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financialaccounting习题答案文档
Chapter.1
1-1
Asinmanyethicsissues,thereisnoonerightanswer.Thelocalnewspaperreportedonthisissueintheseterms:
"Thecompanycoveredupthefirstreport,andthelocalnewspaperuncoveredthecompany'ssecret.Thecompanywasforcedtonotlocatehere（CollierCounty）.Itbecamepatentlyclearthatdoingtheleastthatislegallyallowedisnotenough."
1-2
1.B2.B3.E4.F5.B6.F
7.X8.E9.X10.B
1-3
a.$96,500（$25,000+$71,500）
b.$67,750（$82,750–$15,000）
c.$19,500（$37,000–$17,500）
1-4
a.$275,000（$475,000–$200,000）
b.$310,000（$275,000+$75,000–$40,000）
c.$233,000（$275,000–$15,000–$27,000）
d.$465,000（$275,000+$125,000+$65,000）
e.Netincome:
$45,000（$425,000–$105,000–$275,000）
1-5
a.owner'sequityb.liabilityc.assetd.assete.owner'sequityf.asset
1-6
a.Increasesassetsandincreasesowner’sequity.
b.Increasesassetsandincreasesowner’sequity.
c.Decreasesassetsanddecreasesowner’sequity.
d.Increasesassetsandincreasesliabilities.
e.Increasesassetsanddecreasesassets.
1-7
1.increase2.decrease3.increase4.decrease
1-8
a.
（1）Saleofcateringservicesforcash,$25,000.
（2）Purchaseoflandforcash,$10,000.
（3）Paymentofexpenses,$16,000.
（4）Purchaseofsuppliesonaccount,$800.
（5）Withdrawalofcashbyowner,$2,000.
（6）Paymentofcashtocreditors,$10,600.
（7）Recognitionofcostofsuppliesused,$1,400.
b.$13,600（$18,000–$4,400）
c.$5,600（$64,100–$58,500）
d.$7,600（$25,000–$16,000–$1,400）
e.$5,600（$7,600–$2,000）
1-9
Itwouldbeincorrecttosaythatthebusinesshadincurredanetlossof$21,750.Theexcessofthewithdrawalsoverthenetincomefortheperiodisadecreaseintheamountofowner’sequityinthebusiness.
1-10
Balancesheetitems:
1,3,4,8,9,10
1-11
Incomestatementitems:
2,5,6,7
1-12
MADRASCOMPANY
StatementofOwner’sEquity
FortheMonthEndedApril30,2006
LeoPerkins,capital,April1,2006$297,200
Netincomeforthemonth$73,000
Lesswithdrawals12,000
Increaseinowner’sequity61,000
LeoPerkins,capital,April30,2006$358,200
1-13
HERCULESSERVICES
IncomeStatement
FortheMonthEndedNovember30,2006
Feesearned$232,120
Operatingexpenses:
Wagesexpense$100,100
Rentexpense35,000
Suppliesexpense4,550
Miscellaneousexpense3,150
Totaloperatingexpenses142,800
Netincome$89,320
1-14
Balancesheet:
b,c,e,f,h,i,j,l,m,n,o
Incomestatement:
a,d,g,k
1-15
1.b–investingactivity2.a–operatingactivity
3.c–financingactivity4.a–operatingactivity
1-16
a.2003:
$10,209（$30,011–$19,802）
2002:
$8,312（$26,394–$18,082）
b.2003:
0.52（$10,209÷$19,802）
2002:
0.46（$8,312÷$18,082）
c.Theratioofliabilitiestostockholders’equityincreasedfrom2002to2003,indicatinganincreaseinriskforcreditors.However,theassetsofTheHomeDepotaremorethansufficienttosatisfycreditorclaims.
Chapter.2
2-1
Account
AccountNumber
AccountsPayable21
AccountsReceivable12
Cash11
CoreyKrum,Capital31
CoreyKrum,Drawing32
FeesEarned41
Land13
MiscellaneousExpense53
SuppliesExpense52
WagesExpense51
2-2
BalanceSheetAccountsIncomeStatementAccounts
1.Assets
11Cash
12AccountsReceivable
13Supplies
14PrepaidInsurance
15Equipment
2.Liabilities
21AccountsPayable
22UnearnedRent
3.Owner'sEquity
31MillardFillmore,Capital
32MillardFillmore,Drawing
4.Revenue
41FeesEarned
5.Expenses
51WagesExpense
52RentExpense
53SuppliesExpense
59MiscellaneousExpense
2-3
a.andb.
AccountDebitedAccountCredited
TransactionTypeEffectTypeEffect
（1）asset+owner'sequity+
（2）asset+asset–
（3）asset+asset–
liability+
（4）expense+asset–
（5）asset+revenue+
（6）liability–asset–
（7）asset+asset–
（8）drawing+asset–
（9）expense+asset–
Ex.2–4
（1）Cash40,000
IraJanke,Capital40,000
（2）Supplies1,800
Cash1,800
（3）Equipment24,000
AccountsPayable15,000
Cash9,000
（4）OperatingExpenses3,050
Cash3,050
（5）AccountsReceivable12,000
ServiceRevenue12,000
（6）AccountsPayable7,500
Cash7,500
（7）Cash9,500
AccountsReceivable9,500
（8）IraJanke,Drawing5,000
Cash5,000
（9）OperatingExpenses1,050
Supplies1,050
2-5
1.debitandcredit（c）
2.debitandcredit（c）
3.debitandcredit（c）
4.creditonly（b）
5.debitonly（a）
6.debitonly（a）
7.debitonly（a）
2-6
a.Liability—creditf.Revenue—credit
b.Asset—debitg.Asset—debit
c.Asset—debith.Expense—debit
d.Owner'sequityi.Asset—debit
（CindyYost,Capital）—creditj.Expense—debit
e.Owner'sequity
（CindyYost,Drawing）—debit
2-7
a.creditg.debit
b.credith.debit
c.debiti.debit
d.creditj.credit
e.debitk.debit
f.creditl.credit
2-8
a.Debit（negative）balanceof$1,500（$10,500–$4,000–$8,000）.SuchanegativebalancemeansthattheliabilitiesofSeth’sbusinessexceedtheassets.
b.Yes.ThebalancesheetpreparedatDecember31willbalance,withSethFite,Capital,beingreportedintheowner’sequitysectionasanegative$1,500.
