Solutions for Corporate Financial Accounting
Problem 2DQ:
Describe the nature of the assets that compose the following sections of a balance sheet: (A)...Problem 9DQ:
What is the natural business year?Problem 10DQ:
Recent fiscal years for several well-known companies are as follows: Company Fiscal Year Ending J....Problem 4.1BE:
Flow of accounts into financial statements The balances for the accounts that follow appear in the...Problem 4.2BE:
Retained earnings statement Blake Knudson owns and operates Grab Bag Delivery Services. On January...Problem 4.3BE:
Classified balance sheet The following accounts appear in an adjusted trial balance of Kangaroo...Problem 4.5BE:
Accounting cycle From the following list of steps in the accounting cycle, identify what two steps...Problem 4.1EX:
Flow of accounts into financial statements The balances for the accounts that follow appear in the...Problem 4.2EX:
Classifying accounts Balances for each of the following accounts appear in an adjusted trial...Problem 4.3EX:
Financial statements from the end-of-period spreadsheet Taser Consulting is a consulting firm owned...Problem 4.4EX:
Financial statements from the end-of-period spreadsheet Triton Consulting is a consulting firm owned...Problem 4.5EX:
Income statement The following account balances were taken from the adjusted trial balance for...Problem 4.6EX:
Income statement; net loss The following revenue and expense account balances were taken from the...Problem 4.7EX:
Income statement FedEx Corporation had the following revenue and expense account balances (in...Problem 4.8EX:
Retained earnings statement Climate Control Systems Co. offers its services to residents in the...Problem 4.9EX:
Retained earnings statement; net loss Selected accounts from the ledger of Restoration Arts for the...Problem 4.10EX:
Classifying assets Identify each of the following as (A) a current asset or (B) property, plant, and...Problem 4.11EX:
Balance sheet classification At the balance sheet date, a business owes a mortgage note payable of...Problem 4.12EX:
Balance sheet Dynamic Weight Loss Co. offers personal weight reduction consulting services to...Problem 4.14EX:
Identifying accounts to be closed From the list that follows, identify the accounts that should be...Problem 4.15EX:
Closing entries Prior to its closing, Income Summary had total debits of 1,190,500 and total credits...Problem 4.16EX:
Closing entries with net income After all revenue and expense accounts have been closed at the end...Problem 4.17EX:
Closing entries with net loss Rainbow Services Co. offers its services to individuals desiring to...Problem 4.18EX:
Identifying permanent accounts Which of the following accounts will usually appear in the...Problem 4.19EX:
Post-closing trial balance An accountant prepared the following post-closing trial balance: Security...Problem 4.20EX:
Steps in the accounting cycle Rearrange the following steps in the accounting cycle in proper...Problem 4.21EX:
Appendix 1 Completing an end-of-period spreadsheet List (A) through (J) in the order they would be...Problem 4.23EX:
Appendix 1 Completing an end-of-period spreadsheet Alert Security Services Co. offers security...Problem 4.27EX:
Appendix 2 Reversing entry The following adjusting entry for accrued wages was recorded on December...Problem 4.28EX:
Appendix 2 Adjusting and reversing entries On the basis of the following data, (A) journalize the...Problem 4.29EX:
Appendix 2 Adjusting and reversing entries On the basis of the following data, (A) journalize the...Problem 4.30EX:
Appendix 2 Entries posted to wages expense account Portions of the wages expense account of a...Problem 4.31EX:
Appendix 2 Entries posted to wages expense account Portions of the salaries expense account of a...Problem 4.1APR:
Financial statements and closing entries Lamp Light Company maintains and repairs warning lights,...Problem 4.2APR:
Financial statements and closing entries Foxy Investigative Services is an investigative services...Problem 4.3APR:
T accounts, adjusting entries, financial statements, and closing entries; optional end-of-period...Problem 4.4APR:
Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet...Problem 4.5APR:
Complete accounting cycle For the past several years, Steffy Lopez has operated a part-time...Problem 4.1BPR:
Financial statements and closing entries Last Chance Company offers legal consulting advice to...Problem 4.2BPR:
Financial statements and closing entries The Gorman Group is a financial planning services firm...Problem 4.4BPR:
Ledger accounts, adjusting entries, financial statements, and closing entries; optional...Problem 4.5BPR:
Complete accounting cycle For the past several years, Jeff Horton has operated a part-time...Problem 1CP:
The unadjusted trial balance of PS Music as of July 31, 2018, along with the adjustment data for the...Problem 1COP:
Kelly Pitney began her consulting business, Kelly Consulting, on April 1, 2018. The accounting cycle...Problem 4.1ADM:
Continuing Company Analysis- Amazon: Working capital and current ratio Amazon.com, Inc. is the...Problem 4.2ADM:
Under Armour: Current ratio The following year-end data were taken from recent balance sheets of...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, And Contingencies
Chapter 11 - Liabilities: Bonds PayableChapter 12 - Corporations: Organization, Stock Transactions, And DividendsChapter 13 - Statement Of Cash FlowsChapter 14 - Financial Statement AnalysisChapter FS - Financial Statements For Mornin' Joe InternationalChapter C - International Financial Reporting Standards (ifrs)Chapter D - Investments
Book Details
Close the gap between homework and exam performance with Warren/Reeve/Duchac's CORPORATE FINANCIAL ACCOUNTING 14E and CengageNOWv2! Market-leading CORPORATE FINANCIAL ACCOUNTING has been on the forefront of innovation and change based on the needs of today's teaching and learning environment. Warren/Reeve/Duchac's CORPORATE FINANCIAL ACCOUNTING 14E, now available as a bundle option with CengageNOWv2, helps elevate student thinking with content that addresses each stage of the learning process from motivation to mastery. This integrated system motivates students to learn, provides practice opportunities to better prepare for exams, and helps students achieve mastery with tools to help them make connections and see the big picture. The Complete Learning System in CORPORATE FINANCIAL ACCOUNTING and CengageNOWv2 is built around the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course. New content includes author-written Dynamic Exhibits that allow students to see connections and relationships like never before! Dynamic Exhibits allow students to change the variables in a scenario and see how a change ripples through the accounting system, helping students understand how concepts relate to one another. In addition to the many new digital assets created for this edition, the textbook content itself has also been revised to include the new revenue recognition standard and a greater emphasis on service companies in the managerial accounting chapters. The end goal of Warren/Reeve/Duchac's CORPORATE FINANCIAL ACCOUNTING and CengageNOWv2 is to elevate thinking and create more empowered and prepared students - ready to take on the rest of their educational and career goals.
