Financial and Managerial Accounting15th EditionCarl S. Warren; Jefferson P. Jones; William B. Tayler, Ph.D., CMA Publisher: Cengage Learning USISBN: 9780357297162
Financial and Managerial Accounting
Solutions for Financial and Managerial Accounting
Problem 4DQ:
Josh Reilly is the owner of Dispatch Delivery Service. Recently Josh paid interest of 4,500 on a...Problem 5DQ:
On July 12, Reliable Repair Service extended an offer of 150,000 for land that had been priced for...Problem 8DQ:
A business had revenues of 679,000 and operating expenses of 588,000. What was the amount of (A) net...Problem 9DQ:
A business had revenues of 640,000 and operating expenses of 715,000. What was the amount of (A) net...Problem 10DQ:
The financial statements are interrelated. (A) What item of financial or operating data appears on...Problem 2BE:
Accounting equation Be-The-One is a motivational consulting business. At the end of its accounting...Problem 3BE:
Transactions Interstate Delivery Service is owned and operated by Katie Wyer. The following selected...Problem 4BE:
Income statement The revenues and expenses of Paradise Travel Service for the year ended May 31,...Problem 5BE:
Statement of stockholders equity Using the income statement for Paradise Travel Service from Basic...Problem 6BE:
Balance sheet Using the following data for Paradise Travel Service as well as the statement of...Problem 7BE:
Statement of cash flows A summary of cash flows for Paradise Travel Service for the year ended May...Problem 8BE:
Ratio of liabilities to stockholders equity The following data were taken from Alvarado Companys...Problem 4E:
Accounting equation The total assets and total liabilities (in millions) of McDonalds Corporation...Problem 7E:
Accounting equation Inspirational Inc. is a motivational consulting business. At the end of its...Problem 8E:
Asset, liability, and stockholders equity items Indicate whether each of the following is identified...Problem 9E:
Effect of transactions on accounting equation What is the effect of each of the following...Problem 10E:
Effect of transactions on accounting equation A. A vacant lot acquired for 115,000 is sold for...Problem 11E:
Effect of transactions on stockholders equity Indicate whether each of the following types of...Problem 12E:
Transactions The following selected transactions were completed by Cota Delivery Service during...Problem 13E:
Nature of transactions Teri West operates her own catering service. Summary financial data for July...Problem 14E:
Net income and dividends The income statement for the month of February indicates a net income of...Problem 15E:
Net income and stockholders equity for four businesses Four different corporations, Amber, Blue,...Problem 16E:
Balance sheet items From the following list of selected items taken from the records of Bobcat...Problem 17E:
Income statement items Based on the data presented in Exercise 1-16, identify those items that would...Problem 18E:
Statement of stockholders equity Financial information related to Organic Products Company for the...Problem 19E:
Income statement Imaging Services was organized on March 1, 20Y5. A summary of the revenue and...Problem 21E:
Balance sheets, net income Financial information related to Ebony Interiors for February and March...Problem 22E:
Financial statements Each of the following items is shown on the financial statements of Exxon Mobil...Problem 23E:
Statement of cash flows Indicate whether each of the following activities would be reported on the...Problem 24E:
Statement of cash flows A summary of cash flows for Parker Consulting Group for the year ended...Problem 25E:
Financial statements We-Sell Realty was organized as a corporation on August 1, 20Y7, by the...Problem 1PA:
Transactions On April 1 of the current year, Morgan Jones established a business to manage rental...Problem 2PA:
Financial statements The assets and liabilities of Global Travel Agency on December 31, 20Y5, and...Problem 3PA:
Financial statements Seth Feye established Reliance Financial Services on July 1, 20Y2. Reliance...Problem 4PA:
Transactions; financial statements On August 1, 20Y9, Brooke Kline established Western Realty....Problem 5PA:
Transactions; financial statements DLite Dry Cleaners is owned and operated by Joel Palk. A building...Problem 6PA:
Missing amounts from financial statements The financial statements at the end of Wolverine Realtys...Problem 1PB:
