毕晓方改编+《财务会计》的课后习题答案第一章习题答案.doc

Solutiongs of Ch. 11-1As in many ethics issues, there is no one right answer. The local newspaper reported on this issue in these terms: The company covered up the first report, and the local newspaper uncovered the companys secret. The company was forced to not locate here (Collier County). It became patently clear that doing the least that is legally allowed is not enough.1-21.B2.B3.E4.F5.B6.F7.X8.E9.X10.B1-3a.$96,500 ($25,000 + $71,500)b.$67,750 ($82,750 $15,000)c.$19,500 ($37,000 $17,500)1-4a.$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.Net income: $45,000 ($425,000 $105,000 $275,000)1-5a.owners equityb.liabilityc.assetd.assete.owners equityf.asset1-6a.Increases assets and increases owners equity.b.Increases assets and increases owners equity.c.Decreases assets and decreases owners equity.d.Increases assets and increases liabilities.e.Increases assets and decreases assets.1-71.increase2.decrease3.increase4.decrease1-8a.(1)Sale of catering services for cash, $25,000.(2)Purchase of land for cash, $10,000.(3)Payment of expenses, $16,000.(4)Purchase of supplies on account, $800.(5)Withdrawal of cash by owner, $2,000.(6)Payment of cash to creditors, $10,600.(7)Recognition of cost of supplies used, $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) 1-9It would be incorrect to say that the business had incurred a net loss of $21,750. The excess of the withdrawals over the net income for the period is a decrease in the amount of owners equity in the business.1-10Balance sheet items: 1, 3, 4, 8, 9, 101-11Income statement items: 2, 5, 6, 71-12MADRAS COMPANYStatement of Owners EquityFor the Month Ended April 30, 2006Leo Perkins, capital, April 1, 2006$297,200Net income for the month$73,000Less withdrawals12,000Increase in owners equity61,000Leo Perkins, capital, April 30, 2006$358,2001-13HERCULES SERVICESIncome StatementFor the Month Ended November 30, 2006Fees earned$232,120Operating expenses:Wages expense$100,100Rent expense35,000Supplies expense4,550Miscellaneous expense3,150Total operating expenses142,800Net income$89,3201-14Balance sheet: b, c, e, f, h, i, j, l, m, n, oIncome statement: a, d, g, k 1-151.binvesting activity2.aoperating activity3.cfinancing activity4.aoperating activity1-16a.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.The ratio of liabilities to stockholders equity increased from 2002 to 2003,