Archives: Solution Manual
978-1118334324 Chapter 11 Solution Manual Part 2
SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 11-1 The advantages and disadvantages of a corporation are as follows: Advantages Disadvantages Separate legal existence Limited liability of stockholders Transferable ownership rights Ability to acquire capital Continuous life Corporation management— professional managers Corporation […]
978-1118334324 Chapter 11 Solution Manual Part 1
CHAPTER 11 Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions Brief Exercises Do It! Exercises A Problems B Problems *1. Identify the major characteristics of a corporation. 1, 2, 3, 4, 5, 6 1 […]
978-1118334324 Chapter 11 Lecture Note Part 3
*S. Stockholders’ Equity Statement. 1. A stockholders’ equity statement shows the changes in each stock– holders’ equity account and in total stockholders’ equity during the year. 2. When this statement is presented, a retained earnings statement is not necessary because […]
978-1118334324 Chapter 11 Lecture Note Part 2
INVESTOR INSIGHT Shares in excess of a billion are often traded daily on the New York Stock Exchange. For each listed security, the financial press reports the total volume of stock traded for a given day, the high and low […]
978-1118334324 Chapter 11 Lecture Note Part 1
CHAPTER 11 Corporations: Organization, Stock Transactions, Dividends, and Retained Earnings LEARNING OBJECTIVES 1. IDENTIFY THE MAJOR CHARACTERISTICS OF A CORPORATION. 2. RECORD THE ISSUANCE OF COMMON STOCK. 3. EXPLAIN THE ACCOUNTING FOR TREASURY STOCK. 4. DIFFERENTIATE PREFERRED STOCK FROM COM- […]
978-1118334324 Chapter 10 Solution Manual Part 8
BYP 10-5 (Continued) 1. The cash flow of the company as it relates to bonds payable will be adversely affected as follows: Annual interest payments on the new issue ($2,000,000 X .11) ……………………………………………….. $220,000 Annual interest payments on the 5-year […]
978-1118334324 Chapter 10 Solution Manual Part 7
COMPREHENSIVE PROBLEM SOLUTION (Continued) (a) and (b) Optional T accounts Cash Bal. 30,500 481,500 93,600 2,500 230,000 2,500 12,000 24,000 91,000 2,500 47,000 Bal. 194,100 Inventory Bal. 25,750 241,100 250,000 Bal. 16,850 Prepaid Insurance Bal. 5,600 12,000 5,600 5,000 Bal. […]
978-1118334324 Chapter 10 Solution Manual Part 6
*PROBLEM 10-6B (a) (1) 2015 July 1 Cash ……………………………………… 4,543,627 Bonds Payable ………………… 4,000,000 Premium on Bonds Payable ……………………. 543,627 (2) Dec. 31 Interest Expense ($4,543,627 X 4%) …………….. 181,745 Premium on Bonds Payable ……. 18,255 Interest Payable ($4,000,000 X […]
978-1118334324 Chapter 10 Solution Manual Part 5
*PROBLEM 10-7A (Continued) (c) Dear : Thank you for asking me to clarify some points about the bonds issued by Kellerman Company. (1) The amount of interest expense reported for 2016 related to these bonds is $440,563 ($219,787 + $220,776). […]
978-1118334324 Chapter 10 Solution Manual Part 4
*EXERCISE 10-20 (a) Jan. 1 Cash ($600,000 X 103%) …………………… 618,000 Premium on Bonds Payable ………. 18,000 Bonds Payable …………………………. 600,000 (b) July 1 Interest Expense ……………………………… 26,550 Premium on Bonds Payable ($18,000 X 1/40) …………………………. 450 Cash ($600,000 X […]
978-1118334324 Chapter 10 Solution Manual Part 3
EXERCISE 10-4 (a) Nov. 30 Cash …………………………………………………. 300,000 Unearned Subscription Revenue (15,000 X $20) ………………………….. 300,000 (b) Dec. 31 Unearned Subscription Revenue ………… 25,000 Subscription Revenue ($300,000 X 1/12) ……………………… 25,000 (c) Mar. 31 Unearned Subscription Revenue …………. 75,000 Subscription […]
978-1118334324 Chapter 10 Solution Manual Part 2
SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE 10-1 (a) A note payable due in two years is a long-term liability, not a current liability. (b) $30,000 of the mortgage payable is a current maturity of long–term debt. This amount should be […]
