Solutions for Bundle: Financial & Managerial Accounting, Loose-Leaf Version, 14th + CengageNOWv2, 2 terms Printed Access Card
Problem 4DQ:
eCatalog Services Company performed services in October for a specific customer, for a fee of 7,890....Problem 5DQ:
If the two totals of a trial balance are equal, does it mean that there are no errors in the...Problem 6DQ:
Assume that a trial balance is prepared with an account balance of 8,900 listed as 9,800 and an...Problem 8DQ:
Assume that Muscular Consulting erroneously recorded die payment of 7,500 of dividends as a debit to...Problem 9DQ:
Assume that Sunshine Realty Co. borrowed 300,000 from Columbia First Bank and Trust. In recording...Problem 10DQ:
Checking accounts are one of the most common forms of deposits for banks. Assume that Surety Storage...Problem 2.1BE:
Rules of debit and credit and normal balances State for each account whether it is likely to have...Problem 2.2BE:
Journal entry for asset purchase Prepare a journal entry for the purchase of office supplies on...Problem 2.3BE:
Journal entry for fees earned Prepare a journal entry on August 13 for cash received for services...Problem 2.4BE:
Journal entry for dividends Prepare a journal entry on June 30 for dividends of 11,500.Problem 2.5BE:
Missing amount from an account On August 1, the supplies account balance was 1,025. During August,...Problem 2.6BE:
Trial balance errors For each of the following errors, considered individually, indicate whether the...Problem 2.7BE:
Correcting entries The following errors took place in journalizing and posting transactions: A. The...Problem 2.2EX:
Chart of accounts Innerscape Interiors is owned and operated by Jackie Vargo, an interior decorator....Problem 2.3EX:
Chart of accounts LeadCo School is a newly organized business that teaches people how to inspire and...Problem 2.4EX:
Rules of debit and credit The following table summarizes the rules of debit and credit. For each of...Problem 2.5EX:
Normal entries for accounts During the month, Gates Labs Co. has a substantial number of...Problem 2.6EX:
Normal balances of accounts Identify each of the following accounts of Kaiser Services Co. as asset,...Problem 2.7EX:
Transactions Zenith Consulting Co. has the following accounts in its ledger: Cash, Accounts...Problem 2.8EX:
Journalizing and posting On October 3, 2018, Regal Company purchased 3,600 of supplies on account....Problem 2.9EX:
Transactions and T accounts The following selected transactions were completed during March of the...Problem 2.10EX:
Cash account balance During the month, Warwick Co. received 515,000 in cash and paid out 375,000 in...Problem 2.11EX:
Account balances A. During February, 186,500 was paid to creditors on account, and purchases on...Problem 2.12EX:
Retained earnings account balance As of January 1, Retained Earnings had a credit balance of...Problem 2.13EX:
Identifying transactions Napa Tours Co. is a travel agency. The nine transactions recorded by Napa...Problem 2.14EX:
Journal entries Based upon the T accounts in Exercise 2-13, prepare the nine journal entries from...Problem 2.15EX:
Trial balance Based upon the data presented in Exercise 2-13, (A) prepare an unadjusted trial...Problem 2.16EX:
Trial balance The accounts in the ledger of Atlantic Furniture Company as of July 2018 are listed in...Problem 2.17EX:
Effect of errors on trial balance Indicate which of the following errors, each considered...Problem 2.18EX:
Errors in trial balance The following preliminary unadjusted trial balance of Ranger Co., a sports...Problem 2.19EX:
Effect of errors on trial balance The following errors occurred in posting from a two-column...Problem 2.21EX:
Entries to correct errors The following errors took place in journalizing and posting transactions:...Problem 2.22EX:
Entries to correct errors The following errors took place in journalizing and posting transactions:...Problem 2.1APR:
Entries into T accounts and trial balance Marjorie Knaus, an architect, organized Knaus Architects...Problem 2.2APR:
Journal entries and trial balance On October 1, 2018, Jay Crowley established Affordable Realty,...Problem 2.3APR:
Journal entries and trial balance On November 1, 2018, Kris Lehman established an interior...Problem 2.4APR:
Journal entries and trial balance Elite Realty acts as an agent in buying, selling, renting, and...Problem 2.5APR:
Corrected trial balance The Lexington Group has the following unadjusted trial balance as of May 31,...Problem 2.1BPR:
Entries into T accounts and trial balance Ken Jones, an architect, organized Jones Architects on...Problem 2.2BPR:
Journal entries and trial balance On August 1, 2018, Rafael Masey established Planet Realty, which...Problem 2.3BPR:
Journal entries and trial balance On October 1, 2018, Jay Pryor established an interior decorating...Problem 2.4BPR:
Journal entries and trial balance Valley Realty acts as an agent in buying, selling, renting, and...Problem 2.5BPR:
