CHAPTER 1 Essays , Research Papers

CHAPTER 1Mini-Exercises1-1(1) B, (2) D, (3) A, (4) C*, (5) B, (6) D, (7) A, (8) D. * Divid closing curtains salaried in change are as well as subtracted in the support section of the instruction of funds Flows..1-2(1) SE, (2) A, (3) R, (4) A, (5) E, (6) A, (7) E, (8) L, (9) A.. 1-3(1) certified public accountant advised familiar Accountant (2) generally accepted account principles Generally ac identificationed accountancy Principles (3) AICPA American Institute of Certified Public Accountants. (4) endorsement Securities and Exchange delegacy (5) FASB Financial Accounting Standards Board Exercises1-1 (1) K, (3) I, (5) A, (7) J, (9) C, (11) H, (13) N 1-2 (1) A, (3) R, (5) L, (7) E, (9) E, (11) A, (13) L, (15) E1-3 (1) L, (3) L, (5) SE, (7) A, (9) E, (11) R, (13) E, (15) A, (17) E.1-4 essential Assets = 11,819 (in billions of Yen). 1-5 Req. 1 issue forth Assets = $179,350 1-6 last-place Income is $25,100 . 1-7 terminal Income is $522 (in millions). 1-8 plunder Income is $50,180. 1-9 (A) Stockholders impartiality = $74,200. 1-10(B) amount of money Liabilities = $241,600. 1-11 send away Income = $75,500. centre Assets = $196,250.1-12 decision well-kept recompense = $40,100. 1-13(1) I, (3) F, (5) O, (7) I1-14 coin flow from operational activities = $95,000. Problems1-1Req. 1 network Income = $32,060. Req. 3 rack up Assets = $157,000. 1-2Req. 1 Net Income = $4,925. 1-3Req. 1 (d) Income = -$2,900, notes = -$10,500. 1-4Req. 4 Stockholders candor = $29,000Alternate Problems1-1Req. 1 Net Income = $20,050. Req 3 Total Assets = $117,050. 1-2Req. 1 Net Income = $9,120. 1-3(d) Income -$36,000, exchange -$30,000Cases1-1(7) Total Liabilities = $554,645,000.1-2(2) Net Sales = $1,834,618,000. 1-3(1) At the end of the most juvenile year, American Eagle Outfitters had inwardness assets of $1,963,676,000. Urban Outfitters had inn ate assets = $1,329,009,000. Clearly American Eagle Outfitters is the big of the tow companies in terms of essential assets at the end of the most recent year. 1-4Req. 2 Total Assets = $142,000. 1-5Req. 1 confirm the need for an breakaway audit of the fiscal statements each year, because this is the vanquish way to regard credibility - abidance with GAAP, completeness, and absence of bias. 1-6(4) on that point is an ethics infraction in this shell because she would audit statements that cover a purpose of time where she was trusty for the accounting trading operations of the companionship. This is a riddle both in appearance and in fact.1-7The solution to this cheek will cypher on the company and/or accounting period selected for analysis. CHAPTER 2Mini-Exercises2-1 (1) C, (2) H, (3) G, (4) A, (5) I.2-2 (1) D, (2) C, (3) A, (4) I, (5) B.2-3 (1) Y, (2) N, (3) Y, (4) N, (5) Y, (6) N. 2-4 (1) CL, (3) NCA, (5) SE, (7) CA, (9) NCA, (11) CA, (13) SE, (15) CL. 2-5 (b) Cash -$7,000. Notes receivable +$7,000. 2-6.1Assets Debit increases assurance decreases.2-7.2Liabilities an Increase is save as a Credit aDecrease is put down as a Debit.2-8 (d) Equipment (+A) 15,000Cash (-A) 6,000Notes collectible (+L)9,0002-9 Cash has a $6,800 debitbalance. 2-10 Total Assets = $44,700.2-11 2007 Current dimension = 1.50 2008 Current proportion = 1.18 2-12 (a) F, (b) I, (c) F, (d) I, (e) F..Exercises2-1 (1) E, (3) B,(5) K,(7) S,(9) I, (11) O, (13) C, (15) D, (17) N, (19) T.2-2 Req. 1 (k) original Investments (A) Given Cash (A) 2-3 (3) Taxes due CL, credit balance. 2-4 (c) Cash +9,000. Notes payable +9,000. 2-5 Req. 1 (c) Liabilities Dividends Payable +121.4. Stockholders Equity Retained Earnings -121.42-6 (e) country (+A)