SlideShare ist ein Scribd-Unternehmen logo
1 von 3
ACC 421 Week 4 WileyPlus Assignment – Exercises
E23-1 E23-4 E23-7 E23-11 E23-12



CLICK THIS LINK FOR ANSWERS:
http://homeworkfox.com/questions/business/503/acc-421-
week-4-wileyplus-assignment-exercises/
E23-1 (Classification of Transactions) Springsteen Co. had the following activity in its most recent year
of operations.

(a) Pension expense exceeds amount funded.

(b) Redemption of bonds payable.

(c) Sale of building at book value.

(d) Depreciation.

(e) Exchange of equipment for furniture.

(f) Issuance of capital stock.

(g) Amortization of intangible assets.

(h) Purchase of treasury stock.

(i) Issuance of bonds for land.

(j) Payment of dividends.

(k) Increase in interest receivable on notes receivable.

(l) Purchase of equipment.

Instructions

Classify the items as (1) operating—add to net income; (2) operating—deduct from net income; (3)
investing; (4) financing; or (5) significant noncash investing and financing activities. Use the indirect
method.

E23-4 (Preparation of Operating Activities Section—Direct Method) Data for the Rodriquez Company
are presented in E23-3.

data from E23-3

Rodriquez Company
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2010
Sales $6,900,000
Cost of goods sold
Beginning inventory $1,900,000
Purchases 4,400,000
Goods available for sale 6,300,000
Ending inventory 1,600,000
Cost of goods sold 4,700,000
Gross profit 2,200,000
Operating expenses
Selling expenses 450,000
Administrative expenses 700,000 1,150,000
Net income $1,050,000

and so on ...

E23-7 (Computation of Operating Activities—Direct Method) Presented below are two independent
situations.

Situation A:

Chenowith Co. reports revenues of $200,000 and operating expenses of $110,000 in its first year of
operations, 2010. Accounts receivable and accounts payable at year-end were $71,000 and $39,000,
respectively. Assume that the accounts payable related to operating expenses. Ignore income taxes.

Instructions

Using the direct method, compute net cash provided (used) by operating activities.

Situation B:

The income statement for Edgebrook Company shows cost of goods sold $310,000 and operating
expenses (exclusive of depreciation) $230,000. The comparative balance sheet for the year shows that
inventory increased $21,000, prepaid expenses decreased $8,000, accounts payable (related to
merchandise) decreased $17,000, and accrued expenses payable increased $11,000.

Instructions
Compute (a) cash payments to suppliers and (b) cash payments for operating expenses.

E23-11 (SCF—Indirect Method) Condensed financial data of Fairchild Company for 2010 and 2009 are
presented below.

Fairchild Company
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2010 AND 2009
2011 2010
Cash $1,800 $1,100
Receivables 1,750 1,300
Inventory 1,600 1,900
Plant assets 1,900 1,700
Accumulated depreciation (1,200) (1,170)
Long-term investments (Held-to-maturity) 1,300 1,470
$7,150 $6,300
Accounts payable $1,200 $ 800
Accrued liabilities 200 250
Bonds payable 1,400 1,650
Capital stock 1,900 1,700
Retained earnings 2,450 1,900
$7,150 $6,300

and so on ...

E23-12 (SCF—Direct Method) Data for Fairchild Company are presented in E23-11.

Instructions
Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)

Weitere ähnliche Inhalte

Kürzlich hochgeladen

Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7
9953056974 Low Rate Call Girls In Saket, Delhi NCR
 

Kürzlich hochgeladen (20)

Female Escorts Service in Hyderabad Starting with 5000/- for Savita Escorts S...
Female Escorts Service in Hyderabad Starting with 5000/- for Savita Escorts S...Female Escorts Service in Hyderabad Starting with 5000/- for Savita Escorts S...
Female Escorts Service in Hyderabad Starting with 5000/- for Savita Escorts S...
 
Famous No1 Amil Baba Love marriage Astrologer Specialist Expert In Pakistan a...
Famous No1 Amil Baba Love marriage Astrologer Specialist Expert In Pakistan a...Famous No1 Amil Baba Love marriage Astrologer Specialist Expert In Pakistan a...
Famous No1 Amil Baba Love marriage Astrologer Specialist Expert In Pakistan a...
 
2999,Vashi Fantastic Ellete Call Girls📞📞9833754194 CBD Belapur Genuine Call G...
2999,Vashi Fantastic Ellete Call Girls📞📞9833754194 CBD Belapur Genuine Call G...2999,Vashi Fantastic Ellete Call Girls📞📞9833754194 CBD Belapur Genuine Call G...
2999,Vashi Fantastic Ellete Call Girls📞📞9833754194 CBD Belapur Genuine Call G...
 
Vip Call Girls Rasulgada😉 Bhubaneswar 9777949614 Housewife Call Girls Servic...
Vip Call Girls Rasulgada😉  Bhubaneswar 9777949614 Housewife Call Girls Servic...Vip Call Girls Rasulgada😉  Bhubaneswar 9777949614 Housewife Call Girls Servic...
Vip Call Girls Rasulgada😉 Bhubaneswar 9777949614 Housewife Call Girls Servic...
 
Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...
Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...
Solution Manual For Financial Statement Analysis, 13th Edition By Charles H. ...
 
Explore Dual Citizenship in Africa | Citizenship Benefits & Requirements
Explore Dual Citizenship in Africa | Citizenship Benefits & RequirementsExplore Dual Citizenship in Africa | Citizenship Benefits & Requirements
Explore Dual Citizenship in Africa | Citizenship Benefits & Requirements
 
Dubai Call Girls Deira O525547819 Dubai Call Girls Bur Dubai Multiple
Dubai Call Girls Deira O525547819 Dubai Call Girls Bur Dubai MultipleDubai Call Girls Deira O525547819 Dubai Call Girls Bur Dubai Multiple
Dubai Call Girls Deira O525547819 Dubai Call Girls Bur Dubai Multiple
 
W.D. Gann Theory Complete Information.pdf
W.D. Gann Theory Complete Information.pdfW.D. Gann Theory Complete Information.pdf
W.D. Gann Theory Complete Information.pdf
 
In Sharjah ௵(+971)558539980 *_௵abortion pills now available.
In Sharjah ௵(+971)558539980 *_௵abortion pills now available.In Sharjah ௵(+971)558539980 *_௵abortion pills now available.
In Sharjah ௵(+971)558539980 *_௵abortion pills now available.
 
Call Girls in Benson Town / 8250092165 Genuine Call girls with real Photos an...
Call Girls in Benson Town / 8250092165 Genuine Call girls with real Photos an...Call Girls in Benson Town / 8250092165 Genuine Call girls with real Photos an...
Call Girls in Benson Town / 8250092165 Genuine Call girls with real Photos an...
 
Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7
Call Girls in Tilak Nagar (delhi) call me [🔝9953056974🔝] escort service 24X7
 
Technology industry / Finnish economic outlook
Technology industry / Finnish economic outlookTechnology industry / Finnish economic outlook
Technology industry / Finnish economic outlook
 
cost-volume-profit analysis.ppt(managerial accounting).pptx
cost-volume-profit analysis.ppt(managerial accounting).pptxcost-volume-profit analysis.ppt(managerial accounting).pptx
cost-volume-profit analysis.ppt(managerial accounting).pptx
 
Collecting banker, Capacity of collecting Banker, conditions under section 13...
Collecting banker, Capacity of collecting Banker, conditions under section 13...Collecting banker, Capacity of collecting Banker, conditions under section 13...
Collecting banker, Capacity of collecting Banker, conditions under section 13...
 
Bhubaneswar🌹Ravi Tailkes ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswar ...
Bhubaneswar🌹Ravi Tailkes  ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswar ...Bhubaneswar🌹Ravi Tailkes  ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswar ...
Bhubaneswar🌹Ravi Tailkes ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswar ...
 
✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...
✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...
✂️ 👅 Independent Bhubaneswar Escorts Odisha Call Girls With Room Bhubaneswar ...
 
Business Principles, Tools, and Techniques in Participating in Various Types...
Business Principles, Tools, and Techniques  in Participating in Various Types...Business Principles, Tools, and Techniques  in Participating in Various Types...
Business Principles, Tools, and Techniques in Participating in Various Types...
 
Kurla Capable Call Girls ,07506202331, Sion Affordable Call Girls
Kurla Capable Call Girls ,07506202331, Sion Affordable Call GirlsKurla Capable Call Girls ,07506202331, Sion Affordable Call Girls
Kurla Capable Call Girls ,07506202331, Sion Affordable Call Girls
 
Bhubaneswar🌹Kalpana Mesuem ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswa...
Bhubaneswar🌹Kalpana Mesuem  ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswa...Bhubaneswar🌹Kalpana Mesuem  ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswa...
Bhubaneswar🌹Kalpana Mesuem ❤CALL GIRLS 9777949614 💟 CALL GIRLS IN bhubaneswa...
 
20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...
20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...
20240419-SMC-submission-Annual-Superannuation-Performance-Test-–-design-optio...
 

Empfohlen

Social Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie InsightsSocial Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie Insights
Kurio // The Social Media Age(ncy)
 
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them wellGood Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Saba Software
 

Empfohlen (20)

Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)Content Methodology: A Best Practices Report (Webinar)
Content Methodology: A Best Practices Report (Webinar)
 
How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024How to Prepare For a Successful Job Search for 2024
How to Prepare For a Successful Job Search for 2024
 
Social Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie InsightsSocial Media Marketing Trends 2024 // The Global Indie Insights
Social Media Marketing Trends 2024 // The Global Indie Insights
 
Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024Trends In Paid Search: Navigating The Digital Landscape In 2024
Trends In Paid Search: Navigating The Digital Landscape In 2024
 
5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary5 Public speaking tips from TED - Visualized summary
5 Public speaking tips from TED - Visualized summary
 
ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd ChatGPT and the Future of Work - Clark Boyd
ChatGPT and the Future of Work - Clark Boyd
 
