Archives: Solution Manual
978-0078025600 Chapter 6 Lecture Note
Chapter 06 – Cash and Internal Controls Chapter 06 Cash and Internal Controls © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not […]
978-0078025600 Chapter 6 Excel
Student Name: Class: 27,233$ 27,497$ 11,514 7,955 38,747 35,452 1,482$ NSF check 805$ 382 Service charge 25 2,281 4,145 Error (Check no. 3056) 20 850 34,602$ «- Correct! Adjusted book balance 34,602$ «- Correct! Date Account Title Debit Credit Jul […]
978-0078025600 Chapter 5 Solution Manual Part 5
Financial & Managerial Accounting, 5th Edition 364 Serial Problem — SP 5, Success Systems (concluded) 2. Per Unit Total Total LCM Applied Inventory Items Units Cost Market Cost Market To Items Office productivity …….. 3 $ 76 $ 74 $228 […]
978-0078025600 Chapter 5 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 350 Problem 5-2B (40 minutes) 1. Compute cost of goods available for sale and units available for sale Beginning inventory ……………………… 20 units @ $3,000 $ 60,000 April 6 ………………………………………….. 30 units @ $3,500 […]
978-0078025600 Chapter 5 Solution Manual Part 3
Problem 5-3A (Continued) 3d. Specific Identification Cost of goods available for sale ………………. $77,200 Less: Cost of Goods Sold 600 @ $45.00 ………………………………. $27,000 300 @ $42.00 ………………………………. 12,600 200 @ $27.00 ………………………………. 5,400 50 @ $50.00 ………………………………. 2,500 250 […]
978-0078025600 Chapter 5 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 320 Exercise 5-7 (Concluded) Alternate Solution Format Ending Cost of Inventory Goods Sold a. FIFO (100 x $25) + (120 x $20) ………………………………………………… $4,900 (150 x $10) + (50 x $10) + (250 x […]
978-0078025600 Chapter 5 Solution Manual Part 1
Chapter 5 Inventories and Cost of Sales QUESTIONS 1. (a) FIFO: The cost of the first (earliest) items purchased in inventory flow to cost of goods sold first. (b) LIFO: The cost of the last (most recent) items purchased in […]
978-0078025600 Chapter 5 Lecture Note Part 2
Chapter 05 – Inventories and Cost of Sales Chapter Outline Notes 1. Subtract sales (general ledger amount) from goods available measured at retail price (retail data in supplementary records) to get ending inventory at retail. 2. Find cost ratio by […]
978-0078025600 Chapter 5 Lecture Note Part 1
Chapter 05 – Inventories and Cost of Sales Chapter 05 Inventories and Cost of Sales Student Learning Objectives and Related Assignment Materials* Student Learning Objectives Discussion Questions Quick Studies Exercises Problems (A &B set)** Beyond the Numbers Conceptual objectives: C1. […]
978-0078025600 Chapter 5 Excel
Student Name: Class: 2012 2013 2014 615,000$ 957,000$ 780,000$ (56,000) 56,000 20,000 (20,000) 559,000$ 1,033,000$ 760,000$ Correct! Correct! Correct! 2012 2013 2014 230,000$ 285,000$ 241,000$ 56,000 (56,000) (20,000) 20,000 286,000$ 209,000$ 261,000$ Correct! Correct! Correct! 2012 2013 2014 1,255,000$ 1,365,000$ […]
978-0078025600 Chapter 4 Solution Manual Part 5
Financial & Managerial Accounting, 5th Edition 290 Serial Problem — SP 4 (Continued) Common Stock Acct. No. 307 Date Explanation PR Debit Credit Balance Dec. 31 Balance 83,000 Jan. 5 25,000 108,000 Retained Earnings Acct. No. 318 Date Explanation PR […]
978-0078025600 Chapter 4 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 276 Problem 4-3B (Continued) Part 2 Multiple-step income statement FOSTER PRODUCTS COMPANY Income Statement For Year Ended October 31, 2013 Sales ………………………………………………………………. $227,100 Less: Sales discounts …………………………………….. $ 1,000 Sales returns and allowances ………………… […]
978-0078025600 Chapter 4 Solution Manual Part 3
Problem 4-2A (Concluded) Aug. 15 Cash ………………………………………………………….. 4,508 Sales Discounts* ……………………………………….. 92 Accounts Receivable—Laird ……………….. 4,600 Collected receivable within 2% discount period. *[($5,200 – $600) x 2%] 18 Accounts Payable—Waters ………………………… 4,840 Merchandise Inventory * ……………………… 47 Cash …………………………………………………… 4,793 […]
