending inventory. (4) Beginning inventory = ending inventory from the prior month = 70% of the

14-21 AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 14-09 Explain why and how standards are useful in the planning and control process. Topic: Standard Costs 14-21 AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Decision Making Accessibility:

41. A. actual revenue exceeded budgeted revenue. B. budgeted expense exceeded actual expense. C. budgeted variable costs exceeded actual variable costs. D. budgeted revenue exceeded actual revenue. A. actual revenue exceeded budgeted revenue. B. budgeted expense exceeded actual expense. C. budgeted variable costs exceeded actual variable costs.

Chapter 15 Cost Control Answer Key Multiple Choice Questions 1. A. Managerial reporting B. Responsibility reporting C. Financial reporting D. Segment reporting AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 15-01 Explain why all

Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 15-11 McGraw-Hill Education, 2017 15-11 McGraw-Hill Education, 2017 15-11 e. To achieve the greatest increase in contribution margin from an increase in revenues, the product with the greatest contribution margin ratio should be advertised, which is the BV19 model.

Chapter 15 Cost Control Chapter 15 Cost Control Chapter 15 Cost Control McGraw-Hill Education, 2017 15-18 McGraw-Hill Education, 2017 15-18 McGraw-Hill Education, 2017 15-18 C15.28. (continued) b. quantities as frequently and promptly as feasible to facilitate cost control. The raw material price and direct labor rate variances

McGraw-Hill Education, 2017 15-1 McGraw-Hill Education, 2017 15-1 McGraw-Hill Education, 2017 15-1 CHAPTER 15 Cost Control CHAPTER OUTLINE: I. Cost Classifications A. Relationship of Cost to Volume of Activity 1. Variable

53. The standards for one case of Peardrax are: Direct materials 8 lbs. @ $3.50/lb. Direct labor 4 hrs. @ $15.00/hr. Variable overhead (based on machine hours) 2 hrs. @ $5.00/hr. (a.) Raw material purchase price variance: (Std. price - Actual price) * Actual quantity purchased ($3.50/lb. -

16-54 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making Blooms: Apply Difficulty: 2 Medium Difficulty: 3 Hard Learning Objective: 16-07 Illustrate the use of and differences between various capital budgeting techniques: net present value, present value ratio, and internal rate of return. Topic: Capital Budgeting Techniques 16-54

16-21 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making 16-21 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making 16-21 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 16-05 Explain why present

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 16-21 McGraw-Hill Education, 2017 16-21 McGraw-Hill Education, 2017 16-21 P16.31. a. Investment $(280,000) Annual cash flow. $42,000 per year Salvage value $30,000 Investment $(280,000) Annual cash flow. $42,000

Chapter 16 Costs for Decision Making McGraw-Hill Education, 2017 16-30 McGraw-Hill Education, 2017 16-30 McGraw-Hill Education, 2017 16-30 C16.39. which was the most recent annual report available at the time we were preparing the 11th edition of Accounting: What the Numbers Mean. Over the years, Campbell Soup

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 16-11 McGraw-Hill Education, 2017 16-11 McGraw-Hill Education, 2017 16-11 E16.17. Product A Product B Contribution margin per unit.. $ 300 $ 400 Machine hours

McGraw-Hill Education, 2017 16-1 McGraw-Hill Education, 2017 16-1 McGraw-Hill Education, 2017 16-1 CHAPTER 16 Costs for Decision Making CHAPTER OUTLINE: I. Cost Classifications A. Classifications for Other Analytical Purposes 1. Differential

16-1 Chapter 16 Costs for Decision Making Answer Key Multiple Choice Questions 1. A. sunk cost. B. allocated cost. C. differential cost. D. opportunity cost. AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 16-01

16-41 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making Blooms: Analyze Difficulty: 2 Medium Learning Objective: 16-03 Analyze relevant costs for the following decisions: sell or process further, special pricing, target costing, make or buy, continue or discontinue a segment, and product mix. Topic: Relevant Costs 16-41

