Stockholder’s equity : The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business. Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts. Accounting rules for journal entries: To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains. To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains. To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

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Answer 1

Question

Chapter 13, Problem 13.4AP

(a)

To determine

Stockholder’s equity: The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business.

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.

To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

(b)

To determine

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

(c)

To determine

To prepare: The stockholder’s equity section.

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Question: Power Security Systems had sales of 3,000 units at $50 per unit last year. The marketing manager projects a 20 percent increase in unit volume sales this year with a 10 percent price increase. Returned merchandise will represent 6 percent of total sales. What is your net dollar sales projection for this year?

Answer 2

Question

Chapter 13, Problem 13.4AP

(a)

To determine

Stockholder’s equity: The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business.

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.

To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

(b)

To determine

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

(c)

To determine

To prepare: The stockholder’s equity section.

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Answer 3

Question

Chapter 13, Problem 13.4AP

(a)

To determine

Stockholder’s equity: The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business.

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.

To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

(b)

To determine

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

(c)

To determine

To prepare: The stockholder’s equity section.

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Answer 4

Question

Chapter 13, Problem 13.4AP

(a)

To determine

Stockholder’s equity: The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business.

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.

To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

(b)

To determine

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

(c)

To determine

To prepare: The stockholder’s equity section.

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Answer 5

Chapter 13, Problem 13.4AP

(a)

To determine

Stockholder’s equity: The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business.

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.

To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

(b)

To determine

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

(c)

To determine

To prepare: The stockholder’s equity section.

Answer 6

Chapter 13, Problem 13.4AP

(a)

To determine

Stockholder’s equity: The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business.

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.

To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

Answer 7

Chapter 13, Problem 13.4AP

(a)

To determine

Stockholder’s equity: The stockholder’s equity refers to the right of the stockholder’s in the business. The stockholder’s equity is built up of two items (1) the paid-up capital from the shareholders and (2) the retained earnings of the business.

Journalizing: It is the process of recording the transactions of an organization in a chronological order. Based on these journal entries recorded, the amounts are posted to the relevant ledger accounts.

Accounting rules for journal entries:

To increase the balance of the account: Debit assets, expenses, losses and credit all liabilities, capital, revenue, and gains.

To decrease the balance of the account: Credit assets, expenses, losses and debit all liabilities, capital, revenue, and gains.

To prepare: The journal entries for the treasury stock transactions and the closing entry for net income.

Answer 8

(b)

To determine

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

Answer 9

(b)

To determine

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

Answer 10

(c)

To determine

To prepare: The stockholder’s equity section.

Answer 11

(c)

To determine

To prepare: The stockholder’s equity section.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 13 - Prob. 1Q Ch. 13 - Prob. 2Q Ch. 13 - Prob. 3Q Ch. 13 - Prob. 4Q Ch. 13 - Prob. 5Q Ch. 13 - Prob. 6Q Ch. 13 - Prob. 7Q Ch. 13 - Prob. 8Q Ch. 13 - Prob. 9Q Ch. 13 - Prob. 10Q

To prepare: The postings to be done in the ledger account of stockholder’s equity accounts.

To prepare: The stockholder’s equity section.

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Chapter 13 Solutions