Archives: Solution Manual
Accounting Homework Although forms are provided for both the Mastery Problem and Challenge Problem at the end of each chapter, it is recommended that only one of these problems be assigned
11e Accounting General Journal Working Papers Chapters 1–24 Teacher’s Edition Century 21 Claudia Bienias Gilbertson, CPA Retired North Hennepin Community College Brooklyn Park, Minnesota Mark W. Lehman, CPA, CFE 23148_fm_hr_i-iv.indd 1 1/18/18 4:41 AM Associate Professor Emeritus Richard C. Adkerson […]
Accounting Chapter 11 Homework Sales and expense projections are not fantasy figures. They are supposed to be management’s best estimate of what will actually happen
CHAPTER 11 Performance Evaluation and Decentralization E 11-35 1. The maximum transfer price, set by the Motel Division, is $40. 3. Benefit to Furniture Division: Revenue ($35 × 10,000) $350,000 Less: Variable cost ($14 × 10,000) 140,000 Benefit $210,000 Benefit […]
Accounting Math Worksheet Homework Analyzing a Balance Sheet Using Vertical Analysis Analyzing an Income Statement Using Horizontal Analysis
SOLUTIONS TO MATH WORK SHEETS CHAPTER 4 Calculating New Account Balances Cash: $5,100.00 DR, $3,345.00 DR CHAPTER 5 PART A Calculating New Balances on a Check Stub Check No. 151: Check No. 152: Bal. Bro’t For’d ………… -0- Bal. Bro’t […]
Accounting Chapter 11 Homework Java Division Would Delighted with That Price But Machina Division Would Refuse Transfer
5. ROI (1) encourages managers to pay attention to the relationships among sales, expenses, and investment; (2) encourages cost efficiency; and (3) discourages excessive investment in operating assets. Increased profitability can be achieved (all else being equal) by increasing revenues, […]
Accounting Calculator Drill Decide which accounts in the accounting equation are changed by each of the following transactions
SOLUTIONS TO CALCULATOR DRILLS PART (1) 54,644.42 54,577.43 35,930.24 55,852.20 55,549.77 (2) 60,336.03 67,023.06 40,210.10 48,652.87 52,840.54 (3) 1,111.11 2,219.88 3,332.97 3,737.01 3,333.00 (4) 6,326.70 2,973.00 3,266.43 2,844.44 6,559.05 (5) 2,076.802 3,367.1275 32,730.4117 708.6277 14,642.955 (6) 17,121.5044 6,386.8779 6,635.7576 141.5075 […]
Accounting Chapter 10 Homework A standard costing system helps in budgeting since the unit standard costs can be multiplied by the predicted level of production to obtain total costs
CHAPTER 10: Standard Costing and Variance Analysis P 10-68 (Concluded) 8.0 LRV: -8.0 0.0 0 1 2 3 Percentage Month -8.0 0.0 0 1 2 3 Percentage Month 8.0 LEV: 10-33 © 2018 Cengage Learning. All rights reserved. May not […]
Accounting Journal Drill Homework Classify each item listed below as an asset, liability, or owner’s equity by placing a check mark in the Asset, Liability, or Owner’s Equity column
Drill 1-D1 Classifying assets, liabilities, and owner’s equity INSTRUCTIONS: Classify each item listed below as an asset, liability, or owner’s equity by placing a check mark in the Asset, Liability, or Owner’s Equity column. Asset Liability Owner’s Equity 1. Cash […]
Accounting Chapter 10 Homework The newly designated materials purchasing manager is the information source for material prices
CHAPTER 10: Standard Costing and Variance Analysis E 10-58 ↓ links ↓ change here, please ↓ 1. Variable overhead analysis: Actual VOH: 4Lbs. of RM reqd. 1,170 U Spending 36 DLH 0.70 × 158,900 = 111,230 18.00 wage rate Applied […]
Accounting Chapter 24 Homework Recording international and Internet sales Time Drafts Receivable Sales
Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch24_hr_TE_107-108.indd 107 1/24/18 5:11 PM Chapter 24 Recording International and Internet Sales • 107 24-R […]
Accounting Chapter 10 Homework Control limits are usually set by judgment although statistical approaches are occasionally used
1. Standard costs are essentially budgeted amounts on a per-unit basis. Unit standards serve as inputs in building budgets. 2. Unit standards are used to build flexible budgets. Unit standards for variable costs are the variable cost component of a […]
Accounting Chapter 24 Homework A statement prepared by the seller of merchandise addressed to the buyer showing a detailed listing and description of merchandise sold, including prices and terms
Chapter 24 Recording International and Internet Sales • 779 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch24_hr_779-796.indd 779 1/18/18 1:41 AM Study Guide Analyzing International […]
Accounting Chapter 10 Homework Eachitem’s variance should be analyzed to see if these costs can be reduced. The volume variance is the incorrect prediction of volume
