Exam (elaborations)

Solutions for Intermediate Accounting, 18th Edition Kieso (All Chapters included)

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Course
Intermediate Accounting

Institution
Intermediate Accounting

Complete Solutions Manual for Intermediate Accounting, 18th Edition by Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield ; ISBN13: 9781119790976. (Full Chapters included Chapter 1 to 23). Excel solutions included. 1. The Environment and Conceptual Framework of Financial Reporting. 2. The Acco...

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Uploaded on December 8, 2023
Number of pages 3661
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Type Exam (elaborations)
Contains Questions & answers

solutions
manual
intermediate
accounting
intermediate accounting
18th edition
18e
kieso
9781119790976
answer guide
excel solutions
solutions manual
data analytics and accounting

Institution Intermediate Accounting
Course Intermediate Accounting

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Intermediate Accounting
18th Edition
by Donald E. Kieso

Complete Chapter Solutions Manual
are included (Ch 1 to 23)

** Immediate Download
** Swift Response
** All Chapters included
** Excel solutions included

, CHAPTER 0
Accounting Cycle Review

BRIEF EXERCISES
BE0-1.
(LO 1) Presented below are three economic events. On a sheet of paper, list the letters (a), (b),
and (c) with columns for assets, liabilities, and stockholders' equity. In each column, indicate
whether the event increased (+), decreased (−), or had no effect (NE) on assets, liabilities, and
stockholders' equity.
(a) Purchased supplies on account.
(b) Received cash for performing a service.
(c) Expenses paid in cash.

BE0-2.
(LO 1) During 2017, Manion Corp. entered into the following transactions.
1. Borrowed $60,000 by issuing bonds.
2. Paid $9,000 cash dividend to stockholders.
3. Received $13,000 cash from a previously billed customer for services performed.
4. Purchased supplies on account for $3,100.

Using the following tabular analysis, show the effect of each transaction on the accounting
equation. Put explanations for changes to Stockholders' Equity in the right-hand margin. For
Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary.
Use Illustration 0.3 as a model.

Assets = Liabilities + Stockholders' Equity
Cash + Accounts + Supplies = Accounts + Bonds + Common + Retained
Receivable Payable Payable Stock Earnings

BE0-3.
(LO 1) During 2017, Rostock Company entered into the following transactions.
1. Purchased equipment for $286,176 cash.
2. Issued common stock to investors for $137,590 cash.
3. Purchased inventory of $68,480 on account.

, Using the following tabular analysis, show the effect of each transaction on the accounting
equation. Put explanations for changes to Stockholders' Equity in the right-hand margin. For
Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary.
Use Illustration 0.3 as a model.

Assets = Liabilities + Stockholders' Equity
Cash + Inventory + Equipment = Accounts Payable + Common Stock + Retained Earnings

BE0-4.
(LO 2) For each of the following accounts, indicate the effect of a debit or a credit on the account
and the normal balance.
(a) Accounts Payable.
(b) Advertising Expense.
(c) Service Revenue.
(d) Accounts Receivable.
(e) Retained Earnings.
(f) Dividends.

BE0-5.
(LO 2) Transactions for Jayne Company for the month of June are presented below. Identify the
accounts to be debited and credited for each transaction.

June 1 Issues common stock to investors in exchange for $5,000 cash.
2 Buys equipment on account for $1,100.
3 Pays $740 to landlord for June rent.
12 Bills Wil Wheaton $700 for welding work done.

BE0-6.
(LO 2) Use the data in BE0-5 and journalize the transactions. (You may omit explanations.)

BE0-7.
(LO 2) Tilton Corporation has the following transactions during August of the current year.
Indicate (a) the basic analysis and (b) the debit-credit analysis.

Aug. 1 Issues shares of common stock to investors in exchange for $10,000.
4 Pays insurance in advance for 3 months, $1,500.
16 Receives $900 from clients for services rendered.

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Solutions for Intermediate Accounting, 18th Edition Kieso (All Chapters included)

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