CUSTOM PKG FOR AC11427th EditionWARREN Publisher: CENGAGE LISBN: 9781337781923
CUSTOM PKG FOR AC114
Solutions for CUSTOM PKG FOR AC114
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 7DQ:
Assume that when a purchase of supplies of 2,650 for cash was recorded, both the debit and the...Problem 8DQ:
Assume that Muscular Consulting erroneously recorded the payment of 7,500 of owner withdrawals as a...Problem 9DQ:
Assume that Sunshine Realty Co. borrowed 300,000 from Columbia First Rank and Trust. In recording...Problem 10DQ:
Checking accounts are a common form of deposits for banks. Assume that Surety Storage has a checking...Problem 2.1APE:
Rules of debit and credit and normal balances State for each account whether it is likely to have...Problem 2.1BPE:
Rules of debit and credit and normal balances State for each account whether it is likely to have...Problem 2.2APE:
Journal entry for asset purchase Prepare a journal entry for the purchase of office equipment on...Problem 2.2BPE:
Journal entry for asset purchase Prepare a journal entry for the purchase of office supplies on...Problem 2.3APE:
Journal entry for fees earned Prepare a journal entry on April 30 for fees earned on account,...Problem 2.3BPE:
Journal entry for fees earned Prepare a journal entry on August 13 for cash received for services...Problem 2.4APE:
Journal entry for owner's withdrawal Prepare a journal entry on December 23 for the withdrawal of...Problem 2.4BPE:
Journal entry for owner's withdrawal Prepare a journal entry on June 30 for the withdrawal of 11,500...Problem 2.5BPE:
Missing amount from an account On August 1, the supplies account balance was 1,025. During August,...Problem 2.6APE:
Trial balance errors For each of the following errors, considered individually, indicate whether the...Problem 2.6BPE:
Trial balance errors For each of the following errors, considered individually, indicate whether the...Problem 2.7APE:
Correcting entries The following errors took place in journalizing and posting transactions: a.Rent...Problem 2.7BPE:
Correcting entries The following errors took place in journalizing and posting transactions: a.The...Problem 2.8APE:
Horizontal analysis Two income statements for Fuller Company follow: Fuller Company Income...Problem 2.8BPE:
Horizontal analysis Two income statements for Paragon Company follow: Paragon Company Income...Problem 2.1EX:
Chart of accounts The following accounts appeared in recent financial statements of Delta Air Lines:...Problem 2.2EX:
Chart of accounts Oak Interiors is owned and operated by Fred Biggs, an interior decorator. In the...Problem 2.3EX:
Chart of accounts Outdoor Leadership School is a newly organized business that teaches people how to...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, Midwest Labs Co. has a substantial number of...Problem 2.6EX:
Normal balances of accounts Identify each of the following accounts of Dispatch Services Co. as...Problem 2.7EX:
Transactions Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts...Problem 2.8EX:
Journalizing and posting On September 18, 2019, Afton Company purchased 2,475 of supplies on...Problem 2.9EX:
Transactions and T accounts The following selected transactions were completed during August of the...Problem 2.11EX:
Account balances a.During February, 186,500 was paid to creditors on account, and purchases on...Problem 2.12EX:
Capital account balance As of January 1, Terrace Waters, Capital had a credit balance of 500,000....Problem 2.13EX:
Identifying transactions National Park Tours Co. is a travel agency. The nine transactions recorded...Problem 2.14EX:
Journal entries Based upon the T accounts in Exercise 213, prepare the nine journal entries from...Problem 2.15EX:
Trial balance Based upon the data presented in Exercise 213, (a) prepare an unadjusted trial...Problem 2.16EX:
Trial balance The accounts in the ledger of Hickory Furniture Company as of December 31, 2019, are...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 2.20EX:
Errors in trial balance Identify the errors in the following trial balance. All accounts have normal...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 Connie Young, an architect, opened an office on October 1,...Problem 2.2APR:
Journal entries and trial balance On January 1, 2019, Sharon Matthews established Tri-City Realty,...Problem 2.3APR:
