Archives: Solution Manual
978-0078025273 Chapter 2 Excel
Student Name: Class: Cash 33,300$ Accounts payable 23,000$ Supplies 5,380 Accounts receivable 12,200 Equipment 77,000 Francisco Valdez, Capital 104,880 Total Assets 127,880$ Total Liabilities and Owner’s Eq. 127,880$ Correct! Correct! Owner’s Equity February 28, 2013 Problem 02.03A McGraw-Hill/Irwin Instructor Balance […]
978-0078025273 Chapter 19 Solution Manual Part 2
PROBLEM 19.2B PAGE POST. REF. 1 2013 1 12 Deborah Simpson, Capital 11760000 12 13 To record investment of cash by Simpson 13 Cash 12660000 Accounts Receivable 900000 Allowance for Doubtful Accounts 220000 680000 Merchandise Inventory 8600000 Furniture and Fixtures […]
978-0078025273 Chapter 19 Solution Manual Part 1
• HVP has assisted in the development of over 80 ambulatory care centers representing over $400 million in value. • HVP has worked with over 200 hospitals nationwide. • HVP is an employee-owned company. The founders of HVP personally fund […]
978-0078025273 Chapter 19 Excel
Student Name: Class: Adjusting Entries Post Date Description Ref Debit Credit 2013 Jan. 1 40,000 116,000 365,000 75,000 7,000 60,000 529,000 «- Correct! 1 423,200 423,200 «- Correct! 463,200$ 116,000$ 7,000 109,000 365,000 75,000 1,012,200$ Correct! 55.6% Correct! CONTEMPORARY COMPUTING […]
978-0078025273 Chapter 18 Solution Manual Part 2
PROBLEM 18.9A (continued) PAGE POST. REF. 37 31 Impairment of Intangibles—Goodwill 3000000 37 GENERAL JOURNAL 1 DATE DESCRIPTION DEBIT CREDIT Chapter 18 637 Copyright © 2012 The McGraw-Hill Companies, Inc. All rights reserved. 38 Goodwill 3000000 38 39 To […]
978-0078025273 Chapter 18 Solution Manual Part 1
• The Coca-Cola Company is the world’s largest non-alcoholic beverage company. • The Coca-Cola Company sells over 3,300 beverages including Hi-C, Fruitopia, Dasani water, Sprite, Minute Maid, and Powerade. • Coca-Cola-Zero, introduced in 2005, was one of the most successful […]
978-0078025273 Chapter 18 Excel
Student Name: Class: 4,200,000$ 4,200,000$ Correct! 2,400,000$ 16,000$ 10,000 6,000 6,400 1,850 1,150 50,400 32,000 2,497,800$ Correct! 125,000$ 125,700 250,700$ Correct! McGraw-Hill Instructor Cost of land improvements 3. Land Improvements Cost of land Permit to raze facility Inspection fees Attorney […]
978-0078025273 Chapter 17 Solution Manual
• The Best Buy family of brands and partnerships collectively generates more than $45 billion in annual revenue and includes brands such as Best Buy; Audiovisions; The Carphone Warehouse; Future Shop; Geek Squad, Jiangsu Five Star; Magnolia Audio Video; Napster; […]
978-0078025273 Chapter 17 Excel
Student Name: Class: Number Unit Total Description of Units Cost Cost Beginning Inventory, January 1 90 $103.00 9,270.00$ Purchases: January 6 60 102.00 6,120.00 January 15 45 102.00 4,590.00 January 22 35 96.00 3,360.00 Total Merchandise Available for Sale 230 […]
978-0078025273 Chapter 16 Solution Manual
• Bank of America reported net income of $14.9 billion in 2007 and $6.3 billion in 2009. • Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA […]
978-0078025273 Chapter 16 Excel
Student Name: Class: Principal X Rate X Time = Interest Note 1 20,000$ 8.00% 180 800.00$ <–Correct! 360 Note 2 6,000$ 12.00% 3180.00$ <–Correct! 12 Note 3 25,000$ 9.00% 120 750.00$ <–Correct! 360 Interest Calculations SANTAS COMPANY McGraw-Hill Instructor Problem […]
978-0078025273 Chapter 15 Solution Manual
• Federal Express Corporation was founded 1971 in Little Rock, Ark. • The most popular perk for employees is called “jump seating.” This allows employees to hitch an unlimited number of free rides anywhere FedEx flies. • In 1973 on […]
978-0078025273 Chapter 15 Excel
