《会计学教程与案例》财务会计答案solutiontoAccoun

Chapter03-BasicAccountingConcepts:TheIncomeStatement3-1CHAPTER1THENATUREANDPURPOSEOFACCOUNTINGChangesfromTwelfthEditionThechapterhasbeenupdated.ApproachOnthefirstday,theusualobjectiveistocreateinterestinthesubject,tosetthescene,andtogiveanoverviewofthecourse.Thefirstpartofthechapterdoesthis.Thesecondpartofthechaptergivesafairlyspecificintroductiontothenatureoffinancialaccounting.Instructorsprobablymaywanttobringinmaterialfromtheirownreadingorexperiencetomaketheintroductorypoints.CasesThecasesareintendedtogetthestudenttostartthinkinglikeaccountantsandusersofaccountinginformation,withoutknowledgeofanyofthetechniques.Ribbonsan’Bowsgivesstudentsanopportunitytoconstructasimplesetoffinancialstatements.KimFullercanbeusedasaspringboardforanytypeofdiscussion:usesofinformationbyvariousparties,thecostofrecord-keeping,oreventhedevelopmentofacompleteaccountingsystem.BaronCoburgillustratespracticallyallofthebasicaccountingconcepts,withoutnamingthem.Itisadifficultcase,butenlightening,evenforthosewithsomeprioraccountingtraining.ProblemsProblem1-1CHARLESCOMPANYBALANCESHEETASOFDECEMBER31,----.AssetsLiabilitiesandOwners’EquityCash..................................................................................................................................................................................................................$12,000Bankloan.........................................................................................................................................................................................................$40,000Inventory..........................................................................................................................................................................................................95,000Owners’EquityOtherassets.....................................................................................................................................................................................................13,000Owners’equity.............................................................................................................................................................................................80,000Totalassets.......................................................................................................................................................................................................$120,000Totalliabilitiesandowners’equity...............................................................................................................................................................................................................$120,000Thisproblemcanbeusedtoexplaincertainaccountingpresentationconventions.Forexample,theuseofdoublelinestounderscoreatotal,thepositionofthedollarsignatthetopofacolumnofnumbers,andthedatingofthebalancesheet.Thepurposeofthisproblemistoillustratetheequalityofthebasicaccountingequation:assetsequalliabilitiesplusowners’equity.Chapter03-BasicAccountingConcepts:TheIncomeStatement3-2Problem1-2Themissingnumbersare:Year1Noncurrentassets...................................................................................................................................................................................$410,976Noncurrentliabilities..............................................................................................................................................................................240,518Year2Currentassets.........................................................................................................................................................................................$90,442Totalassets.............................................................................................................................................................................................288,456Noncurrentliabilities..............................................................................................................................................................................78,585Year3Totalassets.............................................................................................................................................................................................$247,135Currentliabilities....................................................................................................................................................................................15,583Totalliabilitiesandowners’equity........................................................................................................................................................247,135Year4Currentassets.........................................................................................................................................................................................$69,090Currentliabilities....................................................