CHAPTER 10 Standard Costing and Variance Analysis P 10-69 1. MPV = (AP – SP)AQ = ($1.55 – $1.50)44,250 = $2,213* U * Rounded to the nearest dollar. MUV = (AQ – SQ*)SP = (44,250 – 45,000)$1.50 = $1,125 F […]
Accounting Chapter 23 Homework Gain on Realization Rebecca Dixon, Capital Doris Dixon, Capital Rebecca Dixon, Capital Doris Dixon, Capital Loss on Realization
Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23-3 ON YOUR OWN, p. 741 Liquidation of a partnership Cash $35,000.00 Supplies 3,000.00 Ofce […]
Accounting Chapter 10 Homework Standard Costing And Variance Analysis standard price direct Materials direct Labor variable Overhead fixed Overhead standard Cost Per
CHAPTER 10: Standard Costing and Variance Analysis E 10-58 1. Variable overhead analysis: *Standard Hours = 2 hours × 79,600 units = 159,200 hours E 10-59 1. Fixed Overhead Rate = $832,500/450,000* = $1.85 per DLH SH = 594,000 units […]
Accounting Chapter 23 Homework A written agreement setting forth the conditions under which a partnership is to operate Each member of a partnership
Study Guide 23 Name Perfect Score Your Score Identifying Accounting Terms 7 Pts. Identifying Accounting Concepts and Practices 11 Pts. Analyzing Partnership Transactions 27 Pts. Total 45 Pts. Part One—Identifying Accounting Terms Directions: Select the one term in Column I […]
Accounting Chapter 10 Homework Part Variable Overhead Spending Variance Can Caused Inefficient Use Overhead Resources 19
1. Standard costs are essentially budgeted amounts on a per-unit basis. Unit standards serve as inputs in building budgets. 2. Unit standards are used to build flexible budgets. Unit standards for variable costs are the variable cost component of a […]
Accounting Chapter 23 Homework Realization Amp Painters distribution Net Income Statement for Year Ended December 31 20 Johannes
Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch23_hr_TE_103-106.indd 103 1/24/18 5:10 PM 23-R RECYCLING PROBLEM (LO1, 2, 3, 4, 5, 6, 7) […]
Accounting Chapter 9 Homework A statement of cash flows would also be helpful to see how cash has been generated and used in the past
CHAPTER 9 Profit Planning and Flexible Budgets P 9-69 ↓ links ↓ 1. Direct Labor Hours = (100,000 bags × 0.20 hour) + (90,000 bags × 0.30 hour) 100,000 × 0.20 + 90,000 × 0.30 = 20,000 hours + 27,000 […]
Accounting Chapter 9 Homework A negative budgeted cash balance is unacceptable. The easiest way to deal with it would be for the owner to consider taking less cash salary
CHAPTER 9 Profit Planning and Flexible Budgets E 9-51 change here, please ↓ ↓ S12L7 S12L5 Beginning inventory 340 170 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Year % from next quarter’s sales 20% 30% Sales………………….…………………………………….……………… 800 2,200 5,600 […]
Accounting Chapter 22 Homework If the reversing entry is not recorded, Elert Company must take care to make the correct entry when the note and interest are received
Name Date Class 22-C CHALLENGE PROBLEM (continued) © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. CASH RECEIPTS JOURNAL PAGE 1 2 3 4 5 6 7 […]
Accounting Chapter 22 Homework Expenses income From Operations other Revenue interest Income rent Income gain Plant Assets total Other Income other Expenses interest Expense loss
Name Date Class 22-4 APPLICATION PROBLEM (concluded) 2. GENERAL JOURNAL PAGE DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT 1 1 2 2 3 3 4 4 5 5 6 6 7 7 8 8 Interest Expense 6 0 […]
Accounting Chapter 22 Homework Preparing a statement of cash flows for a corporation Inventory purchases Salaries and wages Insurance Interest Taxes
Chapter 22 End-of-Fiscal-Period Work for a Corporation • 703 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch22_hr_683-754.indd 703 1/18/18 1:40 AM Statement of Stockholders’ Equity […]
Accounting Chapter 9 Homework Company direct Labor Budget for The Fourth Quarter October units Produced Direct Labor Time Per unit Hours total
CHAPTER 9 Profit Planning and Flexible Budgets P 9-69 1. Direct Labor Hours = (100,000 bags × 0.20 hour) + (90,000 bags × 0.30 hour) = 20,000 hours + 27,000 hours = 47,000 direct labor hours 2. Actual Budgeted* V […]
Accounting Chapter 22 Homework Am name date class Your Own Continued Williams Corporation unadjusted Trial Balance Concluded december 31 20account Title debit credit paid in Capital
Chapter 22 End-of-Fiscal-Period Work for a Corporation • 683 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch22_hr_683-754.indd 683 1/18/18 1:40 AM Study Guide 22 Name […]
Accounting Chapter 9 Homework October beginning Balance cash Receipts cash Available less payments For Food And Supplies Purchases owners Draw workers