Corrected trial balance Tech Support Services has the following unadjusted trial balance as of...Problem 1COP:
The transactions completed by PS Music during June 2018 were described at the end of Chapter 1. The...Browse All Chapters of This Textbook
Chapter 1 - Introduction To Accounting And BusinessChapter 2 - Analyzing TransactionsChapter 3 - The Adjusting ProcessChapter 4 - Completing The Accounting CycleChapter 5 - Accounting For Merchandising BusinessesChapter 6 - InventoriesChapter 7 - Internal Control And CashChapter 8 - ReceivablesChapter 9 - Long-Term Assets: Fixed And IntangibleChapter 10 - Liabilities: Current, Installment Notes, Contingencies
Chapter 11 - Liabilities: Bonds PayableChapter 12 - Corporations: Organization, StockTransactions, And DividendsChapter 13 - Statement Of Cash FlowsChapter 14 - Financial Statement AnalysisChapter 15 - Introduction To Managerial AccountingChapter 16 - Job Order CostingChapter 17 - Process Cost SystemsChapter 18 - Activity-Based CostingChapter 19 - Cost-Volume-Profit AnalysisChapter 20 - Variable Costing For Management AnalysisChapter 21 - BudgetingChapter 22 - Evaluating Variances From Standard CostsChapter 23 - Evaluating Decentralized OperationsChapter 24 - Differential Analysis And Product PricingChapter 25 - Capital Investment AnalysisChapter 26 - Lean Manufacturing And Activity AnalysisChapter C - Appendix CChapter D - Appendix D
Book Details
FINANCIAL AND MANAGERIAL ACCOUNTING, 14th Edition with CengageNOWv2 clearly demonstrates how accounting is much more than simply data and black and white rules. Instead, students see how accounting provides key information used to make critical business decisions. The book focuses on why accounting is important and consistently reinforces connections to the big picture throughout and CengageNOWv2 by connecting journal entries to the accounting equation. Fresh organization progresses from the simplest to the more complex topics with reorganized and fully integrated coverage of the new Revenue Recognition standard, reorganized coverage of adjustments, and reorganized managerial accounting sections.
Sample Solutions for this Textbook
We offer sample solutions for Bundle: Financial & Managerial Accounting, Loose-Leaf Version, 14th + CengageNOWv2, 2 terms Printed Access Card homework problems. See examples below:
Chapter 1, Problem 1DQChapter 1, Problem 1.3BEChapter 1, Problem 1.5APRChapter 1, Problem 1.6APRChapter 1, Problem 1.5BPRChapter 1, Problem 1.6BPRChapter 1, Problem 3ADMChapter 2, Problem 1DQChapter 2, Problem 2.3APR
Chapter 2, Problem 2.4APRChapter 2, Problem 2.3BPRChapter 2, Problem 2.4BPRChapter 2, Problem 1COPChapter 3, Problem 1DQChapter 3, Problem 3.3APRChapter 3, Problem 3.5APRChapter 3, Problem 3.2BPRExplanation: The following entry shows the adjusting entry for supplies on April 30. Date Account...Chapter 3, Problem 3.5BPRChapter 3, Problem 1COPChapter 4, Problem 1DQSolution: Record the transactions directly in their respective T-accounts, and determine their...Chapter 4, Problem 4.4APRChapter 4, Problem 4.5APRChapter 4, Problem 4.4BPRChapter 4, Problem 4.5BPRChapter 4, Problem 1COPExplanation: The following table shows the differences between a merchandising businesses from a...Chapter 5, Problem 5.2APRChapter 5, Problem 5.3APRChapter 5, Problem 5.4APRChapter 5, Problem 5.1BPRChapter 5, Problem 5.2BPRChapter 5, Problem 5.3BPRChapter 5, Problem 5.4BPRChapter 5, Problem 2CPPChapter 6, Problem 1DQChapter 6, Problem 6.3APRChapter 6, Problem 6.4APRChapter 6, Problem 6.5APRChapter 6, Problem 6.4BPRExplanation: The tabular column showing inventory cost is presented as follows: Model Quantity ($)...Chapter 6, Problem 2ADMInternal Control: Internal control refers to the policies, and plans of the business organization...Explanation: Journal entry 1: Establish petty cash fund. Date Account Title and Explanation Post Ref...Explanation: The deposits which are not recorded by the bank are referred to as deposits in transit....Explanation: The deposits which are not recorded by the bank are referred to as deposits in transit....Explanation: Journal entry 1: Establish petty cash fund. Date Account Title and Explanation Post Ref...Explanation: The deposits which are not recorded by the bank are referred to as deposits in transit....Chapter 8, Problem 1DQChapter 8, Problem 8.13EXChapter 8, Problem 8.14EXChapter 8, Problem 8.1APRChapter 8, Problem 8.4APRChapter 8, Problem 8.4BPRChapter 9, Problem 1DQChapter 9, Problem 9.3APRChapter 9, Problem 9.4APRJournalize the transactions and adjusting entries for Year 1. Date Account Title and Explanation...Explanation: Determinethe amount of depreciation for four years ending December 31 by straight-line...Explanation: Determinethe amount of depreciation for four years ending December 31 by straight-line...Chapter 9, Problem 9.5BPRChapter 10, Problem 1DQChapter 10, Problem 10.1APRChapter 10, Problem 10.3APRExplanation: Working notes: Calculate interest expense for discounted notes. Interest expense =...Explanation: Working notes: Calculate gross earnings for Mr. A. Gross earnings=Monthly salary×Number...Explanation: The following are the journal entries. 