财务会计学第八版课后答案

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财务会计学_戴德明_第八版_课后答案

第2章货币资金和应收款项2.（1）借：其他货币资金-外埠存款400000 贷：银行存款400000 （2）借：其他货币资金-银行汇票存款15000 贷：银行存款15000 （3）借：原材料300000 应交税费51000贷：其他货币资金-外埠存款351000 （4）借：原材料10000 应交税费1700 贷：其他货币资金-银行汇票存款11700 （5）借：银行存款49000贷：其他货币资金-外埠存款49000（6）借：银行存款3300贷：其他货币资金-银行汇票存款33003.总价法5月3日借：应收账款66690贷：主营业务收入57000 应交税费9690 5月18日借：银行存款66023.1 财务费用666.9 贷：应收账款666905月19日120×100×0.95=11400 11400×0.17=1938 （11400+1938）×1%=133.38 借：主营业务收入11400应交税费1938贷：银行存款13204.62 财务费用133.38净价法57000×（1+17%）=66690 66690×2%=1333.8 5月3日借：应收账款65356.2贷：主营业务收入55666.2应交税费9690 5月18日借：银行存款66023.1贷：应收账款65356.2 财务费用666.9 5月19日借：主营业务收入11133.24应交税费1938 财务费用133.38贷：银行存款13204.624.2009年借：资产减值损失10000 贷：坏账准备10000 2010年借：坏账准备4000 贷：应收账款4000 借：资产减值损失8000 贷：坏账准备8000 2011 借：坏账准备20000 贷：应收账款20000 借：应收账款3000 贷：坏账准备3000 借：资产减值损失12000 贷：坏账准备12000第三章1.（1）借：在途物资-甲10300 应交税费1700 贷：银行存款12000 （2）借：原材料-甲10300 贷：在途物资-甲10300 （3）乙货款30000 丙货款20000 运费分配率=1000/(300+200)=2保险费分配率=1500/(30000+20000)=0.03乙的成本=30000+600×（1-7%）+900=31458丙的成本=20000+400×（1-7%）+600=20972 借：在途物资-乙31458 -丙20972 应交税费8570 贷：银行存款61000 （4）借：原材料-乙31458 -丙20972 贷：在途物资-乙31458-丙20972 （5）借：在途物资-甲20000 应交税费3400 贷：银行存款23400 （6）借：原材料-乙9000 贷：在途物资9000 （7）借：原材料-丁30000 贷：应付账款30000 2.（1）借：在途物资30930 应交税费5170 贷：银行存款36100 （2）借：库存商品57000 贷：在途物资30930 商品进销差价26070 （3）借：银行存款60000 贷：主营业务收入60000 借：主营业务收入60000 贷：库存商品60000 （4）60000/(1+17%)=51282 51282×17%=8717.95借：主营业务收入8717.95 贷：应交税费8717.95（5）商品进销差价率=（9700+26070）/(43000+570000×100%=35.77% 已销商品进销差价=60000×35.77%=21462 借：商品进销差价21462 贷：主营业务成本21462 3.（1）甲材料可变现净值=510-9-200=301 账面价值=300 未发生减值。

戴德明财务会计学第8版知识点总结笔记课后答案

第1 章总论1.1考点难点归纳一、企业财务会计的性质现代企业会计可以划分为财务会计与管理会计两大分支。

目标可以分为两个方面：主要目标是服务于企业内部管理，次要目标是对外提供财务报告。

企业财务会计发挥作用的主要形式是为企业管理和企业外部使用者提供有用的会计信息。

1.对企业会计信息的需求（1）企业内部管理对会计信息的需要企业会计要采用一定的程序和方法，将企业大量的经济数据转化为有用的会计信息，以便为企业管理决策提供依据。

（2）企业外部对会计信息的需要在市场经济条件下，企业外部需要利用会计信息进行决策的，至少有五个方面的关系人，如表1-1 所示。

表1-1 企业外部信息使用者2.企业财务会计的特点与管理会计相比，企业财务会计的主要特点是：（1）从直接的服务对象来看，财务会计除了直接服务于企业内部管理之外，还要以财务报告的形式为企业外部有关方面提供会计信息。

（2）从提供信息的时态来看，财务会计主要是提供有关企业过去和现在的经济活动情况及其结果的会计信息。

（3）从提供信息的跨度来看，财务会计主要是定期反映企业作为一个整体的财务状况、经营成果以及现金流量情况。

（4）从工作程序的约束依据来看，财务会计要受外在统一的会计规范（如会计准则或统一会计制度）的约束。

（5）从会计程序与方法来看，财务会计有一套比较科学、统一、定型的会计处理程序与方法，如填制凭证、登记账簿、编制报表等。

3.经济环境对财务会计的影响一定时期的财务报告目标和会计实践是与特定的经济环境相适应的。

经济环境对于决定财务报告目标的三个因素均有重要影响：（1）经济环境影响会计信息的需求（2）经济环境影响会计程序与方法（3）经济环境影响企业提供会计信息的意愿反之，企业财务会计在实现其目标的过程中，会通过它所提供的会计信息反过来影响经济环境。

二、企业会计准则为了保证对外提供会计信息的质量，需要建立一套财务会计规范体系，也就是会计标准，明确规定会计信息的质量要求。

资料-戴德明财务会计学第8版课后答案

1.答案思考题1.财务会计的目标是什么？明确财务会计的目标有何意义？答：（1）财务会计的目标是财务会计基本理论的重要组成部分，是财务会计理论体系的基础，即期望会计达到的目的或境界，整个财务会计理论体系和会计实务是建立在财务会计目标的基础之上。

财务会计的目标包括以下三方面：①提供符合国家宏观经济管理要求的会计信息；②满足企业内部经营管理的需要；③满足有关各方了解企业财务状况及经营成果的需要。

（2）明确财务会计目标对会计的实践工作以及会计准则的制定既有重大的指导意义，又有较大的实践价值。

2.财务会计的基本前提有哪些？权责发生制为什么也是财务会计的一项基本前提？答：财务会计的基本前提是指组织与开展财务会计工作必须具备的前提条件，必须首先明确和解决的基本问题。

（1）财务会计的基本前提有会计主体、持续经营、会计期间、货币计量和权责发生制。

具体说明如下：①会计主体。

会计主体是指会计为之服务的特定单位。

要开展会计工作，首先应明确认定会计主体，也就是要明确会计人员的立足点（立场），解决为谁记账、算账、报账的问题。

②持续经营。

持续经营是指作为会计主体的企业，其生产经营活动将按照既定的目标持续下去，在可以预见的将来不会面临破产与清算。

③会计期间。

会计期间就是将一个企业的全部经营期间人为地划分为相等时间段落。

会计分期的目的在于通过会计期间的划分，据以结算账目，编制财务会计报告，从而及时地向有关方面提供有用的会计信息。

④货币计量。

财务会计以货币为主要计量尺度。

要记账，必须确定记账本位币；要编表，必须确定报告本位币。

不但要确定依据何种货币记账，按何种货币编制报表，还需要判断该种货币本身的价值是否基本稳定。

⑤权责发生制。

权责发生制也称为应计制，它要求对会计主体在一定期间内发生的各项业务，以是否取得经济权利、是否承担经济责任为标准，决定资产、负债、收入（广义）和费用（广义）的确认。

