会计学：企业决策的基础财务会计分册(机械工业出版社-英文原书第15版)课后练习答案chapter02

1.2.3.4.5.Financialstatementsreflectthoseeventsthathavebeenrecordedintheaccountingrecords—namely,transactions.Therefore,theremaybeimportanteventsaffectingthefinancialstrengthandprospectsofabusinessthatdonotappearinthecompany’sfinancialstatements,suchashiringanewemployee,preparingabudget,andpreparingalong-runstrategicplan.Abusinesstransactionisaneventthatchangesthefinancialpositionofanenterprise.    Purchaseofassets(e.g.,land,buildings,equipment)forcashoroncredit.    Paymentofemployeewages.    Collectionofareceivablefromacustomer.SUGGESTEDANSWERSTODISCUSSIONQUESTIONSManyofthesequestionsarewellsuitedtoclassroomdiscussions.Thesediscussionscanstimulatestudents’interest,helpdevelopverbalskills,andprovideinstructorswithanopportunitytointroduceideasandsituationsnotdiscussedinthetext.Ifclasssizepermits,wealsoencourageinstructorstoreviewandevaluateselectedwrittenassignmentsthroughoutthecourse.Thebasicpurposeofaccountingistoprovidedecisionmakerswithinformationusefulinmakingeconomicdecisions.Aknowledgeofaccountingtermsandconceptsisusefultopersonsotherthanprofessionalaccountantsbecausenearlyeveryoneworkinginbusiness,government,ortheprofessionswillencounterthesetermsandconcepts.Supervisorsandmanagersateverylevelwillusefinancialstatements,budgets,orotherformsofaccountingreports.Investmentinsecuritiesorrealestatealsocallsfortheuseofaccountinginformation.Ineveryelection,propositionsontheballotandintheplatformsofcandidatescanbemuchbetterunderstoodbyvoterswhoarefamiliarwithaccounting.Accountinginformationisalsousefultoindividualsinhandlingtheirpersonalfinancialaffairs.Inshort,alleconomicactivityissupportedbyaccountinginformation.Afinancialstatementisameansforcommunicatinginformationaboutanenterpriseinfinancial(i.e.,dollar)terms.Itrepresentsinformationthattheaccountantbelievesisatrueandfairrepresentationofthefinancialactivityoftheenterprise.Everyfinancialstatementrelatestotimeinonewayoranother.Astatementoffinancialposition,orbalancesheet,representsa“picture”oftheenterpriseatapointintime(e.g.,theendofamonthoryear).Theincomestatementandstatementofcashflows,ontheotherhand,coveractivitythattookplaceoveraperiodoftime(e.g.,amonthoryear).Annualfinancialstatements,asthenameimplies,coveraone-yearperiodoftime.ManycompaniesusetheyearJanuary1throughDecember31astheirannualperiodforfinancialreportingpurposes.Interimfinancialstatementscoveraperiodoftimelessthanoneyear,suchasamonthorquarter(threemonths).6.    Borrowingfromabankonanotepayable.    Contributiontotheenterprisebytheowner.©TheMcGraw-HillCompanies,Inc.,2010Q1-6Ex.2.1a.1.2.b.1.2.Liabilities:$69,000$288,00070,00026,00014,000$314,00070,000Owners’equity:80,00092,000165,00062,000$468,000$468,000February28,2009Assetsareeconomicresourcesownedbythebusinessentity.AmongtheassetsofAmericanAirlineswemightexpecttofindinvestments,accountsreceivable(say,fromtravelagents),fuel(instorage),maintenancesupplies,aircraft,andvarioustypesofequipment.Thecompanyalsoownslandandbuildings—as,forexample,itscorporateheadquarters.Amongtheassetsofaprofessionalsportsteamareinvestments(instocksandbonds),notesreceivable(oftenfromplayers),trainingequipment,supplies,andofficefurniture.(Thebalancesheetofaprofessionalsportsteamusuallydoesnotincludelandorbuildings,astheygenerallydonotownthestadiumsinwhichtheyplay.)Total……………………….Total…………………………………………Retainedearnings………………..Notetoinstructor:Youmaywishtoexpandthissolutiontoincludeintangibleassets,suchastheteam’sleaguefranchise,andplayercontracts,therighttoreceivethefutureservicesofagivenplayer.(Playercontractsonlyappearasanassetiftheyhaveacost—thatis,iftheywerepurchasedfromotherteams.Advancepaymentstoplayersusuallyareshownasprepaidexpenses.)WeaddressintangibleassetsinChapter9,buttheconceptisconsistentwiththediscussionofassetsinChapter2.Liabilitiesareexistingdebtsandotherobligationsoftheentity.AmongtheliabilitiesofAmericanAirlines,wemightexpecttofindaccountspayable,notespayable(ormortgagesorbondspayable)stemmingfrompurchasesofaircraft,salariespayable,interestpayable,rentpayable(forspaceinairports),andincometaxespayable.Thebalancesheetofaprofessionalsportsteammightincludeaccountspayable,rentpayable(forthestadium),salariespayable,interestpayable,andincometaxespayable.Notetoinstructor:Inaclassroomdiscussion,youmightwanttopointoutthatbothanairlineandaprofessionalsportsteammayhaveliabilitiesforunearnedrevenue.Theairlinesellsmanyticketsinadvance,thusincurringanobligationtorenderservices(flights)ortorefundthecustomers’money.Asportsteamhasasimilarobligationwithrespecttoadvancesalesofseasontickets.WediscussunearnedrevenueinChapter4,buttheconceptcanbeintroducedearlierattheinstructor’sdiscretion.Ex.2.2DIXIETRANSPORTATIONSERVICECapitalstock……………………..Notespayable…………………….Accountspayable…………………Totalliabilities………………..BalanceSheetSOLUTIONSTOEXERCISESAssetsCash……………………….Accountsreceivable……….Supplies……………………Land……………………….Building…………………..Automobiles……………….Liabilities&Owners'Equity©TheMcGraw-HillCompanies,Inc.,2010E2.1,2$36,300Liabilities:56,700Notespayable…………