Archives: Solution Manual
978-0078025587 Chapter 5 Solution Manual Part 1
Title: Question 1 QA_Ori: Merchandising companies report Merchandise Inventory on the balance Title: Question 2 QA_Ori: Additional accounts of a merchandising company likely include Merchandise Inventory, Sales (of goods), Cost of Goods Sold, Sales Discounts, and Sales Returns and Allowances […]
978-0078025587 Chapter 4 Solution Manual Part 8
Title: Reporting in Action 1 QA_Ori: The revenue items from its income statement must be identified, and those would be credited to Income Summary as step 1 in the closing entry process. Title: Reporting in Action 2 QA_Ori: The total […]
978-0078025587 Chapter 4 Solution Manual Part 7
Part 3 Closing entries (all dated December 31, 2013) Instructor note: Entries are shown without an account reference column because no posting is required. 1 Repair Fees Earned 54,700 Income Summary 54,700 To close the revenue account. 2 Income Summary […]
978-0078025587 Chapter 4 Solution Manual Part 6
Part 6 Closing entries 31-Jul Storage Fees Earned 40 1 10,950 90 31-Jul Income Summary 90 1 8,225 Depreciation Exp—Buildings 60 6 1,500 Salaries Expense 2 2,100 Insurance Expense… 63 7 400 Rent Expense 64 0 2,000 Office Supplies Expense […]
978-0078025587 Chapter 4 Solution Manual Part 5
Title: Problem 4-5A QA_Ori: Part 1 Tybalt CONSTRUCTION Income Statement For Year Ended December 31, 2013 Revenues Professional fees earned $97,000 Expenses Depreciation expense—Building 11,000 Depreciation expense—Equipment 6,000 Wages expense 32,000 Interest expense 5,100 Insurance expense 10,000 Rent expense 13,400 […]
978-0078025587 Chapter 4 Solution Manual Part 4
Part 7 aDVENTURE TRAVEL Post-Closing Trial Balance 30-Apr-13 Debit Credit Cash $27,000 Accounts receivable 1,750 Ledger as of April 30 Cash Acct. No. 101 Date Explanation PR Debit Credit Balance 1 30000 30000 2 1800 28200 3 1000 27200 10 […]
978-0078025587 Chapter 4 Solution Manual Part 3
Title: Exercise 4-12 Part 1 QA_Ori: DYLAN DELIVERY COMPANY Work Sheet For Year Ended December 31, 2013 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet and Statement of Owner’s Equtiy Account Title Dr. Cr. Dr. Cr. Dr. […]
978-0078025587 Chapter 4 Solution Manual Part 2
Title: Exercise 4-2 QA_Ori: 1. 2013 31-Dec Services Revenue 404 44,000 Income Summary 901 44,000 To close the revenue account. 31-Dec Income Summary 901 33,100 To close the withdrawals account. 2. Cruz company Post-Closing Trial Balance 31-Dec-13 Debit Credit Cash […]
978-0078025587 Chapter 4 Solution Manual Part 1
Title: Question 1 QA_Ori: The four-step closing entry process is: (i) close the revenue (and gain) accounts to the Title: Question 2 QA_Ori: Closing entries affect temporary accounts: revenues, expenses, withdrawals, and income summary. Specifically, closing entries at the end […]
978-0078025587 Chapter 3 Solution Manual Part 12
Title: Problem 3-5B Part 1 QA_Ori: SPEEDY COURIER Income Statement For Year Ended December 31, 2013 Revenues Delivery fees earned $611,80 0 Interest earned 34,000 Total revenues $645,80 0 SPEEDY COURIER Statement of Owner’s Equity For Year Ended December 31, […]
978-0078025587 Chapter 3 Solution Manual Part 10
Part 2 JKL CoMPANY Income Statement For Year Ended July 31, 2013 Revenues Consulting fees earned $134,24 0 Expenses Depreciation expense—Office equipment $6,00 0 74,00 JKL CoMPANY Statement of Owner’s Equity For Year Ended July 31, 2013 J. Logan, Capital, […]
