Archives: Solution Manual
Accounting Chapter 9 Homework An organization with the legal rights of a person which many persons or other corporations may own The assets or other financial resources available to a busines
Study Guide 9 Name Perfect Score Your Score Identifying Accounting Terms 41 Pts. Analyzing Accounting Concepts and Practices 20 Pts. Analyzing Transactions Recorded in Special Journals 24 Pts. Total 85 Pts. Part One—Identifying Accounting Terms Directions: Select the one term […]
Accounting Chapter 9 Homework Journalizing purchases, cash payments, and other transactions Brown Company Holliman Industries
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_Ch09_hr_TE_025-030.indd 25 1/24/18 4:39 PM 9-R RECYCLING PROBLEM (LO6, 7, 8, 10) Journalizing purchases, cash […]
Accounting Chapter 8 Homework Journalizing and posting closing entries with two revenue accounts and a net loss; preparing a post-closing trial balance
ACCOUNT Insurance Expense ACCOUNT NO. 530 DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20– June 30 Balance ✔1 3 5 00 ACCOUNT Advertising Expense ACCOUNT NO. 510 DATE ITEM POST. REF. DEBIT CREDIT BALANCE DEBIT CREDIT 20– June […]
Accounting Chapter 8 Homework The series of accounting activities included in recording financial information for a fiscal period A trial balance prepared after the closing entries are posted
Chapter 8 Recording Closing Entries and Preparing a Post-Closing Trial Balance for a Service Business • 159 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch08_hr_159-196.indd […]
Accounting Chapter 8 Homework Journalizing and posting closing entries with a net loss; preparing a post-closing trial balance
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_Ch08_hr_TE_019-024.indd 19 1/24/18 4:39 PM 8-R RECYCLING PROBLEM (LO1, 2) (General Journal) Journalizing and posting […]
Accounting Chapter 7 Homework Supplies Expense Utilities Expense Recycling Problem Working Papers Destin Heating Repair Statement.
Chapter 7 Financial Statements for a Proprietorship • 17 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_Ch07_hr_TE_017-018.indd 17 1/24/18 4:38 PM 7-R […]
Accounting Chapter 7 Homework The Full Disclosure accounting concept is applied when a company always prepares financial statements at the end of each monthly fiscal period
Chapter 7 Financial Statements for a Proprietorship • 143 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch07_hr_143-158.indd 143 1/18/18 1:16 AM Study Guide 7 Part […]
Accounting Chapter 6 Homework Work Sheet and Adjusting Entries for a Service Business journalizing and posting adjusting entries
Chapter 6 Work Sheet and Adjusting Entries for a Service Business • 13 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_Ch06_hr_TE_013-016.indd 13 […]
Accounting Chapter 6 Homework The length of time for which a business summarizes its financial information and reports its financial performance
Chapter 6 Work Sheet and Adjusting Entries for a Service Business • 125 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch06_hr_125-142.indd 125 1/18/18 1:16 AM […]
Accounting Chapter 5 Homework Salon Supplies Date for supplies balance Brought Forward amount Deposited date sub total other subtotal amount This Check balance Carried Forward
Chapter 5 Cash Control Systems • 91 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch05_hr_091-124.indd 91 1/18/18 1:15 AM Study Guide 5 Part One—Identifying Accounting […]
Accounting Chapter 5 Homework Reconciling a bank statement; journalizing a bank service charge, a dishonored check, and petty cash transactions
108 • Working Papers © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch05_hr_091-124.indd 108 1/18/18 1:15 AM 5-M MASTERY PROBLEM, pp. 150–151 Reconciling a bank statement; […]
Accounting Chapter 4 Homework Vivian Lynum, Capital Accounts Receivable—Clara Walthers Journalizing correcting entries and correcting posting errors
© 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch04_hr_055-090.indd 73 1/18/18 1:14 AM Name Date Class 4-3 APPLICATION PROBLEM, p. 116 Journalizing correcting entries and correcting […]
Accounting Chapter 4 Homework The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current
Chapter 4 Posting to a General Ledger • 55 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch04_hr_055-090.indd 55 1/18/18 1:14 AM Study Guide 4 Name […]
Accounting Chapter 4 Homework Miscellaneous Expense Accounts Receivable—Cindy West Journalizing transactions and posting to a general ledger
Chapter 4 Posting to a General Ledger • 7 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_Ch04_hr_TE_007-010.indd 7 1/25/18 12:33 PM 4-R […]