Student Name: Class: Estimated Rate of Estimated Amount Loss Uncollectible 2,040,000$ 0.50% 10,200.00$ 548,600 1.20% 6,583.20 16,783.20$ Correct! Post Description Ref Debit Credit 2010 Dec. 31 16,783.20 16,783.20 2014 Jan. 20 830.00 830.00 Nov. 26 830.00 830.00 Accounts Receivable 392,000.00 […]
978-0078025273 Chapter 14 Solution Manual
• Americans drink an average of 2.6 cups of coffee per day. • Green Mountain Coffee Roasters (GMCR) maintains two business units: the Specialty Coffee Business Unit (Green Mountain Coffee® and Tully’s Coffee® brands) and the Keurig Business Unit which […]
978-0078025273 Chapter 14 Excel
Student Name: Class: 695,300$ 44,800$ 441,225 486,025 48,500 437,525 257,775 80,500 31,000 11,388 9,000 22,900 5,900 4,400 7,600 18,500 3,500 1,300 28,500 Total Operating Expenses 224,488 Net Income for Year 33,287$ Correct! Problem 14.03A McGraw-Hill Instructor Cost of Goods Sold […]
978-0078025273 Chapter 13 Solution Manual Part 5
MINI-PRACTICE SET 2 (continued) ACCOUNT Rent Ex p ense ACCOUNT NO. ACCOUNT Salaries Expense ACCOUNT NO. 2013 Oct. 29 J16 1080000 10 80 000 31 Closing J18 1080000 ─0─ ACCOUNT Supplies Expense ACCOUNT NO. 2013 Oct. 31 Adjusting J17 231000 […]
978-0078025273 Chapter 13 Solution Manual Part 4
MINI-PRACTICE SET 2 (continued) PAGE POST. REF. 1 2013 1 12 goods returned; original purchase made 12 13 on Invoice 3418, October 25 13 14 14 15 29 Salaries Expense 632 1080000 15 16 Salaries Payable 229 891600 16 17 […]
978-0078025273 Chapter 13 Solution Manual Part 3
PROBLEM 13.4B (continued) PAGE POST. REF. 1 1 2 2013 (Adjustment g) 2 3 Dec. 31 Depreciation Expense—Store Fixtures 205000 3 4 Accumulated Depreciation—Store Fixtures 205000 4 13 13 14 (Adjustment i) 14 15 31 Salaries Expense 145000 15 16 […]
978-0078025273 Chapter 13 Solution Manual Part 2
PROBLEM 13.3A (continued) Vincent Arroyo, Capital, January 1, 2013 32,700.00 Current Assets Cash 28,386.00 Accounts Receivable 500.00 Prepaid Advertising 320.00 Supplies 100.00 Merchandise Inventory 12,000.00 Total Current Assets 41,306.00 Plant and Equipment: Store Equipment 25,000.00 Less Accumulated Depreciation 6,125.00 18,875.00 […]
978-0078025273 Chapter 13 Solution Manual Part 1
• Whole Foods operates 284 stores with an average store size of 37,000 square feet. • The stores feature over 30,000 natural and organic items. • To underscore the company’s focus on health, it recently created a new Core Company […]
978-0078025273 Chapter 13 Excel
Student Name: Class: 1,665,884 17,200 1,648,684 234,000 757,000 12,800 769,800 7,440 10,160 17,600 752,200 986,200 224,000 762,200 886,484 189,600 6,100 4,800 200,500 259,200 20,500 59,330 8,800 347,830 69,600 3,000 5,200 8,290 5,520 54,000 4,600 4,800 8,000 3,000 166,010 714,340 172,144 […]
978-0078025273 Chapter 12 Solution Manual Part 3
PROBLEM 12.5B (continued) 1 307 1 2 7 93 311 5 4 7 93 249 9 3 7 93 254 4 0 0 00 57 1 9 0 00 57 1 4 7 93 1 ADJUSTED TRIAL BALANCE INCOME STATEMENT […]
978-0078025273 Chapter 12 Solution Manual Part 2
PROBLEM 12.6A (continued) 28 3 8 6 00 28 3 8 6 00 1 50000 50 000 2 3 1 00 3 1 00 13 7 25 7 25 14 400000 40 0 000 15 1 0 0 00 1 […]
978-0078025273 Chapter 12 Solution Manual Part 1
• Urban Outfitters achieved compounded annual sales growth of approximately 19% from 2005 to 2010, with sales of approximately $1.9 billion in fiscal 2010. • The first Urban Outfitters store opened 1970 near the University of Pennsylvania campus in Philadelphia. […]
978-0078025273 Chapter 12 Excel
Student Name: Class: Account Name Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit 25,010.00 25,010.00 1,340.00 1,340.00 860.00 a 280.00 580.00 9,000.00 b 1,500.00 7,500.00 1,620.00 c 135.00 1,485.00 360.00 d 90.00 270.00 12,050.00 12,050.00 e 125.00 125.00 […]
978-0078025273 Chapter 11 Solution Manual Part 2
