Solutions for Accounting Principles - Standalone book
Problem 4Q:
4. What uses of financial accounting information are made by (a) investors and (b) creditors?
Problem 6Q:
6. Trenton Travel Agency purchased land for $90,000 cash on December 10, 2017. At December 31, 2017,...Problem 7Q:
7. What is the monetary unit assumption?
Problem 8Q:
8. What is the economic entity assumption?
Problem 11Q:
11. What is basic accounting equation?
Problem 13Q:
13. Which of the following items are liabilities of Siebers Jewelry Stores?
Cash.
Accounts...Problem 14Q:
14. Can a business enter into a transaction in which only the left side of the basic accounting...Problem 15Q:
15. Are the following events recorded in the accounting records? Explain your answer in each...Problem 16Q:
16. Indicate how the following business transactions affect the basic accounting equation.
(a) Paid...Problem 20Q:
20. Saylor Enterprises had a capital balance of $168,000 at the beginning of the period. At the end...Problem 21Q:
21. Summarized operations for Bayles Co. for the month of July are as follows.
Revenues recognized:...Problem 22Q:
22. The basic accounting equation is Assets = Liabilities + Owner’s equity. Replacing the words in...Problem 1.1BE:
BE1-1 Presented below is the basic accounting equation. Determine the missing amounts.
Problem 1.2BE:
BE1-2 Given the accounting equation, answer each of the following questions.
(a) The liabilities of...Problem 1.3BE:
BE 1-3 At the beginning of the year, Gilles Company had total assets of $800,000 and total...Problem 1.4BE:
BE1-4 Use the expanded accounting equation to answer each of the following questions.
(a) The...Problem 1.5BE:
BE1-5 Indicate whether each of the following items is an asset (A), liability (L), or part of...Problem 1.6BE:
BE1-6 Presented below are three business transactions. On a sheet of paper, list the letters (a),...Problem 1.7BE:
BE1-7 Follow the same format as in BE1-6. Determine the effect on assets, liabilities, and owner’s...Problem 1.8BE:
BE1-8 Classify each of the following items as owner’s drawings (D), revenue (R), or expense...Problem 1.9BE:
BE 1 - 9 Presented below are three transactions. Mark each transaction as affecting owner’s...Problem 1.10BE:
BE1-10 In alphabetical order below are balance sheet items for Mendoza Company at December 31, 2017....Problem 1.11BE:
BE1-11 Indicate whether the following items would appear on the income statement (IS), balance sheet...Problem 1.2DIE:
Indicate whether each of the five statements presented below is true or false.
1. Congress passed...Problem 1.5DIE:
Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports...Problem 1.2E:
E1-2 (a) The following are users of financial statements.
Customers Securities and Exchange...Problem 1.3E:
E1-3 Angela Duffy, president of Duffy Company, has instructed Jana Barth, the head of the accounting...Problem 1.4E:
E1-4 The following situations involve accounting principles and assumptions.
1. Tisinai Company owns...Problem 1.5E:
E1-5 Diehl Cleaners has the following balance sheet items.
Accounts payable Accounts...Problem 1.6E:
E1-6 Selected transactions for Green Valley Lawn Care Company are listed below.
1. Made cash...Problem 1.7E:
E1-7 Falske Computer Timeshare Company entered into the following transactions during May 2017.
1....Problem 1.8E:
E1-8 An analysis of the transactions made by Arthur Cooper & Co., a certified public accounting...Problem 1.9E:
E1-9 An analysis of transactions for Arthur Cooper & Co. was presented in E1-8.
Instructions
Prepare...Problem 1.10E:
E1-10 Finch Company had the following assets and liabilities on the dates indicated.
December...Problem 1.11E:
E1-11 Two items are omitted from each of the following summaries of balance sheet and income...Problem 1.12E:
E1-12 The following information relates to Armanda Co. for the year 2017.
