100% tevredenheidsgarantie Direct beschikbaar na je betaling Lees online óf als PDF Geen vaste maandelijkse kosten
logo-home
Eerder door jou gezocht
Eerder door jou gezocht
logo
Solution Manual for Financial Accounting Tools For Business Decision Making, 10th Edition, Paul D. Kimmel, Jerry J. Weygandt | Verified Chapters 1 - 13 | Complete Newest Version $17.99
In winkelwagen
Snel navigeren naar
Voorbeeld
  2.  
  3. Financial Accounting Tools For Business Decision
  4.  
  5. Financial Accounting Tools For Business Decision

Tentamen (uitwerkingen)

Solution Manual for Financial Accounting Tools For Business Decision Making, 10th Edition, Paul D. Kimmel, Jerry J. Weygandt | Verified Chapters 1 - 13 | Complete Newest Version
 0 keer verkocht
  • Vak
  • Financial Accounting Tools For Business Decision
  • Instelling
  • Financial Accounting Tools For Business Decision

Solution Manual for Financial Accounting Tools For Business Decision Making, 10th Edition, Paul D. Kimmel, Jerry J. Weygandt | Verified Chapters 1 - 13 | Complete Newest Version Solution Manual for Financial Accounting Tools For Business Decision Making, 10th Edition, Paul D. Kimmel, Jerry J. Wey...

[Meer zien]

Voorbeeld 4 van de 1994  pagina's

Document informatie

  • 7 november 2023
  • 1994
  • 2023/2024
  • Tentamen (uitwerkingen)
  • Vragen en antwoorden

Onderwerpen

  • financial accounting
  • financial accounting tools for business decision
  • financial accounting tools
  • solution manual for financial accounting tools
  • solution manual for financial accounting 10e

Gekoppeld boek

book image

Titel boek:

Auteur(s):

  • Uitgave:
  • ISBN:
  • Druk:

Meer samenvattingen voor studieboek

Alles voor dit studieboek (72)

Geschreven voor

  • Financial Accounting Tools For Business Decision
  • Financial Accounting Tools For Business Decision