Accounting Chapter 3 Homework The amount of depreciation for the first year using the straight-line method. Calculate the time of depreciation to the nearest number of months
Drill 17-D1 Analyzing financial statements INSTRUCTIONS: Selected comparative income statement and balance sheet amounts are given below. Calculate the vertical analysis ratios for each item. Round percentage calculations to the nearest 0.1%. Financial Statement Item Current Year Prior Year Amount […]
Accounting Chapter 3 Homework Accounts Payable—Central Supplies Journalizing transactions and starting a new journal page
Chapter 3 Journalizing Transactions • 5 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_Ch03_hr_TE_005-006.indd 5 1/24/18 4:32 PM 3-R RECYCLING PROBLEM (LO3, […]
Accounting Chapter 3 Homework Title mar Cash Dennis Marier Capital Supplies cash Prepaid Insurance cash Supplies accounts Payable supply Mart8 Accounts Payable supply
Chapter 3 Journalizing Transactions • 35 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch03_hr_035-054.indd 35 1/18/18 1:14 AM Study Guide 3 Name Perfect Score Your […]
Accounting Chapter 2 Homework Sold merchandise on account to Juan Cardena, plus sales tax Recorded cash and credit card sales, plus sales tax
Drill 10-D1 Analyzing posting transactions A form for analyzing posting is on the next page. INSTRUCTIONS: 1. For each of the following transactions, write the titles of the general ledger and subsidiary ledger accounts affected by the transaction in Column […]
Accounting Chapter 2 Homework Sales Prepaid Insurance Accounts Payable – Hilltop Supplies Accounts Payable – Tech Supplies Supplies Accounts Receivable – Adam Middleton Accounts Receivable – Janet East
Chapter 2 Analyzing Transactions into Debit and Credit Parts • 3 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_Ch02_hr_TE_003-004.indd 3 1/24/18 4:32 […]
Accounting Chapter 2 Homework An amount recorded on the left side of an account Analyzing Transactions into Debit and Credit Parts
Chapter 2 Analyzing Transactions into Debit and Credit Parts • 19 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch02_hr_019-034.indd 19 1/18/18 1:13 AM Study Guide […]
Accounting Chapter 1 Homework Determining how transactions change an accounting equation Recycling Problem
Chapter 1 Starting a Proprietorship: Changes That Affect the Accounting Equation • 1 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_Ch01_hr_TE_001-002.indd 1 […]
Accounting Chapter 1 Homework Analyzing How Transactions Change Owner’s Equity in an Accounting Equation An increase in equity resulting from the sale of goods or services goods or services
Chapter 1 Starting a Proprietorship: Changes That Affect the Accounting Equation • 1 © 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 23148_ch01_hr_001-018.indd 1 1/18/18 1:13 AM […]
Accounting Chapter 26 Homework Instead Of discussing Assumptions Jerrod Stated What The Assumptions Are And How They are
CHAPTER 26 Capital Investment Analysis Prob. 26-3B (Concluded) $400,240 $420,000 *Rounded 3. The computer system upgrade has the largest present value index. Although the ATM kiosk expansion has the largest net present value, it returns less present value per dollar […]
Accounting Chapter 26 Homework The report can take many forms and should include, at a minimum, the following points
CHAPTER 26 Capital Investment Analysis Prob. 26-2A 1. a. Cash payback period for both projects: 2 years (the year in which accumulated net cash flows equal $900,000), shown as follows: Net Cash Cumulative Net Cash Cumulative Year Flow Net Cash […]
Accounting Chapter 26 Homework Investment Analysis ex annual Net Cash Flow sewing Machine 1800 Hours 290 Baseballs
1. The principal objections to the use of the average rate of return method are its failure to consider the expected cash flows from the proposals and the timing of these flows. 5. The cash payback period ignores cash flows […]
Accounting Chapter 25 Homework The Reason That Ester Delivers More Contribution Margin Per bottle neck Hour Than Does
CHAPTER 25 Differential Analysis, Product Pricing, and Activity-Based Costing Prob. 25-5A (Concluded) 6. a. Reject Accept Differential Order Order Effects (Alternative 1) (Alternative 2) (Alternative 2) Revenues $0 $ 180,000 $ 180,000 Costs: Differential Analysis Reject Order (Alt. 1) or […]
Accounting Chapter 25 Homework Unit Volume unit Cost c the Factory Overhead Allocated Each Product The Basis Direct
CHAPTER 25 Differential Analysis, Product Pricing, and Activity-Based Costing Ex. 25-13 a. Reject Accept Differential Order Order Effects (Alternative 1) (Alternative 2) (Alternative 2) 1 18,000 units × $32 per unit 2 18,000 units × $29 per unit b. The […]
