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© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin1 Review Exercise Chapter 11, 13-15 11, 13-15
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin2 Exercise 1: Warranty Expense (Chap 11) August,16,2005 Chang Co. sold copier costing $3,800 with $5,500 cash Nov,22,2006 on-site repair of the copier with $199 repair inventory Chang expect warranty cost of 4% of dollar sales
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin3 Exercise 2: Cumulative & Noncumulative Preferred Stock Dividend (Chap 13) Citicool’s outstanding stock consist of 40,000 shares of noncumulative 7.5% preferred stock with $10 par value, 100,000 shares of common stock with $1 par value How about dividend for two type stock if preferred stock is cumulative?
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin4 Exercise 3: Treasury Stock (Chap 13) Oct,10 Nobel System’s statement of Stockholders’ Equity 1.Prepare Journal Entry Oct,11 Purchase 4,500 shares of its own stock with $30 per share Nov,1 Sell 1,200 shares with $36 per share Nov,25 Sell remaining treasury stock for $25 per share 2.Nobel’s statement of stockholder’s equity before treasury stock purchase (oct,10) and after.
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin5 Exercise 4: Bond Issuance, Bond Discount Amortization & Bond Retirement (Chap 14) January 1,2004 Steadman issue $350,000 of 10%, 15-year bond at a price 97.75. Six years later, Jan,1,2010 Steadman retires 20% of the bond with price 104.50. All interest paid before purchase. Straight-line amortization is used. Journal Entry for Bond Issue Amortization of Bond Discount 1/1/2004-12/31/2009 Carry value of Bond and 20% of Bond Journal Entry of retirement of 20% Bond
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin6 Exercise 5: Installment Note with Equal Payments or Equal Principal Payments (Chap 14) January 1,2005, Randa borrow $25,000 cash by signing a 4- year 7% Installment Note, Randa will pay equal payment on Dec,31,2005- 2008 What’s the amount of equal payment? Amortization of Equal Payment How about if Randa pay Equal Principal Payment?
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin7 Exercise 6: Equity Method (Chap 15) Kash Company 2005 Jan,2 Purchase 30,000 shares of Bushtex Co. common stock for $204,000 cash and broker’s fee $3,480 cash. Bushtex has 90,000 shares outstanding Sept,1 Bushtex declare and Paid a Cash dividend $3.10 Dec,31 Bushtex announce Net income of $624,900 2006 June,1 Bushtex declare and Paid a Cash dividend $3.60 Dec,31 Bushtex announce Net income of $699,750 Dec,31 Kash sold 10,000 shares of Bushtex for $162,500
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin8 Exercise 7: Trading Portfolio (Chap 15) Dec,27,2005 Forex Co. purchase investment in trading securities at a cost of $56,000 Dec,31,2005 these securities had a market value of $66,000 This is first and only purchase of such securities
Chapter 11 Reporting and Interpreting Owners’ Equity.
CHAPTER 14 Statement of Cash Flows. The McGraw-Hill Companies, Inc. 2008McGraw-Hill/Irwin 14-2 Chapter Opening To make informed investment and credit.
Chapter 16-1 CHAPTER 16 INVESTMENTS Accounting Principles, Eighth Edition.
© The McGraw-Hill Companies, Inc., 2008 McGraw-Hill/Irwin Chapter 12 Reporting and Analyzing Cash Flows.
Copyright © 2007 Prentice-Hall. All rights reserved 1 Long-Term Liabilities Chapter 15.
© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin Slide 13-1 STATEMENT OF CASH FLOWS Chapter 13.
Electronic Presentations in Microsoft ® PowerPoint ® Prepared by James Myers, C.A. University of Toronto © 2010 McGraw-Hill Ryerson Limited Chapter 7,
© The McGraw-Hill Companies, Inc., 2006 McGraw-Hill/Irwin1 Review Exercise Chapter 4-6.
© 2007 The McGraw-Hill Companies, Inc. McGraw-Hill/Irwin The Statement of Cash Flows Revisited 21.
Chapter 11, Slide #1 Ch.11 Shareholders’ Equity Prof. J. Wang.
Financial Accounting John J. Wild Sixth Edition John J. Wild Sixth Edition Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.
