Accounting Principles volume 212th EditionKimmel and Kieso (Custom for LaGuardia Community College) Weygandt Publisher: WILEY CISBN: 9781119132233
Accounting Principles volume 2
Solutions for Accounting Principles volume 2
Problem 4Q:
4. What uses of financial accounting information are made by (a) investors and (b) creditors?
Problem 6Q:
6. Trenton Travel Agency purchased land for $90,000 cash on December 10, 2017. At December 31, 2017,...Problem 7Q:
7. What is the monetary unit assumption?
Problem 8Q:
8. What is the economic entity assumption?
Problem 11Q:
11. What is basic accounting equation?
Problem 13Q:
13. Which of the following items are liabilities of Siebers Jewelry Stores?
Cash.
Accounts...Problem 14Q:
14. Can a business enter into a transaction in which only the left side of the basic accounting...Problem 15Q:
15. Are the following events recorded in the accounting records? Explain your answer in each...Problem 16Q:
16. Indicate how the following business transactions affect the basic accounting equation.
(a) Paid...Problem 20Q:
20. Saylor Enterprises had a capital balance of $168,000 at the beginning of the period. At the end...Problem 21Q:
21. Summarized operations for Bayles Co. for the month of July are as follows.
Revenues recognized:...Problem 22Q:
22. The basic accounting equation is Assets = Liabilities + Owner’s equity. Replacing the words in...Problem 1.1BE:
BE1-1 Presented below is the basic accounting equation. Determine the missing amounts.
Problem 1.2BE:
BE1-2 Given the accounting equation, answer each of the following questions.
(a) The liabilities of...Problem 1.3BE:
BE 1-3 At the beginning of the year, Gilles Company had total assets of $800,000 and total...Problem 1.4BE:
BE1-4 Use the expanded accounting equation to answer each of the following questions.
(a) The...Problem 1.5BE:
BE1-5 Indicate whether each of the following items is an asset (A), liability (L), or part of...Problem 1.6BE:
BE1-6 Presented below are three business transactions. On a sheet of paper, list the letters (a),...Problem 1.7BE:
BE1-7 Follow the same format as in BE1-6. Determine the effect on assets, liabilities, and owner’s...Problem 1.8BE:
BE1-8 Classify each of the following items as owner’s drawings (D), revenue (R), or expense...Problem 1.9BE:
BE 1 - 9 Presented below are three transactions. Mark each transaction as affecting owner’s...Problem 1.10BE:
BE1-10 In alphabetical order below are balance sheet items for Mendoza Company at December 31, 2017....Problem 1.11BE:
BE1-11 Indicate whether the following items would appear on the income statement (IS), balance sheet...Problem 1.2DIE:
Indicate whether each of the five statements presented below is true or false.
1. Congress passed...Problem 1.5DIE:
Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports...Problem 1.2E:
E1-2 (a) The following are users of financial statements.
Customers Securities and Exchange...Problem 1.3E:
E1-3 Angela Duffy, president of Duffy Company, has instructed Jana Barth, the head of the accounting...Problem 1.4E:
E1-4 The following situations involve accounting principles and assumptions.
1. Tisinai Company owns...Problem 1.5E:
E1-5 Diehl Cleaners has the following balance sheet items.
Accounts payable Accounts...Problem 1.6E:
E1-6 Selected transactions for Green Valley Lawn Care Company are listed below.
1. Made cash...Problem 1.7E:
E1-7 Falske Computer Timeshare Company entered into the following transactions during May 2017.
1....Problem 1.8E:
E1-8 An analysis of the transactions made by Arthur Cooper & Co., a certified public accounting...Problem 1.9E:
E1-9 An analysis of transactions for Arthur Cooper & Co. was presented in E1-8.
Instructions
Prepare...Problem 1.10E:
E1-10 Finch Company had the following assets and liabilities on the dates indicated.
December...Problem 1.11E:
E1-11 Two items are omitted from each of the following summaries of balance sheet and income...Problem 1.12E:
E1-12 The following information relates to Armanda Co. for the year 2017.
