solution manual for accounting 28th edition by car
accounting 28th edition by carl s warren christine
Gekoppeld boek
Titel boek:
Auteur(s):
Uitgave:
ISBN:
Druk:
Meer samenvattingen voor studieboek
Solution Manual For Accounting 28th Edition by Carl S. Warren, Christine Jonick, Jennifer Schneider all chapters 1 to 26 ISBN;978-1337902687
Solution Manual for Accounting 28th Edition by Warren, Jonick & Schneider Consists of 26 Complete Chapters, ISBN: 978-1337902687
Solution Manual For Accounting 28th Edition by Carl S. Warren, Christine Jonick, Jennifer Schneider all chapters 1 to 26 ISBN;978-1337902687
Alles voor dit studieboek (27)
Geschreven voor
ACCOUNTING 28TH EDITION BY CARL S WARREN CHRISTINE
Alle documenten voor dit vak (1)
1
beoordeling
Door: info7462 • 1 maand geleden
Door: ASolution • 1 maand geleden
Thank you for great review.
Verkoper
Volgen
ASolution
Ontvangen beoordelingen
Voorbeeld van de inhoud
Created by: A Solution
SOLUTION MANUAL FOR ACCOUNTING 28TH EDITION
BY CARL S WARREN CHRISTINE JONICK JENNIFER
SCHNEIDER A+
CHAPTER 1
INTRODUCTION TO ACCOUNTING AND BUSINESS
DISCUSSION QUESTIONS
1. Some users of accounting information include managers, employees,
investors, creditors, customers, and the government.
2. The role of accounting is to provide information for managers to use in operating
the business. In addition, accounting provides information to others to use in
assessing the economic performance and condition of the business.
3. The corporate form allows the company to obtain large amounts of resources by
issuing stock. For this reason, most companies that require large investments in
property, plant, and equipment are organized as corporations.
4. No. The business entity concept limits the recording of economic data to
transactions directly affecting the activities of the business. The payment of the
interest of $4,500 is a personal transaction of Josh Reilly and should not be
recorded by Dispatch Delivery Service.
5. The land should be recorded at its cost of $167,500 to Reliable Repair Service. This
is consistent with the cost concept.
6. a. No. The offer of $2,000,000 and the increase in the assessed value should not be
recognized in the accounting records because land is recorded on the cost basis.
b. Cash would increase by $2,125,000, land would decrease by $900,000, and
owner’s equitywould increase by $1,225,000.
7. An account receivable is a claim against a customer for goods or services sold.
An account payable is an amount owed to a creditor for goods or services
A+ Page 1
,Created by: A Solution
purchased. Therefore, an account receivable in the records of the seller is an
account payable in the records of the purchaser.
8. (b) The business realized net income of $91,000 ($679,000 – $588,000).
9. (a) The business incurred a net loss of $75,000 ($640,000 – $715,000).
10. (a) Net income or net loss
(b) Owner’s equity at the end of the period
(c) Cash at the end of the period
PE 1-1A
PRACTICE EXERCISES
$597,000. Under the cost concept, the land should be recorded at the cost to Boulder
Repair Service.
PE 1-1B
$369,500. Under the cost concept, the land should be recorded at the cost toClementine
Repair Service.
PE 1-2A
a. A = L + OE
$518,000 = $165,000 + OE
OE = $353,000
b. A = L + OE
+$86,200 = +$25,000 + OE
OE = +$61,200
OE on December 31, 20Y9 = $353,000 + $61,200
A+ Page 2
,Created by: A Solution
= $414,200
PE 1-2B
a. A = L + OE
$382,000 = $94,000 + OE
OE = $288,000
b. A = L + OE
–$63,000 = +$35,000 + OE
OE = –$98,000
OE on December 31, 20Y9 = $288,000 – $98,000
= $190,000
PE 1-3A
(2) Asset (Accounts Receivable) increases by $22,400;
Owner’s Equity (Delivery Service Fees) increases by $22,400.
(3) Liability (Accounts Payable) decreases by $4,100;
Asset (Cash) decreases by $4,100.
(4) Asset (Cash) increases by $14,700;
Asset (Accounts Receivable) decreases by $14,700.
(5) Asset (Cash) decreases by $1,600;
Owner’s Equity (Terry Young, Drawing) decreases by $1,600.
(2) Owner’s Equity (Advertising Expense, increases) decreases by $6,750;
Asset (Cash) decreases by $6,750.
(3) Asset (Supplies) increases by $2,920;
Liability (Accounts Payable) increases by $2,920.
(4) Asset (Accounts Receivable) increases by $20,460;
Owner’s Equity (Delivery Service Fees) increases by $20,460.
A+ Page 3
, Created by: A Solution
(5) Asset (Cash) increases by $11,410;
Asset (Accounts Receivable) decreases by $11,410.
PE 1-4A
Up-in-the-Air Travel Service
Income Statement
For the Year Ended April 30, 20Y7
Fees earned $1,870,000
Expenses:
Wages expense $1,115,000
Office expense 343,000
Miscellaneous expense 21,000
Total expenses 1,479,000
Net income $ 391,000
PE 1-4B
Zenith Travel Service
Income Statement
For the Year Ended August 31, 20Y4
Fees earned $899,600
Expenses:
Wages expense $539,800
Office expense 353,800
Miscellaneous expense 14,400
A+ Page 4
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
√ Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, Bancontact of creditcard voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
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 ASolution. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €13,23. Je zit daarna nergens aan vast.