Getting into the tech field. what next
Getting into the tech field. what next Getting into the tech field. what next
Getting into the tech field. what next
 
Google's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search IntentGoogle's Just Not That Into You: Understanding Core Updates & Search Intent
Google's Just Not That Into You: Understanding Core Updates & Search Intent
 
How to have difficult conversations
How to have difficult conversations How to have difficult conversations
How to have difficult conversations
 
Introduction to Data Science
Introduction to Data ScienceIntroduction to Data Science
Introduction to Data Science
 
Time Management & Productivity - Best Practices
Time Management & Productivity -  Best PracticesTime Management & Productivity -  Best Practices
Time Management & Productivity - Best Practices
 
The six step guide to practical project management
The six step guide to practical project managementThe six step guide to practical project management
The six step guide to practical project management
 
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
Beginners Guide to TikTok for Search - Rachel Pearson - We are Tilt __ Bright...
 
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
 
12 Ways to Increase Your Influence at Work
12 Ways to Increase Your Influence at Work12 Ways to Increase Your Influence at Work
12 Ways to Increase Your Influence at Work
 
ChatGPT webinar slides
ChatGPT webinar slidesChatGPT webinar slides
ChatGPT webinar slides
 
More than Just Lines on a Map: Best Practices for U.S Bike Routes
More than Just Lines on a Map: Best Practices for U.S Bike RoutesMore than Just Lines on a Map: Best Practices for U.S Bike Routes
More than Just Lines on a Map: Best Practices for U.S Bike Routes
 
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
Ride the Storm: Navigating Through Unstable Periods / Katerina Rudko (Belka G...
 
Barbie - Brand Strategy Presentation
Barbie - Brand Strategy PresentationBarbie - Brand Strategy Presentation
Barbie - Brand Strategy Presentation
 
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them wellGood Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
 

Acc 421 week 4 wiley plus assignment

  • 1. ACC 421 Week 4 WileyPlus Assignment – Exercises E23-1 E23-4 E23-7 E23-11 E23-12 CLICK THIS LINK FOR ANSWERS: http://homeworkfox.com/questions/business/503/acc-421- week-4-wileyplus-assignment-exercises/ E23-1 (Classification of Transactions) Springsteen Co. had the following activity in its most recent year of operations. (a) Pension expense exceeds amount funded. (b) Redemption of bonds payable. (c) Sale of building at book value. (d) Depreciation. (e) Exchange of equipment for furniture. (f) Issuance of capital stock. (g) Amortization of intangible assets. (h) Purchase of treasury stock. (i) Issuance of bonds for land. (j) Payment of dividends. (k) Increase in interest receivable on notes receivable. (l) Purchase of equipment. Instructions Classify the items as (1) operating—add to net income; (2) operating—deduct from net income; (3) investing; (4) financing; or (5) significant noncash investing and financing activities. Use the indirect method. E23-4 (Preparation of Operating Activities Section—Direct Method) Data for the Rodriquez Company are presented in E23-3. data from E23-3 Rodriquez Company INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2010
  • 2. Sales $6,900,000 Cost of goods sold Beginning inventory $1,900,000 Purchases 4,400,000 Goods available for sale 6,300,000 Ending inventory 1,600,000 Cost of goods sold 4,700,000 Gross profit 2,200,000 Operating expenses Selling expenses 450,000 Administrative expenses 700,000 1,150,000 Net income $1,050,000 and so on ... E23-7 (Computation of Operating Activities—Direct Method) Presented below are two independent situations. Situation A: Chenowith Co. reports revenues of $200,000 and operating expenses of $110,000 in its first year of operations, 2010. Accounts receivable and accounts payable at year-end were $71,000 and $39,000, respectively. Assume that the accounts payable related to operating expenses. Ignore income taxes. Instructions Using the direct method, compute net cash provided (used) by operating activities. Situation B: The income statement for Edgebrook Company shows cost of goods sold $310,000 and operating expenses (exclusive of depreciation) $230,000. The comparative balance sheet for the year shows that inventory increased $21,000, prepaid expenses decreased $8,000, accounts payable (related to merchandise) decreased $17,000, and accrued expenses payable increased $11,000. Instructions Compute (a) cash payments to suppliers and (b) cash payments for operating expenses. E23-11 (SCF—Indirect Method) Condensed financial data of Fairchild Company for 2010 and 2009 are presented below. Fairchild Company COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2010 AND 2009 2011 2010 Cash $1,800 $1,100 Receivables 1,750 1,300 Inventory 1,600 1,900 Plant assets 1,900 1,700 Accumulated depreciation (1,200) (1,170) Long-term investments (Held-to-maturity) 1,300 1,470 $7,150 $6,300 Accounts payable $1,200 $ 800 Accrued liabilities 200 250
  • 3. Bonds payable 1,400 1,650 Capital stock 1,900 1,700 Retained earnings 2,450 1,900 $7,150 $6,300 and so on ... E23-12 (SCF—Direct Method) Data for Fairchild Company are presented in E23-11. Instructions Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)