Transactions Amy Austin established an insurance agency on March 1 of the current year and completed...Problem 2PB:
PR 1-2 B Financial statements The assets and liabilities of Wilderness Travel Service on April 30,...Problem 3PB:
Financial statements 1. Net income: 10,900 Jose Loder established Bronco Consulting on August 1,...Problem 4PB:
Transactions; financial statements 2. Net income: 10,850 On April 1, 20Y8, Maria Adams established...Problem 5PB:
Transactions; financial statements Bevs Dry Cleaners is owned and operated by Beverly Zahn. A...Problem 6PB:
Missing amounts from financial statements The financial statements at the end of Atlas Realtys first...Problem 1CONP:
Peyton Smith enjoys listening to all types of music and owns countless CDs. Over the years, Peyton...Problem 2MAD:
Analyze The Home Depot for three years The Home Depot, Inc. (HD), is the worlds largest home...Problem 3MAD:
Analyze Lowes for three years Lowes Companies, Inc. (LOW), a major competitor to The Home Depot,...Problem 4MAD:
Compare The Home Depot and Lowes Using your answers for The Home Depot, Inc. (HD) in MAD 1-2 and...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 Retail 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 15 - Introduction To Managerial AccountingChapter 16 - Job Order CostingChapter 17 - Process Cost SystemsChapter 18 - Activity-based CostingChapter 19 - Support Department And Joint Cost AllocationChapter 20 - Cost-volume-profit AnalysisChapter 21 - Variable Costing For Management
analysisChapter 22 - BudgetingChapter 23 - Evaluating Variances From Standard CostsChapter 24 - Evaluating Decentralized OperationsChapter 25 - Differential Analysis And Product PricingChapter 26 - Capital Investment AnalysisChapter 27 - Lean Manufacturing And Activity AnalysisChapter 28 - The Balanced Scorecard And Corporate Social ResponsibilityChapter C - International Financial Reporting Standards (ifrs)Chapter D - Investments
Sample Solutions for this Textbook
We offer sample solutions for Financial and Managerial Accounting homework problems. See examples below:
Users of accounting information: People who rely on accounting information to make best decisions or...Chapter 1, Problem 3BEChapter 1, Problem 12EIncome statement: The financial statement which reports revenues and expenses from business...Chapter 1, Problem 6PAChapter 1, Problem 5PBChapter 1, Problem 6PBChapter 2, Problem 1DQChapter 2, Problem 2PA
Chapter 2, Problem 3PAChapter 2, Problem 4PAChapter 2, Problem 2PBChapter 2, Problem 3PBChapter 2, Problem 4PBChapter 2, Problem 1CONPChapter 3, Problem 1DQChapter 3, Problem 1PAChapter 3, Problem 2PAChapter 3, Problem 5PAChapter 3, Problem 2PBAdjusting Entries Adjusting entries indicates those entries, which are passed in the books of...Chapter 3, Problem 5PBChapter 3, Problem 1CONPChapter 4, Problem 1DQChapter 4, Problem 4PAChapter 4, Problem 5PAChapter 4, Problem 4PBChapter 4, Problem 5PBChapter 4, Problem 1CONPChapter 4, Problem 1COMPRetail Business and Service Business: A retail business generates income by selling goods to its...Chapter 5, Problem 2PAChapter 5, Problem 3PAChapter 5, Problem 4PAChapter 5, Problem 1PBChapter 5, Problem 2PBChapter 5, Problem 3PBChapter 5, Problem 4PBChapter 5, Problem 7PBChapter 5, Problem 1COMPChapter 6, Problem 1DQChapter 6, Problem 3PAChapter 6, Problem 4PAChapter 6, Problem 5PAChapter 6, Problem 4PBChapter 6, Problem 5PBChapter 6, Problem 3MADInternal Control: Internal control refers to the policies, and plans of the business organization...Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,...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...Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,...Bank reconciliation: Bank statement is prepared by bank. The company maintains its own records from...Chapter 8, Problem 1DQChapter 8, Problem 13EChapter 8, Problem 14EChapter 8, Problem 1PAChapter 8, Problem 4PAChapter 8, Problem 1PBNote receivable: Note receivable refers to a written promise received by the creditor from the...Chapter 9, Problem 1DQChapter 9, Problem 3PAChapter 9, Problem 4PAChapter 9, Problem 5PAChapter 9, Problem 2PBChapter 9, Problem 3PBChapter 9, Problem 5PBChapter 10, Problem 1DQChapter 10, Problem 1PAChapter 10, Problem 3PAChapter 10, Problem 1PBChapter 10, Problem 3PBPayroll: The total payment that a company is required to pay to its employee for the services...The following are the journal entries. 