978-1118334324 Chapter 10 Solution Manual Part 1
CHAPTER 10 Liabilities ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions Brief Exercises Do It! Exercises A Problems B Problems * 1. Explain a current liability, and identify the major types of current liabilities. 1 1 1A 1B * 2. Describe the […]
978-1118334324 Chapter 10 Lecture Note Part 3
Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Instructor’s Manual (For Instructor Use Only) 10–17 2. Bond interest expense is computed by adding (subtracting) the bond discount (premium) amortization per period to (from) the interest to […]
978-1118334324 Chapter 10 Lecture Note Part 2
2. Issuing procedures. a. In authorizing the bond issue, the board of directors must stipulate the number of bonds to be authorized, total face value, and con– tractual interest rate. b. The terms of the bond issue are set forth […]
978-1118334324 Chapter 10 Lecture Note Part 1
CHAPTER 10 LIABILITIES LEARNING OBJECTIVES 1. EXPLAIN A CURRENT LIABILITY, AND IDENTIFY THE MAJOR TYPES OF CURRENT LIABILITIES. 2. DESCRIBE THE ACCOUNTING FOR NOTES PAYABLE. 3. EXPLAIN THE ACCOUNTING FOR OTHER CURRENT LIABILITIES. 4. EXPLAIN WHY BONDS ARE ISSUED, AND […]
978-1118334324 Chapter 1 Solution Manual Part 6
BYP 1-6 COMMUNICATION ACTIVITY To: Ashley Hirano From: Student I have received the balance sheet of New York Company as of December 31, 2015. A number of items in this balance sheet are not properly reported. They are: 1. The […]
978-1118334324 Chapter 1 Solution Manual Part 5
Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only) 1-41 (a) RODD CONSULTING Assets Liabilities Stockholders’ Equity Date Cash + Accounts Receivable + Supplies + Equipment = Notes Payable + Accounts […]
978-1118334324 Chapter 1 Solution Manual Part 4
Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only) 1-31 (a) TERCEK DELIVERIES Assets Liabilities Stockholders’ Equity Date Cash + Accounts Receivable + Supplies + Equipment = Notes Payable + Accounts […]
978-1118334324 Chapter 1 Solution Manual Part 3
EXERCISE 1-13 MADISON COMPANY Balance Sheet December 31, 2015 Assets Cash ……………………………………………………………………… $14,000 Accounts receivable ………………………………………………. 8,500 Supplies ………………………………………………………………… 3,000 Equipment……………………………………………………………… 48,000 Total assets …………………………………………………….. $73,500 Liabilities and Stockholders’ Equity Liabilities Accounts payable ……………………………………………. $15,000 Stockholders’ equity Common stock ………………………………………………… […]
978-1118334324 Chapter 1 Solution Manual Part 2
BRIEF EXERCISE 1-10 ELLERBY COMPANY Balance Sheet December 31, 2015 Assets Cash ………………………………………………………………………………….. $ 44,000 Accounts receivable …………………………………………………………… 72,500 Total assets …………………………………………………………………. $116,500 Liabilities and Stockholders’ Equity Liabilities Accounts payable ………………………………………………………… $ 85,000 Stockholders’ equity Common stock …………………………………………………………….. 31,500 Total […]
978-1118334324 Chapter 1 Solution Manual Part 1
CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions Brief Exercises Do It! Exercises A Problems B Problems 1. Explain what accounting is. 1, 2, 5 1 1 2. Identify the users and uses of accounting. 3, 4 […]
978-1118334324 Chapter 1 Lecture Note Part 2
F. The Basic Accounting Equation. 1. Assets = Liabilities + Owner’s Equity. 2. Equality of the equation must be preserved. 3. The expanded accounting equation is: Assets = Liabilities + Owner’s Capital – Owner’s Drawings + Revenues – Expenses. G. […]
978-1118334324 Chapter 1 Lecture Note Part 1
CHAPTER 1 ACCOUNTING IN ACTION LEARNING OBJECTIVES 1. EXPLAIN WHAT ACCOUNTING IS. 2. IDENTIFY THE USERS AND USES OF ACCOUNTING. 3. UNDERSTAND WHY ETHICS IS A FUNDAMENTAL BUSI- NESS CONCEPT. 4. EXPLAIN GENERALLY ACCEPTED ACCOUNTING PRIN– CIPLES. 5. EXPLAIN THE […]