Verkoper

avatar-seller
TestBanksStuvia

Ontvangen beoordelingen

Voorbeeld van de inhoud

Solution Manual for Financial Accounting Tools For Business Decision Making 10th Edition Paul D. Kimmel, Jerry J. Weygandt, Jill E. Mitchell CHAPTER 1 Introduction to Financial Statements Learning Objectives 1. Identify the forms of business organization and the uses of accounting information. 2. Explain the three principal types of business activity. 3. Describe the four financial statements and how they are prepared. *4. Explain the career opportunities in accounting. ANSWERS TO QUESTIONS 1. The three basic forms of business organizations are (1) sole proprietorship, (2) partnership, and (3) corporation. LO 1 BT: K Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA BC: Governance Perspective 2. Advantages of a corporation are limited liability (stockholders not being personally liable for cor - porate debts), easy transferability of ownership, and ease of raising funds. Disadvantages of a corporation are increased taxation and government regulations. LO 1 BT: K Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA BC: Governance Perspective 3. Proprietorships and partnerships receive favorable tax treatment compared to corporations and are easier to form than corporations. They are also owner controlled. Disadvantages of proprietorships and partnerships are unlimited liability (proprietors/partners are personally liable for all debts) and difficulty in obtaining financing compared to corporations. LO 1 BT: K Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA BC: Governance Perspective 4. Yes. Companies can choose one of the hybrid business forms, limited liability corporations (LLCs) or subchapter S corporations, which combine the tax advantages of partnerships with the limited liability of corporations. LO 1 BT: K Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA BC: Governance Perspective 5. Yes. A person cannot earn a living, spend money, buy on credit, make an investment, or pay taxes without receiving, using, or dispensing financial information. Accounting provides financial information to interested users through the preparation and distribution of financial statements. LO 1 BT: C Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 6. Internal users are managers who plan, organize, and run a business. To assist management, accounting provides timely internal reports. Examples include financial comparisons of operating alternatives, projections of income from new sales campaigns, forecasts of cash needs for the next year, and financial statements. LO 1 BT: C Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 7. External users are those outside the business who have either a present or potential direct financial interest (investors and creditors) or an indirect financial interest (taxing authorities, regu- latory agencies, labor unions, customers, and economic planners). LO 1 BT: C Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 8. The four most common types of data analytics and the basic question each addresses are: Descriptive (What happened?), Diagnostic (Why did it happen?), Predictive (What is likely to happen?), and Prescriptive (What should we do about it?). LO 1 BT: K Difficulty: E TOT: 2 min. AACSB: Knowledge AICPA AC: Measurement Analysis and Interpretation Questions Chapter 1 (Continued) 9. The three types of business activities are financing activities, investing activities, and operating activities. Financing activities include borrowing money and selling shares of stock. Investing activities include the purchase and sale of property, plant, an d equipment. Operating activities include selling goods, performing services, and purchasing inventory. LO 2 BT: C Difficulty: M TOT: 2 min. AACSB: Knowledge AICPA AC: Reporting 10. (a) Income statement. (d) Balance sheet. (b) Balance sheet. (e) Balance sheet. (c) Income statement. (f) Balance sheet. LO 3 BT: K Difficulty: M TOT: 2 min. AACSB: Knowledge AICPA AC: Reporting 11. When a company pays dividends, it reduces the amount of assets available to pay creditors. Therefore, banks and other creditors monitor dividend payments to ensure they do not put a company’s ability to make debt payments at risk. LO 3 BT: C Difficulty: M TOT: 2 min. AACSB: Knowledge AICPA AC: Measurement Anallysis and Interpretation 12. Yes. Net income does appear on the income statement —it is the result of subtracting expenses from revenues. In addition, net income appears in the retained earnings statement —it is shown as an addition to the beginning -of-period retained earnings. Indirectly, the net income of a company is also included in the balance sheet. It is included in the retained earnings account which appears in the stockholders’ equity section of the balance sheet. LO 3 BT: C Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 13. The primary purpose of the statement of cash flows is to provide financial information about the cash receipts and cash payments of a business for a specific period of time. LO 3 BT: K Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 14. The three categories of the statement of cash flows are operating activities, investing activities, and financing activities. The categories were chosen because they represent the three principal types of business activities. LO 3 BT: C Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 15. Retained earnings is the net income retained in a corporation. Retained earnings is increased by net income and is decreased by dividends and a net loss. LO 3 BT: C Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 16. The basic accounting equation is Assets = Liabilities + Stockholders’ Equity. LO 3 BT: K Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 17. (a) Assets are resources owned by a business. Liabilities are amounts owed to creditors. Put more simply, liabilities are existing debts and obligations. Stockholders’ equity is the ownership claim on net assets. (b) The items that affect stockholders’ equity are issuance of common stock and the components of retained earnings (dividends, revenues, and expenses). LO 3 BT: K Difficulty: E TOT: 2 min. AACSB: Knowledge AICPA AC: Reporting 18. The liabilities are (b) Accounts payable and (g) Salaries and wages payable. LO 3 BT: C Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 19. (a) Net income from the income statement is reported as an increase to retained earnings on the retained earnings statement. (b) The ending amount on the retained earnings statement is reported as the retained earnings amount on the balance sheet. (c) The ending amount on the statement of cash flows is reported as the cash amount on the balance sheet. LO 3 BT: C Difficulty: M TOT: 2 min. AACSB: Knowledge AICPA AC: Reporting 20. The purpose of the management discussion and analysis section is to provide management’s views on its ability to pay short-term obligations, its ability to fund operations and expansion, and its results of operations. The MD&A section is a required part of the annual report. LO 3 BT: K Difficulty: E TOT: 1 min. AACSB: Knowledge AICPA AC: Reporting 21. An unqualified opinion shows that, in the opinion of an independent auditor, the financial state - ments have been presented fairly, in conformity with generally accepted accounting principles.

Dit zijn jouw voordelen als je samenvattingen koopt bij Stuvia:

Bewezen kwaliteit door reviews

Bewezen kwaliteit door reviews

Studenten hebben al meer dan 850.000 samenvattingen beoordeeld. Zo weet jij zeker dat je de beste keuze maakt!

In een paar klikken geregeld

In een paar klikken geregeld

Geen gedoe — betaal gewoon eenmalig met iDeal, Bancontact of creditcard en je bent klaar. Geen abonnement nodig.

Focus op de essentie

Focus op de essentie

Studenten maken samenvattingen voor studenten. Dat betekent: actuele inhoud waar jij écht wat aan hebt. Geen overbodige details!

Veelgestelde vragen

Wat krijg ik als ik dit document koop?

Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.

Tevredenheidsgarantie: hoe werkt dat?

Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.

Van wie koop ik deze samenvatting?

Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper TestBanksStuvia. Stuvia faciliteert de betaling aan de verkoper.

Zit ik meteen vast aan een abonnement?

Nee, je koopt alleen deze samenvatting voor $17.99. Je zit daarna nergens aan vast.

Is Stuvia te vertrouwen?

4,6 sterren op Google & Trustpilot (+1000 reviews)

Afgelopen 30 dagen zijn er 69411 samenvattingen verkocht

Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen

Start met verkopen

Laatst bekeken door jou

Tentamen (uitwerkingen) ·

(0)

Adobe Photoshop Interface (2023/2024) 100% Correct
$17.99
  • (0)
In winkelwagen
Toegevoegd