Chapter 16 Homework Day Lennon Industries had the following stock outstanding: 6%, cumulative, p/s, $100 par, issued/out 10,000 sh.. $1,000,000.
1 Dilutive Securities and Earnings Per Share Chapter 16 Intermediate Accounting 12th Edition Kieso, Weygandt, and Warfield Prepared by Coby Harmon, University.
ACCOUNTING REVIEW ACCOUNTING JEOPARDY DOCSEDA Debit/CreditAdjustments Income Statement Balance SheetStatement of Equity
1 Earnings per Share The Introductory Lecture for Acct 414.
1 Sale of Securities On April 1, 2006, the investment in Silmarils debt securities is sold for $103,000, which includes accrued interest of $2,500. On.
Stockholders’ Equity Chapter 13 Exercises. Issuing Stock In-Class Exercise (Form groups and work exercise): Exercise Page E Stock Issue Transactions.
30-1. Cost-Revenue Analysis for Decision Making Section 1: The Decision Process Chapter 30 Section Objectives 1.Explain the basic steps in the decision-making.
© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin THE ACCOUNTING CYCLE: Capturing Economic Events Chapter 3.
McGraw-Hill/Irwin 14-1 © The McGraw-Hill Companies, Inc., 2005 Long-Term Liabilities Chapter 14.
Chapter 15 Investments Skyline College Lecture Notes.
1 CHAPTER 7 Cost of Goods Sold & Inventory. 2 Key Terms Inventory (beginning, ending) Cost of goods sold (COGS) Inventory cost flow assumptions Lower.
McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Merchandising Activities Chapter 6.
1.Explain a current liability, and identify the major types of current liabilities. 2.Describe the accounting for notes payable. 3.Explain the accounting.
Chapter 10, Slide #1 Ch.10 Long-Term Liabilities Prof. J. Wang.
Copyright © 2008, The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin Chapter Fifteen “How Well Am I Doing?” Statement of Cash Flows.
1 2 Analyzing Transactions The T account has a title. The T Account Title 1.
McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter 10 Long-Term Liabilities. Conceptual Learning Objectives NOT COVERED: A1: Compare bond financing with stock financing. P4: Record the retirement.
Proprietorships, Partnerships, and Corporations Acct 2210: Chp 11 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.
Financial Accounting Fundamentals John J. Wild Third Edition John J. Wild Third Edition McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies,
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., Analysis of Financial Statements Chapter 17.
Stockholder’s Equity Owner’s Equity is comprised of three elements: Capital Stock Additional Paid-In Capital Retained Earnings Contributed Capital by owners.
Components of Stockholders’ Equity Paid-in capital “Legal” capital (par or stated value) Additional paid-in capital Accumulated other comprehensive.
Retained Earnings, Treasury Stock, and the Income Statement Chapter 14.
Earnings per Share. Financial statement users use earnings per share (EPS) to judge a company’s performance and to compare it with performance of other.
Copyright © 2008, The McGraw-Hill Companies, Inc.McGraw-Hill/Irwin “How Well Am I Doing?” Financial Statement Analysis Chapter Sixteen.
PowerPoint Authors: Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D., CPA, CIA Cynthia J. Rooney, Ph.D., CPA Copyright.
1 6.1 Bond Valuation 6.2 Common Stock Valuation Summary and Conclusions Chapter Organisation.
Vargo Company has bonds payable outstanding in the amount of $500,000 and the Premium on Bonds Payable account has a balance of $7,500. Each $1,000.
Chapter ADVANTAGES 1.Corporations can raise more money 2.Corporations have continuous life 3.Ownership transfer is easy 4.No mutual agency 5.Stockholders.
MANAGEMENT DECISIONS AND FINANCIAL ACCOUNTING REPORTS Baginski & Hassell.
Chapter 13 Equity Valuation 13-2 Irwin/McGraw-Hill © The McGraw-Hill Companies, Inc., 1998 Fundamental Stock Analysis: Models of Equity Valuation Basic.
Demonstration Problem Chapter 5 – Problem 27 Cost Flow Assumptions – FIFO and LIFO Using Periodic and Perpetual Systems Accounting What the Numbers Mean.
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