978-1118334324 Appendix J Solution Manual Part 2
PROBLEM J-2A (a) Carson Enterprises should record the Logan Co. lease as a capital lease because the lease term is greater than 75% of the estimated economic life of the second property. Both the Porter Inc. and Schell Inc. leases […]
978-1118334324 Appendix J Solution Manual Part 1
APPENDIX J Other Significant Liabilities ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions Brief Exercises Do It! Exercises A Problems B Problems 1. Describe the accounting and disclosure requirements for contingent liabilities. 1, 2 1 1, 2 1A 1B 2. Contrast the […]
978-1118334324 Appendix J Lecture Note
APPENDIX J Other Significant Liabilities LEARNING OBJECTIVES 1. DESCRIBE THE ACCOUNTING AND DISCLOSURE REQUIREMENTS FOR CONTINGENT LIABILITIES. 2. CONTRAST THE ACCOUNTING FOR OPERATING AND CAPITAL LEASES. 3. IDENTIFY ADDITIONAL FRINGE BENEFITS ASSOCI– ATED WITH EMPLOYEE COMPENSATION. Copyright © 2014 John […]
978-1118334324 Appendix I Solution Manual Part 10
BYP I-1 (Continued) (d) BRYANT CO. Income Statement For the Month Ended January 31, 2014 Sales revenues Sales ……………………………………….. $75,300 Less: Sales discounts………………. $ 90 Sales returns and allowances ……………………… 400 490 Net sales revenue ……………………… 74,810 Cost of goods […]
978-1118334324 Appendix I Solution Manual Part 9
Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only) I-81 BYP I-1 (Continued) Notes Receivable No. 115 Date Explanation Ref. Debit Credit Balance Jan. 1 Balance 39,000 Inventory No. 120 […]
978-1118334324 Appendix I Solution Manual Part 8
Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only) I-71 COMPREHENSIVE PROBLEM (Continued) W. Rayms Date Explanation Ref. Debit Credit Balance Jan. 3 13 22 S1 CR1 S1 3,600 3,700 3,600 […]
978-1118334324 Appendix I Solution Manual Part 7
Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only) I-61 PROBLEM I-5B (Continued) (h) VERMAN CO. Adjusted Trial Balance February 28, 2015 Debit Credit Cash …………………………………………………………… Accounts Receivable …………………………………… Inventory ……………………………………………………. […]
978-1118334324 Appendix I Solution Manual Part 6
PROBLEM I-3B (Continued) Santo Supply Date Explanation Ref. Debit Credit Balance May 15 17 28 P1 G1 P1 100 900 500 900 800 1,300 Patek Company Date Explanation Ref. Debit Credit Balance May 8 16 P1 P1 8,000 7,200 8,000 […]
978-1118334324 Appendix I Solution Manual Part 5
Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only) I-41 PROBLEM I-6A (Continued) P. Weng Date Explanation Ref. Debit Credit Balance Jan. 5 27 P1 CP1 950 2,800 2,800 1,850 (d) […]
978-1118334324 Appendix I Solution Manual Part 4
PROBLEM I-5A (Continued) (c) Accounts Receivable Subsidiary Ledger Edwards Co. Date Explanation Ref. Debit Credit Balance July 6 20 S1 CR1 6,600 6,600 6,600 0 M. Putzi Date Explanation Ref. Debit Credit Balance July 21 S1 5,000 5,000 L. Nunez […]
978-1118334324 Appendix I Solution Manual Part 3
PROBLEM I-3A (Continued) General Journal G1 Date Accounts and Explanations Ref. Debit Credit July 8 Accounts Payable—Langer Company ……………………………….. Inventory ……………………………. 201/ 120/ 300 300 22 Sales Returns and Allowances Accounts Receivable— Dayley Company …………….. 412/ 112/ 65 65 […]
978-1118334324 Appendix I Solution Manual Part 2
EXERCISE I-6 (a) & (b) NORREN COMPANY Sales Journal S1 Date Account Debited Invoice No. Ref. Accounts Receivable Dr. Sales Revenue Cr. Cost of Goods Sold Dr. Inventory Cr. 2015 Sept. 2 21 J. Yancey K. Pricer 101 102 780 […]
978-1118334324 Appendix I Solution Manual Part 1
