Intermediate Accounting: Reporting and ...2nd EditionWAHLEN Publisher: CengageISBN: 9781285453859
Intermediate Accounting: Reporting and ...
Solutions for Intermediate Accounting: Reporting and Analysis (Looseleaf)
Problem 7GI:
What is the Objective: Useful Information about Net Cash Inflows to the Company, and why is it...Problem 10GI:
Define (a) return on investment, (b) risk, (c) financial flexibility, (d) liquidity, and (e)...Problem 1MC:
The information provided by financial reporting pertains to: a. individual companies, rather than...Problem 2MC:
Which of the following is considered a constraint on useful information by Statement of Financial...Problem 3MC:
According to Statement of Financial Accounting Concepts No. 8, to be relevant an earnings report is...Problem 7MC:
Accruing net losses on obsolete inventory is an example of the accounting concept of: a....Problem 9MC:
An accrued expense is an expense: a. incurred but not paid b. incurred and paid c. paid but not...Problem 5C:
An accountant must be familiar with the concepts involved in determining earnings of a company. The...Problem 10C:
Accruals and Deferrals Generally accepted accounting principles require the use of accruals and...Browse All Chapters of This Textbook
Chapter 1 - The Demand For And Supply Of Financial Accounting InformationChapter 2 - Financial Reporting: Its Conceptual FrameworkChapter 3 - Review Of A Company's Accounting SystemChapter 4 - The Balance Sheet And The Statement Of Shareholders' EquityChapter 5 - The Income Statement And The Statement Of Cash FlowsChapter M - Time Value Of Money ModuleChapter 6 - Cash And ReceivablesChapter 7 - Inventories: Cost Measurement And Flow AssumptionsChapter 8 - Inventories: Special Valuation IssuesChapter 9 - Current Liabilities And Contingent Obligations
Chapter 10 - Property, Plant And Equipment: Acquisition And Subsequent InvestmentsChapter 11 - Depreciation, Depletion, Impairment, And DisposalChapter 12 - IntangiblesChapter 13 - Investments And Long-term ReceivablesChapter 14 - Financing Liabilities: Bonds And Long-term Notes PayableChapter 15 - Contributed CapitalChapter 16 - Retained Earnings And Earnings Per ShareChapter 17 - Advanced Issues In Revenue RecognitionChapter 18 - Accounting For Income TaxesChapter 19 - Accounting For Post Retirement BenefitsChapter 20 - Accounting For LeasesChapter 21 - The Statement Of Cash FlowsChapter 22 - Accounting For Changes And Errors
Sample Solutions for this Textbook
We offer sample solutions for Intermediate Accounting: Reporting and Analysis (Looseleaf) homework problems. See examples below:
Financial accounting: It is the process of recording, summarizing, and reporting all the financial...Financial Accounting Standards Board (FASB): The Financial Accounting standards Board (FASB) is the...Chapter 3, Problem 1GIChapter 3, Problem 4EChapter 3, Problem 5EWorksheet: A worksheet is a tool that is used while preparing a financial statement. It is a type of...Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year, to...Trial balance: Trial balance is a summary of all the ledger accounts balances presented in a tabular...
Chapter 3, Problem 12PChapter 4, Problem 1GIBalance sheet: This financial statement reports a company’s resources (assets) and claims of...Balance sheet: This financial statement reports a company’s resources (assets) and claims of...Balance sheet: This financial statement reports a company’s resources (assets) and claims of...Balance sheet: This financial statement reports a company’s resources (assets) and claims of...Balance sheet: This financial statement reports a company’s resources (assets) and claims of...Chapter 4, Problem 14PDetermine the return on common equity ratio of C&C Incorporation for 2013. Step 1: Calculate the...Determine the return on common equity ratio of Company H for 2013. Step 1: Calculate the average...Current assets: The assets which could be converted into cash within one year like accounts...Chapter 5, Problem 1GIGross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the...Earnings per share (EPS): The amount of net income available to each shareholder per common share...Horizontal analysis of financial statements: In horizontal analysis of financial statement, the...Classified balance sheet: The main elements of balance sheet assets, liabilities, and stockholders’...Balance Sheet: Balance Sheet is one of the financial statements which summarize the assets, the...Schedule of selling expenses is a report which reports selling expenses in a detailed manner....Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for...Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to...Worksheet: A worksheet is a tool that is used while preparing a financial statement. It is a type of...Multi step income statement: A multiple step income statement refers to the income statement that...Multi-step income statement: The income statement represented in multi-steps with several subtotals,...Chapter M, Problem 1GIFuture Value: The future value is value of present amount compounded at an interest rate until a...Annuity: An annuity is referred as a sequence of payment of fixed amount of cash flows that occurs...Situation 1: Accumulated amount from an investment of a single sum (present value) at a specified...Annuity: An annuity is referred as a sequence of payment of fixed amount of cash flows that occurs...Chapter M, Problem 17PChapter 6, Problem 1GIAccounts receivable: Accounts receivable refers to the amounts to be received within a short period...Accounts receivable: Accounts receivable refers to the amounts to be received within a short period...Accounts receivable: Accounts receivable refers to the amounts to be received within a short period...Chapter 6, Problem 19EAccount receivable: The amount of money to be received by a company for the sale of goods and...Accounts receivable: Accounts receivable refers to the amounts to be received within a short period...Chapter 6, Problem 11PChapter 6, Problem 12PChapter 6, Problem 13PAccounts receivable: Accounts receivable refers to the amounts to be received within a short period...Chapter 7, Problem 1GIChapter 7, Problem 9EChapter 7, Problem 11EPeriodic inventory system: The method or system of recording the transactions related to inventory...Chapter 7, Problem 6PChapter 7, Problem 7PGross margin (gross profit): Gross margin is the amount of revenue earned from goods sold over the...Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of...Cost index: Cost index refer to the index which relates the inventory cost of current year with the...Cost index: Cost index refer to the index which relates the inventory cost of current year with the...Lower-of-cost-or-market: The lower-of-cost-or-market (LCM) is a method which requires the reporting...Chapter 8, Problem 9EChapter 8, Problem 11ERetail inventory method: It takes into account all the retail amounts that is, the current selling...Retail inventory method: It takes into account all the retail amounts that is, the current selling...Chapter 8, Problem 9PDollar-Value-LIFO: This method shows all the inventory figures at dollar price rather than units....Dollar-Value-LIFO: This method shows all the inventory figures at dollar price rather than units....Dollar-Value-LIFO: This method shows all the inventory figures at dollar price rather than units....Liabilities: The claims creditors have over assets or resources of a company are referred to as...Note payable: Note payable denotes a long-term liability that describes the amount borrowed, signed...Prepare the journal entry to record the purchase of the toy trucks: DateAccount Titles and...Liabilities: The claims creditors have over assets or resources of a company are referred to as...(a) An interest bearing note at 12% a. Compute the cash received for interest-bearing note at 12%:...Note payable: Note payable denotes a long-term liability that describes the amount borrowed, signed...Vacation Pay Liability: Vacation pay is a benefit paid by the employers for the full-time employees...Warranty: Warranty is a written guarantee that is given by the seller to the buyer for the product...Prepare the journal entry to record the sales made during October: DateAccount Titles and...Note payable: Note payable denotes a long-term liability that describes the amount borrowed, signed...Property, Plant, and Equipment: “Property, Plant, and Equipment” refers to the fixed assets, having...Determination of cost: The procurement or acquisition cost of “property, plant and equipment”...Chapter 10, Problem 9EProperty, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a...Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a...Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a...Cost of self-constructed assets: Company sometimes constructs an item of “property, plant and...Weighted average interest rate: Weighted average interest rate is the total of the construction...Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a...Chapter 11, Problem 1GIChapter 11, Problem 1EDisposal of Assets: Disposal is an activity of selling the worn-out assets that is no longer in need...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Depreciation expense: Depreciation expense is a non-cash expense, which is recorded on the income...Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a...Intangible assets: These are the long-term assets which are not physical in nature, but possess...Patent: Patent is a right that is exclusively granted by the Government to an individual or firm to...Patent: Patent is a right that is exclusively granted by the Government to an individual or firm to...Amortization expense: The expense which reflects the usage of intangible asset by the way of...Impairment: Impairment refers to the decrease in the value of long-lived assets due to obsolescence,...Goodwill: Goodwill is the good reputation developed by a company over years. This is recorded as an...Intangible assets: These are the long-term assets which are not physical in nature, but possess...Research and development costs: It refers to the expenditures spent on research, development,...Investment: It refers to the process of using the currently held excess cash to earn profitable...Annuity: An annuity is referred as a sequence of payment of fixed amount of cash flows that occurs...Effective interest rate of bond amortization: Effective interest rate method of amortization is a...Chapter 13, Problem 8PInvestment: It refers to the process of using the currently held excess cash to earn profitable...Investment: It refers to the process of using the currently held excess cash to earn profitable...Investment: It refers to the process of using the currently held excess cash to earn profitable...Investment: It refers to the process of using the currently held excess cash to earn profitable...Note receivable: Note receivable refers to a written promise by the debtor for the amounts to be...Note receivable: Note receivable refers to a written promise received by the creditor from the...Cash surrender value of life insurance: A company which buy a life insurance policy for its...Derivatives: Derivatives are some financial instruments which are meant for managing risk and...Debt Financing: Debt financing refers to the act of raising money to meet the capital expenditures...Amortization Schedule: A schedule that gives the detail about each loan payment and shows the...Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from...Chapter 14, Problem 19EInduced Conversion: Induced conversion is a method wherein, the convertible bonds issued by the...Amortization Schedule: A schedule that gives the detail about each loan payment and shows the...Amortization Schedule: A schedule that gives the detail about each loan payment and shows the...Induced Conversion: Induced conversion is a method wherein, the convertible bonds issued by the...Bonds: Bonds are long-term promissory notes that are issued by a company while borrowing money from...Troubled Debt Restructuring: A troubled debt restructuring happens if a creditor, for legal or...Troubled Debt Restructuring: A troubled debt restructuring happens if a creditor, for legal or...Compute the value of impaired loan as on December 31, 2016. ParticularsAmount (A)Present value...Articles of incorporation: It is an application to incorporate the corporation subjected to the...Share option plan: This is an option given to an employee to buy a certain number of shares of stock...Chapter 15, Problem 14EStock Warrants: Stock warrants are the rights issued to the shareholders of a company to buy...Share option plan: This is an option given to an employee to buy a certain number of shares of stock...Share option plan: This is an option given to an employee to buy a certain number of shares of stock...Share option plan: This is an option given to an employee to buy a certain number of shares of stock...Chapter 15, Problem 7PChapter 15, Problem 8PLegal capital: It is an amount of capital which is restricted for the purpose of dividends and other...Chapter 16, Problem 1GIEarnings per share (EPS): The amount of net income available to each shareholder per common share...Chapter 16, Problem 1PRetained earnings: Retained earnings are that portion of profits which are earned by a company but...Retained earnings: Retained earnings are that portion of profits which are earned by a company but...Retained earnings: Retained earnings are that portion of profits which are earned by a company but...Shareholders’ Equity Section: It is refers to the section of the balance sheet that shows the...Stockholders’ Equity Section: It is refers to the section of the balance sheet that shows the...Earnings per share (EPS): The amount of net income available to each shareholder per common share...Calculate the basic earnings per share and diluted earnings per share. (Figure 1) Working notes: (1)...Earnings per share (EPS): The amount of net income available to each shareholder per common share...Revenue recognition principle: Revenue recognition principle states that every business organization...Transaction price: Transaction price is the amount of consideration that is estimated by the company...Stand-alone selling price: The “stand-alone selling price” is the price at which promised goods and...Contract modification: In a contract, Companies generally modify the respective rights and...Revenue recognition by Companies: Companies must recognise revenues to represent the “Transmission...Contract: Contract is an agreement among two parties or more parties which includes enforceable...Transaction price: Transaction price is the amount of consideration that is estimated by the company...Contract: Contract is an agreement among two parties or more parties which includes enforceable...Chapter 17, Problem 8PContract: Contract is an agreement among two parties or more parties which includes enforceable...Contract: Contract is an agreement among two parties or more parties which includes enforceable...Chapter 18, Problem 1GIDeferred tax asset When the Income Tax Expense account is more than the Income Tax Payable account,...Prepare a schedule that shows MACRS depreciation from 2016 through 2023: YearMACRS Depreciation...Prepare a schedule that shows MACRS depreciation from 2016 through 2019: YearMACRS Depreciation...Temporary Difference: Temporary difference refers to the difference of one income recognized by the...Operating loss carryback: Carry back of net operating losses can help provide cash infusion for...Operating loss carryback: Carry back of net operating losses can help provide cash infusion for...Balance sheet: Balance Sheet is one of the financial statements that summarize the assets, the...Prepare a schedule to distribute the income tax expense to the components of pre-tax income: Company...Inter-period Income Tax Allocation: The temporary difference and permanent difference arise out of...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Pension plan: Pension plan is the plan devised by corporations to pay the employees an income after...Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of...Chapter 20, Problem 8ELease: Lease is a contractual agreement whereby the right to use an asset for a particular period of...Lease: Lease is a contractual agreement whereby the right to use an asset for a particular period of...Prepare a table summarizing the lease receipts and interest revenue earned by the lessor for the...Chapter 20, Problem 7PLease: Lease is a contractual agreement whereby the right to use an asset for a particular period of...Compute the lessor’s (Company B) periodic rental receipts: Peridic Rental Receipts = Cost of...Compute the annual rental amount of Company L, as follows: Annul Rental Amount = Cost of...Chapter 21, Problem 1GIStatement of cash flows: Cash flow statement reports all the cash transactions which are responsible...Statement of cash flows: Statement of cash flows reports all the cash transactions which are...Chapter 21, Problem 6PWorksheet: A worksheet is a spreadsheet used while preparing a financial statement. It is a type of...Statement of cash flows: Cash flow statement reports all the cash transactions which are responsible...Balance sheet: This financial statement reports a company’s resources (assets) and claims of...Statement of cash flows: This statement reports all the cash transactions which are responsible for...Statement of cash flows: Cash flow statement reports all the cash transactions which are responsible...Statement of cash flows: This statement reports all the cash transactions which are responsible for...Accounting changes: When a company requires to sacrifice the consistent accounting methods and...Chapter 22, Problem 13EErrors: The comparability and consistency of the financial statements decreases when a company...Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Journal entry: Journal entry is a set of economic events which can be measured in monetary terms....Errors: The comparability and consistency of the financial statements decreases when a company...Errors: The comparability and consistency of the financial statements decreases when a company...
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