...CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Brief Exercises A Problems B Problems Study Objectives 1. Explain what accounting is. Identify the users and uses of accounting. Understand why ethics is a fundamental business concept. Explain generally accepted accounting principles and the cost principle. Explain the monetary unit assumption and the economic entity assumption. State the accounting equation, and define assets, liabilities, and owner’s equity. Analyze the effects of business transactions on the accounting equation. Understand the four financial statements and how they are prepared. Questions 1, 2, 5 Exercises 1 2. 3, 4 2 3. 3 4. 6 4 5. 7, 8, 9, 10 4 6. 11, 12, 13 1, 2, 3, 4 5, 6, 7, 11 1A, 2A 4A 1B, 2B 4B 7. 14, 15, 16, 18 5, 6, 7, 8 6, 7, 8, 10, 11 1A, 2A, 4A, 5A 1B, 2B, 4B, 5B 8. 17, 19, 20, 21 9, 10 9, 12, 13, 14, 15, 16 2A, 3A, 4A, 5A 2B, 3B, 4B, 5B 1-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A 2A Difficulty Level Moderate Moderate Time Allotted (min.) 40–50 50–60 Description Analyze transactions and compute net income. Analyze transactions and prepare income statement, owner’s equity statement, and balance sheet. Prepare income statement, owner’s equity statement, and balance sheet. Analyze transactions and prepare financial statements. Determine financial statement amounts and prepare owner’s equity statement. Analyze transactions...
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...CHAPTER 1 Introduction to Financial Statements ASSIGNMENT CLASSIFICATION TABLE |Study Objectives | |Questions | |Brief Exercises | |Exercises | |A Problems | |B Problems | | | | | | | | | | | | | |1. Describe the primary forms of business | |1, 2 | |1 | |1 | |1A | |1B | |organization. | | | | | | | | | | | | | | | | | | | | | | | |2. Identify the users and uses of | |3, 4, 5, 6 | |2, 3 | |1 | |4A | |4B | |accounting. | | | | | | | | | | | | | | | | | | | | | | | |3. Explain the three principal types of | |7, 8 | |4 | |1 | |2A, 3A | |2B, 3B | |business...
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...CHAPTER 9 Accounting for Receivables ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives 1. Identify the different types of receivables. Explain how companies recognize accounts receivable. Distinguish between the methods and bases companies use to value accounts receivable. Describe the entries to record the disposition of accounts receivable. Compute the maturity date of and interest on notes receivable. Explain how companies recognize notes receivable. Describe how companies value notes receivable. Describe the entries to record the disposition of notes receivable. Explain the statement presentation and analysis of receivables. Questions 1, 2 Exercises 2. 3 2 1, 2, 14 1A, 3A, 4A, 6A, 7A 1B, 3B, 4B, 6B, 7B 3. 4, 5, 6, 7, 8 3, 4, 5, 6, 7 3, 4, 5, 6 1A, 2A, 3A, 4A, 5A 1B, 2B, 3B, 4B, 5B 4. 9, 10, 11 8 7, 8, 9, 14 6A, 7A 6B, 7B 5. 12, 13, 14, 15, 16 9, 10 10, 11, 12, 13 6A, 7A 6B, 7B 6. 11 10, 11, 12 7A 7B 7. 7A 7B 8. 17 12, 13 6A, 7A 6B, 7B 9. 18, 19 3, 12 14, 15 1A, 6A 1B, 6B 9-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description 1A 2A 3A 4A 5A 6A 7A 1B 2B 3B 4B 5B 6B 7B Prepare journal entries related to bad debts expense. Compute bad debts amounts. Journalize entries to record transactions related to bad debts. Journalize transactions related to bad debts. Journalize entries to record...
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...CHAPTER 9 Accounting for Receivables ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives 1. Identify the different types of receivables. Explain how companies recognize accounts receivable. Distinguish between the methods and bases companies use to value accounts receivable. Describe the entries to record the disposition of accounts receivable. Compute the maturity date of and interest on notes receivable. Explain how companies recognize notes receivable. Describe how companies value notes receivable. Describe the entries to record the disposition of notes receivable. Explain the statement presentation and analysis of receivables. Questions 1, 2 Exercises 2. 3 2 1, 2, 14 1A, 3A, 4A, 6A, 7A 1B, 3B, 4B, 6B, 7B 3. 4, 5, 6, 7, 8 3, 4, 5, 6, 7 3, 4, 5, 6 1A, 2A, 3A, 4A, 5A 1B, 2B, 3B, 4B, 5B 4. 9, 10, 11 8 7, 8, 9, 14 6A, 7A 6B, 7B 5. 12, 13, 14, 15, 16 9, 10 10, 11, 12, 13 6A, 7A 6B, 7B 6. 11 10, 11, 12 7A 7B 7. 7A 7B 8. 17 12, 13 6A, 7A 6B, 7B 9. 18, 19 3, 12 14, 15 1A, 6A 1B, 6B 9-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description 1A 2A 3A 4A 5A 6A 7A 1B 2B 3B 4B 5B 6B 7B Prepare journal entries related to bad debts expense. Compute bad debts amounts. Journalize entries to record transactions related to bad debts. Journalize transactions related to bad debts. Journalize entries to record...