1. Budgets are the quantitative expressions of plans. Budgets are used to translate the goals and strategies of an organization into operational terms. 3. The planning and control functions of budgeting can benefit all organizations, regardless of size. All organizations […]
Accounting Chapter 22 Homework Income Before Federal Income Tax less Federal Income Tax Expense net Income After Federal
Chapter 22 End-of-Fiscal-Period Work for a Corporation • 89 Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch22_hr_TE_089-102.indd 89 1/25/18 12:43 PM 22-R […]
Accounting Chapter 9 Homework Planning And Flexible Budget se palladium In cover head Budget for The Coming Year formula variable Costs maintenance power indirect Labor total
CHAPTER 9 Profit Planning and Flexible Budgets E 9-51 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Y ea r Sales………………….……… … 800 2,200 5,600 4,600 13,200 Desired ending 1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr. Y ea r […]
Accounting Chapter 21 Homework Interest Receivable Interest Income Interest Expense Interest Payable Unearned Rent Income Rent Income
670 • Working Papers © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 21-2 ON YOUR OWN (concluded) GENERAL JOURNAL PAGE 13 DATE ACCOUNT TITLE DOC. NO. […]
Accounting Chapter 8 Homework Qualitative factors that Hetrick should consider include quality of crowns, reliability and promptness of producer
CHAPTER 8 Tactical Decision Making and Relevant Analysis 8-29 © 2018 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. CHAPTER 8 Tactical Decision Making […]
Accounting Chapter 21 Homework An entry recording the receipt of cash before the related revenue is earned or payment of cash before the related expense is incurred
Study Guide 21 Name Perfect Score Your Score Identifying Accounting Terms 7 Pts. Analyzing Accounts Affected by Accruals and Deferrals 30 Pts. Analyzing Accruals and Deferrals 13 Pts. Total 50 Pts. Part One—Identifying Accounting Terms Directions: Select the one term […]
Accounting Chapter 8 Homework As a result, Petoskey should keep Conway because profits are higher with Conway than without Conway
CHAPTER 8 Tactical Decision Making and Relevant Analysis E 8-40 change here, please ↓ 1. The two alternatives are: Direct materials 3.10 (1) to accept the special order Direct labor 2.25 (2) to reject the special order Variable overhead 1.15 […]
Accounting Chapter 21 Homework Notes Payable Interest Payable Unearned Rent Income Interest Income Rent Income Interest Expense
Chapter 21 Accounting for Accruals, Deferrals, and Reversing Entries • 85 Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch21_hr_TE_085-088.indd 85 1/24/18 5:07 […]
Accounting Chapter 20 Homework Employee Income Tax Pyable Social Security Tax Payable Medicare Tax Payable Bonds Payable
Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch20_hr_605-656.indd 641 1/18/18 1:37 AM Reinforcement Activity 3, Part A • 641 ACCOUNT Notes Payable […]
Accounting Chapter 8 Homework Another challenge might be accurately estimating the costs on which the markup percentage is applied
CHAPTER 8 Tactical Decision Making and Relevant Analysis E 8-42 1. Sweaters Jackets Total Sales……………………….………………… $210,000 $450,000 $660,000 Less variable expenses: V ariable cost of goods sold………… … 145,000 196,000 341,000 V ariable selling expense…………… … 10,500 22,500 33,000 Contribution […]
Accounting Chapter 20 Homework Less total cash paid during the month Equals cash balance on hand at the end of the month Checkbook balance on the next unused check stub
Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. Reinforcement Activity 3, Part A • 625 23148_ch20_hr_605-656.indd 625 1/18/18 1:37 AM Name Date Class […]
Accounting Chapter 8 Homework The special order should be accepted The statement that “existing sales will not be affected” indicates that there will be no product-line cannibalization
1. Tactical decisions are short run in nature; they involve choosing among alternatives with an immediate or limited end in view. Strategic decisions involve selecting strategies that yield a long-term competitive advantage. 2. A manager can identify alternatives by using […]
Accounting Chapter 20 Homework May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part
Chapter 20 Accounting for Inventory • 605 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch20_hr_605-656.indd 605 1/18/18 1:37 AM Name Perfect Score Your Score Identifying […]
Accounting Chapter 7 Homework The divisional manager may possess more information, making the selection of the automated system the best alternative for all concerned
CHAPTER 7 Cost-Volume-Profit Analysis E 7-43 1. Sales mix is 3:1 (three times as many DVDs are sold as equipment sets). 3 : 1 2. Variable Sales Total Product Price –Cost = CM × Mix = CM DVDs $ 8 […]