978-0078025587 Chapter 3 Solution Manual Part 9
Title: Exercise 3-11A QA_Ori: a. Initial credit recorded in the Unearned Fees account 1-Jul Cash 6-Jan Cash 7,500 Unearned Fees 7,500 Received fees for work to be done for Haru. 12-Jan Unearned Fees 3,000 Fees Earned 3,000 Completed work for […]
978-0078025587 Chapter 3 Solution Manual Part 8
Title: Quick Study 3-19 QA_Ori: a. Step 1: Accounts Receivable equals $0 Step 2: Accounts Receivable should equal $19,000 (not yet recorded) Step 3: Adjusting entry to get from Step 1 to Step 2 Accounts Receivable……………………………………………….. 15,500 Services Revenue……………………………………………….. 15,500 […]
978-0078025587 Chapter 3 Solution Manual Part 7
Part 6 SUCCESS SYSTEMS Balance Sheet December 31, 2013 Assets Cash $58,16 0 Accounts receivable 5,668 Computer supplies 580 Liabilities Accounts payable $1,100 Wages payable 500 Unearned computer services revenue 1,500 Total liabilities 3,100 Equity A. Lopez, Capital 90,148 Total […]
978-0078025587 Chapter 3 Solution Manual Part 6
Part 2 SPEEDY COURIER Balance Sheet December 31, 2013 Assets Cash $ 58,000 Accounts receivable 120,000 Interest receivable 7,000 Notes receivable (due in 90 days) 210,000 Office supplies 22,000 Trucks $ 134,000 Accumulated depreciation—Trucks (58,000) 76,000 Equipment 270,000 Accumulated depreciation—Equipment […]
978-0078025587 Chapter 3 Solution Manual Part 5
Title: Problem 3-3B Parts 1 and 2 QA_Ori: Cash Accounts Payable 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 Unadj. Bal. 70,000 Unadj. […]
978-0078025587 Chapter 3 Solution Manual Part 4
Title: Problem 3-4A QA_Ori: Part 1 Account Unadjusted Trial Balance Adjustments Adjusted Trial Balance Cash…………………….. $ 34,000 $ 34,000 Accounts receivable…… 14,000 (a ) 8,000 22,000 Office supplies………….. 16,000 (b ) 14,000 2,000 Prepaid insurance……… 8,540 (c) 5,580 2,960 Office […]
978-0078025587 Chapter 3 Solution Manual Part 3
Title: Exercise 3-10A QA_Ori: a. Dec. 1 Supplies Expense 2,000 b. Dec. 2 Insurance Expense 1,540 Cash 1,540 Paid insurance premiums. c. Dec. 15 Cash 13,00 0 Remodeling Fees Earned 0 Received fees for work to be done. 13,00 d. […]
978-0078025587 Chapter 3 Solution Manual Part 2
Title: Quick Study 3-18 QA_Ori: a. Step 1: Salaries Payable equals $0 Step 2: Salaries Payable should equal $15,500 (not yet recorded) Step 3: Adjusting entry to get from Step 1 to Step 2 Salaries Expense……………………………………………………. 15,500 Salaries Payable…………………………………………………. 15,500 […]
978-0078025587 Chapter 3 Solution Manual Part 1
Title: Question 1 QA_Ori: The cash basis of accounting reports revenues when cash is received while the Title: Question 2 QA_Ori: The accrual basis of accounting generally provides a better indication of company performance and financial condition than does the […]
978-0078025587 Chapter 2 Solution Manual Part 7
Part 3 SUCCESS SYSTEMS Trial Balance 30-Nov Debit Credit Cash $48,052 Accounts receivable 12,618 Computer supplies 2,545 Prepaid insurance 2,220 Prepaid rent 3,300 Office equipment 8,000 Computer equipment 20,000 Accounts payable $0 A. Lopez, Capital 83,000 A. Lopez, Withdrawals 5,600 […]
978-0078025587 Chapter 2 Solution Manual Part 6
Title: Problem 2-4B QA_Ori: Part 1 TAMA CO. Balance Sheet December 31, 2012 Assets Liabilities Cash………………………………$ 20,000 Accounts payable…………………………………………………………………….$ 4,000 Accounts receivable………… 35,000 TAMA CO. Balance Sheet December 31, 2013 Assets Liabilities Cash……………………………… $ 5,000 Accounts payable…………………………………………………………………….$ 12,000 Accounts receivable………… […]