PROBLEM 11.1B (continued) PAGE POST. REF. 1 2013 1 2 April 8 Payroll Taxes Expense 42600 2 GENERAL JOURNAL 28 DATE DESCRIPTION DEBIT CREDIT 408 Chapter 11 Copyright © 2012 The McGraw-Hill Companies, Inc. All rights reserved. 3 Social […]
978-0078025273 Chapter 11 Solution Manual Part 1
•New Castle Hotels and Resorts has been in business over 25 years. •New Castle’s management services group has engineered the financial turnaround of over 60 hotels. •New Castle Hotels & Resorts’ 32-hotel portfolio of both owned and managed hotels, includes […]
978-0078025273 Chapter 11 Excel
Student Name: Class: Earnings for period: $3,500.00 TAX BASE RATE AMOUNT 3,500.00$ 6.20% 217.00$ 3,500.00 1.45% 50.75 3,500.00 0.80% 28.00 3,500.00 5.40% 189.00 Total 484.75$ Correct! Post Description Ref Debit Credit 2013 July 14 484.75 217.00 50.75 28.00 189.00 Correct! […]
978-0078025273 Chapter 10 Solution Manual Part 2
PROBLEM 10.1B 1. HOURS WORKED 48 Gross Pay $660.40 Less: Social Security Tax 40.94 2. POST. REF. 1 2013 1 2 Dec. 31 Salaries Payable 31488 2 3 Cash 3 1 4 88 3 4 Issued check for weekly payroll […]
978-0078025273 Chapter 10 Solution Manual Part 1
• In 1990, Gary Erickson lived in a garage with his dog. • In 2000, Clif Bar was nearly sold to Quaker Oats for $120 million—Erickson backed out of the deal when he experienced panic attacks about the sale. The […]
978-0078025273 Chapter 10 Excel
Student Name: Class: Regular Hours Hours Regular Time Overtime Gross Employee No. Hourly Rate Worked Earnings Earnings Earnings 12.84$ 48 513.60$ 154.08$ 667.68$ 667.68$ 41.40 9.68 36.00 151.00 18.00 100.00 311.60$ Correct! Post Description Ref Debit Credit 2013 Dec. 31 […]
978-1118582558 Chapter 9 Part 2
P9–2 a. 1/1/14 Relative Purchase Cost Asset FMV FMV Price = Allocation Building $ 300,000 300/1,200 $1,000,000 $ 250,000 Office equip. 150,000 150/1,200 1,000,000 125,000 b. Depreciation Expense—Building (E, –SE) ………………………………………….. 8,750a Depreciation Expense—Office Equipment (E, –SE) …………………………..… 30,000b […]
978-1118582558 Chapter 9 Part 1
1 CHAPTER 9 LONG-LIVED ASSETS BRIEF EXERCISES BE9–1 a. The new method, straight-line depreciation, will increase net income in the early years and reduce income in the later years versus using an accelerated method. An accelerated method of depreciation increases […]
978-1118582558 Chapter 8 Part 2
P8–5 a. 6/15/14 Trading Securities (+A) …………………………………………………. 7,500 Cash (–A) ……………………………………………………………… 7,500 12/31/14 Trading Securities (+A) …………………………………………………. 1,500 Unrealized Price Increase (Ga, +SE) …………………………. 1,500 Trading Securities (–A) …………………………………………… 3,600 b. The entries would remain the same except the following: […]
978-1118582558 Chapter 8 Part 1
CHAPTER 8 INVESTMENTS IN EQUITY SECURITIES BRIEF EXERCISES BE8–1 a. Comprehensive income includes all non-owner changes in shareholder equity that do not already appear on the income statement. For example, the change in value of assets that have been sold […]
978-1118582558 Chapter 7 Part 2
For the Year Ended December 31, 20XX FIFO Averaging LIFO Sales $ 55,000 $ 55,000 $ 55,000 Cost of goods sold 38,900 36,891 34,900 P7–5 a. Cost of Goods Available for Sale = Cost of Goods in Beginning Inventory + […]
978-1118582558 Chapter 7 Part 1
1 CHAPTER 7 MERCHANDISE INVENTORY BRIEF EXERCISES BE7–1 The inventory purchases made by Hewlett-Packard during 2012 can be calculated as follows: Beginning inventory $ 7.5 billion BE7–2 a. From the footnote it is apparent that Johnson & Johnson is a […]
978-1118582558 Chapter 6 Part 2
P6–9 a. 2011 2012 2013 2014 2015 Current Method Bad debt charge $ 10,000 $ 50,000 $ 20,000 $ 80,000 $ 90,000 Accounts rec. Accounts Receivable less the balance in Allowance for Doubtful Accounts. b. Current Method Allowance Method Total […]
978-1118582558 Chapter 6 Part 1