Owner’s capital, January...Problem 1.13E:
E1-13 Abby Roland is the bookkeeper for Cheng Company. Abby has been trying to determine the correct...Problem 1.14E:
E1-14 Loren Satina is the sole owner of Clear View Park, a public camping ground near the Lake Mead...Problem 1.15E:
E1-15 Presented below is financial information related to the 20I7 operations of Sea Legs Cruise...Problem 1.16E:
E1-16 Presented below is information related to the sole proprietorship of Alice Henning,...Problem 1.1AP:
P1-1A On April 1, Julie Spengel established Spengel’s Travel Agency. The following transactions were...Problem 1.2AP:
P1-2A Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet showed Cash...Problem 1.3AP:
P1-3A On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft...Problem 1.4AP:
P1-4A Trixie Maye started her own consulting firm, Matrix Consulting, on May 1, 20I7. The following...Browse All Chapters of This Textbook
Chapter 1 - Accounting In ActionChapter 2 - The Recording ProcessChapter 3 - Adjusting The AccountsChapter 4 - Completing The Accounting CycleChapter 5 - Accounting For Merchandising OperationsChapter 6 - InventoriesChapter 7 - Accounting Information SystemsChapter 8 - Fraud, Internal Control, And CashChapter 9 - Accounting For ReceivablesChapter 10 - Plant Assets, Natural Resources, And Intangible Assets
Chapter 11 - Current Liabilities And Payroll AccountingChapter 12 - Accounting For PartnershipsChapter 13 - Corporations: Organization And Capital Stock TransactionsChapter 14 - Corporations: Dividends, Retained Earnings, And Income ReportingChapter 15 - Long-Term LiabilitiesChapter 16 - InvestmentsChapter 17 - Statement Of Cash FlowsChapter 18 - Financial Statement AnalysisChapter 19 - Managerial AccountingChapter 20 - Job Order CostingChapter 21 - Process CostingChapter 22 - Cost-Volume-ProfitChapter 23 - Budgetary PlanningChapter 24 - Budgetary Control And Responsibility AccountingChapter 25 - Standard Costs And Balanced ScorecardChapter 26 - Incremental Analysis And Capital Budgeting
Book Details
Accounting Principles 12th Edition by Weygandt, Kimmel, and Kieso provides students with a clear introduction to fundamental accounting concepts. The Twelfth Edition helps students get the most out of their accounting course by making practice simple. Both in the print text and online in WileyPLUS with ORION new opportunities for self-guided practice allow students to check their knowledge of accounting concepts, skills, and problem solving techniques and receive personalized feedback at the question, learning objective, and course level. Newly streamlined learning objectives help students use their study time efficiently by creating a clear connections between the reading and video content, and the practice, homework, and assessments questions.
Weygandt, Accounting Principles is a best-selling program ideal for a two-semester Principles of Accounting sequence where students spend the majority of the time learning financial accounting concepts, and are introduced to the basic concepts of managerial accounting at the end of the sequence With Accounting Principles students learn the accounting cycle from a sole proprietor perspective.
* WileyPLUS with ORION sold seperately from the text.
Weygandt, Accounting Principles is a best-selling program ideal for a two-semester Principles of Accounting sequence where students spend the majority of the time learning financial accounting concepts, and are introduced to the basic concepts of managerial accounting at the end of the sequence With Accounting Principles students learn the accounting cycle from a sole proprietor perspective.
* WileyPLUS with ORION sold seperately from the text.
Sample Solutions for this Textbook
We offer sample solutions for Accounting Principles - Standalone book homework problems. See examples below:
Explanation: There are various users (owner, employees, government, creditors and investors) of...Explanation: The title of the account: The title of the account is basically the name of the...Explanation: Time period assumption affects accountant’s business analysis in following ways:...Explanation: A worksheet is prepared to summarize the information needed for the preparation of...Explanation: The accounting cycle of a merchandising company is quite different from the accounting...Explanation: The effective management of inventory includes the prevention of goods wastage...Explanation: Accounting information system is the system which provides information about the...Explanation: Meaning of fraud: Fraud can be defined as an act of dishonesty that can be performed by...Explanation: The difference between an account receivable and a note receivable are explained as...
Explanation: In the given case, Mr. S is uncertain about the applicability of historical cost...Explanation: Liabilities usually categorized into two parts that are current liabilities and...Explanation: Association of individuals: A partnership is not known by individual names of the...Explanation: Separate legal existence: A business which is detached from another business in terms...Explanation: The company provides return to its shareholders by paying a dividend which is out of...Explanation: Long-term liabilities are the liabilities of the company which can be converted into...Explanation: Corporations invest in securities to utilize the available funds and earn returns....Chapter 17, Problem 1QAnalysis of financial statements of the firm helps to frame policies and plans. Financial analysis...Explanation: The statement “managerial accounting is a field of accounting that provides economic...Explanation: The difference between cost accounting and a cost accounting system is explained as...Explanation: (a) Q Company Costing system used by Q Company would be process costing. Explanation: Q...Explanation: Different types of costs are incurred in the business some of them change as per the...Explanation: Budget represents the estimated values of specified accounts for future time periods....Explanation: (a) The use of appropriate budgets in order to systematize the operations of...Explanation: Standard costs are the costs which are estimated by a company to measure its own...Explanation: Management decision making process does not always adhere to a set pattern due to the...
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