Journal entries and trial balance On June 1, 2019, Kris Storey established an interior decorating...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 Colby Group has the following unadjusted trial balance as of August 31,...Problem 2.1BPR:
Entries into T accounts and trial balance Ken jones, an architect, opened an office on April 1,...Problem 2.2BPR:
Journal entries and trial balance On August 1, 2019, Rafael Masey established Planet Realty, which...Problem 2.3BPR:
Journal entries and trial balance On October 1, 2019, 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...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 SystemsChapter 6 - Accounting For Merchandising BusinessesChapter 7 - InventoriesChapter 8 - Internal Control And CashChapter 9 - ReceivablesChapter 10 - Long-term Assets: Fixed And Intangible
Chapter 11 - Current Liabilities And PayrollChapter 12 - Accounting For Partnerships And Limited Liability CompaniesChapter 13 - Corporations: Organization, Stock Transactions, And DividendsChapter 14 - Long-term Liabilities: Bonds And NotesChapter 15 - Investments And Fair Value AccountingChapter 16 - Statement Of Cash FlowsChapter 17 - Financial Statement AnalysisChapter 18 - Introduction To Managerial AccountingChapter 19 - Job Order CostingChapter 20 - Process Cost SystemsChapter 21 - Cost-volume-profit AnalysisChapter 22 - BudgetingChapter 23 - Evaluating Variances From Standard CostsChapter 24 - Decentralized OperationsChapter 25 - Differential Analysis, Product Pricing, And Activity-based CostingChapter 26 - Capital Investment Analysis
Sample Solutions for this Textbook
We offer sample solutions for CUSTOM PKG FOR AC114 homework problems. See examples below:
Chapter 1, Problem 1DQChapter 1, Problem 1.3APEChapter 1, Problem 1.3BPEChapter 1, Problem 1.12EXChapter 1, Problem 1.5APRChapter 1, Problem 1.6APRChapter 1, Problem 1.5BPRChapter 1, Problem 1.6BPRChapter 2, Problem 1DQ
Chapter 2, Problem 2.2APRChapter 2, Problem 2.3APRChapter 2, Problem 2.4APRChapter 2, Problem 2.3BPRChapter 2, Problem 2.4BPRChapter 2, Problem 1COPChapter 3, Problem 1DQChapter 3, Problem 3.3APRChapter 3, Problem 3.4APRChapter 3, Problem 3.5APRExplanation: Working note: Calculate the value of supplies expense Supplies expense = (The amount of...Chapter 3, Problem 3.3BPRChapter 3, Problem 3.4BPRChapter 3, Problem 3.5BPRChapter 4, Problem 1DQChapter 4, Problem 4.3APRChapter 4, Problem 4.4APRChapter 4, Problem 4.5APRChapter 4, Problem 4.3BPRChapter 4, Problem 4.4BPRChapter 4, Problem 4.5BPRChapter 4, Problem 1CPPChapter 5, Problem 1DQChapter 5, Problem 5.2APRChapter 5, Problem 5.3APRChapter 5, Problem 5.4APRChapter 5, Problem 5.2BPRChapter 5, Problem 5.3BPRChapter 5, Problem 5.4BPRChapter 6, Problem 1DQChapter 6, Problem 6.1APRChapter 6, Problem 6.2APRChapter 6, Problem 6.3APRChapter 6, Problem 6.4APRChapter 6, Problem 6.1BPRChapter 6, Problem 6.2BPRChapter 6, Problem 6.3BPRChapter 6, Problem 6.4BPRChapter 6, Problem 2COPExplanation: This procedure of reconciliation verifies that the inventory matches with the type and...Explanation: The inventory turnover ratio is calculated by dividing cost of goods sold by average...Chapter 7, Problem 7.3APRChapter 7, Problem 7.4APRChapter 7, Problem 7.5APRChapter 7, Problem 7.4BPRChapter 7, Problem 7.5BPRChapter 7, Problem 7.7CPInternal 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...The deposits which are not recorded by the bank are referred to as deposits in transit. Since the...The deposits which are not recorded by the bank are referred to as deposits in transit. Since the...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....The deposits which are not recorded by the bank are referred to as deposits in transit. Since the...Chapter 9, Problem 1DQChapter 9, Problem 9.13EXChapter 9, Problem 9.14EXChapter 9, Problem 9.1APRChapter 9, Problem 9.4APRChapter 9, Problem 9.6APRChapter 9, Problem 9.1BPRChapter 9, Problem 9.4BPRChapter 10, Problem 1DQChapter 10, Problem 10.9APEChapter 10, Problem 10.9BPEChapter 10, Problem 10.11EXChapter 10, Problem 10.3APRChapter 10, Problem 10.5APRChapter 10, Problem 10.3BPRChapter 10, Problem 10.5BPRChapter 11, Problem 1DQChapter 11, Problem 11.1APRChapter 11, Problem 11.3APRChapter 11, Problem 11.5APRExplanation: Working notes: Calculate interest expense for discounted notes. Interest expense =...Chapter 11, Problem 11.3BPRExplanation: The following are the journal entries. 