20Y5ParticularsDebit ($)Credit ($)January3Petty Cash4,500...Chapter 11, Problem 1DQChapter 11, Problem 1PABonds: Bonds are long-term promissory notes that are represented by a company while borrowing money...Chapter 11, Problem 3PAChapter 11, Problem 1PBBonds: Bonds are long-term promissory notes that are represented by a company while borrowing money...Chapter 12, Problem 1DQChapter 12, Problem 4PACommon stock: These are the ordinary shares that a corporation issues to the investors in order to...Chapter 12, Problem 4PBCommon stock: These are the ordinary shares that a corporation issues to the investors in order to...Chapter 12, Problem 1COMPChapter 13, Problem 1DQChapter 13, Problem 17EStatement of cash flows: It is one of the financial statement that shows the cash and cash...Statement of cash flows: It is one of the financial statement that shows the cash and cash...Statement of cash flows: It is one of the financial statement that shows the cash and cash...Statement of cash flows: Statement of cash flow is a financial statement that shows the cash and...Financial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability,...Chapter 14, Problem 3PAChapter 14, Problem 4PAChapter 14, Problem 5PAChapter 14, Problem 3PBFinancial Ratios: Financial ratios are the metrics used to evaluate the capabilities, profitability,...Chapter 14, Problem 5PBChapter 15, Problem 1DQChapter 15, Problem 4PAChapter 15, Problem 4PBManagerial accounting: Managerial accounting is the process of identifying, measuring, analyzing,...Chapter 16, Problem 1DQChapter 16, Problem 2PAChapter 16, Problem 2PBChapter 16, Problem 3MADChapter 16, Problem 2TIFChapter 17, Problem 1DQChapter 17, Problem 8EChapter 17, Problem 16EChapter 17, Problem 18EChapter 17, Problem 1PAChapter 17, Problem 1PBChapter 17, Problem 4PBChapter 18, Problem 1DQChapter 18, Problem 4EChapter 18, Problem 13EChapter 18, Problem 16EChapter 18, Problem 3PAChapter 18, Problem 3PBChapter 19, Problem 1DQChapter 19, Problem 6EChapter 19, Problem 9EChapter 19, Problem 10EChapter 19, Problem 2PAChapter 19, Problem 2PBChapter 20, Problem 1DQCost-Volume-Profit Analysis: It is a method followed to analyze the relationship between the sales,...Sales mix: It refers to the relative distribution of the total sales among the number of products...Chapter 20, Problem 6PACost-Volume-Profit Analysis: It is a method followed to analyze the relationship between the sales,...Sales mix: It refers to the relative distribution of the total sales among the number of products...Chapter 20, Problem 6PBChapter 21, Problem 1DQChapter 21, Problem 14EChapter 21, Problem 1PAChapter 21, Problem 3PAChapter 21, Problem 1PBChapter 21, Problem 3PBBudgeting: Budgeting is a process to prepare the financial statement by the manager to estimate the...Chapter 22, Problem 5BEChapter 22, Problem 13EChapter 22, Problem 2PAChapter 22, Problem 3PAChapter 22, Problem 2PBChapter 22, Problem 3PBChapter 23, Problem 1DQChapter 23, Problem 6BEChapter 23, Problem 12EChapter 23, Problem 1PAChapter 23, Problem 5PAChapter 23, Problem 1PBDirect material variances: The difference between the actual material cost per unit and the standard...Chapter 24, Problem 1DQChapter 24, Problem 5EProfit margin: This ratio gauges the operating profitability by quantifying the amount of income...Chapter 24, Problem 3PAChapter 24, Problem 4PAChapter 24, Problem 2PBChapter 24, Problem 4PBChapter 25, Problem 1DQChapter 25, Problem 6PAChapter 25, Problem 6PBChapter 25, Problem 1MADChapter 25, Problem 2MADChapter 25, Problem 4MADChapter 26, Problem 1DQChapter 26, Problem 6PAChapter 26, Problem 6PBNet present value method: Net present value method is used to compare the initial cash outflow of...Chapter 27, Problem 1DQChapter 27, Problem 12EChapter 27, Problem 13EChapter 27, Problem 14EChapter 27, Problem 3PAChapter 27, Problem 3PBChapter 28, Problem 1DQChapter 28, Problem 10EChapter 28, Problem 2PAChapter 28, Problem 2PBDue to tremendous growth in international commerce, the companies require to report to the users...Stock investments: Stock investments are equity securities which claim ownership in the investee...Stock investments: Stock investments are equity securities which claim ownership in the investee...
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