现代企业会计是以权责发生制为基础。

（2）权责发生制是财务会计的一项基本前提，在于开展企业财务会计工作，特别是进行会计确认必须正确运用确认基础。

会计学原理Financial-Accounting-by-Robert-Libby第八版-第三章-答案

会计学原理Financial-Accounting-by-Rob ert-Libby第八版-第三章-答案Chapter 3Operating Decisions andthe Accounting SystemANSWERS TO QUESTIONS1. A typical business operating cycle for a manufacturer would be as follows:inventory is purchased, cash is paid to suppliers, the product is manufactured and sold on credit, and the cash is collected from the customer.2. The time period assumption means that the financial condition andperformance of a business can be reported periodically, usually every month, quarter, or year, even though the life of the business is much longer.3. Net Income = Revenues + Gains - Expenses - Losses.Each element is defined as follows:Revenues -- increases in assets or settlements of liabilities from ongoing operations.Gains -- increases in assets or settlements of liabilities from peripheral transactions.Expenses -- decreases in assets or increases in liabilities from ongoingoperations.Losses -- decreases in assets or increases in liabilities from peripheraltransactions.4. Both revenues and gains are inflows of net assets. However, revenuesoccur in the normal course of operations, whereas gains occur from transactions peripheral to the central activities of the company. An example is selling land at a price above cost (at a gain) for companies not in the business of selling land.Both expenses and losses are outflows of net assets. However, expenses occur in the normal course of operations, whereas losses occur from transactions peripheral to the central activities of the company. An example is a loss suffered from fire damage.5. Accrual accounting requires recording revenues when earned andrecording expenses when incurred, regardless of the timing of cash receipts or payments. Cash basis accounting is recording revenues when cash is received and expenses when cash is paid.Financial Accounting, 8/e 3-2 © 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.Financial Accounting, 8/e3-3© 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.6. The four criteria that must be met for revenue to be recognized under theaccrual basis of accounting are (1) delivery has occurred or services have been rendered, (2) there is persuasive evidence of an arrangement for customer payment, (3) the price is fixed or determinable, and (4) collection is reasonably assured.7. The expense matching principle requires that expenses be recorded whenincurred in earning revenue. For example, the cost of inventory sold during a period is recorded in the same period as the sale, not when the goods are produced and held for sale.8. Net income equals revenues minus expenses. Thus revenues increase netincome and expenses decrease net income. Because net income increases stockholders’ equity, revenues increase stockholders’ equity and expenses decrease it.9. Reve nues increase stockholders’ equity and expenses decreasestockholders’ equity. To increase stockholders’ equity, an account must be credited; to decrease stockholders’ equity, an account must be debited. Thus revenues are recorded as credits and expenses as debits. 10.11.12.13. Total net profit margin ratio is calculated as Net Income Net Sales (orOperating Revenues). The net profit margin ratio measures how much of every sales dollar is profit. An increasing ratio suggests that the company is managing its sales and expenses effectively.ANSWERS TO MULTIPLE CHOICE1. c2. a3. b4. b5. c6. c7. d8. b9. a10. bFinancial Accounting, 8/e 3-4 © 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.Authors' Recommended Solution Time(Time in minutes)* Due to the nature of this project, it is very difficult to estimate the amount of time students will need to complete the assignment. As with any open-ended project, it is possible for students to devote a large amount of time to these assignments. While students often benefit from the extra effort, we find that some become frustrated by the perceived difficulty of the task. You can reduce student frustration and anxiety by making your expectations clear. For example, when our goal is to sharpen research skills, we devote class time discussing research strategies. When we want the students to focus on a real accounting issue, we offer suggestions about possible companies or industries.Financial Accounting, 8/e 3-5 © 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.Financial Accounting, 8/e 3-6© 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.MINI-EXERCISESM3–1.TERMG (1) LossesC (2) Expense matching principle F (3) RevenuesE (4) Time period assumption B(5) Operating cycleM3–2.Cash Basis Income StatementAccrual Basis Income StatementRevenues: Cash sales Customer deposits$8,000 5,000 Revenues: Sales to customers$18,000 Expenses:Inventory purchases Wages paid 1,000 900 Expenses: Cost of sales Wages expense Utilities expense 9,000 900 300Net Income$11,100Net Income $7,800Revenue Account Affected Amount of Revenue Earned in JulyM3–4.Expense Account Affected Amount of Expense Incurred in JulyFinancial Accounting, 8/e 3-7 © 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.a. Cash (+A) ............................................................................ 15,000Games Revenue (+R, +SE) .......................................... 15,000 b. Cash (+A) ............................................................................ 3,000Accounts Receivable (+A) ................................................ 5,000 Sales Revenue (+R, +SE) ............................................. 8,000 c. Cash (+A) ............................................................................ 4,000Accounts Receivable (-A) ........................................... 4,000 d. Cash (+A) ............................................................................ 2,500Unearned Revenue (+L) ............................................... 2,500 M3–6.e. Cost of Goods Sold (+E, -SE)........................................... 6,800Inventory (-A) ............................................................... 6,800 f. Accounts Payable (–L) (800)Cash (-A) (800)g. Wages Expense (+E, -SE) ................................................. 3,500Cash (-A) ...................................................................... 3,500 h. Insurance Expense (+E, -SE) . (500)Prepaid Expenses (+A) ...................................................... 1,00 Cash (-A) ...................................................................... 1,500 i. Repairs Expense (+E, -SE) .. (700)Cash (-A) (700)j. Utilities Expense (+E, -SE) (900)Accounts Payable (+L) (900)Financial Accounting, 8/e 3-8 © 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.Transaction (c) results in an increase in an asset (cash) and a decrease in an asset (accounts receivable). Therefore, there is no net effect on assets.M3–8.Transaction (h) results in an increase in an asset (prepaid expenses) and a decrease in an asset (cash). Therefore, the net effect on assets is 500.Financial Accounting, 8/e 3-9 © 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.Craig’s Bowling, Inc.Income StatementFor the Month of July 2014Revenues:Games revenue $15,000Sales revenue 8,000Total revenues 23,000Expenses:Cost of goods sold 6,800Utilities expense 900Wages expense 3,500Insurance expense 500Repairs expense 700Total expenses 12,400Net income $ 10,600M3–10.Financial Accounting, 8/e 3-10 © 2014 by McGraw-Hill Global Education Holdings, LLC. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.M3–11.These results suggest that Jen’s Jewelry Company earned approximately $0.31 for every dollar of revenue in 2015, and over time, the ratio has improved. Jen’s has become more effective at managing sales and expenses.As additional analysis:Between 2013 to 2014 and 2014 to 2015, sales have increased at a lower percentage than net income. This suggests that the company has been more effective at controlling expenses than generating revenues.EXERCISESE3–1.TERMK (1) ExpensesE (2) GainsG (3) Revenue realization principleI (4) Cash basis accountingM (5) Unearned revenueC (6) Operating cycleD (7) Accrual basis accountingF (8) Prepaid expensesJ (9) Revenues - Expenses = Net IncomeL (10) Ending Retained Earnings =Beginning Retained Earnings + Net Income - Dividends DeclaredE3–2.Req. 1Cash Basis Income StatementAccrual Basis Income StatementRevenues:Cash sales Customer deposits $500,00070,000Revenues:Sales tocustomers$750,000Expenses:Inventory purchases Wages paidUtilities paid90,000180,30017,200Expenses:Cost of salesWages expenseUtilities expense485,000184,00019,130Net Income $282,500 Net Income $61,870Req. 2Accrual basis financial statements provide more useful information to external users. Financial statements created under cash basis accounting normally postpone (e.g., $250,000 credit sales) or accelerate (e.g., $70,000 customer deposits) recognition of revenues and expenses long before or after goods andservices are produced and delivered (until cash is received or paid). They also do not necessarily reflect all assets or liabilities of a company on a particular date.Activity Revenue AccountAmount of RevenueActivity Expense AccountAmount of ExpenseE3–5.Transaction (k) results in an increase in an asset (cash) and a decrease in an asset (accounts receivable). Therefore, there is no net effect on assets.* A loss affects net income negatively, as do expenses.E3–6.Transaction (f) results in an increase in an asset (property, plant, and equipment) and a decrease in an asset (cash). Therefore, there is no net effect on assets.E3–7.(in thousands)a. Plant and equipment (+A) (636)Cash ( A) (636)Debits equal credits. Assets increase and decrease by the same amount.b. Cash (+A) (181)Short-term notes payable (+L) (181)Debits equal credits. Assets and liabilities increase by the same amount.c. Cash (+A) ..........................................................................Accounts receivable (+A) ................................................ 10,765 28,558Service revenue (+R, +SE) ........................................ 39,323 Debits equal credits. Revenue increases retained earnings (part of stockholders' equity). Stockholders' equity and assets increase by the same amount.E3–7. (continued)d. Accounts payable (-L) ..................................................... 32,074Cash (-A) ................................................................... 32,074 Debits equal credits. Assets and liabilities decrease by the same amount.e. Inventory (+A) ................................................................... 32,305Accounts payable (+L) .............................................. 32,305 Debits equal credits. Assets and liabilities increase by the same amount.f. Wages expense (+E, -SE) ............................................... 3,500Cash (-A) ................................................................... 3,500 Debits equal credits. Expenses decrease retained earnings (part ofstockholders' equity). Stockholders' equity and assets decrease by thesame amount.g. Cash (+A) .......................................................................... 39,043Accounts receivable (-A) ....................................... 39,043 Debits equal credits. Assets increase and decrease by the same amount.h. Fuel expense (+E, -SE) (750)Cash (-A) (750)Debits equal credits. Expenses decrease retained earnings (part ofstockholders' equity). Stockholders' equity and assets decrease by thesame amount.i. Retained earnings (-SE) (597)Cash (-A) (597)Debits equal credits. Assets and stock holders’ equity decrease by thesame amount.j. Utilities expense (+E, -SE) (68)Cash (-A) ................................................................... Accounts payable (+L) .............................................. 55 13Debits equal credits. Expenses decrease retained earnings (part of stockholders' equity). Together, stockholders' equity and liabilities decrease by the same amount as assets.E3–8.Req. 1a.Cash (+A) ................................................................... 2,300,000Short-term note payable (+L) ........................ 2,300,000 Debits equal credits. Assets and liabilities increase by the same amount.b.Equipment (+A) ......................................................... 98,000Cash (-A) ........................................................ 98,000 Debits equal credits. Assets increase and decrease by the same amount.c.Merchandise inventory (+A) .................................... 35,000Accounts payable (+L) .................................. 35,000 Debits equal credits. Assets and liabilities increase by the same amount.d.Repairs (or maintenance) expense (+E, -SE) ......... 62,000Cash (-A) ........................................................ 62,000 Debits equal credits. Expenses decrease retained earnings (part ofstockholders' equity). Stockholders' equity and assets decrease by thesame amount.e.Cash (+A) ................................................................... 390,000Unearned pass revenue (+L) ......................... 390,000 Debits equal credits. Since the season passes are sold before Vail Resorts provides service, revenue is deferred until it is earned. Assets andliabilities increase by the same amount.f.Two transactions occur:(1) Accounts receivable (+A) (800)Ski shop sales revenue (+R, +SE) (800)Debits equal credits. Revenue increases retained earnings (a part ofstockholders' equity). Stockholders' equity and assets increase by thesame amount.(2) Cost of goods sold (+E, -SE) (500)Merchandise inventory (-A) (500)Debits equal credits. Expenses decrease retained earnings (a part ofstockholders' equity). Stockholders' equity and assets decrease by thesame amount.E3–8. (continued)g.Cash (+A) ................................................................... 320,000Lift revenue (+R, +SE) .................................... 320,000 Debits equal credits. Revenue increases retained earnings (a part ofstockholders' equity). Stockholders' equity and assets increase by thesame amount.h.Cash (+A) ................................................................... 3,500Unearned rent revenue (+L) .......................... 3,500 Debits equal credits. Since the rent is received before the townhouse isused, revenue is deferred until it is earned. Assets and liabilities increase by the same amount.i. Accounts payable (-L) ............................................. 17,500Cash (-A) ........................................................ 17,500 Debits equal credits. Assets and liabilities decrease by the same amount. j.Cash (+A) . (400)Accounts receivable (-A) (400)Debits equal credits. Assets increase and decrease by the same amount. k.Wages expense (+E, -SE) ........................................ 245,000Cash (-A) ........................................................ 245,000 Debits equal credits. Expenses decrease retained earnings (a part ofstockholders' equity). Stockholders' equity and assets decrease by thesame amount.Req. 22/1 Rent expense (+E, -SE) (275)Cash (-A) (275)2/2 Fuel expense (+E, -SE) (490)Accounts payable (+L) (490)2/4 Cash (+A) (820)Unearned revenue (+L) (820)2/7 Cash (+A) (910)Transport revenue (+R, +SE) (910)2/10 Advertising expense (+E, -SE) (175)Cash (-A) (175)2/14 Wages payable (-L) ......................................................... 2,300Cash (-A) ......................................................... 2,3002/18 Cash (+A) ..........................................................................Accounts receivable (+A) ................................................ 1,600 2,200Transport revenue (+R, +SE) ......................... 3,800 2/25 Parts supplies (+A) .......................................................... 2,550Accounts payable (+L) ................................... 