978-0078025600 Chapter 4 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 246 Exercise 4-7 (25 minutes) 1. Entries for Sydney Company (BUYER): May 11 Merchandise Inventory ……………………………. 40,000 Accounts Payable ……………………………… 40,000 Purchased merchandise on credit. 11 Merchandise Inventory ……………………………. 345 Cash …………………………………………………. 345 Paid […]
978-0078025600 Chapter 4 Solution Manual Part 1
Chapter 4 Accounting for Merchandising Operations QUESTIONS 1. Merchandising companies report Merchandise Inventory on the balance sheet, service companies do not. Also, merchandising companies report both Sales (of goods) and Cost of Goods Sold on the income statement, while service […]
978-0078025600 Chapter 4 Lecture Note
Chapter 04 Accounting for Merchandising Operations Chapter 04 Accounting for Merchandising Operations © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be […]
978-0078025600 Chapter 4 Excel
Student Name: Class: Trans. Date Account Titles no. Debit Credit Jan. 31 4,050 4,050 «- Correct! 31 1,400 1,400 «- Correct! 31 1,525 1,525 «- Correct! 31 1,600 1,600 «- Correct! To adjust inventory for shrinkage. To record depreciation expense. […]
978-0078025600 Chapter 3 Solution Manual Part 8
Reporting in Action — BTN 3-1 (Concluded) 6. The balance of Income Summary before it is closed as of December 31, 2011, equals the net income for Polaris of $227,575 ($ thousands). This can also be computed from taking $2,681,730 […]
978-0078025600 Chapter 3 Solution Manual Part 7
Serial Problem, SP 3 (Continued) Part 7 Closing entries 2013 Dec. 31 Computer Services Revenue …………………….. 403 31,284 Income Summary ……………………………….. 901 31,284 To close the revenue account. 31 Income Summary ……………………………………… 901 17,036 Depreciation Exp–Office Equipment ……. 612 400 […]
978-0078025600 Chapter 3 Solution Manual Part 6
Problem 3-7B (Continued) Part 4 SAFE STORAGE CO. Adjusted Trial Balance July 31, 2013 No. Account Title Debit Credit 101 Cash …………………………………………………………… $ 22,850 106 Accounts receivable …………………………………… 1,150 124 Office supplies ……………………………………………. 1,525 128 Prepaid insurance ………………………………………. 6,800 173 […]
978-0078025600 Chapter 3 Solution Manual Part 5
Problem 3-3B (90 minutes) Parts 1 and 2 Cash Accounts Payable Bal. 60,000 Bal. 11,200 Accounts Receivable Salaries Payable Unadj. Bal. 0 Unadj. Bal. 0 (f) 5,750 (g) 450 Adj. Bal. 5,750 Adj. Bal. 450 Teaching Supplies Unearned Training Fees […]
978-0078025600 Chapter 3 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 170 Problem 3-7A (90 minutes) INSTRUCTOR NOTE: Ledger accounts are shown after Part 7 as they would appear after all entries are posted. Part 2 — Transactions for April April 1 Cash ……………………………………………………… 101 […]
978-0078025600 Chapter 3 Solution Manual Part 3
Exercise 3-16 (10 minutes) Dec. 31 Net Sales ………………………………………………. 1,014,345 Income Summary ……………………………. 1,014,345 To close the revenue account. 31 Income Summary ………………………………….. 936,724 Cost of Sales ………………………………….. 626,379 Advertising Expense ………………………. 96,359 Other Expense, Net …………………………. 213,986 To close […]
978-0078025600 Chapter 3 Solution Manual Part 2
EXERCISES Exercise 3-1 (25 minutes) a. Depreciation Expense—Equipment ………………………….. 18,000 Accumulated Depreciation—Equipment ………………… 18,000 To record depreciation expense for the year. b. Insurance Expense ………………………………………………….. 4,900 Prepaid Insurance* ………………………………………………. 4,900 To record insurance coverage that expired ($6,000 – $1,100). c. […]
978-0078025600 Chapter 3 Solution Manual Part 1
Chapter 3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid […]
978-0078025600 Chapter 3 Lecture Note Part 2
Chapter 03 – Adjusting Accounts and Preparing Financial Statements VISUAL #3-1 ACCRUAL BASIS ACCOUNTING (Follows GAAP) requires that the Income Statement (for a period) reports ALL REVENUES EARNED in period (Collected or Not) Minus ALL EXPENSES INCURRED in period (Paid […]
