113
E4–14
a.
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
b.
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Inventory = Payable
c.
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Cash + = Payable
114
E4–15
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Retained Statement
E4–16
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Estimated Returns Customer Retained Statement
Inventory = Refunds Payable Earnings
115
E4–17
E4–18
a. LANGE DAUGHTERS INC.
Income Statement
For the Year Ended March 31, 20Y5
116
E4–19
LOMA COMPANY
Income Statement
For the Year Ended April 30, 20Y6
117
E4–20
CARLSBAD COMPANY
Income Statement
For the Year Ended February 28, 20Y8
118
PROBLEMS
P4–1
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Inventory = Payable
*$32,732 = $33,400 – ($33,400 × 2%)
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Cash + Inventory =Payable
119
P4–1, Concluded
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement
Cash = Payable
120
P4–2
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Rec. + Inventory = Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Rec. + Inventory = Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Rec. + Inventory = Earnings
121
P4–2, Continued
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Cash + Rec. = Earnings
Balance Sheet
Statement of Assets = Liabilities + Stockholders’ Equity Income
Cash Flows Accts. Est. Returns Cust. Refunds Retained Statement
Rec. + Inventory + Inventory = Payable + Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Retained Statement
Cash + Rec. = Earnings
122
P4–2, Concluded
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Retained Statement
Cash = Earnings
Balance Sheet
Statement of Assets =Liabilities +Stockholders’ Equity Income
Cash Flows Accts. Statement