Owner’s capital, January...Problem 1.13E:
E1-13 Abby Roland is the bookkeeper for Cheng Company. Abby has been trying to determine the correct...Problem 1.14E:
E1-14 Loren Satina is the sole owner of Clear View Park, a public camping ground near the Lake Mead...Problem 1.15E:
E1-15 Presented below is financial information related to the 20I7 operations of Sea Legs Cruise...Problem 1.16E:
E1-16 Presented below is information related to the sole proprietorship of Alice Henning,...Problem 1.1AP:
P1-1A On April 1, Julie Spengel established Spengel’s Travel Agency. The following transactions were...Problem 1.2AP:
P1-2A Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet showed Cash...Problem 1.3AP:
P1-3A On June 1, Cindy Godfrey started Divine Designs Co., a company that provides craft...Problem 1.4AP:
P1-4A Trixie Maye started her own consulting firm, Matrix Consulting, on May 1, 20I7. The following...Browse All Chapters of This Textbook
Chapter 1 - Accounting In ActionChapter 2 - The Recording ProcessChapter 3 - Adjusting The AccountsChapter 4 - Completing The Accounting CycleChapter 5 - Accounting For Merchandising OperationsChapter 6 - InventoriesChapter 7 - Accounting Information SystemsChapter 8 - Fraud, Internal Control, And CashChapter 9 - Accounting For ReceivablesChapter 10 - Plant Assets, Natural Resources, And Intangible Assets
Chapter 11 - Current Liabilities And Payroll AccountingChapter 12 - Accounting For PartnershipsChapter 13 - Corporations: Organization And Capital Stock TransactionsChapter 14 - Corporations: Dividends, Retained Earnings, And Income ReportingChapter 15 - Long-Term LiabilitiesChapter 16 - InvestmentsChapter 17 - Statement Of Cash FlowsChapter 18 - Financial Statement AnalysisChapter 19 - Managerial AccountingChapter 20 - Job Order CostingChapter 21 - Process CostingChapter 22 - Cost-Volume-ProfitChapter 23 - Budgetary PlanningChapter 24 - Budgetary Control And Responsibility AccountingChapter 25 - Standard Costs And Balanced ScorecardChapter 26 - Incremental Analysis And Capital Budgeting
Sample Solutions for this Textbook
We offer sample solutions for Accounting Principles volume 2 homework problems. See examples below:
Explanation: There are various users (owner, employees, government, creditors and investors) of...Explanation: The title of the account: The title of the account is basically the name of the...Explanation: Time period assumption affects accountant’s business analysis in following ways:...Explanation: A worksheet is prepared to summarize the information needed for the preparation of...Explanation: The accounting cycle of a merchandising company is quite different from the accounting...Explanation: The effective management of inventory includes the prevention of goods wastage...Explanation: Accounting information system is the system which provides information about the...Explanation: Meaning of fraud: Fraud can be defined as an act of dishonesty that can be performed by...Explanation: The difference between an account receivable and a note receivable are explained as...
Explanation: In the given case, Mr. S is uncertain about the applicability of historical cost...Explanation: Liabilities usually categorized into two parts that are current liabilities and...Explanation: Association of individuals: A partnership is not known by individual names of the...Explanation: Separate legal existence: A business which is detached from another business in terms...Explanation: The company provides return to its shareholders by paying a dividend which is out of...Explanation: Long-term liabilities are the liabilities of the company which can be converted into...Explanation: Corporations invest in securities to utilize the available funds and earn returns....Chapter 17, Problem 1QAnalysis of financial statements of the firm helps to frame policies and plans. Financial analysis...Explanation: The statement “managerial accounting is a field of accounting that provides economic...Explanation: The difference between cost accounting and a cost accounting system is explained as...Explanation: (a) Q Company Costing system used by Q Company would be process costing. Explanation: Q...Explanation: Different types of costs are incurred in the business some of them change as per the...Explanation: Budget represents the estimated values of specified accounts for future time periods....Explanation: (a) The use of appropriate budgets in order to systematize the operations of...Explanation: Standard costs are the costs which are estimated by a company to measure its own...Explanation: Management decision making process does not always adhere to a set pattern due to the...
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