2,550 2/27 Retained earnings (-SE) .. (200)Dividends payable (+L) (200)Req. 1 and 2Accounts Unearned Fee NoteAdditional Paid-inRebuilding Fees RentItem (f) is not a transaction; there has been no exchange.E3–10. (continued)Req. 3Net income using the accrual basis of accounting:Revenues $19,850 ($19,000 + $850)– Expenses 16,900 ($16,500 + $400)Net Income $ 2,950Assets = Liabilities + Stockholders’ Equity$12,090 $ 7,700 $ 1,70024,800 4,440 7,8202,460 48,500 9,36010,420 2,950 netincome7,40025,300$82,470 $60,640 $21,830Req. 4Net income using the cash basis of accounting:Cash receipts $27,650 (transactions a through d)–Cash disbursements 19,760 (transactions g, i, and k)Net Income $ 7,890Cash basis net income ($7,890) is higher than accrual basis net income ($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).STACEY’S PIANO REBUILDING COMPANYIncome Statement (unadjusted)For the Month Ended January 31, 2014 Operating Revenues:Rebuilding fees revenue $ 19,000 Total operating revenues 19,000 Operating Expenses:Wages expense 16,500 Utilities expense 400 Total operating expenses 16,900 Operating Income 2,100 Other Item:Rent revenue 850 Net Income $ 2,950Req. 1 and 2Common Additional RetainedFood Sales Revenue Catering Sales RevenueE3–14.Req. 1TRAVELING GOURMET, INC.Income Statement (unadjusted)For the Month Ended March 31, 2014 Revenues:Food sales revenueCatering sales revenueTotal revenues Expenses:Supplies expenseUtilities expenseWages expenseFuel expenseTotal costs and expenses $ 11,9004,20016,10010,8304206,28036317,893Net Loss $ (1,793) Req. 2Transaction O, I, or F Activity (or No Effect) on Statement ofDirection and AmountReq. 3The company 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 company 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 company 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. 1Transaction Brief Explanationa Issued 10,000 shares of common stock to shareholders for $82,000cash.b Purchased store fixtures for $15,400 cash.c Purchased $24,800 of inventory, paying $6,200 cash and thebalance on account.d Sold $14,000 of goods or services to customers, receiving $9,820cash and the balance on account. The cost of the goods sold was$7,000.e Used $1,480 of utilities during the month, not yet paid.f Paid $1,300 in wages to employees.g Paid $2,480 in cash for rent, $620 related to the current month and$1,860 related to future months.h Received $3,960 cash from customers, $1,450 related to currentsales and $2,510 related to goods or services to be provided in thefuture.Req. 2Kate’s Kite CompanyIncome StatementFor the Month Ended April 30, 2014Sales Revenue Expenses:Cost of salesWages expenseRent expenseUtilities expenseTotal expenses $ 15,4507,0001,3006201,48010,400Net Income $ 5,050Kate’s Kite CompanyBalance SheetAt April 30, 2014Assets Liabilities and Shareholders’ Equity Current Assets: Current Liabilities:Cash $70,400 Accounts payable $20,080 Accounts receivable 4,180 Unearned revenue 2,510 Inventory 17,800 Total current liabilities 22,590 Prepaid expenses 1,860 Shareholders’ Equity:Total current assets 94,240 Common stock 10,000 Store fixtures 15,400 Additional paid-in capital 72,000Retained earnings 5,050Total shareholders’equity87,050Total Assets $109,640 Total Liabilities &Shareholders’ Equity$109,640E3–16.Req. 1Assets = Liabilities + Stockholders’ Equity $ 3,200 $ 2,400 $ 800 8,000 5,600 4,0006,400 1,600 3,200 $17,600 $9,600 $ 8,000Req. 2Accounts Long-TermAccounts Unearned Long-TermAdditionalConsulting Fee InvestmentRent ExpenseE3–16. (continued)Req. 3Revenues $58,400 ($58,000 from sales + $400 on investments)– Expenses 56,400 ($36,000 + $12,000 + $800 + $7,600)Net Income $ 2,000Assets = Liabilities + Stockholders’ Equity$ 1,120 $ 1,600 $ 80012,400 7,200 4,0006,400 1,600 2,7202,000 net income $19,920 $10,400 $ 9,520 Req. 4Net Profit Margin = Net Income = $2,000 = 0.0345Ratio Sales (Operating) Revenues $58,000* or 3.45% * The $400 of investment income is not an operating revenue and is not included in the computation.The increasing trend in the net profit margin ratio (from 2.5% in 2013 to 2.9% in 2014 and then to 3.45% in 2015) suggests that the company is managing its sales and expenses more effectively over time.E3–17.Req. 1Accounts receivable increases with customer sales on account and decreases with cash payments received from customers.Prepaid expenses increase with cash payments of expenses related to future periods and decrease as these expenses are incurred over time.Unearned subscriptions increase with cash payments received from customers for goods or services to be provided in the future and decreases when those goods or services are provided.Req. 2Trade Accounts ReceivablePrepaidExpensesUnearnedSubscriptionsComputations:Beginning + “+”-“-”= EndingTrade accounts receivable 717 + 5,240 -??==6935,264Prepaid expenses 95 + 203 -??==107191Unearned subscriptions 224 + 2,690 -??==2312,683E3–18.ITEM LOCATION1. Description of a company’sprimary business(es). Letter to shareholders;Management’s Discussion and Analysis; Summary of significant accounting policies note2. Income taxes paid. Notes; Statement of cash flows3. Accounts receivable. Balance sheet4. Cash flow from operatingactivities.Statement of cash flows5. Description of a company’srevenue recognition policy. Summary of significant accounting policies note6. The inventory sold during theyear.Income statement (Cost of Goods Sold)7. The data needed to compute thenet profit margin ratio.Income statementPROBLEMSP3-1.Transactions Debit Credita. Example: Purchased equipment for use in the business;5 1, 8paid one-third cash and signed a note payable for thebalance.b. Paid cash for salaries and wages earned by employees thisperiod.15 1 c. Paid cash on accounts payable for expensesincurred last period.7 1d. Purchased supplies to be used later; paid cash. 3 1e. Performed services this period on credit. 2 14f. Collected cash on accounts receivable for servicesperformed last period. 1 2g. Issued stock to new investors. 1 11, 12h. Paid operating expenses incurred this period.15 1i. Incurred operating expenses this period to be paidnext period.15 7 j. Purchased a patent (an intangible asset); paid cash. 6 1 k. Collected cash for services performed this period. 1 14 l. Used some of the supplies on hand for operations.15 3 m. Paid three-fourths of the income tax expense for the year;the balance will be paid next year.16 1, 10 n. Made a payment on the equipment note in (a); the paymentwas part principal and part interest expense.8, 17 1 o. On the last day of the current period, paid cash for aninsurance policy covering the next two years. 4 1a. Cash (+A) ........................................................................... 40,000Common stock (+SE) (20)Additional paid-in capital (+SE) ................................ 39,980 b. Cash (+A) ........................................................................... 60,000Note payable (long-term) (+L) ..................................... 60,000 c. Rent expense (+E, -SE) .................................................... 1,500Prepaid rent (+A) ............................................................... 1,500 Cash (-A) ...................................................................... 3,000 d. Prepaid insurance (+A) ..................................................... 2,400Cash (-A) ..................................................................... 2,400 e. Furniture and fixtures (or Equipment) (+A) ..................... 15,000Accounts payable (+L) ............................................... 12,000Cash (-A) ..................................................................... 3,000 f. Inventory (+A) .................................................................... 2,800Cash (-A) ..................................................................... 2,800 g. Advertising expense (+E, -SE) .. (350)Cash (-A) (350)h. Cash (+A) (850)Accounts receivable (+A) (850)Sales revenue (+R, +SE) ............................................ 1,700 Cost of goods sold (+E, -SE) . (900)Inventory (-A) (900)i. Accounts payable (-L) ...................................................... 12,000Cash (-A) ..................................................................... 12,000 j. Cash (+A) (210)Accounts receivable (-A) (210)。