20Y5 Particulars Debit ($) Credit ($) January 3...Proprietorships: Proprietorship is a form of organization, which is owned, and controlled by an...Explanation: Working Notes for determining the division of net income between partner M and G under...Explanation: The income statement for 20Y3 of L&Y is as follows: L &Y Income Statement For...Explanation: Working Notes: Calculation of Allowances for Doubtful Accounts – Allowance for doubtful...Explanation: Working Notes for determining the division of net income between partner H and N under...Explanation: The income statement for 20Y2 of R&X is as follows: R&X Income Statement For...Explanation: Working Notes: Calculation of Allowances for Doubtful Accounts – Allowance for doubtful...Chapter 13, Problem 1DQExplanation: Record the declaration and issuance of stock dividends. Transaction Number Account...Chapter 13, Problem 13.3APRChapter 13, Problem 13.4APRChapter 13, Problem 13.5APRChapter 13, Problem 13.4BPRChapter 13, Problem 13.5BPRChapter 14, Problem 1DQExplanation: Determine Earnings per share of common stock. Particulars Plan 1 Plan 2 Plan 3 Net...Chapter 14, Problem 14.2APRExplanation: Prepare journal entry for cash proceeds from the issuance of the bonds on July 1, Year...Chapter 14, Problem 14.4APRChapter 14, Problem 14.1BPRChapter 14, Problem 14.3BPRChapter 14, Problem 14.4BPRChapter 15, Problem 1DQExplanation: Prepare journal entry for purchase of $100,000 bonds of Company W, at face amount with...Chapter 15, Problem 15.2APRChapter 15, Problem 15.3APRExplanation: Prepare journal entry for purchase of $100,000 bonds of Company SB, at face amount with...Explanation: Prepare journal entry for the purchase of 4,800 shares of Company AP, at $26 per share,...Chapter 15, Problem 15.3BPRStatement of cash flows: It is one of the financial statement, that shows the inflow and outflow of...Explanation: Working note: Prepare the schedule in the changes of current assets and liabilities....Chapter 16, Problem 16.21EXExplanation: Working notes: Calculate the amount of cash received from customers: (Cash received...Chapter 16, Problem 16.23EXChapter 16, Problem 16.3APRExplanation: Working note: Prepare the schedule in the changes of current assets and liabilities....Financial Ratios: Financial ratios are the metrics used to evaluate the liquidity, profitability,...Chapter 17, Problem 17.17EXChapter 17, Problem 17.19EXChapter 17, Problem 17.20EXExplanation: Working capital is the difference between current assets and current liabilities....Chapter 17, Problem 17.4APRChapter 17, Problem 17.3BPRChapter 17, Problem 17.4BPRChapter 18, Problem 1DQChapter 18, Problem 18.4EXChapter 18, Problem 18.4APRChapter 18, Problem 18.4BPRChapter 19, Problem 1DQChapter 19, Problem 19.12EXChapter 19, Problem 19.16EXChapter 19, Problem 19.2APRChapter 19, Problem 19.2BPRChapter 19, Problem 19.2CPChapter 20, Problem 1DQChapter 20, Problem 20.1APRChapter 20, Problem 20.2APRChapter 20, Problem 20.3APRChapter 20, Problem 20.4APRChapter 20, Problem 20.1BPRChapter 20, Problem 20.2BPRChapter 20, Problem 20.4BPRChapter 21, Problem 1DQExplanation: Determine the total variable cost. Particulars Total cost (A) Variable cost percentage...Chapter 21, Problem 21.5APRChapter 21, Problem 21.6APRExplanation: Determine the total variable cost. Particulars Total cost (A) Variable cost percentage...Explanation: Determine the break-even point in sales units for the overall Product E. Fixed cost...Chapter 21, Problem 21.6BPRExplanation: The three major objectives of budgeting are described below: To set the goals for the...Chapter 22, Problem 22.2APRChapter 22, Problem 22.3APRChapter 22, Problem 22.5APRChapter 22, Problem 22.2BPRChapter 22, Problem 22.3BPRChapter 23, Problem 1DQChapter 23, Problem 23.6APEChapter 23, Problem 23.6BPEChapter 23, Problem 23.14EXChapter 23, Problem 23.5APRExplanation: Determine the direct labor time variance. Direct labor time variance} = [(Actual direct...Chapter 23, Problem 5CPPChapter 24, Problem 1DQChapter 24, Problem 24.5EXExplanation: Determine ROI of MN Segment, if income from operations is $7,321,000,000, sales are...Chapter 24, Problem 24.16EXChapter 24, Problem 24.4APRChapter 24, Problem 24.2BPRChapter 24, Problem 24.4BPRChapter 25, 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 26, Problem 1DQChapter 26, Problem 26.23EXChapter 26, Problem 26.6APRChapter 26, Problem 26.6BPR
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