McGraw-Hill Education, 2017 2-1 McGraw-Hill Education, 2017 2-1 McGraw-Hill Education, 2017 2-1 CHAPTER 2 Financial Statements and Accounting Concepts/Principles CHAPTER OUTLINE: I. Financial Statements A. From Transactions to Financial Statements

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 2-19 McGraw-Hill Education, 2017 2-19 McGraw-Hill Education, 2017 2-19 P2.22. (continued) e. recorded on August 29th. In other words, her stockholders equity was increased by revenues, and

Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 2-11 McGraw-Hill Education, 2017 2-11 McGraw-Hill Education, 2017 2-11 E2.14. SE . A = L + PIC + RE Beginning: ? = $320,000 + $ 30,000 + ? Changes: +65,000 =

2-1 Chapter 02 Financial Statements and Accounting Concepts/Principles Answer Key Multiple Choice Questions 1. A. Investment of cash by the owners. B. Sale of product to customers. C. Receipt of a plaque recognizing the firm's encouragement of employee participation in the United Way fund drive. D.

2-20 AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Measurement Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 2 Medium Learning Objective: 02-07 Identify and explain several limitations of financial statements accounts. Topic: Accounting Concepts and Principles 2-20 AACSB: Analytical Thinking AICPA: BB Industry AICPA: FN Measurement Accessibility: Keyboard Navigation Blooms: Understand

A. it should be assumed that the data result from the consistent application of alternative accounting methods. B. relative values at a point in time may not be significant. C. the trend of entity ratios should be compared to the current year's industry ratio. D. entity ratios should not

Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 3-17 McGraw-Hill Education, 2017 3-17 McGraw-Hill Education, 2017 3-17 C3.23. a. possible to quickly calculate margin, turnover, and ROI. Total current assets or total current liabilities may or may not be disclosed within the trend data, but these

Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 3-11 McGraw-Hill Education, 2017 3-11 McGraw-Hill Education, 2017 3-11 E3.15. b. Current liabilities ..... ........... ........... ........... (100,000) (160,000) Working capital ....... ........... ........... ........... $ 80,000 $ 80,000 Current ratio . ........... ........... ........... 1.8 1.5

McGraw-Hill Education, 2017 3-1 McGraw-Hill Education, 2017 3-1 McGraw-Hill Education, 2017 3-1 CHAPTER 3 Fundamental Interpretations Made From Financial Statement Data CHAPTER OUTLINE: I. Financial Ratios and Trend Analysis A. Company

Chapter 04 The Bookkeeping Process and Transaction Analysis Answer Key Multiple Choice Questions 1. A. Assets + Revenues = Liabilities + Stockholders' Equity - Expenses B. Assets - Liabilities = Paid-in Capital - Revenues - Expenses C. Assets = Liabilities + Paid-in Capital + Beginning Retained

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 4-11 McGraw-Hill Education, 2017 4-11 McGraw-Hill Education, 2017 4-11 E4.6. (continued) Month-end totals: Assets $25,350 = Liabilities $15,800 + Stockholders' Equity $9,550

V. Adjustments A. Accruals B. Reclassifications V. Adjustments A. Accruals B. Reclassifications V. Adjustments A. Accruals B. Reclassifications McGraw-Hill Education, 2017 4-1 McGraw-Hill Education, 2017 4-1 McGraw-Hill Education, 2017 4-1 CHAPTER 4 The Bookkeeping Process and

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 4-31 McGraw-Hill Education, 2017 4-31 McGraw-Hill Education, 2017 4-31 P4.22. (continued) b. Note to Instructor: Students should be able to determine the net loss

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 4-21 McGraw-Hill Education, 2017 4-21 McGraw-Hill Education, 2017 4-21 E4.12. (continued) Journal entries: e. f. g. h. i. j. k. Dr. Cash