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...CHAPTER 14 Corporations: Dividends, Retained Earnings, and Income Reporting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2, 3 A Problems 1A, 2A, 3A, 4A, 5A B Problems 1B, 2B, 3B, 4B, 5B Study Objectives 1. Prepare the entries for cash dividends and stock dividends. Identify the items reported in a retained earnings statement. Prepare and analyze a comprehensive stockholders’ equity section. Describe the form and content of corporation income statements. Compute earnings per share. Questions 1, 2, 3, 4, 5, 6, 7, 8 Exercises 1, 2, 3, 4, 5, 6, 7 2. 9, 10, 11, 12, 13, 14 4, 5 6, 8, 9 2A, 3A, 4A 2B, 3B, 4B 3. 14, 15 6, 7 5, 6, 10, 11, 13, 15, 16 1A, 2A, 3A, 4A, 5A 1B, 2B, 3B, 4B, 5B 4. 15, 16 8 12, 13, 14 5. 17 9, 10 12, 14, 15, 16, 17 3A 3B 14-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description 1A 2A Prepare dividend entries and stockholders’ equity section. Journalize and post transactions; prepare retained earnings statement and stockholders’ equity section. Prepare retained earnings statement and stockholders’ equity section, and compute earnings per share. Prepare the stockholders’ equity section, reflecting dividends and stock split. Prepare the stockholders’ equity section, reflecting various events. Prepare dividend entries and stockholders’ equity section. Journalize and post transactions; prepare retained earnings statement and stockholders’ equity section. Prepare retained...
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...CHAPTER 10 Plant Assets, Natural Resources, and Intangible Assets ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2 A Problems 1A B Problems 1B Study Objectives 1. Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal of a plant asset. Compute periodic depletion of natural resources. Explain the basic issues related to accounting for intangible assets. Questions 1, 2, 3 Exercises 1, 2, 3 2. 4, 5 4 3. 6, 7, 22 3, 4, 5, 6 5, 6, 7 2A, 3A, 4A, 5A 4A 2B, 3B, 4B, 5B 4B 4. 8 7 8 5. 9, 24 8 6. 10, 11 9, 10 9, 10 5A, 6A 5B, 6B 7. 12, 13 11 11 8. 14, 15, 16, 17, 18, 19 12 12, 13 7A, 8A 7B, 8B 10-1 ASSIGNMENT CLASSIFICATION TABLE (Continued) Brief Exercises 13, 14 A Problems 5A, 7A, 9A B Problems 5B, 7B, 9B Study Objectives 9. Indicate how plant assets, natural resources, and intangible assets are reported. Questions 20, 21, 23 Exercises 14 *10. Explain how to account for the exchange of plant assets. 25, 26 15, 16 15, 16 10-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A 2A 3A 4A 5A Difficulty Level Simple Simple Moderate Moderate Moderate Time Allotted (min.)...
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...CHAPTER 10 Plant Assets, Natural Resources, and Intangible Assets ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2 A Problems 1A B Problems 1B Study Objectives 1. Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal of a plant asset. Compute periodic depletion of natural resources. Explain the basic issues related to accounting for intangible assets. Questions 1, 2, 3 Exercises 1, 2, 3 2. 4, 5 4 3. 6, 7, 22 3, 4, 5, 6 5, 6, 7 2A, 3A, 4A, 5A 4A 2B, 3B, 4B, 5B 4B 4. 8 7 8 5. 9, 24 8 6. 10, 11 9, 10 9, 10 5A, 6A 5B, 6B 7. 12, 13 11 11 8. 14, 15, 16, 17, 18, 19 12 12, 13 7A, 8A 7B, 8B 10-1 ASSIGNMENT CLASSIFICATION TABLE (Continued) Brief Exercises 13, 14 A Problems 5A, 7A, 9A B Problems 5B, 7B, 9B Study Objectives 9. Indicate how plant assets, natural resources, and intangible assets are reported. Questions 20, 21, 23 Exercises 14 *10. Explain how to account for the exchange of plant assets. 25, 26 15, 16 15, 16 10-2 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A 2A 3A 4A 5A Difficulty Level Simple Simple Moderate Moderate Moderate Time Allotted (min.)...