978-0078025600 Chapter 3 Lecture Note Part 1
Chapter 03 – Adjusting Accounts and Preparing Financial Statements Chapter 03 Adjusting Accounts and Preparing Financial statements Student Learning Objectives and Related Assignment Materials* Student Learning Objectives Discussion Questions Quick Studies Exercises Problems (A &B set)** Beyond the Numbers Conceptual […]
978-0078025600 Chapter 3 Excel Part 2
Unadjusted Adjusted Trial Balance Adjustments Trial Balance 34,000$ 34,000$ 14,000 22,000 16,000 2,000 8,540 2,960 84,000 84,000 14,000$ 20,000$ 9,100 10,000 – 1,000 – 7,000 18,000 15,000 52,000 52,000 15,000 15,000 25,000 25,000 5,000 5,000 123,240 134,240 – 6,000 67,000 […]
978-0078025600 Chapter 3 Excel Part 1
Student Name: Class: Parts 1 and 2 Unadj. Bal. 34,000 Unadj. Bal. 80,000 Bal. 34,000 Bal. 80,000 Correct! Correct! Unadj. Bal. 0 Unadj. Bal. 15,000 (f) 7,500 ( c) 13,200 Adj. Bal. 7,500 Adj. Bal. 28,200 Correct! Correct! Unadj. Bal. […]
978-0078025600 Chapter 24 Solution Manual Part 3
Problem 24-3B (Continued) Part 3 NET PRESENT VALUE OF ASSET USING STRAIGHT-LINE DEPRECIATION Present Present Net Cash Value of Value of Net Flows 1 at 10% Cash Flows Year 1 ………………………………………………….. $ 8,400 0.9091 $ 7,636 Year 2 ………………………………………………….. 9,600 […]
978-0078025600 Chapter 24 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 1354 Payback Period = = 2.29 years $350,000 $153,067 Problem 24-2A (55 minutes) Part 1 PROJECT Y Net income ……………………………………………………………………………… $ 56,000 Depreciation expense* ……………………………………………………………. 87,500 Net cash flow ………………………………………………………………………….. $143,500 *Annual depreciation = […]
978-0078025600 Chapter 24 Solution Manual Part 1
Chapter 24 Capital Budgeting and Investment Analysis QUESTIONS 1. Capital budgeting decisions require careful analysis because they are generally the most difficult and risky decisions that management faces. 2. Capital budgeting is the process of planning the acquisition or sale […]
978-0078025600 Chapter 24 Lecture Note
Chapter 24 Capital Budgeting and Investment Analysis Chapter 24 Capital Budgeting and Investment Analysis © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may […]
978-0078025600 Chapter 24 Excel
Student Name: Class: 115,000$ Correct! Net Net Cash Income Flow 1,840,000$ 1,840,000$ (480,000) (480,000) (672,000) (672,000) (336,000) (336,000) (115,000) (160,000) (160,000) 77,000 (23,100) (23,100) 53,900$ Correct! 168,900$ Correct! 2.84 years Correct! Part 3 Payback period Part 4 Accounting rate of […]
978-0078025600 Chapter 23 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 1330 Reporting in Action — BTN 23-1 1. $ millions Off-road Snow On–road Revenues ……………………………………….…… $1,823 $280 $146 Operating expenses………………………..… 1,586 294 140 Operating income ………………………….. $ 237 $ (14) $ 6 2. If […]
978-0078025600 Chapter 23 Solution Manual Part 3
Problem 23-3B (30 minutes) Part 1 INCREMENTAL COST OF MAKING TH1 Variable costs: Direct materials (400,000 units x $1.20 per unit) ………………………….. $ 480,000 Direct labor (400,000 units x $1.50 per unit) ………………………….. 600,000 Variable overhead (2,400,000* x 25%) …………………………………..………… […]
978-0078025600 Chapter 23 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 1306 Exercise 23-12 (continued) SALES MIX RECOMMENDATION: These results suggest the company should manufacture as many units of Product TLX as it can produce and sell until reaching a (market or production) constraint. Thereafter, […]
978-0078025600 Chapter 23 Lecture Note
Chapter 23 Relevant Costing for Managerial Decisions Chapter 23 Relevant Costing for Managerial Decisions © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may […]
978-0078025600 Chapter 23 Excel