财务管理学(第8版)习题答案

财务管理学(第8版)习题答案财务管理学(第8版)习题答案第一章：基础概念1. (a) 财务管理学是研究如何在资源有限的情况下，对企业的资金进行规划、筹集和运用的学科。

(b) 财务管理学的目标是最大化股东财富。

(d) 资本预算决策是指对长期投资项目进行评估和选择的过程。

2. (a) 法人：指具有法人地位的企业和组织，可以独立承担各种权利和义务。

(b) 市场：指供给和需求的相互作用下形成的商品和服务的交换场所。

(d) 资本市场：指进行证券交易的场所，包括股票市场和债券市场。

第二章：财务报表分析1. (a) 资产负债表是反映企业在某一特定日期上的财务状况的报表。

(b) 利润表是反映企业在一定时期内盈利情况的报表。

(d) 所有者权益变动表是反映企业在一定时期内所有者权益变动情况的报表。

2. (a) 流动比率 = 流动资产 / 流动负债，衡量企业短期偿债能力。

(b) 速动比率 = (流动资产 - 存货) / 流动负债，衡量企业除存货外的短期偿债能力。

(d) 资产收益率 = 净利润 / 总资产，衡量企业利用资产创造利润的能力。

第三章：财务规划与预测1. (a) 财务规划是根据预定的目标，制定财务活动方案和计划的过程。

(b) 财务预测是对未来一定时期内的财务状况和结果进行预测和估计。

(d) 周期预算是指按一定时间周期制定的预算，如年度预算。

2. (a) 现金收入预测是根据企业的销售计划和市场环境等因素，预测未来一定时期内的现金收入情况。

(b) 资金需求预测是根据企业的财务计划和经营活动，预测未来一定时期内的资金需求量。

财务会计学第八版课后答案

课后习题Chapter1随堂练习：1—24 1—25课后练习：1—32Chapter2随堂练习：2—35 2—38课后练习：2—36Chapte3随堂练习：3—18 3—21 3—27 3—30 3—31 3—37 3—39课后练习：3—36Chapte4随堂练习：4—28 4—29 4—30 4—35课后练习：4—42Chapter5随堂练习：5—37 5—38 5—39 5—41课后练习：5—58Chapter6随堂练习：6—316—536—62课后练习：6—346—406—54 256页problem 1 & 2 （此答案书后有）6—846—86Chapter7随堂练习：7—42 7—43 7—58课后练习：7—28Chapter8随堂练习：8—33 8—32课后练习：8—44Chapter9随堂练习：9—26 9—28 9—29 9—45 9—57课后练习：9—49 9—58Chapter10 ：无Chapter11随堂练习：11—52课后练习：11—43 11—46 11—47Chapter12随堂练习：12—2712—28课后练习：12—3112—4012—41备注：标注有红色的题号都是可以找到答案的题，其余的习题没答案，没答案的题可以借阅平时上课做了笔记的同学。

