Exerciseanswer---精简的练习题

ExerciseanswerExercise2.6(14thedition)TransactionAssets=Liabilities+Owners’EquityaIINEbNE*NENEcDDNEdDDNEeINEIfIINEgINEIhNE*NENEiNE*NENEExercise3.5a.Liabilitiesatthebeginningoftheyear:$6.0billion–$3.9billion=$2.1billionb.Owners’equityattheendoftheyear:$6.3billion–$2.2billion=$4.1billionc.Endingowners’equity(frompartb).............................................$4,100,000,000Less:Beginningowners’equity.....................................................(3,900,000,000)Increaseinowners’equity.............................................................$200,000,000Less:Increaseincapitalstock........................................................(135,000,000)Netincome.....................................................................................$65,000,000Exercise4.8a.Thetotalinterestexpenseoverthelifeofthenoteis$5,400($120,000.09612=$5,400)Themonthlyinterestexpenseis$900($5,4006=$900).b.TheliabilitytothebankatDecember31,2005,is$121,800(Principal,$120,000+$1,800accruedinterest).c.2005Oct.31Cash.....................................................................................120,000NotesPayable................................................120,000Obtainfrombanksix-monthloanwithinterestat9%ayear.d.De31InterestExpense900InterestPayable.......................................................900ToaccrueinterestexpenseforDecemberonnotepayable($120,0009%112).e.TheliabilitytothebankatMarch31,2006,is$124,500,consistingof$120,000principalplus$4,500accruedinterestforfivemonths.Exercise5.12a.(1)LiftTicketRevenue,$210,000($850,000$640,000)(2)Cash,$116,000b.(1)LiftTicketRevenue,$960,000($990,000$30,000)(2)Cash,$138,000c.Januarywasthebestmonthwithrespecttoliftticketrevenue($640,000$200,000=$440,000).December,however,wasthebestmonthwithrespecttonetcashflow($59,000$9,000=$50,000).Exercise5.14ErrorNetIncomeTotalAssetsTotalLiabilitiesRetainedEarningsa.Recordedadividendasanexpenseintheincomestatement.UNENENEb.Recordedunearnedrevenueasearnedrevenueintheincomestatement.ONEUOc.Failedtorecordaccruedwagespayableattheendoftheperiod.ONEUOd.RecordedadeclaredbutunpaiddividendbydebitingDividendsandcreditingCash.NEUUNEe.Failedtodiscloseapendinglawsuitinthenotesaccompanyingthefinancialstatements.NENENENEExercise7.8A:UncollectibleAccountsExpense200,000AllowanceforDoubtfulAccounts200,000Torecordestimateduncollectibleaccountsexpenseat2.5%ofnetcreditsales($8,000,0002.5%=$200,000)B:UncollectibleAccountsExpense155,000AllowanceforDoubtfulAccounts155,000Toincreasebalanceinallowanceaccounttorequired$84,000:Creditbalanceatbeginningofyear$25,000Write-offsduringyear(96,000)Temporarydebitbalance71,000Requiredyear-endcreditbalance84,000Requiredadjustmentforyear$155,000C:UncollectibleAccountsExpense96,000AccountsReceivable96,000Torecordasuncollectibleexpenseonlythoseaccountsdeterminedduringtheyeartobeuncollectible.D:AdjustingthebalanceintheAllowanceforDoubtfulAccountsaccountbasedupontheagingschedulewillprovidetoinvestorsandcreditorsthemostaccurateassessmentofthecompany’sliquidity.Thismethodistheonlyapproachtotakeintoconsiderationtheunderlyingdecliningprobabilityofcollectingoutstandingaccountsastheybecomeincreasinglypastdue.Exercise9.2a.Capitalexpenditureb.Revenueexpenditurec.Revenueexpenditured.Capitalexpendituree.Revenueexpenditure(toosmallinamounttocapitalizeregardlessoflengthofusefullife)f.CapitalexpenditureExercise11.2a.Doubletaxationb.Marketvaluec.None(Retainedearningsisnotanamountofcash;itisanelementofowners’equity.)d.Commonstocke.None(Dividendsinarrearsareprioryears’dividendsowedtoholdersofcumulativepreferredstock.)f.Publiclyownedcorporationg.Paid-incapitalh.Retainedearningsi.None(Bookvalueiscommonstockholders’equitydividedbythenumberofcommonsharesoutstanding.)j.None(Thepriceofpreferredstockvariesinverselywithinterestrates.)