Accounting Chapter 20 Homework Determining the cost of inventory using the FIFO, LIFO, and weighted-average inventory costing methods
Chapter 20 Accounting for Inventory • 81 Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch20_hr_TE_081-084.indd 81 1/24/18 5:06 PM 20-R RECYCLING PROBLEM […]
Accounting Chapter 19 Homework Depreciation Expense Accumulated Depreciation Adjusting Entries Depreciation Expense Accumulated Depreciation—Furniture Depreciation Expense Equipment Accumulated Depreciation
PLANT ASSET RECORD No. General Ledger Account No. Description General Ledger Account Date Serial Bought Number Original Cost Estimated Estimated Salvage Depreciation Useful Life Value Method Disposed of: Discarded Sold Traded Date Disposal Amount Year Annual Depreciation Expense Accumulated Depreciation […]
Accounting Chapter 7 Homework Perhaps in so doing, the conflict of interest that underlies her decision will become apparent
CHAPTER 7 Cost-Volume-Profit Analysis E 7-43 1. Sales mix is 3:1 (three times as many DVDs are sold as equipment sets). 2. V ariable Sales Total Product Price – Cost = CM × Mix = CM DVDs $ 8 $ […]
Accounting Chapter 19 Homework Calculating straight-line depreciation Amortization Expense Patent Amortization Expense Trademark
Plant asset: Estimated salvage value: Depreciation method: Estimated useful life: Depreciation rate: Date bought: Original cost: Year Beginning Book Value Annual Depreciation Accumulated Depreciation Ending Book Value Name Date Class 19-5 WORK TOGETHER (concluded) DEPRECIATION TABLE 1$800.00 $200.00 $200.00 $600.00 […]
Accounting Chapter 7 Homework Margin of safety is the sales activity in excess of that needed to break even Operating leverage is the use of fixed costs to extract higher percentage changes in profits as sales activity changes
1. CVP analysis allows managers to focus on selling prices, volume, costs, profits, and sales mix. Many different “what-if” questions can be asked to assess the effect of 4. At the break-even point, all fixed costs are covered. Above the […]
Accounting Chapter 19 Homework A type of accelerated depreciation that multiplies the book value of an asset by a constant depreciation rate in some multiple of the straight-line rate
Study Guide 19 Name Perfect Score Your Score Identifying Accounting Terms 14 Pts. Analyzing Plant Asset and Intangible Asset Transactions 20 Pts. Analyzing Plant Assets, Depreciation, Intangible Assets, and Amortization 14 Pts. Total 48 Pts. Part One—Identifying Accounting Terms Directions: […]
Accounting Chapter 19 Homework continue Record Back Card depreciation Method computer straight line original Cost plant Asset estimated Salvage Value Estimated Useful
Chapter 19 Accounting for Plant Assets, Depreciation, and Intangible Assets • 75 Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch19_hr_TE_075-080.indd 75 1/24/18 […]
Accounting Chapter 6 Homework A similar observation can be made about the detail concerning materials and conversion costs
CHAPTER 6 Process Costing P 6-57 (Concluded) 2. Cabinets Components Conversion Units completed……………………………………………………………………………………………………….. 150,000 150,000 150,000 150,000 Units in EWIP……………………………………………………………………………………………….. 30,000 30,000 6,000 30,000 Equivalent units……………………………………………………………………………………………….. 180,000 180,000 156,000 *0.20 × 30,000 20% × 30,000 = 6,000 3. Costs to […]
Accounting Chapter 18 Homework Journalizing transactions related to debt and equity financing Bonds Payable Lime of credit capital stock
Name Date Class © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch18_hr_TE_073-074.indd 73 1/24/18 5:00 PM 18-R RECYCLING PROBLEM (LO2, 4, 5) Journalizing transactions related to […]
Accounting Chapter 18 Homework A class of stock that gives the shareholders preference over common shareholders in dividends along with other rights
Chapter 18 Acquiring Capital for Growth and Development • 541 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch18_hr_541-560.indd 541 1/18/18 1:36 AM Study Guide 18 […]
Accounting Chapter 6 Homework Although the answers may vary, some essential elements should be mentioned in the report
CHAPTER 6 Process Costing P 6-58 1. Physical flow: Units to account for: Units accounted for: Units in beginning WIP… … 60,000 Units completed………… … 150,000 Units started……………… … 120,000 Units in ending WIP……… … 30,000 Total units to acct. […]
Accounting Chapter 17 Homework Office Expense income From Operations other Revenue net Income Before Federal Income Tax less Federal Income
© 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_Ch17_hr_TE_067-072.indd 67 1/24/18 4:59 PM Name Date Class 17-R RECYCLING PROBLEM (LO1, 2, 3, 4, 5, 6, 7, […]