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 4-39 McGraw-Hill Education, 2017 4-39 McGraw-Hill Education, 2017 4-39 C4.29. (continued) f. to stockholders. For DeBauge Realty, Inc., the corporation incurred $48,000 of Income

20. The accountant at Abco, Inc. made an adjusting entry at the end of February to accrue interest on a note receivable from a customer. The effect of this entry is to: A. decrease ROI for February. B. increase ROI for February. C. decrease working capital at

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 5-11 McGraw-Hill Education, 2017 5-11 McGraw-Hill Education, 2017 5-11 E5.11. c. decreases both the accounts receivable asset and the allowance account contra-asset for equal amounts. Net income was

McGraw-Hill Education, 2017 5-1 McGraw-Hill Education, 2017 5-1 McGraw-Hill Education, 2017 5-1 CHAPTER 5 Accounting for and Presentation of Current Assets CHAPTER OUTLINE: I. Preliminary topics A. Operating Cycle B. Expansion

Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 5-21 McGraw-Hill Education, 2017 5-21 McGraw-Hill Education, 2017 5-21 P5.27. (continued) b. 1. Working capital would not be affected because the write-off entry decreases both the accounts receivable asset and the allowance account contra-asset by equal amounts.

Chapter 5 Accounting for and Presentation of Current Assets Chapter 5 Accounting for and Presentation of Current Assets Chapter 5 Accounting for and Presentation of Current Assets McGraw-Hill Education, 2017 5-30 McGraw-Hill Education, 2017 5-30 McGraw-Hill Education, 2017 5-30 Pearsons financial statements must instead be

5-1 Chapter 05 Accounting for and Presentation of Current Assets Answer Key Multiple Choice Questions 1. A. assets that are currently used in the operations of the company. B. cash and assets expected to be converted to cash within a year. C. a very small proportion

5-20 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 2 Medium Learning Objective: 05-07 Explain how inventories are reported on the balance sheet. Topic: Inventories 5-20 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms:

McGraw-Hill Education, 2017 6-1 McGraw-Hill Education, 2017 6-1 McGraw-Hill Education, 2017 6-1 CHAPTER 6 Accounting for and Presentation of Property, Plant, and Equipment, and Other Noncurrent Assets CHAPTER OUTLINE: I.

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 6-29 McGraw-Hill Education, 2017 6-29 McGraw-Hill Education, 2017 6-29 C6.35. (continued) c. the entry above would include a debit (decrease) to the Retained Earnings account for those accounts

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 6-11 McGraw-Hill Education, 2017 6-11 McGraw-Hill Education, 2017 6-11 E6.14. (continued) c. out-of-pocket cash cost of using the truck is not affected by the depreciation method used. If

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 6-21 McGraw-Hill Education, 2017 6-21 McGraw-Hill Education, 2017 6-21 P6.27. a. Depreciation expense for 2017 is the increase in the amount of accumulated depreciation from the beginning balance

Chapter 06 Accounting for and Presentation of Property, Plant, and Equipment, and Other Noncurrent Assets Answer Key Multiple Choice Questions 1. A. any of the purchase cost allocated to the old building is reported as a loss. B. the cost assigned to the land excludes the

22. Present Value of $1 Discount Rate Present Value of an Annuity of $1 Discount Rate Periods 8% 10% 8% 10% 5 0.6806 0.6209 3.9927 3.7908 7 0.5835 0.5132 5.2064 4.8684 9 0.5002 0.4241 6.2469 5.7590 A. $3,520 B. $4,668 C. $6,412 D. $7,360 $8,000 PV factor

Chapter 07 Accounting for and Presentation of Liabilities Answer Key Multiple Choice Questions 1. A. payment of accrued wages. B. accrual of interest expense. C. depreciation of equipment. D. accrual of bad debts expense. AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Reporting Accessibility:

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 7-11 McGraw-Hill Education, 2017 7-11 McGraw-Hill Education, 2017 7-11 E7.10. (continued) a. To accrue estimated warranty expense for the year. Dr. Estimated Warranty Liability .................................................... 19,400

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 7-21 McGraw-Hill Education, 2017 7-21 McGraw-Hill Education, 2017 7-21 E7.24. (continued) Liability for Liability for Health Retiree Retiree Care Health Care Health Care Expense

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 7-31 McGraw-Hill Education, 2017 7-31 McGraw-Hill Education, 2017 7-31 P7.32. (continued) b. Dr. Interest Expense ............................................................. 4,840,000 Dr. Premium on Bonds Payable ........................................... 60,000 Cr.

McGraw-Hill Education, 2017 7-1 McGraw-Hill Education, 2017 7-1 McGraw-Hill Education, 2017 7-1 CHAPTER 7 Accounting for and Presentation of Liabilities CHAPTER OUTLINE: I. Current Liabilities A. Short-term debt 1. Used to

35. A. stating liabilities and expenses at appropriate amounts. B. overstating liabilities and expenses. C. understating liabilities and expenses. D. understating liabilities and overstating expenses. A. stating liabilities and expenses at appropriate amounts. B. overstating liabilities and expenses. C. understating liabilities and expenses. D. understating liabilities

8-15 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making Accessibility: Keyboard Navigation Blooms: Remember Difficulty: 1 Easy Learning Objective: 08-07 Show how stockholders equity transactions for the year are reported in the financial statements. Topic: Stockholders Equity Accounts 8-15 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA:

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual The McGraw-Hill Education, 2017 8-21 The McGraw-Hill Education, 2017 8-21 The McGraw-Hill Education, 2017 8-21 C8.34. f. Treasury stock ........... ........... ........... ........... ........... ........... ........... ........... (5,040,000) Total stockholders equity

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual The McGraw-Hill Education, 2017 8-11 The McGraw-Hill Education, 2017 8-11 The McGraw-Hill Education, 2017 8-11 E8.22. a. 700 shares * 3/2 = 1,050 shares after the stock split b.

McGraw-Hill Education, 2017 8-1 McGraw-Hill Education, 2017 8-1 McGraw-Hill Education, 2017 8-1 CHAPTER 8 Accounting for and Presentation of Stockholders Equity CHAPTER OUTLINE: I. Paid-in Capital A. Common Stock 1. Rights

8-1 Chapter 08 Accounting for and Presentation of Stockholders' Equity Answer Key Multiple Choice Questions 1. A. Electing directors. B. Liability limited to amount invested. C. Approving changes in corporate charter. D. Determining dividend policy. AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Decision Making

9-13 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Reporting 9-13 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Reporting 9-13 AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Reporting Essay Questions 25. Net sales for the year were $300,000 and cost of goods sold

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 9-11 McGraw-Hill Education, 2017 9-11 McGraw-Hill Education, 2017 9-11 E9.11. management has done from its ongoing, central, core business. Net income is important, but includes non-recurring items

McGraw-Hill Education, 2017 9-1 McGraw-Hill Education, 2017 9-1 McGraw-Hill Education, 2017 9-1 CHAPTER 9 The Income Statement and the Statement of Cash Flows CHAPTER OUTLINE: I. Income Statement A. Revenues 1.

Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual Instructors Manual / Solutions Manual McGraw-Hill Education, 2017 9-21 McGraw-Hill Education, 2017 9-21 McGraw-Hill Education, 2017 9-21 P9.27. (continued) b. Decrease in inventory ........... ........... ........... ........... ........... ........... ........... 10,000 Increase in note payable .........

9-1 Chapter 09 The Income Statement and the Statement of Cash Flows Answer Key Multiple Choice Questions 1. A. gross sales. B. net sales. C. earned revenues. D. sales, less sales returns and allowances. AACSB: Analytical Thinking AICPA: BB Critical Thinking AICPA: FN Reporting Accessibility: Keyboard