會(huì)計(jì)學(xué)原理financialaccountingbyrobertlibby第八版第三章答案(參考版)
2025-06-29 00:25本頁(yè)面
【正文】 there has been no exchange. E3–10. (continued)Req. 3 Net ine using the accrual basis of accounting:Revenues$19,850($19,000 + $850) – Expenses 16,900($16,500 + $400)Net Ine (accrual basis) $ 2,950Assets=Liabilities+Stockholders’ Equity$12,090$ 7,700 $ 1,70024,800 4,440 7,8202,460 48,500 9,36010,420 2,950 net ine7,40025,300$82,470$60,640$21,830Req. 4Net ine using the cash basis of accounting:Cash receipts$27,650(transactions a through d)– Cash disbursements 19,760(transactions g, i, and k)Net Ine (cash basis) $ 7,890Cash basis net ine ($7,890) is higher than accrual basis net ine ($2,950) because of the differences in the timing of recording revenues versus receipts and expenses versus disbursements between the two methods. The $7,800 higher amount in cash receipts over revenues includes cash received prior to being earned (from (b), $600) and cash received after being earned (in (d), $7,200). The $2,860 higher amount in cash disbursements over expenses includes cash paid after being incurred in the prior period (in (g), $2,300), plus cash paid for supplies to be used and expensed in the future (in (k), $960), less an expense incurred in January to be paid in February (in (e), $400). E3–11.STACEY’S PIANO REBUILDING COMPANYIne Statement (unadjusted)For the Month Ended January 31, 2014Operating Revenues: Rebuilding fees revenue$ 19,000 Total operating revenues19,000Operating Expenses: Wages expense16,500 Utilities expense400 Total operating expenses16,900Operating Ine2,100Other Item: Rent revenue850Net Ine$ 2,950 E3–12.TransactionO, I, or F Activity (or No Effect) on Statement of Cash FlowsDirection and Amount of Effecta.O+19,000b.O+600c.O+850d.O+7,200e.NENEf.NENEg.O2,300h.NENEi.O16,500j.F2,200k.O960 E3–13.Req. 1 and 2CashAccounts ReceivableSuppliesBeg. 0(a)160,000(c) 50,000(e) 2,600(f) 11,90072,000 (b)10,830 (d) 363 (h)6,280 (i) 600 (j)70,000 (k)Beg. 0(a) 2,000(e) 1,600Beg. 0 (a) 1,20064,4273,6001,200EquipmentBuildingAccounts PayableBeg. 0(a) 18,300(k) 50,000Beg. 0(b)360,000(k) 20,000 0 Beg.420 (g)68,300380,000420Note PayableMortgage Payable 0 Beg.50,000 (c) 0 Beg.288,000(b)50,000288,000Common StockAdditional Paidin CapitalRetainedEarnings 0 Beg.1,000 (a) 0 Beg.180,500 (a)(j) 6000 Beg.1,000180,500600Food Sales RevenueCatering Sales Revenue 0 Beg.11,900 (f) 0 Beg.4,200 (e)11,9004,200Supplies ExpenseUtilities ExpenseWages ExpenseBeg. 0(d) 10,830Beg. 0(g) 420Beg. 0(i) 6,28010,8304206,280Fuel ExpenseBeg. 0(h) 363363 E3–14.Req. 1TRAVELING GOURMET, INC.Ine Statement (unadjusted)For the Month Ended March 31, 2014Revenues: Food sales revenue Catering sales revenue Total revenuesExpenses: Supplies expense Utilities expense Wages expense Fuel expense Total costs and expenses$ 11,900 4,200 16,100 10,8304206,280 363 17,893Net Loss$ (1,793)Req. 2TransactionO, I, or F Activity (or No Effect) on Statement of Cash FlowsDirection and Amount of Effecta.F+160,000b.I72,000c.F+50,000d.O10,830e.O+2,600f.O+11,900g.NENEh.O363i.O6,280j.F600k.I70,000 Req. 3The pany generated a small loss of 1,793 during its first month of operations, before making any adjusting entries. The adjusting entries for use of the building and equipment and interest expense on the borrowing will increase the loss. Cash flows from operating activities were also negative at $2,973 (= + 11,900 + 2,600 – 10,830 – 363 – 6,280) . So far the pany does not appear to be successful, but it is only in its first month of operating a retail store. If sales can be increased without inflating fixed costs (particularly salaries expense), the pany may soon turn a profit. It is not unusual for small businesses to report a loss or have negative cash flows from operations as they start up operations. E3–15.Req. 1TransactionBrief ExplanationaIssued 10,000 shares of mon stock to shareholders for $82,000 cash. bPurchased store fixtures for $15,400 cash.cPurchased $24,800 of inventory, paying $6,200 cash and the balance on account.dSold $14,000 of goods or services to customers, receiving $9,820 cash and the balance on account. The cost of the goods sold was $7,000.eUsed $1,480 of utilities during the month, not yet paid.fPaid $1,300 in wages to employees.gPaid $2,480 in cash for rent, $620 related to the current month and $1,860 related to future months.hReceived $3,960 cash from customers, $1,450 related to current sales and $2,510 related to goods or services to be provided in the future.Req. 2Kate’s Kite CompanyIne StatementFor the Month Ended April 30, 2014Sales RevenueExpenses: Cost of sales Wages expense Rent expense Utilities expense Total expenses$ 15,450 7,0001,300620 1,480 10,400Net Ine$ 5,050 E3–15. (continued)Kate’s Kite CompanyBalance SheetAt April 30, 2014AssetsLiabilities and Shareholders’ EquityCu
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