会计学：教程与案例财务会计答案solutiontoaccounting-textandcases-financialaccouting (1)Word文档下载推荐.doc
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Owners’equity
80,000
Totalassets
$120,000
Totalliabilitiesandowners’equity
Thisproblemcanbeusedtoexplaincertainaccountingpresentationconventions.Forexample,theuseofdoublelinestounderscoreatotal,thepositionofthedollarsignatthetopofacolumnofnumbers,andthedatingofthebalancesheet.
Thepurposeofthisproblemistoillustratetheequalityofthebasicaccountingequation:
assetsequalliabilitiesplusowners’equity.
Problem1-2
Themissingnumbersare:
Year1
Noncurrentassets
$410,976
Noncurrentliabilities
240,518
Year2
Currentassets
$90,442
288,456
78,585
Year3
$247,135
Currentliabilities
15,583
247,135
Year4
$69,090
17,539
Thebasicaccountingequationis
Assets=Liabilities+Owners’equity
Theinstructormightwanttoexplainhowthisequationisused（asitisinthisproblem）tocalculate“plug”numberswhenmanagersconstructprojectedbalancesheets.Themanagerdoesnothavetocompleteeverybalancebecausethemanagercanplugcertainbalances.
Theinstructormayalsodrawattentiontotheotherequationsillustratedintheproblem.Theseinclude:
Currentassets+Noncurrentassets=Totalassets
Currentliabilities+Noncurrentliabilities=Totalliabilities
Paid-incapital+Retainedearnings=Owners’equity.
Laterinthecoursetheinstructorshouldexplainthattheadditionalpaid-incapitalaccountisaspecialaccounttorecordtheexcessofcapitalreceivedoverparvalueincommonstockissuances.Atthisstageinthecourseitisbettertosimplyuseadescriptiveterm,likepaid-incapital,todescribecapitalreceivedfromstockholders.Alsoitavoidstheuseofthetermcommonstock,whichsomestudentsmanynotunderstand.
Problem1-3
Grossmargin
$9,000
Taxexpense
1,120
Sales
$11,968
Profitbeforetaxes
2,547
Costofgoodssold
$2,886
Otherexpenses
6,296
Otheraccountingequationssuchasthefollowingarealsoillustratedbythisproblem:
Grossmargin=Sales-Costofgoodssold
Profitbeforetaxes=Grossmargin-Otherexpenses
Netincome=Profitbeforetaxes-Taxexpense
Theinstructormaywanttopointouttothestudentsthatratiosareoftenusedbymanagerstoconstructprojectedfinancialstatements.Year4isanexampleofthisapplication.
InordertoestimateYear4,thekeyratiostocomputeare:
Average
100.0%
75.0
75.0%
23.3
21.3
20.5
21.7%
Netincome
14.0
12.8
12.2
13.0%
Taxrate
40.0
$10,000
Costofgoodssold
2,500
Grossmargin（75%ofsales）
$7,500
5,330
Profitbeforetaxes（21.7%ofsales）
$2,170
870
Netincome（13%ofsales）
$1,300
Thebasicaccountingequationusedis:
Netincome=Revenues–Expenses
Problem1-4
Theexplanationofthese11transactionsis:
1.Ownersinvest$20,000ofequitycapitalinAcmeConsulting.
2.Equipmentcosting$7,000ispurchasedfor$5,000cashandanaccountpayableof$2,000.
3.Suppliesinventorycosting$1,000isboughtforcash.
4.Salariesof$4,500arepaidincash.
5.Revenuesof$10,000areearned,ofwhich$5,000hasbeenrecoveredincash.Theremaining$5,000isowedtothecompanybyitscustomers.
6.Accountspayableof$1,500arepaidincash.
7.Customerspay$1,000ofthe$5,000theyowethecompany.
8.RentExpenseof$750ispaidincash.
9.Utilitiesof$500arepaidincash.
10.A$200travelexpensehasbeenincurredbutnotyetpaid.
11.Suppliesinventorycosting$200areconsumed.
ACMECONSULTING
BALANCESHEETASOFJULY31,----.
$12,750
Accountspayable
$700
Accountsreceivable
4,000
Suppliesinventory
800
______
17,550
700
Equipment
7,000
23,850
$24,550
Totalliabilities
andowners’equity
INCOMESTATEMENTJULY1-31,----.
Revenues
Expenses不包含costofgoodsales?
Salaries
4,500
Rent
750
Utilities
500
Travel
200
Supplies
200
6,150
$3,850
CASHRECEIPTSANDDISBURSEMENTS,JULY1-31,----.
Receipts
Owners’investment
$20,000
Cashsales
5,000
Collectionofaccountsreceivable
1,000
Totalreceipts
$26,000
Disbursements
Equipmentpurchase
$5,000
Suppliespurchase
Salariespaid
Paymentstovendors
1,500
Rentpaid
Utilitiespaid
500
Totaldisbursements
$13,250
Increaseincash
Thechangeinthiscashaccountincludestheowners’investment,whichisnotanincomestatementitem.Theincomestatementincludesrevenuesandexpensesthathavenotyetbeenreceivedincashorpaidincash.Thecashpaidtopurchasetheequipmentisnotreflectedintheincomestatement.（Itisprobablybestiftheinstructordoesnotdiscussdepreciationatthispointinthecourse.）
Thisproblemillustratesseveralimportantpointsthatmanagersshouldunderstand.Theseare:
a.Everytransactioninvolvesatleasttwoaccounts.
b.Netincomeisnotequivalenttothenetchangeinthecashaccountduringanaccountingperiod.
c.Cashisinfluencedbybothbalancesheetandincomestatementevents.
d.Thebasicaccountingequation（Assets=Liabilities+Owners’equity）canbeusedtocapture,illustrate,andexplaintheaccountingconsequencesofmany（butnotall）transactionsandeventsthatinvolveacompany.
Thecashreceipts-disbursementsdisplayisusedsinceitwouldbeprematuretointroducethecashflowstatementdisplayatthispointinthecourse.
Problem1-5
Cash
+
AccountsReceivable
SuppliesInventory
Equipment
=
AccountsPayable
1.
+$25,000
Investment
2.
-500
Rent
3.
+$8,000
4.
+$500
5.
-750
Advertising
6.
-3,000
Salaries
7.
+2,000
+10,000
Commissions
8.
-5,000
9.
-100
10.
+1,000
-1,000
Expenses
BONVOYAGETRAVEL
BALANCESHEETASOFJUNE30,----.
$17,250
$4,000
8,000
400
29,650
25,650
$8,000
TotalAssets
$33,650
Totalliabilities
INCOMESTATEMENTJUNE1-30,----.
Commissions
Expenses
$500
Advertising
3,000
100
Misc.Expenses
1,000
5,350
NetIncome
$4,650
BONVOYAGETRAVEL
CASHRECEIPTSANDDISBURSEMENTSJUNE1-30,----.
$25,000
Collectionofcommissions
2,000
$27,000
Paidrent
$500
Boughtsupplies
Boughtadvertising
Paidsalaries
Paidvendors
$9,750
SeeProblem1-4forwhychangeincashaccountandthemonth’sincomearenotthesame.
Theproblem’spurposeandlessonsformanagersaresimilartothoseinProblem1-4.
Case1-1:
Ribbonsan’Bows,Inc.
Note:
ThiscaseisunchangedfromtheTwelfthEdition.
Thisisanintroductorycaseanditshouldbetaughtasanintroductorycase.Therewillbeplentyoftimeinthecourseforthestudentstolearnthecorrectformoffinancialstatementsanddetailsofaccountingstandards.Inshort,theinstructorshouldbeprepa
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