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... | |B | |Study Objectives | |Questions | |Exercises | |Exercises | |Problems | |Problems | | | | | | | | | | | | | |1. Analyse the effect of business | |1, 2, 3 | |1 | |1, 2, 3, 4, 13 | |1A, 2A | |1B, 2B | |transactions on the basic accounting | | | | | | | | | | | |equation. | | | | | | | | | | | | | | | | | | | | | | | |2. Explain what an account is and how it | |4 | | | | | | | | | |helps in the recording process. | | | | | | | | | | | | | | | | | | | | | | | |3. Define debits and credits and explain how| |5, 6, 7, 8, 9, | |2, 3 | |5, 6 | |3A, 4A...
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...CHAPTER 13 Financial Analysis: The Big Picture Study Objectives 1. 2. 3. 4. 5. 6. 7. Understand the concept of sustainable income. Indicate how irregular items are presented. Explain the concept of comprehensive income. Describe and apply horizontal analysis. Describe and apply vertical analysis. Identify and compute ratios used in analyzing a company’s liquidity, solvency, and profitability. Understand the concept of quality of earnings. Summary of Questions by Study Objectives and Bloom’s Taxonomy Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT Questions 1. 2. 3. 4. 5. 1. 2. 3. 1. 2. 1 2 1 2 6 2 2 2 2 1, 2, 6 C C C C C AP AP C AP C 6. 7. 8. 9. 10. 4. 5. 6. 3. 4. 5. 2. 2. 4, 5 4, 5 4, 5 6 6 4 5 4 4 5 4, 5 6 6 C C AP K C AP AP AP AP AP AP AP AP 11. 12. 13. 14. 15. 7. 8. 9. 6. 7. 8. 3. 3. 6 6 6 6 6 4 5 4 Exercises 4, 5 6 6 6 6 AP AP AP AN AN 9. 10. 11. 4. 4. 6 6 6 6 6 AP AP AP AN AN 5. 5. 6 6 E E 12. 6 AP K C C C C AP AP AP 16. 17. 18. 19. 20. 10. 11. 12. 6 6 6 6 6 6 6 6 C C C C AP AP AN AN 13. 14. 15. 6 6 6 AN AN AN 21. 22. 7 7 C AN Brief Exercises Problems: Set A 1. 1. 5, 6 5, 6 AN AN Problems: Set B 13-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A 2A Difficulty Level Simple Simple Time Allotted (min.) 20–30 20–30 Description Prepare vertical analysis and comment on profitability. Compute ratios from balance sheet and income statement. Perform ratio analysis, and discuss change in financial position and operating results. Compute ratios;...
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...CHAPTER 4 Accrual Accounting Concepts Study Objectives 1. Explain the revenue recognition principle and the matching principle. 2. Differentiate between the cash basis and the accrual basis of accounting. 3. Explain why adjusting entries are needed, and identify the major types of adjusting entries. 4. Prepare adjusting entries for deferrals. 5. Prepare adjusting entries for accruals. 6. Describe the nature and purpose of the adjusted trial balance. 7. Explain the purpose of closing entries. 8. Describe the required steps in the accounting cycle. 9. Understand the causes of differences between net income and cash provided by operating activities. 10. Describe the purpose and the basic form of a worksheet. Summary of Questions by Study Objectives and Bloom’s Taxonomy |Item | | 1. | | 1. | | 1. | | 1. ...
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...Exercises | |Problems |Problems | |Study Objectives |Questions | |Exercises |Set A |Set B | |Describe the advantages and illustrate the impact |1, 2, 3, 4, 5, 6 |1 |1 | | | |of issuing bonds instead of common shares. | | | | | | |Prepare the entries for the issue of bonds and the|7, 8, 9, 10, 11, 12 |2, 3, 4, 5, 6, 7 |2, 3, 4, 7, 8 |1, 2, 3, 5, 6 |1, 2, 3, 5, 6 | |recording of interest expense. | | | | | | |Contrast the effects of the straight-line and |13, 14 |7, 8 |5, 6 |4, 5 |4, 5 | |effective interest methods of amortizing bond | | | | | | |discounts and premiums. | | | | | | |Prepare the entries when bonds are retired. |15 | 9 | 7, 8, 9 |6 |6 | |Account for long-term...
