CORPORATE FINANCIAL ACCOUNTING 15TH ED15th EditionCarl S. Warren Publisher: CENGAGE LISBN: 9781337894272
CORPORATE FINANCIAL ACCOUNTING 15TH ED
Solutions for CORPORATE FINANCIAL ACCOUNTING 15TH ED
Problem 2DQ:
Describe the nature of the assets that compose the following sections of a balance sheet: (A)...Problem 9DQ:
Which step of the accounting cycle is optional?Problem 4.1BE:
Flow of accounts into financial statements The balances for the accounts that follow appear in the...Problem 4.2BE:
Statement of stockholders equity Scott Lockhart owns and operates AAA Delivery Services. On January...Problem 4.3BE:
Classified balance sheet The following accounts appear in an adjusted trial balance of San Jose...Problem 4.4BE:
Closing entries After the accounts have been adjusted at November 30, the end of the fiscal year,...Problem 4.5BE:
Accounting cycle From the following list of steps in the accounting cycle, identify what two steps...Problem 4.6BE:
Working capital and current ratio Current assets and current liabilities for HQ Properties Company...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 Demo 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 (FDX) had the following revenue and expense account balances (in...Problem 4.8EX:
Statement of stockholders equity Climate Control Systems Co. offers its services to residents in the...Problem 4.9EX:
Statement of stockholders equity; net loss Selected accounts from the ledger of Restoration Arts for...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 4.13EX:
Balance sheet The following balance sheet was prepared by Labyrinth Services Co. for its year ended...Problem 4.14EX:
Identifying accounts to be closed From the list that follows, identify the accounts that should be...Problem 4.15EX:
Closing entries with net income Automation Services Co. offers its services to companies desiring to...Problem 4.16EX:
Closing entries with net loss Summit Services Co. offers its services to individuals desiring to...Problem 4.17EX:
Identifying permanent accounts Which of the following accounts will usually appear in the...Problem 4.18EX:
Post-closing trial balance An accountant prepared the following post-closing trial balance: Security...Problem 4.19EX:
Steps in the accounting cycle Rearrange the following steps in the accounting cycle in proper...Problem 4.20EX:
Appendix 1 Completing an end-of-period spreadsheet List (A) through (J) in the order they would be...Problem 4.21EX:
Appendix 1 Adjustment data on an end-of-period spreadsheet Alert Security Services Co. offers...Problem 4.23EX:
Appendix 1 Financial statements from an end-of-period spreadsheet Based on the data in Exercise...Problem 4.24EX:
Appendix 1 Adjusting entries from an end-of-period spreadsheet Based on the data in Exercise 4-21,...Problem 4.25EX:
Appendix 1 Closing entries from an end-of-period spreadsheet Based on the data in Exercise 4-22,...Problem 4.26EX:
Appendix 2 Reversing entry The following adjusting entry for accrued wages was recorded on December...Problem 4.27EX:
Appendix 2 Adjusting and reversing entries On the basis of the following data, (A) journalize the...Problem 4.28EX:
Appendix 2 Adjusting and reversing entries On the basis of the following data, (A) journalize the...Problem 4.29EX:
Appendix 2 Entries posted to wages expense account Portions of the wages expense account of a...Problem 4.30EX:
Appendix 2 Entries posted to wages expense account Portions of the salaries expense account of a...Problem 4.1APR:
Financial statements and closing entries 8.Net income 33,425 Beacons Company maintains and repairs...Problem 4.2APR:
Financial statements and closing entries Foxy Investigative Services is an investigative services...Problem 4.3APR:
accounts, adjusting entries, financial statements, and closing entries; optional end-of-period...Problem 4.4APR:
Net Income: 51,150 Ledger accounts, adjusting entries, financial statements, and closing entries;...Problem 4.5APR:
Net income: 43,475 Complete accounting cycle For the past several years, Jeff Horton has operated a...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 4.3BPR:
Income: 27,350 accounts, adjusting entries, financial statements, and closing entries; optional...Problem 4.4BPR:
Ledger accounts, adjusting entries, financial statements, and closing entries; optional...Problem 4.5BPR:
Net income: 53,77S Complete accounting cycle For the past several years, Jeff Horton has operated a...Problem 1COP:
Comprehensive Problem 1 8 Net income. 31,425 Kelly Pitney began her consulting business. Kelly...Problem 4.1MAD:
Working Capital and Current Ratio Analyze and compare Amazon.com to Best Buy Amazon.com, Inc. (AMZN)...Problem 4.2MAD:
Analyze and compare Zynga, Electronic Arts, and Take-Two Data (in millions) from recent financial...Problem 4.3MAD:
Analyze and compare Foot Locker and The Finish Line The Foot Locker, Inc. (FL) and The Finish Line,...Problem 4.4MAD:
Analyze Under Armour The following year-end data were taken from recent balance sheets, of Under...Problem 4.6MAD:
Analyze and compare Alphabet (Google) and Microsoft Alphabet Inc. (GOOG) and Microsoft Corporation...Browse All Chapters of This Textbook
Chapter 1 - Introduction To Accounting And BusinessChapter 2 - Analyzing TransactionsChapter 3 - The Adjusting ProcessChapter 4 - The Accounting CycleChapter 5 - Accounting For Retailing BusinessesChapter 6 - InventoriesChapter 7 - Internal Control And CashChapter 8 - ReceivablesChapter 9 - Long-Term Assets: Fixed And IntangibleChapter 10 - Liabilities: Current, Installment Notes, And Contingencies
Sample Solutions for this Textbook
We offer sample solutions for CORPORATE FINANCIAL ACCOUNTING 15TH ED homework problems. See examples below:
Chapter 1, Problem 1DQChapter 1, Problem 1.3BEChapter 1, Problem 1.12EXChapter 1, Problem 1.5APRChapter 1, Problem 1.6APRChapter 1, Problem 1.5BPRChapter 1, Problem 1.6BPRChapter 2, Problem 1DQChapter 2, Problem 2.2APR
Chapter 2, Problem 2.3APRChapter 2, Problem 2.4APRChapter 2, Problem 2.3BPRChapter 2, Problem 2.4BPRChapter 2, Problem 1CPChapter 3, Problem 1DQExplanation: An adjusting entry for accrued fees: In this case, the Company AC recognized the fees...Chapter 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 4.3APRChapter 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 5.1APRChapter 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 6.4APRChapter 6, Problem 6.5APRChapter 6, Problem 6.4BPRChapter 6, Problem 6.5BPRExplanation: The inventory turnover ratio for Company T is calculated as follows: Inventory...Chapter 6, Problem 6.3MADExplanation: 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 8.1BPRChapter 8, Problem 8.4BPRChapter 9, Problem 1DQChapter 9, Problem 9.3APRChapter 9, Problem 9.4APRChapter 9, Problem 9.5APRChapter 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 interest expense for discounted notes. Interest expense = Principal...Working 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 11.1APRExplanation: Bonds: Bonds are long-term promissory notes that are represented by a company while...Chapter 11, Problem 11.1BPRChapter 11, Problem 11.2BPRChapter 11, Problem 11.3BPRChapter 12, Problem 1DQChapter 12, Problem 12.3APRExplanation: Journal entry: Journal entry is a set of economic events which can be measured in...Chapter 12, Problem 12.5APRExplanation: Journal entry: Journal entry is a set of economic events which can be measured in...Chapter 12, Problem 4COPChapter 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...Explanation: Company AT has more revenue of $163,786 which is more than the revenue of Company F of...Chapter 14, Problem 1DQCompute working capital. Current ratio=Current assets–Current liabilities= $1,650,000 –...Chapter 14, Problem 14.4APRChapter 14, Problem 14.5APRChapter 14, Problem 14.3BPRChapter 14, Problem 14.4BPRChapter 14, Problem 14.5BPRExplanation: Due to tremendous growth in international commerce, the companies require to report to...Prepare journal entry for the purchase of 4,000 shares of Company A at $50 price per share and a...Chapter D, Problem D.2EX
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