978-0078025587 Chapter 2 Solution Manual Part 5
Part 3 HV Consulting Trial Balance 30-Sep Debit Credit Cash $12,665 Accounts receivable 2,250 Office supplies 2,000 Office equipment 50,900 Title: Problem 2-1B QA_Ori: Part 1 a. Cash 101 65,000 Office Equipment 163 5,750 Computer Equipment 164 30,000 B. Grechus, […]
978-0078025587 Chapter 2 Solution Manual Part 4
Title: Problem 2-3A QA_Ori: Part 1 1-Apr Cash 101 80,00 0 26,00 2-Apr Prepaid Rent 131 9,000 Cash 101 9,000 Prepaid twelve months’ rent. 3-Apr Office Equipment 163 8,000 Office Supplies 124 3,600 Accounts Payable 201 11,600 Purchased equip. & […]
978-0078025587 Chapter 2 Solution Manual Part 3
Title: Exercise 2-22 QA_Ori: a. Co. Liabilities / Assets = Debt Ratio Net Income / Average Assets = ROA 1 $11,765 $ 90,500 0.13 $20,000 $100,000 0.200 2 46,720 64,000 0.73 3,800 40,000 0.095 Title: Exercise 2-23 QA_Ori: BMW Balance […]
978-0078025587 Chapter 2 Solution Manual Part 2
Title: Exercise 2-8 QA_Ori: Cash Photography Equipment Aug. 1 6,500 Aug. 2 2,100 Aug. 1 33,50 0 Office Supplies Photography Fees Earned Aug. 5 880 Aug. 20 3,331 Prepaid Insurance Utilities Expense Aug. 2 2,100 Aug. 31 675 POSE-FOR-PICS Trial […]
978-0078025587 Chapter 2 Solution Manual Part 1
Title: Question 1 QA_Ori: a. Common asset accounts: cash, accounts receivable, notes receivable, Title: Question 2 QA_Ori: A note payable is formal promise, usually denoted by signing a promissory note to pay a future amount. A note payable can be […]
978-0078025587 Chapter 1 Solution Manual Part 7
Title: Serial Problem SP 1 QA_Ori: Assets = Liabiliti es + Equity Date Cash + Accounts Receivab le + Comput er Supplies + Comput er System + Office Equipme nt = Accoun ts Payabl e + A. Lopez, Capital – […]
978-0078025587 Chapter 1 Solution Manual Part 6
Title: Problem 1-8B QA_Ori: Parts 1 and 2 Assets = Liabilitie s + Equity Date Cash + Accounts Receivabl e +Office Supplies + Office Equipmen t + Excavatin g Equipmen t = Account s Payable +R. Truro, Capital – R. […]
978-0078025587 Chapter 1 Solution Manual Part 5
Title: Problem 1-5B QA_Ori: HalfLife Co. Statement of Cash Flows For Year Ended December 31, 2013 Cash used by operating activities ($3,000 ) Title: Problem 1-6B QA_Ori: ATV Company Statement of Owner’s Equity For Year Ended December 31, 2013 A.T. […]
978-0078025587 Appendix B Solution Manual Part 4
Title: Problem C-3B QA_Ori: 1. The major costs of making the boxes are designing the boxes, setting up machines to make the right cuts, cutting the cardboard, printing the boxes, 3. Yes. Lakeside’s old customers bought the same type of […]
978-0078025587 Appendix B Solution Manual Part 3
Title: Problem C-4A QA_Ori: 1. Plantwide overhead rate: Engineering support $24,500 Product A 10,000 units x 0.3 DLH/unit = 3,000 DLH Product B 2,000 units x 1.6 DLH/unit = 3,200 DLH 6,200 DLH Product A Product B Direct materials per […]
978-0078025587 Appendix B Solution Manual Part 2
Title: Exercise C-4 QA_Ori: 1. Total direct labor hours: Product A: 10,000 units x 0.20 DLH/unit = 2,000 DLH Plant-wide overhead rate: $249,000/2,500 DLH = $99.60/DLH Product A Product B Direct materials A: 10,000 units x $2/unit $20,000 B: 2,000 […]
978-0078025587 Appendix B Solution Manual Part 1
. Title: Question 1 QA_Ori: Manufacturing overhead costs cannot be directly traced to units of product Title: Question 2 QA_Ori: In the first stage, service department costs are assigned to operating departments. In the second stage, a predetermined overhead rate […]