Accounting Chapter 25 Homework Analysis Product Pricing And Activity based Costing exercise sex 251adifferential Analysis lease Machinery Alt Sell Machinery
1. a. Differential revenue is the amount of increase or decrease in revenue expected from a p articular course of action compared to an alternative. b. Differential cost is the amount of increase or decrease in cost expected from a […]
Accounting Chapter 24 Homework Semiconductor Division Plant Site This Case The Total Cost To the X ray Division
CHAPTER 24 Decentralized Operations Prob. 24-3B (Concluded) 3. Per dollar of invested assets, the Electronic Brokerage Division is the most profitable of the three divisions. Assuming that the return on investments do not change in the future, an expansion of […]
Accounting Chapter 24 Homework Operations pro b When Unused Capacity Exists The Supplying Division The Consumer division The
CHAPTER 24 Decentralized Operations Prob. 24-1A 1. Over (Under) Actual Budget Budget Budget Customer service salaries $ 692,700 $ 628,870 $ 63,830 Insurance and property taxes 126,780 131,860 $ (5,080) Distribution salaries 990,380 1,003,190 (12,810) 2. The customer service and […]
Accounting Chapter 24 Homework Decentralized Operations Practice Exercises 241a 285700 Over Budget 248800 Over Budget
1. In a centralized operation, all major planning and operating decisions are made by top management . In a decentralized operation, managers of separate divisions or units are delegated operating responsibility. The division (unit) managers are responsible for planning and […]
Accounting Chapter 23 Homework Variances From Standard Costs CP 232use This Activity Compare Performance Measures From Different
CHAPTER 23 Evaluating Variances from Standard Costs Comp. Prob. 5 (Continued) 8. Fixed1Variable2Total Utilities $ 500 $275 $ 775 1Fixed costs [from part (3)] 2Variable utility cost: $0.20 × 1,375 cases = $275 9. Sales1$150,000 Finished goods inventory, August 1 […]
Accounting Chapter 23 Homework Favorable total Direct Labor Cost Variance direct Labor direct Labor Rate Variance Direct Labor Time cost
CHAPTER 23 Evaluating Variances from Standard Costs Prob. 23-5A 1. Actual hours provided (5 × 40 hrs.)…………………………………………… … 200 Standard hours required for the original plan*……………………………… … 186 Labor time difference…………………………………………………………… … 14 × Standard labor rate……………………………………………………………… $32 Direct labor […]
Accounting Chapter 23 Homework Output Measures cycle Time For Student Register For Classes number Times Course Unavailable number Separate
CHAPTER 23 Evaluating Variances from Standard Costs Ex. 23-15 Direct labor hours 18,000 20,000 22,000 V ariable overhead cost: Indirect factory labor $162,000 $180,000 $198,000 Power and light 10,800 12,000 13,200 Indirect materials 57,600 64,000 70,400 1 ($180,000 ÷ 20,000) […]
Accounting Chapter 23 Homework Materials actual Quantity Standard Quantity quantity Variance Standard Price 960 Units 935
EVALUATING VARIANCES FROM STANDARD COSTS 1. Standards are performance goals. Manufacturing companies normally use standard cost for each of the three following product costs: a. Direct materials b. Direct labo r c. Factory overhead Standard cost systems enable management to […]
Accounting Chapter 22 Homework These Attempts Slide Expenditures should Not Supported Else The Whole Concept The Budget
1. Unit Sales Unit Selling Volume Price Total Sales King: Northern Domestic 610 $780 $ 475,800 Southern Domestic 340 780 265,200 International 360 850 306,000 Total 1,310 $1,047,000 Prince: Northern Domestic 750 $550 $ 412,500 Southern Domestic 440 550 242,000 […]
Accounting Chapter 22 Homework The budget indicates that the minimum cash balance will not be maintained in July
CHAPTER 22 Budgeting Ex. 22-19 October November December Receipts from cash sales: Cash sales (25% × current month’s sales) $175,000 $162,500 $125,000 September sales on account: Collected in October (Accounts Receivable balance) 290,000 October sales 1 on account: Collected in […]
Accounting Chapter 22 Homework Budgeting discussion Questions the Three Major Objectives Budgeting Are 1 Establish Specific Goals
1. The three major objectives of budgeting are (1) to establish specific goals for future operations, (2) to execute plans to achieve the goals, and (3) to periodically compare actual results with the goals. 2. If goals set by the […]
Accounting Chapter 21 Homework Analysis ex 2112cost Goods Sold selling General And Administrative expenses cost Goods Sold selling General And Administrative expenses total
1. Total variable costs change in proportion to changes in the level of activity. Unit variable costs remain the same regardless of the level of activity. 2. a. Variable costs b. Variable costs 3. Total fixed cost remains the same […]