APPENDIX I Subsidiary Ledgers and Special Journals ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions Brief Exercises Do It! Exercises A Problems B Problems 1. Describe the nature and purpose of a subsidiary ledger. 1, 2, 5, 7,12 1, 2 1 1, […]
978-1118334324 Appendix I Lecture Note
APPENDIX I Subsidiary Ledgers and Special Journals LEARNING OBJECTIVES 1. DESCRIBE THE NATURE AND PURPOSE OF A SUBSID- IARY LEDGER. 2. EXPLAIN HOW COMPANIES USE SPECIAL JOURNALS IN JOURNALIZING. 3. INDICATE HOW COMPANIES POST A MULTI-COLUMN JOURNAL. Copyright © 2014 […]
978-1118334324 Appendix H Solution Manual Part 3
H-20 Copyright © 2014 John Wiley & Sons, Inc. Weygandt, Financial Accounting, 9/e, Solutions Manual (For Instructor Use Only) PROBLEM H-4B (a) Weaknesses (b) Recommended Procedures 1. Department managers have too much authority in hiring. The human resources […]
978-1118334324 Appendix H Solution Manual Part 2
PROBLEM H-2A (a) Jan. 10 Union Dues Payable …………………. 250.00 Cash …………………………………. 250.00 12 FICA Taxes Payable ………………….. 662.20 Federal Income Taxes Payable ….. 1,254.60 Cash …………………………………. 1,916.80 15 U.S. Savings Bonds Payable ……… 350.00 Cash …………………………………. 350.00 17 State […]
978-1118334324 Appendix H Solution Manual Part 1
APPENDIX H Payroll Accounting ASSIGNMENT CLASSIFICATION TABLE Learning Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Compute and record the payroll for a pay period. 1, 2, 3, 5, 6, 7, 8 1, 2 1, 2, 3, 4 […]
978-1118334324 Appendix H Lecture Note
APPENDIX H Payroll Accounting LEARNING OBJECTIVES PERIOD. 2. DESCRIBE AND RECORD EMPLOYER PAYROLL TAXES. 3. DISCUSS THE OBJECTIVES OF INTERNAL CONTROL FOR PAYROLL. 1. COMPUTE AND RECORD THE PAYROLL FOR A PAY APPENDIX H REVIEW Accounting for Payroll 1. (L.O. […]
978-1118334324 Appendix G Solution Manual Part 2
BRIEF EXERCISE G-18 i = 5% ? $48,850 $48,850 $48,850 $48,850 $48,850 $48,850 0 1 2 3 4 9 10 Discount rate from Table 4 is 7.72173. Present value of 10 payments of $48,850 each discounted at 5% is therefore […]
978-1118334324 Appendix G Solution Manual Part 1
APPENDIX G Time Value of Money SOLUTIONS TO BRIEF EXERCISES BRIEF EXERCISE G-1 (a) Interest = p X i X n I = $9,000 X .05 X 12 years I = $5,400 Accumulated amount = $9,000 + $5,400 = $14,400 […]
978-1118334324 Appendix G Lecture Note Part 2
G. Computing the Present Value of a Long-Term Note or Bond 1. The present value (or market price) of a long-term note or bond is a function of the: a. payment amounts. b. length of time until the amounts are […]
978-1118334324 Appendix G Lecture Note Part 1
APPENDIX G LEARNING OBJECTIVES 1. DISTINGUISH BETWEEN SIMPLE AND COMPOUND INTEREST. 2. SOLVE FOR FUTURE VALUE OF A SINGLE AMOUNT. 3. SOLVE FOR FUTURE VALUE OF AN ANNUITY. 4. IDENTIFY THE VARIABLES FUNDAMENTAL TO SOL- VING PRESENT VALUE PROBLEMS. 5. […]
978-0078025525 Chapter 18 Solution Manual Part 3
Chapter 18 – Performance Measurement to Support Business Strategy 18–17 18–43. (20 min.) Functional measures. Answers will vary, but might include any of the functional measures shown in Exhibit 18.7. The following is one example. An important critical success factor […]
978-0078025525 Chapter 18 Solution Manual Part 2
Chapter 18 – Performance Measurement to Support Business Strategy 18–11 18–35. (20 min.) Manufacturing Cycle Time and Efficiency. Manufacturing cycle efficiency = Processing time Processing time + Moving time + Storing time + Inspection time = 5 hrs. 5 hrs. […]
978-0078025525 Chapter 18 Solution Manual Part 1
Chapter 18 – Performance Measurement to Support Business Strategy 18-1 © 2014 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 copied, scanned, […]
978-0078025525 Chapter 17 Solution Manual Part 4
Chapter 17 – Additional Topics in Variance Analysis © 2014 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 copied, scanned, duplicated, forwarded, […]