2-9
a.Theincreaseof$28,750inthecashaccountdoesnotindicateearningsofthatamount.Earningswillrepresentthenetchangeinallassetsandliabilitiesfromoperatingtransactions.
b.$7,550（$36,300–$28,750）
2-10
a.$40,550（$7,850+$41,850–$9,150）
b.$63,000（$61,000+$17,500–$15,500）
c.$20,800（$40,500–$57,700+$38,000）
2-11
2005
Aug.1RentExpense1,500
Cash1,500
2AdvertisingExpense700
Cash700
4Supplies1,050
Cash1,050
6OfficeEquipment7,500
AccountsPayable7,500
8Cash3,600
AccountsReceivable3,600
12AccountsPayable1,150
Cash1,150
20GayleMcCall,Drawing1,000
Cash1,000
25MiscellaneousExpense500
Cash500
30UtilitiesExpense195
Cash195
31AccountsReceivable10,150
FeesEarned10,150
31UtilitiesExpense380
Cash380
2-12
a.
JOURNALPage43
Post.
DateDescriptionRef.DebitCredit
2006
Oct.27Supplies151,320
AccountsPayable211,320
Purchasedsuppliesonaccount.
b.,c.,d.
Supplies15
Post.Balance
DateItemRef.Dr.Cr.Dr.Cr.
2006
Oct.1Balance✓585
27431,3201,905
AccountsPayable21
2006
Oct.1Balance✓6,150
27431,3207,470
2-13
Inequalityoftrialbalancetotalswouldbecausedbyerrorsdescribedin（b）and（d）.
2-14
ESCALADECO.
TrialBalance
December31,2006
Cash13,375
AccountsReceivable24,600
PrepaidInsurance8,000
Equipment75,000
AccountsPayable11,180
UnearnedRent4,250
ErinCapelli,Capital82,420
ErinCapelli,Drawing10,000
ServiceRevenue83,750
WagesExpense42,000
AdvertisingExpense7,200
MiscellaneousExpense1,425
181,600181,600
2-15
a.GeraldOwen,Drawing15,000
WagesExpense15,000
b.PrepaidRent4,500
Cash4,500
2-16
题目的资料不全,答案略.
2-17
a.KMARTCORPORATION
IncomeStatement
FortheYearsEndingJanuary31,2000and1999
（inmillions）
Increase（Decrease）
20001999AmountPercent
1.Sales$37,028$35,925$1,1033.1%
2.Costofsales（29,658）（28,111）1,5475.5%
3.Selling,general,andadmin.
expenses（7,415）（6,514）90113.8%
4.Operatingincome（loss）
beforetaxes$（45）$1,300$（1,345）（103.5%）
b.ThehorizontalanalysisofKmartCorporationrevealsdeterioratingoperatingresultsfrom1999to2000.Whilesalesincreasedby$1,103million,a3.1%increase,costofsalesincreasedby$1,547million,a5.5%increase.Selling,general,andadministrativeexpensesalsoincreasedby$901million,a13.8%increase.Theendresultwasthatoperatingincomedecreasedby$1,345million,overa100%decrease,andcreateda$45millionlossin2000.Littleoverayearlater,Kmartfiledforbankruptcyprotection.Ithasnowemergedfrombankruptcy,hopingtoreturntoprofitability.
3-1
1.Accruedexpense（accruedliability）
2.Deferredexpense（prepaidexpense）
3.Deferredrevenue（unearnedrevenue）
4.Accruedrevenue（accruedasset）
5.Accruedexpense（accruedliability）
6.Accruedexpense（accruedliability）
7.Deferredexpense（prepaidexpense）
8.Deferredrevenue（unearnedrevenue）
3-2
SuppliesExpense801
Supplies801
3-3
$1,067（$118+$949）
3-4
a.Insuranceexpense（orexpenses）willbeunderstated.Netincomewillbeoverstated.
b.Prepaidinsurance（orassets）willbeoverstated.Owner’sequitywillbeoverstated.
3-5
a.InsuranceExpense1,215
PrepaidInsurance1,215
b.InsuranceExpense1,215
PrepaidInsurance1,215
3-6
UnearnedFees9,570
FeesEarned9,570
3-7
a.SalaryExpense9,360
SalariesPayable9,360
b.SalaryExpense12,480
SalariesPayable12,480
3-8
$59,850（$63,000–$3,150）
3-9
$195,816,000（$128,776,000+$67,040,000）
3-10
Error（a）Error（b）
Over-Under-Over-Under-
statedstatedstatedstated
1.Revenuefortheyearwouldbe$0$6,900$0$0
2.Expensesfortheyearwouldbe0003,740
3.Netincomefortheyearwouldbe06,9003,7400
4.AssetsatDecember31wouldbe0000
5.LiabilitiesatDecember31wouldbe6,900003,740
6.Owner’sequityatDecember31
wouldbe06,9003,7400
3-11
$175,840（$172,680+$6,900–$3,740）
3-12
a.AccountsReceivable11,500
FeesEarned11,500
b.No.Ifthecashbasisofaccountingisused,revenuesarerecognizedonlywhenthecashisreceived.Therefore,earnedbutun
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