Student Name: Class: Normal New Volume Business Combined 2,400,000$ 260,000$ 2,660,000$ 576,000 72,000 648,000 144,000 27,000 171,000 320,000 30,000 350,000 150,000 150,000 100,000 5,000 105,000 1,290,000 134,000 1,424,000 Total costs and expenses 1,110,000$ 126,000$ 1,236,000$ Correct! Correct! Correct! 576,000$ 400,000 […]
978-0078025600 Chapter 22 Solution Manual Part 4
Problem 22-5B (60 minutes) Part 1 Process time …………………………………………………………………… 16.0 hours Inspection time ……………………………………………………………..… 3.5 hours Move time ……………………………………………………………………..… 9.0 hours Wait time ………………………………………………………………………… 21.5 hours Manufacturing cycle time ………………………………………………… 50.0 hours Part 2 Manufacturing cycle efficiency (16.0 hours/ 50.0 […]
978-0078025600 Chapter 22 Solution Manual Part 3
Problem 22–4AB (Continued) Part 2 GEORGIA ORCHARDS Income Statement For Year Ended December 31, 2013 No. 1 No. 2 No. 3 Combined Sales (by grade) No. 1: 300,000 lbs. @ $1.50 …….….. $450,000 No. 2: 300,000 lbs. @ $1.00 …….….. […]
978-0078025600 Chapter 22 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 1258 Exercise 22-5 (25 minutes) COZY BOOKSTORE Departmental Expense Allocation Spreadsheet For Period Ended _______ Allocation of Expenses to Departments . Alloca- tion Base Exp. Account Balance Adver- tising Dept. Purch- asing Dept. Books […]
978-0078025600 Chapter 22 Solution Manual Part 1
Chapter 22 Performance Measurement and Responsibility Accounting QUESTIONS 1. Many companies are divided into departments when they become too large to be effectively managed as single units. This division into departments is often needed so that the responsibilities for the […]
978-0078025600 Chapter 22 Lecture Note
Chapter 22 Decentralization and Performance Evaluation Chapter 22 Decentralization and Performance Evaluation © 2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be […]
978-0078025600 Chapter 22 Excel
Student Name: Class: Square Footage Rate Total 1,000 8.25$ 8,250$ «- Correct! 1,800 8.25 14,850$ «- Correct! Value- Usage Total Based Based Costs Costs Costs 18,000$ 18,000$ 27,000 27,000 9,000 9,000 3,000 3,000$ 3,000 3,000 6,000 6,000 66,000$ 54,000$ 12,000$ […]
978-0078025600 Chapter 21 Solution Manual Part 5
Problem 21–6BA (Continued) Part 3 Overhead Variances (a) Variable overhead Preliminary computations Actual variable overhead (given): Indirect materials ……………………………………………….. $10,000 Indirect labor …………………………………………………….. 16,000 Power …………………………………………………………..….. 4,500 Maintenance ………………………………………………….….. 3,000 Total …………………………………………………………….….. $33,500 Actual hours: 37,600 (given) Standard hours: 36,000 […]
978-0078025600 Chapter 21 Solution Manual Part 4
Financial & Managerial Accounting, 5th Edition 1218 $50,000 F (Spending variance) $10,000 F (Efficiency variance) $60,000 F (Total variable overhead variance) (b) Fixed Overhead Spending and Volume Variances Actual Overhead Budgeted Overhead Applied Overhead 252,000 x $7 $1,960,000 $2,016,000 $1,764,000 […]
978-0078025600 Chapter 21 Solution Manual Part 3
Problem 21-4A (45 minutes) Part 1 PHOENIX COMPANY Flexible Budget Performance Report For Year Ended December 31, 2013 Flexible Actual Budget Results Variances* Sales (18,000 units) …………………….. $3,600,000 $3,648,000 $48,000 F Variable costs Direct materials ………………………… 1,170,000 1,185,000 15,000 U […]
978-0078025600 Chapter 21 Solution Manual Part 2
Financial & Managerial Accounting, 5th Edition 1188 Exercise 21-6 (20 minutes) 1. Predetermined overhead rate computations Expected volume ……………………………………………………………. 75% Expected total overhead …………………………………………………. $2,100,000 Expected hours ……………………………………………………………… 375,000 hrs. Variable cost per hour ($1,500,000/ 375,000) ……………………. $4.00 Fixed cost […]
978-0078025600 Chapter 21 Solution Manual Part 1
Chapter 21 Flexible Budgets and Standard Costing QUESTIONS 1. Fixed budget performance reports have limited usefulness because they do not reflect differences in revenues and variable costs that can occur simply because actual volume is different from budgeted volume. This […]