希望大家期末都努力复习争取取得好的成绩！加油！O(∩_∩)O习题答案Chapter11-24ALBANY CORPORATIONBalance SheetMarch 31, 20X1Liabilities andAssets Stockholders' EquityCash $ 6,000 (a) Liabilities:Accounts receivable 14,000 Accounts payable $ 11,000 (f) Notes receivable 2,000 Notes payable 10,000 Merchandise inventory 43,000 (b) Long-term debt 32,000 (g) Furniture and fixtures 2,000 (c) Total liabilities 53,000 Machinery and equipment 27,000 (d) Stockholders' equity:Land 31,000 (e) Paid-in capital 92,000 (h) Building 20,000Total $145,000 Total $145,000(a) Cash: 10,000 + 1,000 – 5,000 = 6,000(b) Merchandise inventory: 40,000 + 3,000 = 43,000(c) Furniture and fixtures: 3,000 – 1,000 = 2,000(d) Machinery and equipment: 15,000 + 12,000 = 27,000(e) Land: 6,000 + 25,000 = 31,000(f) Accounts payable: 8,000 + 3,000 = 11,000(g) Long-term debt: 12,000 + 20,000 = 32,000(h) Paid-in capital: 80,000 + 12,000 = 92,000Note: Event 5 requires no change in the balance sheet.1-25BROADWAY CORPORATIONBalance SheetNovember 30, 20X1Liabilities andLiabilities andAssets Stockholders’ EquityCash $ 13,000 (a) Liabilities:Accounts receivable 16,000 (b) Accounts payable $ 10,000 (e) Notes receivable 8,000 Notes payable 31,000 (f) Merchandise inventory 29,000 Long-term debt 119,000 (g) Furniture and fixtures 8,000 Total liabilities 160,000 Machinery and equip. 34,000 (c) Stockholders’ equity:Land 35,000 (d) Paid-in Capital 213,000 (h)Building 230,000Total $373,000 Total $373,000(a) Cash: 22,000 – 6,000 – 3,000 = 13,000(b) Accounts receivable: 10,000 + 6,000 = 16,000(c) Machinery and equipment: 20,000 + 14,000 = 34,000(d) Land: 41,000 – 6,000 = 35,000(e) Accounts payable: 16,000 – 6,000 = 10,000(f) Notes payable: 20,000 + (14,000 – 3,000) = 31,000(g) Long-term debt: 142,000 – 23,000 = 119,000(h) Paid-in capital: 190,000 + 23,000 = 213,000Note: Event 4 requires no change in the balance sheet.Chapter2(无答案)Chapter33-36(30-45 min.) A nswers are in thousands of dollars.1. a. Inventory 550Accounts payable 550 Acquisition of inventoriesb. Accounts receivable 800Sales 800 Sales on accountc. Cost of goods sold 440Inventory 440 Cost of inventory soldd. Cash 80Note payable 80 Borrowed from a supplier onJune 1, 20X8. Four-year note,interest at 15%, and principalpayable at end of four yearse. Prepaid rent 25Cash 25 Paid rent in advancef. Wages expense 165Cash 165 Paid wagesg. Miscellaneous expenses 76Cash 76 Paid miscellaneous expensesh. Note receivable 20Cash 20 Loan to office manager one-yearnote, 10 % interesti. Cash 691Accounts receivable 691Collections on accountsj. Accounts payable 471Cash 471 Payments on accountsk. Rent expense 26Prepaid rent 26 To reduce prepaid rent to $3,000l. Depreciation expense 6Accumulated depreciation,store equipment 6 Depreciation for the year 19X8m. Wages expense 6Cash 6 Adjustment for wagesn. Interest expense 7Cash 7 Adjustment: .15 x $80,000 x 7/12o. Cash 1Interest revenue 1 Adjustment: .10 x $20,000 x 6/122.A ccumulated Depreciation,Wages Expense Miscellaneous Expense(g) 76* Balance 12/31/X7** Balance 12/31/X83. CANSECO GA RDENSTrial BalanceDecember 31, 20X8Debits Credits Cash $ 24Accounts receivable 146Note receivable 20Inventory 241Prepaid rent 3Store equipment 60Accumulated depreciation,store equipment $ 30 Accounts payable 190Note payable 80Paid-in capital 40Retained income 79Sales 800Interest revenue 1Cost of goods sold 440Rent expense 26Depreciation 6Interest expense 7Miscellaneous expenses 76Wages expense 171Total $1,220 $1,220Chapter4(无答案)Chapter55-391. Gross sales $650,000*Deduct:Sales returns and allowances $30,000Cash discounts on sales 20,000 50,000Net sales $600,000 *$600,000 + $20,000 + $30,000 = $650,0002. (a) Accounts receivable 650,000Sales revenue 650,000(b) Sales returns and allowances 30,000Accounts receivable 30,000(c) Cash 600,000Cash discounts on sales 20,000Accounts receivable 620,0005-58(20 min.)Note that the data provide four years of experience to use in calculating the properpercentage. Sales and ending accounts receivable from 20X1 through20X4 are matched with write-offs for 20X2 through 20X5.1. Bad debt write-offs as a percentage of sales provides the amount to be added tothe allowance account. Bad debt write-offs as a percentage of sales are:($12,500 + $14,000 + $16,500 + $17,600)/($680,000 + $750,000 + $750,000 +$850,000) = $60,600/$3,030,000 = 2%Bad debt expense, 20X5 = 2% x $850,000 = $17,000Ending balance, allowance for uncollectible accounts= Beginning balance +bad debt expense– bad de = $16,000 + $17,000 – $17,600= $15,4005-58 (continued)Use of T-accounts might help:2. The percentage of ending accounts receivable method provides the desiredbalance in the allowance account. The allowance account balance, as apercentage of ending accounts receivable, should be calculated asfollows:($12,500 + $14,000 + $16,500 + $17,600)/($90,000 + $97,000 + $103,000 + $114,000)= $60,600/$404,000 = 15%Ending balance, allowance for uncollectible accounts, 20X5 = 15% x $112,000 =$16,800Beginning + bad debt –bad d balance expense write $16,000 +bad debt –$17,600 = $expenseBad debt expense = $16,800 + $17,600 – $16,000 = $18,400The critical issue is to realize the allowance balance before the bad debt expense entry isthe beginning balance of $16,000 less the write-offs of $17,600; a debitbalance of 1,600. The expense must bring this balance to zero and thencreate the required $16,800 credit balanceChapter 66-31PRA G’s JEWELRY WHOLESA LERSStatement of Gross ProfitFor the Year Ended December 31, 20X8(In Thousands)Gross sales $1,000 Deduct: Sales returns and allo wances $40 Cash discounts on sales 5 45Net sales 955Cost of goods sold:Inv entory, December 31, 20X7 $103A dd: Gross purchases $650Deduct: Purchase returnsand allo wances $27Cash discounts on purchases 6 33Net purchases 617A dd Freight-in 50Cost of merchandise acquired 667Cost of goods av ailable for sale 770Deduct: Inv entory, December 31, 19X8 170 Cost of goods sold 600 Gross profit $355 6-34 (10-15 min.)Cost of Goods A vailable = £21,300(8,000 + 4,200 + 4,400 + 2,300 + 2,400)L I F O E n d i n g I n v e n t o r y=(4,000@£2)+(1,500@£2.10)=£11,150FIFO Ending Inventory = 1,000 @ 2.40 =1,000 @ 2.30 = 2,3002,000 @ 2.20 = 4,4001,500 @ 2.10 = 3,1505,500 £12,250 Weighted av erage = £= £Ending inventory 5,500 @ £2.13 = £11,715Cost of Goods Sold Calculation:LIFO FIFO A verage Goods av ailable £21,300 £21,300 £21,300 Less Ending Inv entory (11,150) (12,250) (11,715) Cost of Goods Sold £10,150 £ 9,050 £ 9,585 6-40(10-15 min.)Compound entries could be prepared. (A mounts are in millions.)a. Sales returns and allowances 5Cash discounts on sales 8A ccounts receivable 226Sales 239b. Cost of goods sold 157Purchase returns and allowances 6Cash discounts on purchases 1Inventory 25Purchases 125Freight-in 14c. Inventory 40Cost of goods sold 40d. Other expenses 80Cash 80 6-53(15-25 min.)Under the FIFO cost-flow assumption, the periodic and perpetual procedures giv e identical results. The ending inv entory will be v alued on the basis of the last purchases during the period.Units $Beginning Inv entory 110 550Purchases 290 2,050Goods av ailable 400 2,600Units sold 255 1,485**Units in ending Inv entory145 1,115** 145 units remain in ending inv entory100 will be v alued at the $8 cost from the October 21 purchase and the remaining 45 will be v alued at the $7 cost from the May 9 purchase100 x $8 = $ 80045 x $7 = 315$1,115 Ending inv entory** Reconciliation: Cost of Goods Sold:255 Units: 110 x $5 = $ 55080 x $6 = 48065 x $7 = 455$1,4856-54 (30-35 min.)1. Gross profit percentage = $1,200,000 ÷ $3,000,000 = 40%Inventory turnover = $1,800,000 ÷2000, 550000,650$= 3 times2. Inv entory turnov er = $1,800,000 ÷ $450,000 = 4 times, a 1/3 increase in turnov er.3. With a lower av erage inv