会计学原理FinancialAccountingbyRobertLibby第八版第三章答Word下载.docx

会计学原理FinancialAccountingbyRobertLibby第八版第三章答Word下载.docx

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Gains--increasesinassetsorsettlementsofliabilitiesfromperipheraltransactions.

Expenses--decreasesinassetsorincreasesinliabilitiesfromongoingoperations.

Losses--decreasesinassetsorincreasesinliabilitiesfromperipheraltransactions.

4.Bothrevenuesandgainsareinflowsofnetassets.However,revenuesoccurinthenormalcourseofoperations,whereasgainsoccurfromtransactionsperipheraltothecentralactivitiesofthecompany.Anexampleissellinglandatapriceabovecost（atagain）forcompaniesnotinthebusinessofsellingland.

Bothexpensesandlossesareoutflowsofnetassets.However,expensesoccurinthenormalcourseofoperations,whereaslossesoccurfromtransactionsperipheraltothecentralactivitiesofthecompany.Anexampleisalosssufferedfromfiredamage.

5.Accrualaccountingrequiresrecordingrevenueswhenearnedandrecordingexpenseswhenincurred,regardlessofthetimingofcashreceiptsorpayments.Cashbasisaccountingisrecordingrevenueswhencashisreceivedandexpenseswhencashispaid.

6.Thefourcriteriathatmustbemetforrevenuetoberecognizedundertheaccrualbasisofaccountingare

（1）deliveryhasoccurredorserviceshavebeenrendered,

（2）thereispersuasiveevidenceofanarrangementforcustomerpayment,（3）thepriceisfixedordeterminable,and（4）collectionisreasonablyassured.

7.Theexpensematchingprinciplerequiresthatexpensesberecordedwhenincurredinearningrevenue.Forexample,thecostofinventorysoldduringaperiodisrecordedinthesameperiodasthesale,notwhenthegoodsareproducedandheldforsale.

8.Netincomeequalsrevenuesminusexpenses.Thusrevenuesincreasenetincomeandexpensesdecreasenetincome.Becausenetincomeincreasesstockholders’equity,revenuesincreasestockholders’equityandexpensesdecreaseit.

9.Revenuesincreasestockholders’equityandexpensesdecreasestockholders’equity.Toincreasestockholders’equity,anaccountmustbecredited;

todecreasestockholders’equity,anaccountmustbedebited.Thusrevenuesarerecordedascreditsandexpensesasdebits.

10.

Item

Increase

Decrease

Revenues

Credit

Debit

Losses

Gains

Expenses

11.

12.

Transaction

Operating,Investing,orFinancing

Direction

oftheEffect

onCash

Cashpaidtosuppliers

Operating

–

Saleofgoodsonaccount

None

Cashreceivedfromcustomers

+

Purchaseofinvestments

Investing

Cashpaidforinterest

Issuanceofstockforcash

Financing

13.TotalnetprofitmarginratioiscalculatedasNetIncome÷

NetSales（orOperatingRevenues）.Thenetprofitmarginratiomeasureshowmuchofeverysalesdollarisprofit.Anincreasingratiosuggeststhatthecompanyismanagingitssalesandexpenseseffectively.

ANSWERSTOMULTIPLECHOICE

1.c

2.a

3.b

4.b

5.c

6.c

7.d

8.b

9.a

10.b

Authors'

RecommendedSolutionTime

（Timeinminutes）

Mini-exercises

Exercises

Problems

AlternateProblems

CasesandProjects

No.

Time

1

5

10

20

30

2

6

15

3

25

35

4

40

60

7

18

8

*

9

11

ContinuingCase

12

13

14

16

17

*Duetothenatureofthisproject,itisverydifficulttoestimatetheamountoftimestudentswillneedtocompletetheassignment.Aswithanyopen-endedproject,itispossibleforstudentstodevotealargeamountoftimetotheseassignments.Whilestudents