978-0078025587 Appendix A Solution Manual
Appendix B Time Value of Money QUICK STUDIES Quick Study B-1 (10 minutes) 1. 2% 2. 12% 3. 3% 4. 1% Quick Study B-2 (10 minutes) In Table B.1, where n = 15 and p = $2,745/$10,000 = 0.2745, the […]
978-0078034695 Chapter 22 Solution Manual
Chapter 22 – Investors and The Investment Process 22-1 © 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 copied, scanned, duplicated, […]
978-0078034695 Chapter 21 Solution Manual
Chapter 21 – Taxes, Inflation, and Investment Strategy CHAPTER 21 21-1 © 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 copied, […]
978-0078034695 Chapter 20 Solution Manual
Chapter 20 – Hedge Funds CHAPTER 20 20-1 © 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 copied, scanned, duplicated, forwarded, […]
978-0078034695 Chapter 19 Solution Manual
Chapter 19 – Globalization and International Investing CHAPTER 19 19-1 © 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 copied, scanned, […]
978-0078034695 Chapter 18 Solution Manual
Chapter 18 – Portfolio Performance Evaluation CHAPTER 18 18-1 © 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 copied, scanned, duplicated, […]
978-0078034695 Chapter 17 Solution Manual
Chapter 17 – Futures Markets and Risk Management CHAPTER 17 17-1 © 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 copied, […]
978-0078034695 Chapter 16 Solution Manual Part 2
Chapter 16 – Option Valuation 1. a. Choice A: Calls have higher elasticity than shares. For equal dollar b. Choice B: Calls have hedge ratios less than 1.0. For equal numbers of shares controlled, the dollar exposure of the calls […]
978-0078034695 Chapter 16 Solution Manual Part 1
Chapter 16 – Option Valuation CHAPTER 16 16-1 © 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 copied, scanned, duplicated, forwarded, […]
978-0078034695 Chapter 15 Solution Manual Part 2
Chapter 15 – Options Markets 19. The Excel spreadsheet for both parts (a) and (b) is shown on the next page, and the profit diagrams are on the following page. a. & b. 15-1 © 2013 by McGraw-Hill Education. This […]
978-0078034695 Chapter 15 Solution Manual Part 1
Chapter 15 – Options Markets CHAPTER 15 15-1 © 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 copied, scanned, duplicated, forwarded, […]
978-0078034695 Chapter 14 Solution Manual
Chapter 14 – Financial Statement Analysis CHAPTER 14 14-1 © 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 copied, scanned, duplicated, […]
978-0078034695 Chapter 13 Solution Manual Part 2
Chapter 13 – Equity Valuation CFA 1 Answer: a. This director is confused. In the context of the constant growth model, it is true b. i. An increase in dividend payout reduces the sustainable growth rate as fewer funds are […]
978-0078034695 Chapter 13 Solution Manual Part 1
Chapter 13 – Equity Valuation CHAPTER 13 13-1 © 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 copied, scanned, duplicated, forwarded, […]
978-0078034695 Chapter 12 Solution Manual
Chapter 12 – Macroeconomic and Industry Analysis CHAPTER 12 12-1 © 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 copied, scanned, […]
978-0078034695 Chapter 11 Solution Manual Part 2
Chapter 11 – Managing Bond Portfolios 27. You should buy the three-year bond because it will offer a 9% holding-period return over the next year, which is greater than the return on either of the other bonds, as shown below: […]