1 CHAPTER 6 THE CURRENT ASSET CLASSIFICATION, CASH, AND ACCOUNTS RECEIVABLE BRIEF EXERCISES BE6–1 a. Total Accounts Receivable = Net Receivables + Allowance for Uncollectibles 2012 Total Accounts Receivable = $4,983 + $109 2012 Total Accounts Receivable = $5,092 b. […]
978-1118582558 Chapter 5 Part 3
37 P5–12 Continued Alternative 2 EPS: $7,050,000 ÷ 2,000,000 shares = $3.53 ROE: $7,050,000 ÷ ($45,000,000 + $7,050,000) = .1354 Alternative 3 EPS: $7,275,000 ÷ (2,000,000 shares + 100,000 shares) = $3.46 ROE: $7,275,000 ÷ ($45,000,000 + $2,500,000* + $7,275,000) […]
978-1118582558 Chapter 5 Part 2
21 industry averages, it is difficult to conclude whether the company is really effective in managing the owners‘ capital. 22 P5–4 Continued (2) Return on equity measures a company’s effectiveness at managing owners’ investments, while return on assets measures a […]
978-1118582558 Chapter 5 Part 1
1 CHAPTER 5 USING FINANCIAL STATEMENT INFORMATION BRIEF EXERCISE BE5–1 Coke Pepsi (a) ROE = Net Income/Average Stockholders’ Equity 27.7% 28.5% ROA = (Net Income +[Interest Expense (1-Tax Rate)])/ Average Total Assets 11.2% 9.3% Common Equity Leverage = Net Income/(Net […]
978-1118582558 Chapter 4 Part 4
P4–17 Continued e. Closing entries are posted to the T–accounts in Part (a). (A) Sales ………………………………………………………………………………. 1,700,000 Interest Revenue …………………………………………………………….. 1,620 Gain on Sale of Investment ……………………………………………….. 7,000 Depreciation Expense—Machinery ……………………………….. 47,500 Closed revenues and expenses into Income Summary. (B) […]
978-1118582558 Chapter 4 Part 3
Purchased Supplies. (5) Accounts Payable (–L)……………………………………………………….. 3 (6) Interest Payable (–L) …………………………………………………………. 3 Cash (–A)…………………………………………………………………….. 3 Paid interest accrued in previous period. (7) Cash (+A) …………………………………………………………………………. 9 Accounts Receivable (+A) ………………………………………………….. 9 Sales (R, +SE)……………………………………………………………….. 18 Rendered services. (8) Long-term […]
978-1118582558 Chapter 4 Part 2
associated with operating activities. Similarly, the company will recognize expenses when it has an outflow of assets or an inflow of liabilities associated with operating activities. E4–16 Concluded Consider the revenues being generated when the company is entitled to cash. […]
978-1118582558 Chapter 4 Part 1
122 Chapter 4 CHAPTER 4 THE MECHANICS OF FINANCIAL ACCOUNTING BRIEF EXERCISES BE4–1 Transaction Assets = Liabilities + Stockholders’ Equity Paid $11,027 to purchase + 11,027 property, plant and equip. – 11,027 b. The transaction to purchase property, plant and […]
978-1118582558 Chapter 3 Part 2
14 P3–8 a. Book value on 12/31/14 = Total book value of assets – Total value of liabilities = $124,000 – ($8,000 + $20,000) = $96,000 b. The economic value of Myers and Myers equals its future cash flows discounted […]
978-1118582558 Chapter 3 Part 1
CHAPTER 3 THE MEASUREMENT FUNDAMENTALS OF FINANCIAL ACCOUNTING BRIEF EXERCISE BE3–1 1. Fiscal period 6. Materiality 2. Economic entity 7. Matching 3. Conservatism 8. Objectivity 4. Consistency 9. Objectivity 5. Revenue recognition 10. Stable dollar EXERCISES E3–1 At the beginning […]
978-1118582558 Chapter 2 Part 2
P2–4 Johnson Company Balance Sheet December 31, 2014 Assets Current assets: Total current assets ………………………………………………………… $331,600 Property, plant, & equipment: Buildings ……………………………………………………………………………… $ 35,000 Less: Accumulated depreciation …………………………………………….. 8,000 Total property, plant, & equipment ………………………………….. 27,000 Total assets ………………………………………………………………………………. $358,600 […]
978-1118582558 Chapter 2 Part 1
CHAPTER 2 THE FINANCIAL STATEMENTS BRIEF EXERCISES BE2–1 2012 2012 2012 Beginning Ending Retained 2012 2012 2012 Retained Earnings + Revenues – Expenses – Dividends = Earnings $40.3 + $65.5 – $59.3 – X = $43.2 X = $3.3 2012 […]