entory and constant turnover, cost of sales must fall. T o t alcost of goods sold = $450,000 x 3 = $1,350,000. To achiev e a gross profit of$1,200,000, total sales must be $1,350,000 + $1,200,000, or $2,550,000. The grossprofit percentage must be $1,200,000 ÷ $2,550,000 = 47.1%. Requirements 2 & 3sho w that if inv entory levels are reduced y ou must increase either turnover ormargins to maintain profitability.4. Summary (computations are sho wn belo w):Succeeding YearGiv en Year 4a 4b Sales $3,000,000 $2,892,857 $3,093,750Cost of goods sold 1,800,000 1,620,000 1,980,000 Gross profit $1,200,000 $1,272,857 $1,113,750a. New gross profit percentage, 40% + .10(40%) = 44%New inv entory turnover, 3 – .10(3) = 2.7New cost of goods sold, $600,000 x 2.7 = $1,620,000New sales = $1,620,000 ÷ (1 – .44)= $1,620,000 ÷ .56= $2,892,857Note that this is a more profitable alternative, assuming that the gross profitpercentage and the turnover can be achiev ed. In contrast, alternative 4b is lessattractiv e than the original 40% gross profit and turnover of 3.b. New gross profit percentage, 40% – .10(40%) = 36%New inv entory turnover, 3 + .10(3) = 3.3New cost of goods sold, $600,000 x 3.3 = $1,980,000New sales = $1,980,000 ÷ (1 .36)= $1,980,000 ÷ .64= $3,093,7505. Retailers find these ratios (and variations thereof) helpful for a v ariety of operatingdecisions, too many to enumerate here. A n obvious help is the quantify ing of theoptions facing management regarding what and how much inv entory to carry, andwhat pricing policies to follo w. You may want to stress that this analy sis ig n o res o n ebenefit of higher turnover—the firm reduces its inv estment in inv entory and reducesstorage and display requirements.6-84(15-20 min.)1.A n understatement of ending inventories overstates cost of goods sold andunderstates taxable income by $500,000. Taxes evaded would be .40 x $500,000 =$200,000.2.This news story provides a good illustration of why a basic knowledge ofaccounting is helpful in understanding the business press. The news story isincomplete or misleading in one important respect. The business owner'sunderstated ending inventory becomes the understated beginning inventory of thenext y ear. If no other manipulations occur, the owner will understate cost of go odssold during the next y ear, overstate taxable income, and pay an extra $200,000 inincome taxes. Thus, the owner will have postponed pay ing income taxes for oneyear, pay ing no interest on the money "borrowed" from the government.To continue to evade the $200,000 of income taxes of y ear one, the endinginventory of the second year must be understated by $500,000 again. Ho wev er, ifonly the $500,000 understatement persists y ear after y ear, the owner is enjoy ing aperpetual loan of $200,000 (based on a 40% tax rate) from the government. Datafollow (in dollars):6-84 (continued)Honest Reporting Dishonest ReportingFirst Year Second Year First Year Second Year Beginning inventory 3,000,000 2,500,000 3,000,000 2,000,000 Purchases 10,000,000 10,000,000 10,000,000 10,000,000 Available for sale 13,000,000 12,500,000 13,000,000 12,000,000 Ending inventory 2,500,000 2,500,000 2,000,000 2,000,000 Cost of goods sold 10,500,000 10,000,000 11,000,000 10,000,000 Income tax savings @ 40% 4,200,000 4,000,000 4,400,000 4,000,000 Income tax savings fortwo y ears together 8,200,000 8,400,000 Some students may incorrectlycumulative effect. You may wish to emphasize that the second y ear has the samecost of goods sold in each column, because in the "dishonest" case bothbeginning and ending inventory are understated by the same amount. To evadean additional $200,000 of income taxes in the second year, the ending inventorymust be understated by $1,000,000 (not $500,000) in the second y ear.6–86(35-45 min.) A mounts are in millions.Inventory Calculation1. Beginning + Purchases – Sales = Ending658 + Purchases – 6,746 = 1,232Purchases = 6,746 – 658 + 1,232Purchases = $7,3202. Turnover = Cost of sales ÷ average inventory Turnover = $6,746 ÷ ($1,232 + $658) ÷ 2 = $6,746 ÷ $945 = 7.143. Gross MarginSales$18,928$6,746 $18,928 -= .64 2000$12,1734,259$ $12,173-= .65 1999489,8$924,2$ 489,8$ -= .66 1998The gross margin has fallen slightly over the three y ears.Gross margins for Cisco are high. This is because of the industry . Software and technology innovations are expensive to develop but inexpensive to produce and distribute. Note that costs of creating these products are largely research and development, and these costs are accounted for as operating expenses in the year incurred.Chapater77-28(10-15 min.) You may want to use T-accounts too.1. Depreciation expense, equipment 160,000Accumulated depreciation, equipment 160,000 To record annual depreciation:($880,000-$80,000) ÷ 5 = $160,0002. Cash 160,000Accumulated depreciation,equipment 80,000Equipment 220,000Gain on sale of equipment 20,000 To record sale of equipment:Cash proceeds $160,000Original cost $220,000Accumulated depre-ciation, 2 x $40,000 = 80,000Book value (or carryingamount) 140,000Gain on sale $ 20,0003. Cash 110,000Accumulated depreciation,equipment 80,000 Loss on sale of equipment 30,000 Equipment 220,000 To record sale of equipment:Cash proceeds $110,000Book value (see above) 140,000Loss on sale $ 30,0007-58(25-35 min.) A mounts in table are in thousands of dollars.1. Zero Income Taxes2. 40% IncomeTaxesStraight-line Accelerated Straight-line AcceleratedDepreciation Depreciation Depreciation Depreciation Revenues 900 900 900 900 Cash operating expenses 600 600 600 600 Cash provided by operationsbefore income taxes 300 300 300 300 Depreciation expense 50 100 50 100 Operating income 250 200 250 200 Income tax expense ––100 80 Net income 250 200 150 120 Supplementary analysis:Cash provided by operationsbefore income taxes 300 300 300 300 Income tax payments ––100 80 Net cash provided byoperations 300 300 200 220 3. By itself, depreciation expense does not provide cash. This point is illustrated bypart 1 that compares the amounts shown before taxes. Note that the cashprovided by operations (and the ending cash balances) are exactly the same. Nomatter what depreciation expense is allocated to the year (whether $50,000,$100,000, or zero), the $300,000 cash provided by operations and the ending cashwill be unaffected.Examine part 2, that compares amounts after taxes. A gain, by itself, depreciationdoes not affect the cash inflow provided by operations. However, depreciationdoes affect the cash outflow for income taxes. The use of accelerateddepreciation results in a strange combination of showing less net income butconserving more cash. The accelerated method shows net income of $120,000(compared with $150,000 using straight-line), but accelerated shows a netincrease in cash provided by operations (less income taxes) of $220,000(compared with $200,000 using straight-line). A ccordingly, the final cash balanceis $20,000 higher for accelerated than for straight-line.4. Journal entries (not required) may clarify the effects:Depreciation expense 50,000 moreAccumulated depreciation 50,000 moreIncome tax expense 20,000 lessCash 20,000 less7-58 (continued)The reduction of retained income would be $150,000 – $120,000. That is, net income(and hence retained income) would be $30,000 lower. In summary:Cash, increase by tax savings, .40 x $50,000 = $20,000Accumulated depreciation, increased by $50,000Operating income, decrease by $50,000Income tax expense, decrease by $20,000Retained income, decrease by $30,0005. The doubling of depreciation would cause net income to decrease but in theabsence of tax effects would have no effect on cash provided by operations:Straight-line AcceleratedDepreciation DepreciationBefore Doubled Before