Accounting Chapter 21 Homework They Are Really Longer term Investments After The First Four Years the Risk Increases
CHAPTER 21 Cost-Volume-Profit Analysis Prob. 21-3B 1. Break-Even Sales (units) $800,000 $40* * $150 unit selling price – $110 unit variable cost 3. 4. Sales (32,000 × $150)…………………………… $4,800,000 Total fixed costs………………………………… … $ 800,000 Total variable costs (32,000 × […]
Accounting Chapter 21 Homework The company should determine the sales potential if the additional product is produced and then evaluate the advantages and disadvantages
CHAPTER 21 Cost-Volume-Profit Analysis Prob. 21-2A 1. Variable Cost Variable Total Cost Percentage Cost Cost of goods sold…………… $25,000,000 × 70% = $17,500,000 Selling expenses……………… 4,000,000 × 75% = 3,000,000 Administrative expenses…… … 3,000,000 × 50% = 1,500,000 Total variable […]
Accounting Chapter 20 Homework Use This Case Familiarize Students With Process industries Note That Set Example Companies
CHAPTER 20 Process Cost Systems Prob. 20-3B (Concluded) 2. Work in Process—Filling Department 496,850 Work in Process—Reaction Department 496,850 3. Direct materials: –$0.08 decrease ($9.50 – $9.58) Conversion: –$0.10 decrease ($3.80 – $3.90) 4. The cost of production report may […]
Accounting Chapter 20 Homework Department units Assigned Costs transferred Packing Department In December inventory Process December 3125 Completed total Units Assigned
CHAPTER 20 Process Cost Systems Prob. 20-3A (Continued) Direct COSTS Materials Conversion Total Costs per equivalent unit: Inventory in process, July 1 $ 2,061 Costs incurred in July 40,883 Total costs accounted for by the Sifting Department $42,944 Cost allocated […]
Accounting Chapter 20 Homework Equivalent units of production are calculated when there are beginning or ending inventories that are partially completed
CHAPTER 20 Process Cost Systems Ex. 20-16 (Concluded) Direct COSTS Materials Conversion Total Costs per equivalent unit: Total costs for August in Roasting Total costs accounted for by the Roasting Department $146,484 Costs allocated to completed and partially completed units: […]
Accounting Chapter 20 Homework The cost per equivalent unit is used to allocate direct materials and conversion costs between completed and partially completed units
1. a. An assembly-type industry using mass production methods, such as TV assembly, would use the process cost system because the products are somewhat standard and lose their identities as individual items. In such industries, it is neither practical nor […]
Accounting Chapter 19 Homework Inc The graph of job costs for Product CCR indicates two significant trends in job cost
CHAPTER 19 Job Order Costing Prob. 19-2A 1. a. Materials 33,100 Accounts Payable b. Work in Process 56,570 Factory Overhead 5,720 Materials Wages Payable c. Factory Overhead 6,470 Accounts Payable Work in Process Computation of cost of jobs finished: Direct […]
Accounting Chapter 19 Homework The job order cost system provides a separate record of each quantity of product that passes through the factory
1. a. Job order cost system and process cost system. b. The job order cost system provides a separate record of each quantity of product that p asses through the factory. c. Process cost systems accumulate costs for each department […]
Accounting Chapter 18 Homework Managerial Accounting CP the Vice President The Information Systems Division Can Use Managerial accounting
CHAPTER 18 Introduction to Managerial Accounting Prob. 18-4A (Concluded) 3. Sales $4,550,000 Cost of goods sold: Finished goods inventory, May 1 $ 190,000 Cost of goods manufactured 2,491,500 Cost of finished goods available for sale $2,681,500 Prob. 18-5A 1. Work […]
Accounting Chapter 18 Homework Costs for The Quarter Ended June 30cost Direct Materials Used Production direct Labor factory Overhead maintenance
1. Financial accounting and managerial accounting are different in several ways. Financial accounting information is reported in statements that are useful to persons or groups outside a company. These statements objectively report the results of operations for fixed periods of […]
Accounting Chapter 17 Homework Both the return on total assets and the return on stockholders’ equity are above the industry average for all five years
1. Amount Percent Amount Percent Sales $1,300,000 100.0% $1,180,000 100.0% Cost of merchandise sold 682,500 52.5% 613,600 52.0% Gross profit $ 617,500 47.5% $ 566,400 48.0% Selling expenses $ 260,000 20.0% $ 188,800 16.0% Administrative expenses 169,000 13.0% 177,000 15.0% […]