Sample Solutions for this Textbook
We offer sample solutions for Corporate Financial Accounting 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 1.3ADMChapter 2, Problem 1DQChapter 2, Problem 2.3APR
Chapter 2, Problem 2.4APRChapter 2, Problem 2.3BPRChapter 2, Problem 2.4BPRChapter 2, Problem 1CPChapter 3, Problem 1DQChapter 3, Problem 3.3APRChapter 3, Problem 3.5APRChapter 3, Problem 3.2BPRChapter 3, Problem 3.3BPRChapter 3, Problem 3.5BPRChapter 3, Problem 1CPExplanation: First, a worksheet records the account balances transferred from the adjusted trial...Chapter 4, Problem 4.4APRChapter 4, Problem 4.5APRChapter 4, Problem 4.4BPRChapter 4, Problem 4.5BPRChapter 4, Problem 1CPChapter 4, Problem 1COPThe following table shows the differences between a merchandising businesses from a service...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 2COPExplanation: This procedure of reconciliation verifies that the inventory matches with the type and...Chapter 6, Problem 6.3APRChapter 6, Problem 6.4APRChapter 6, Problem 6.5APRChapter 6, Problem 6.4BPRChapter 6, Problem 6.5BPRChapter 6, Problem 6.2ADMExplanation: Five elements of internal control: Control Environment: Control Environment refers to...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...Chapter 9, Problem 9.2BPRChapter 9, Problem 9.3BPRChapter 9, Problem 9.5BPRChapter 10, Problem 1DQChapter 10, Problem 10.2APRChapter 10, Problem 10.3APRWorking notes: Calculate the amount of social security taxes payable as below: Social security...Chapter 10, Problem 10.3BPRExplanation: The following are the journal entries. 20Y5 Particulars Debit ($) Credit ($) January 3...Chapter 11, Problem 1DQChapter 11, Problem 11.1APRCash is an asset and it is increased. So, debit it by $26,625,925. Premium on Bonds Payable is an...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 1DQChapter 12, Problem 12.10EXChapter 12, Problem 12.4APRChapter 12, Problem 12.5APRChapter 12, Problem 12.4BPRChapter 12, Problem 12.5BPRChapter 13, Problem 1DQChapter 13, Problem 13.17EXExplanation: Working notes: Calculate increase or decrease in merchandise inventories: Increase or...Explanation: Working notes: Calculate the amount of cash received from customers: (Cash received...Explanation: Working notes: Calculate the amount of cash received from customers: (Cash received...Company AT has more revenue of $132,447 which is more than the revenue of Company F of revenue...Chapter 14, Problem 1DQCompute working capital. Current ratio=Current assets–Current liabilities= $1,650,000 –...Chapter 14, Problem 14.4APRChapter 14, Problem 14.3BPRChapter 14, Problem 14.4BPRChapter 14, Problem 14.5BPRChapter 14, Problem 14.1FSAComparison of financial statement terms used in GAAP that contrast with IFRS: GAAP Financial...Table is prepared as follows (amounts in millions of dollars): FIFO less LIFO IFRS Net Income FIFO...Explanation: Due to tremendous growth in international commerce, the companies require to report to...(a) Prepare journal entry for purchase of $120,000, 5% bonds of I Incorporation at 100% with an...1) Prepare journal entry for the purchase of 1,000 shares of Company T at $85 per share and a...
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Bundle: Corporate Financial Accounting, Loose-leaf Version, 13th + Lms Integrated For Cengagenow, 1 Term Printed Access Card
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EBK CORPORATE FINANCIAL ACCOUNTING
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CORPORATE FINANCIAL ACCT-ACCESS>CUSTOM<
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Corporate Financial Accounting
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CORPORATE FIN.ACCT.-ACCESS >CUSTOM<
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Study Guide Ch Cf1-cf15-corporate Financial Accounting
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CORPORATE FINANCIAL ACCT - 15TH ED
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Corporate Financial Accounting
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