Financial Accounting for Undergraduates2nd EditionFERRIS Publisher: CambridgeISBN: 9781618530400
Financial Accounting for Undergraduates
Solutions for Financial Accounting for Undergraduates
Browse All Chapters of This Textbook
Chapter 1 - Financial Accounting And Business DecisionsChapter 2 - Processing Accounting InformationChapter 3 - Accrual Basis Of AccountingChapter 4 - Understanding Financial StatementsChapter 5 - Accounting For Merchandising OperationsChapter 6 - Accounting For InventoryChapter 7 - Internal Control And CashChapter 8 - Accounting For ReceivablesChapter 9 - Accounting For Long-lived And Intangible AssetsChapter 10 - Accounting For Liabilities
Book Details
From the Authors: Financial Accounting for Undergraduates, Second Edition is intended for use in the first financial accounting course at the undergraduate level; one that balances the preparation of financial statements with their interpretation and use. This book teaches students how to read, analyze, and interpret financial accounting data to make informed business decisions. We believe students become more engaged in the course when they see how the content pertains to their everyday lives. Once engaged in the course, students perform much better and enjoy the class more.
Sample Solutions for this Textbook
We offer sample solutions for Financial Accounting for Undergraduates homework problems. See examples below:
a. Sole proprietorship: It is one form of simple business that is owned and maintained by a single...Financial statements: Financial statements are condensed summary of transactions communicated in the...Financial statements: Financial statements are condensed summary of transactions communicated in the...Balance sheet: This financial statement reports a company’s resources (assets) and claims of...Balance sheet: This financial statement reports a company’s resources (assets) and claims of...Balance sheet: Balance is the financial statement that reports a company’s resources (assets) and...Debit: The condensed form of a ledger is referred to as T-account. The left-hand side of this...Accounting Cycle: Accounting cycle refers to the process of recording a business transaction in the...T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this...
Transaction analysis: Transaction analysis is an economic event that causes impact on the value of...Transaction analysis: Transaction analysis is an economic event that causes impact on the value of...Journal: Journal is the method of recording monetary business transactions in chronological order....Rules of Debit and Credit: Following rules are followed for debiting and crediting different...Transaction analysis: Transaction analysis is an economic event that causes impact on the value of...Financial statements: Financial statements are condensed summary of transactions communicated in the...General ledger: General ledger is a ledger which is used to summarize all the entries of the...General ledger: General ledger is a book of original entry which records the accounting data in the...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Financial statements: Financial statements are condensed summary of transactions communicated in the...General ledger: General ledger is a ledger which is used to summarize all the entries of the...General ledger: General ledger is a book of original entry which records the accounting data in the...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Trial balance: Trial balance is the summary of accounts, and their debit and credit balances at a...Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Unadjusted trial balance: Unadjusted trial balance is a statement which contains complete list of...Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Classified balance sheet: The main elements of balance sheet assets, liabilities, and stockholders’...Adjusting Entries Adjusting entries are the journal entries that are adjusted at the end of the...Adjusting Entries Adjusting entries are the journal entries that are adjusted at the end of the...Return on sales ratio: The ratio which evaluates the amount of net income earned for every dollar of...Return on sales ratio: The ratio which evaluates the amount of net income earned for every dollar of...a) Return on sales ratio: The ratio which evaluates the amount of net income earned for every dollar...Merchandise Inventory: Merchandise is the stock of goods bought by a wholesaler, or a retailer, or a...Perpetual Inventory System: Perpetual Inventory System refers to the inventory system that maintains...Perpetual Inventory System: Perpetual Inventory System refers to the inventory system that maintains...Perpetual Inventory System: Perpetual Inventory System refers to the inventory system that maintains...Periodic inventory system: The method or system of recording the transactions related to inventory...Perpetual Inventory System: Perpetual Inventory System refers to the inventory system that maintains...Perpetual inventory system: The method or system of maintaining, recording, and adjusting the...Periodic inventory system: The method or system of recording the transactions related to inventory...Justification for incorrect option: a. The quick response method is used by the manufacturers and...Perpetual inventory system: The method or system of maintaining, recording, and adjusting the...Perpetual inventory system: The method or system of maintaining, recording, and adjusting the...Perpetual Inventory System refers to the inventory system that maintains the detailed records of...Periodic inventory system: The method or system of recording the transactions related to inventory...Perpetual Inventory System refers to the inventory system that maintains the detailed records of...Perpetual Inventory System refers to the inventory system that maintains the detailed records of...Perpetual Inventory System refers to the inventory system that maintains the detailed records of...Periodic inventory system: The method or system of recording the transactions related to inventory...Perpetual Inventory System refers to the inventory system that maintains the detailed records of...Perpetual Inventory System refers to the inventory system that maintains the detailed records of...Periodic inventory system: The method or system of recording the transactions related to inventory...Fraud: Fraud is a deliberate and deceptive action of an employee to obtain unlawful gain from the...Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from...Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from...Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from...Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from...Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Prepare the journal entries to record the sales for an account. DateAccount Title and Explanation...Allowance method: It is a method for accounting bad debt expense, where uncollectible accounts...Prepare the journal entries to record the sales for an account. DateAccount Title and Explanation...Acquisition Cost: Acquisition cost is the total cost (any cash expensed to prepare the asset for its...Basket Purchase: For maintaining one purchase price, a company buys a group of assets at the same...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Disposal of Assets: Disposal is an activity of selling the worn-out assets that is no longer in need...Disposal of Assets: Disposal is an activity of selling the worn-out assets that is no longer in need...Plant Assets: Plant assets are the long-term assets used by the company, which have physical...Basket Purchase: For maintaining one purchase price, a company buys a group of assets at the same...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Disposal of Assets: Disposal is an activity of selling the worn-out assets that is no longer in need...Accrued interest: Accrued interest is the outstanding interest expense in the accounting period, as...Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from...Bonds: A bond (long term debt) is a written document and a signed promise to pay interest...Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from...Bonds: A bond (long term debt) is a written document and a signed promise to pay interest...Payroll taxes: Payroll taxes are the types of taxes normally calculated as certain percentage of the...Payroll tax: Payroll tax refers to the tax that are equally contributed by employees and employer...Journal: Journal is the method of recording monetary business transactions in chronological order....Amortization of bond: The process of allocation and reduction of the discount or premium on bonds to...Journal: Journal is the method of recording monetary business transactions in chronological order....Amortization of bond: The process of allocation and reduction of the discount or Discount on bonds...Corporation: A business concern where there is a separate legal entity, and are owned by...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this...T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this...Cash dividend: The amount of cash provided by a corporation out of its distributable profits to its...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this...Statement of stockholder’ equity: This statement reports the beginning stockholders’ equity and all...Option (a): A transfer of cash to a cash equivalent investment is not a part of the statement of...Calculate the change in cash during 2013. Cash balance as of 31st December 2012 is $5,000 Cash...Calculate the change in cash during 2013. Cash balance as of 31st December 2012 is $5,000 Cash...Change in cash =(Cash balance in December 31, 2013−Cash balance in December 31,...Cash balance in December 31, 2012 = $25,000 Cash balance in December 31, 2013 = $19,000 Change in...Calculate the change in cash during 2013. Cash balance as of 31st December 2012 is $37,000 Cash...Calculate the change in cash during 2013. Cash balance as of 31st December 2012 is $37,000 Cash...Change in cash =(Cash balance in December 31, 2013−Cash balance in December 31,...Calculate the change in cash during 2013: Change in cash =(Cash balance in December 31, 2013−Cash...Current ratio: The financial ratio which evaluates the ability of a company to pay off the debt...Income statement: The financial statement which reports revenues and expenses from business...Current ratio: Current ratio is one of the liquidity ratios, which measures the capacity of the...Prepare income statement of Company O as follows: Company OIncome StatementFor the Year Ended...1. Quick ratio: It is a ratio used to determine a company’s ability to pay back its current...Prepare income statement of Company T as follows: Company TIncome StatementFor the Year Ended...1) Return on sales ratio: The ratio which evaluates the amount of net income earned for every dollar...1. Quick ratio: It is a ratio used to determine a company’s ability to pay back its current...Trend Analysis: Trend analysis is type of horizontal analysis used to calculate the changes in...1. Gross profit percentage: The percentage of gross profit generated by every dollar of net sales is...a) Return on sales ratio: The ratio which evaluates the amount of net income earned for every dollar...Financial Ratios: Financial ratios are the tools used to evaluate the liquidity, capabilities,...
More Editions of This Book
Corresponding editions of this textbook are also available below:
FINANCIAL ACCT.F/UNDERGRADS-W/ACCESS
5th Edition
ISBN: 9781618534415
FINANCIAL ACCT.F/UNDERGRADS-W/ACCESS
1st Edition
ISBN: 9781618531612
Financial Accounting for Undergr. -Text Only (Instructor's)
3rd Edition
ISBN: 9781618531629
FINANCIAL+MANAGERIAL ACCT....-W/ACCESS
2nd Edition
ISBN: 9781618533104
Financial Accounting For Undergraduates, 4e
4th Edition
ISBN: 9781618533081
FINANCIAL ACCT F/UNDERGRAD ACCESS CODE
4th Edition
ISBN: 2818440056321
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