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...CHAPTER 14 Managerial Accounting ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1 A Problems B Problems Study Objectives *1. Explain the distinguishing features of managerial accounting. Identify the three broad functions of management. Define the three classes of manufacturing costs. Distinguish between product and period costs. Explain the difference between a merchandising and a manufacturing income statement. Indicate how cost of goods manufactured is determined. Explain the difference between a merchandising and a manufacturing balance sheet. Identify trends in managerial accounting. Prepare a worksheet and closing entries for a manufacturing company. Questions 1, 2, 3 Do It! 1 Exercises 1 *2. 4, 5, 6, 7, 8 11, 12 2, 3 1 *3. 4, 5, 7 2 2, 3, 4, 5, 6 3, 4, 5, 7, 13 8, 12, 13, 14, 15, 17 1A, 2A 1B, 2B *4. 13 6 2 1A, 2A 1B, 2B *5. 9, 14 3A, 4A, 5A 3B, 4B, 5B *6. 15, 16, 17, 18 8, 10, 11 3 8, 9, 10, 11, 12, 13, 14, 15, 16, 17 14, 15, 16, 17 3A, 4A, 5A 3B, 4B, 5B *7. 10, 19, 20, 21 9 3A, 4A 3B, 4B *8. 22, 23, 24 25, 26 27, 28, 29 12 4 18 *9. 19 6A *Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix to the chapter. Copyright © 2011 John Wiley & Sons, Inc. Kimmel, Accounting, 4/e, Solutions Manual (For Instructor Use Only) 14-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A Difficulty Level Simple Time Allotted (min.) 20–30 Description Classify manufacturing costs into different...
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...CHAPTER 14 Performance Measurement ASSIGNMENT CLASSIFICATION TABLE | | | | |Brief | | | |A | |B | |Study Objectives | |Questions | |Exercises | |Exercises | |Problems | |Problems | | | | | | | | | | | | | |1. Understand the con- | |1, 2, 3, 4 | |1, 2, 3 | |1, 2 | | | | | |cept of sustainable earnings and indicate | | | | | | | | | | | |how irregular items are presented. | | | | | | | | | | | | | | | | | | | | | | | |2. Discuss the need for comparative analysis| |5 | | | | | | | | | |and identify the tools | | | | | | | | | | | |of financial statement analysis...
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...CHAPTER 10 Plant Assets, Natural Resources, and Intangible Assets ASSIGNMENT CLASSIFICATION TABLE Brief Exercises 1, 2 A Problems 1A B Problems 1B Study Objectives 1. Describe how the cost principle applies to plant assets. Explain the concept of depreciation. Compute periodic depreciation using different methods. Describe the procedure for revising periodic depreciation. Distinguish between revenue and capital expenditures, and explain the entries for each. Explain how to account for the disposal of a plant asset. Compute periodic depletion of natural resources. Explain the basic issues related to accounting for intangible assets. Questions 1, 2, 3 Do It! 1 Exercises 1, 2, 3 2. 4, 5 2 4 3. 6, 7, 21, 22, 23 8 3, 4, 5, 6 6 5, 6, 7 2A, 3A, 4A, 5A 4A 2B, 3B, 4B, 5B 4B 4. 7 7, 8 8 5. 9, 24 8 6. 10, 11 9, 10 9, 10 5A, 6A 5B, 6B 7. 12, 13 11 11 8. 14, 15, 16, 17, 18, 19 12 12, 13 7A, 8A 7B, 8B 9. Indicate how plant assets, natural resources, and intangible assets are reported. 20, 25 13, 14 14 5A, 7A, 9A 5B, 7B, 9B *10. Explain how to account for the exchange of plant assets. 26, 27 15, 16 15, 16 Copyright © 2009 John Wiley & Sons, Inc. Weygandt, Accounting Principles, 9/e, Solutions Manual (For Instructor Use Only) 10-1 ASSIGNMENT CHARACTERISTICS TABLE Problem Number 1A 2A 3A 4A 5A Difficulty Level Simple Simple Moderate Moderate Moderate Time Allotted (min.) 20–30 30–40 30–40 20–30 40–50 Description Determine acquisition costs...
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...Analyzing Inventory Study Objectives 1. Describe the steps in determining inventory quantities. 2. Explain the basis of accounting for inventories and apply the inventory cost flow methods under a periodic inventory system. 3. Explain the financial statement and tax effects of each of the inventory cost flow assumptions. 4. Explain the lower of cost or market basis of accounting for inventories. 5. Compute and interpret the inventory turnover ratio. 6. Describe the LIFO reserve and explain its importance for comparing results of different companies. Summary of Questions by Study Objectives and Bloom’s Taxonomy Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT Questions 1. 1 C 6. 2 AP 11. 2 K 16. 4 AP 21. 6 C 2. 1 K 7. 2 C 12. 3 C 17. 4 K 22. 7 C 3. 1 K 8. 2 C 13. 3 C 18. 2 K 23. 7 C 4. 1 C 9. 2 K 14. 3 C 19. 3 C 24. 8 AN 5. 1 C 10. 2 C 15. 4 C 20. 5 AN Brief Exercises 1. 1 C 3. 2 AP 5. 3 AP 7. 5 AP 9. 7 AP 2. 2 AP 4. 3 C 6. 4 AP 8. 6 C 10. 8 AN Exercises 1. 1 AN 4. 2 AN 7. 2, 3 AP 10. 5, 6 AP 13. 8 AN 2. 1 AN 5. 2 AP 8. 5 AP 11. 7 AP 14. ...
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