20Y5 Particulars Debit ($) Credit ($) January 3...Chapter 11, Problem 1DQChapter 11, Problem 11.1APRExplanation: Cash is an asset and it is increased. So, debit it by $26,625,925. Premium on Bonds...Chapter 11, Problem 11.1BPRCash is an asset and it is increased. So, debit it by $73,100,469. Premium on Bonds Payable is an...Chapter 12, Problem 1DQExplanation: Transaction 1: Declared 5% of stock dividends. Stock Dividends is a...Chapter 12, Problem 12.4APRChapter 12, Problem 12.5APRChapter 12, Problem 12.4BPRWorking note: Compute the amount of total cash dividends declared on March 1. Amount of total cash...Explanation: The main disadvantage is that the cash receipts and cash payments data’s might not be...Chapter 13, Problem 13.17EXExplanation: Working notes: Calculate increase or decrease in merchandise inventories: Increase or...Chapter 13, Problem 13.21EXExplanation: Working notes: Calculate the amount of cash received from customers: (Cash received...Explanation: Company AT has more revenue of $132,447 which is more than the revenue of Company F of...Explanation: In general, as said above, financial ratios are mainly used for evaluation of the...Compute working capital. Current ratio=Current assets–Current liabilities= $1,650,000 –...Chapter 14, Problem 14.4APRChapter 14, Problem 14.3BPRChapter 14, Problem 14.4BPRExplanation: Rate of return on assets(20Y8)=Net income + Interest expenseAverage total...Chapter 14, Problem 1FSAChapter 15, Problem 1DQChapter 15, Problem 15.4APRChapter 15, Problem 15.4BPRWorking Notes: Determine the in-patient days for the month of April. In−patientdays for April}=...Explanation: The two principal types of cost accounting systems are: 1. Job order cost system 2....Chapter 16, Problem 16.15EXChapter 16, Problem 16.2APRChapter 16, Problem 16.2BPRChapter 16, Problem 16.2TIFChapter 17, Problem 1DQChapter 17, Problem 17.17EXChapter 17, Problem 17.1APRChapter 17, Problem 17.1BPRChapter 17, Problem 17.2BPRChapter 17, Problem 17.4BPRExplanation: From: LB Former Plant manager Company GP To: JM Current Plant manager Company GP Re:...Chapter 18, Problem 1DQChapter 18, Problem 18.4EXChapter 18, Problem 18.13EXChapter 18, Problem 18.16EXChapter 18, Problem 18.3APRChapter 18, Problem 18.3BPRChapter 19, Problem 1DQDetermine the break-even point in sales units for the overall Product E. Fixed cost =$2,498,600...Chapter 19, Problem 19.6APRConstruct a cost-volume-profit chart indicating the break-even sales for last year. Figure (1) The...Chapter 19, Problem 19.5BPRExplanation: Prepare an estimated income statement for 20Y7. Company B Estimated Income Statement...Chapter 20, Problem 1DQChapter 20, Problem 20.14EXChapter 20, Problem 20.1APRChapter 20, Problem 20.3APRExplanation: Working notes: 1. Calculate the value of ending inventory per unit. Ending inventory...Chapter 20, Problem 20.3BPRExplanation: The three major objectives of budgeting are described below: To set the goals for the...Chapter 21, Problem 21.13EXChapter 21, Problem 21.2APRChapter 21, Problem 21.3APRChapter 21, Problem 21.2BPRChapter 21, Problem 21.3BPRChapter 22, Problem 1DQChapter 22, Problem 22.6BEChapter 22, Problem 22.5APRChapter 22, Problem 22.1BPRExplanation: Determine the direct labor time variance. Direct labor time variance} = [(Actual direct...Chapter 22, Problem 5CPPExplanation: Differences between centralized and decentralized operations: Centralized Operations...Chapter 23, Problem 23.5EXExplanation: 1) Determine ROI of MN Segment, if income from operations is $7,321,000,000, sales are...Chapter 23, Problem 23.16EXChapter 23, Problem 23.4APRChapter 23, Problem 23.4BPRChapter 24, Problem 1DQExplanation: Desired Profit: Company CD aims at earning a profit of 15% of the total investment made...Explanation: Desired Profit: Company NG aims at earning a profit of 10% of the total investment made...Chapter 24, Problem 1ADMExplanation: Operating income: Operating income refers to the income generated from the operation of...The major objection for using the average rate of return method is as follows: 1. Average rate of...The cash payback period for the given proposals is as follows: Proposal A: Initial...Chapter 25, Problem 25.6BPRChapter 25, Problem 1ADMExplanation: The benefits of lean philosophy are as follows: Lean philosophy helps to reduce the...Chapter 26, Problem 26.12EXChapter 26, Problem 26.13EXChapter 26, Problem 26.14EXChapter 26, Problem 26.3APRChapter 26, Problem 26.3BPRDue to tremendous growth in international commerce, the companies require to report to the users...Chapter D, Problem D.1EXChapter D, Problem D.5EX
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