Doubled Revenues 900 900 900 900 Cash operating expenses 600 600 600 600 Cash provided by operations 300 300 300 300 Depreciation expense 50 100 100 200 Income before income taxes 250 200 200 100 Income tax expense ----Net income 250 200 220 100Chapater88-32(10-15 min.)1. Claims Distribution of ProceedsFirst mortgage bondspayable $13,000,000 In full $13,000,000 Accounts payable 3,000,000 3/8 of remainder* 2,250,000 Unsubordinated debentures 5,000,000 5/8 of remainder* 3,750,000 Total claims $21,000,000 Total distribution $19,000,000 * Total general unsecured claims = $3,000,000 + $5,000,000 = $8,000,000,so remaining proceeds of $19,000,000 – $13,000,000, or $6,000,000, will besplit 3/8, 5/8, or 75 cents per dollar of claim ($6,000,000 ÷ 8,000,000).2. Claims Distribution of ProceedsFirst mortgage bondspayable $13,000,000 In full $13,000,000 Accounts payable 3,000,000 In full 3,000,000 Subordinated debentures 5,000,000 Remainder 3,000,000 Total claims $21,000,000 Total distribution $19,000,000 Ordinary trade creditors have than subordinatedholders who would now receive only 60 cents per dollar of claim.If only $14.5 million cash becomes available, the first mortgage holders would get$13 million, the trade creditors would receive $1.5 million (only 50 cents for eachdollar claimed), and the holders of subordinated debentures would receivenothing.8-33(10 min.) A mounts are in millions.1. Income tax expense 4,045Income taxes payable 1,904Deferred income taxes 2,141 To record income tax expense.Income taxes payable 1,904Cash 1,904 To record payment of income taxes.These two transactions could have been combined:Income tax expense 4,045Deferred income taxes 2,141Cash 1,904 To record income tax expense and payments.2. The deferred tax liability increases by $4,045 $1,904 = $2,141.8-44 (15-25 min.)1. Debt to Equity Ratios1999 1992AT&T $90,479 ÷ $78,927 = 1.15 $17,122 ÷ $20,313 = .84 MICRON $ 3,001 ÷ $3,964 = .76 $ 213 ÷ $ 511 = .42 AMGEN $ 1,054 ÷ $ 3,024 = .35 $ 440 ÷ $ 934 = .472. AT&T is a large company with well-established credit reputations and largeamounts of fixed assets to use as collateral for debt. Earnings are relativelystable. Therefore, A T&T has the ability to borrow large amounts, as shown bythe high debt-to-equity ratio.In contrast, Micron Technologies and A mgen are newer, smaller companies involatile high-tech industries. They have not yet established the credit worthinessto borrow as much as A T&T.3. Each company's ratio changes over the seven-year period, but the direction is notconsistent. Thus, the changes appear more idiosyncratic than economy driven.Particularly for small firms such as MICRON and AMGEN, a single new issue ofdebt or equity can have a large immediate effect on the ratios.Chapter99-26(10-20 min.)1. a. PV = $20,000(.6830) = $13,660b. PV = $20,000(.4823) = $ 9,6462. The annual rates would be halved and the periods doubled. Present valuesdecline:a. PV = $20,000(.6768) = $13,536b. PV = $20,000(.4665) = $ 9,3303. Present values rise because the money is repaid more quickly:a. PV = $5,000(3.1699) = $15,849.50b. PV = $5,000(2.5887) = $12,943.509-28(10-15 min.)1. Equipment 394,000Cash 100,000Contract payable (or note payable) 294,000 Equipment is capitalized at its cash-equivalent cost.2. The imputed interest rate makes the present value of the payments equal to thecash price:DM100,000 + (DM400,000 x (4-year, Y% factor in Table 9-2)) = 394,000Factor = (DM394,000 DM100,000) ÷ DM400,000 = .7350From the 4-year row of Table 9-2, Y = 8%Year 1 Interest expense 23,520Contract payable 23,520 .08 x DM294,000 = DM23,520Year 2 Interest expense 25,402Contract payable 25,402 .08 x (DM294,000 + 23,520) =.08 x DM317,520 = DM25,4029-29(15-20 min.)1. Equipment 416,990Cash 100,000Contract payable, current 68,301Contract payable, long-term 248,689 Equipment is capitalized at its cash-equivalent cost of $100,000 plus thepresent value of the contract:PV = $100,000(3.1699) = $316,990Analysis of first installment:Total amount $100,000Interest portion, .10 x $316,990 = 31,699Principal portion, current liability $ 68,301Total contract payable $316,990Current liability 68,301Long-term portion $248,2892. Interest expense 31,699Contract payable, current 68,301Cash 100,000 To record interest expense andreduction of principal.Contract payable, long-term 75,131Contract payable, current portion 75,131 To reclassify current liability oflong-term debt as short-term debt.Analysis of second installment:Total amount $100,000Interest portion,.10 x ($316,990 – $68,301)or .10 x $248,689 = 24,869Principal portion current liability $ 75,3119-45 (25-35 min.)Analysis of Bond Transactions (In Thousands of Norwegian Kroner)A = L + SECashBonds Payable Discount on Bonds Payable Retained Incomea. Issuance7,881=+10,000 –2,119b. First semi-annual interest– 500* =+ 52 – 552** ⎥⎥⎦⎤⎢⎢⎣⎡Expense Interest Increasec. Maturity value–10,000 = –10,000 Bond related totals***–12,119 =0 0 –12,119* NKR10,000,000 x 10% x 1/2 ** NKR7,881,000 x 14% x 1/2*** Twenty semi-annual payments of NKR500 plus repayment of NKR2,119 in excessof the original borrowing. 2. Sample Journal Entries Bond Transactions (In Thousands of Norwegian Kroner)a. Cash 7,881 Discount on bonds payable 2,119 Bonds payable 10,000To record proceeds upon issuance of 10%bonds maturing on December 31, 2015. b. Interest expense 552 Discount on bonds payable 52 Cash 500To record amortization of discount and payment of interest.c. Bonds payable 10,000Cash 10,000 To record payment of maturity valueof bonds and their retirement.3. When presented on balance sheets, unamortized discounts are deducted fromthe face value of the related bonds (in thousands):December 31, 2005 June 30, 2006Bonds payable, 10% due December 31, 2015 NKR10,000 NKR10,000 Deduct: Discount on bonds payable 2,119 2,067* Net liability NKR 7,881 NKR 7,933* 2,119 – 52 = 2,0679-49(20-40 min.)1. To compute the gain or loss, first calculate the net liability at December 31, 2001:Face amount $20,000,000Proceeds 17,880,800 * Discount at issuance 2,119,2006/30/01 discount amortization (51,656) ** 12/31/01 discount amortization (55,272) †Bond discount unamortized at 12/31/01 $ 2,012,272 * ($1,200,000 x 10.5940) + ($20,000,000 x .2584)** (7% x $17,880,800) – (6% x $20,000,000)†(7% x ($17,880,800 + $51,656)] - (6% x $20,000,000)The net liability is the face amount less the discount:Face amount $20,000,000 Bond discount unamortized at 12/31/01 2,012,272 Net liability at 12/31/01 $17,987,728 The amount by which the cash payment for the debentures exceeds the netliability is the loss on early extinguishment. A mounts are in thousands:Cash payment $19,000Net liability at 12/31/01 17,988Loss on early extinguishment of debt $ 1,0129-49 (continued) 2. Analysis of Early Extinguishment of Debt (In Thousands of Dollars)A =L+ SEIssuer's Record Cash = Bonds Payable Discount on Bonds PayableRetained IncomeRedemption,December 31, 2001 –19,000= –20,000+2,012⎥⎦⎤⎢⎣⎡Discount Decrease –1,012 ⎥⎦⎤⎢⎣⎡ment Extinguish Early on Loss 3. Journal Entry(In Thousands)Issuer's RecordsDecember 31, 2001 Bonds payable 20,000 Loss on early extinguishment of debt 1,012 Discount on bonds payable 2,012 Cash 19,000To record open-market acquisition of entire issue of 12% bonds for $19 million. 4. A gain arises if the bond is extinguished for less than the carrying value,$17,987,728 – $500,000 gives a price of $17,487,728.9-57 (20-30 min.)Some instructors may prefer to (a) ask students to prepare entries for two years only here and (b) also assign the next problem. 1. PV A = $40,000 x A nnuity Factor for 3 years at 18% = $40,000 x 2.1743= $86,9722. Equipment leasehold 86,972Lease liability, current*24,345Lease liability, long-term 62,627 To record capital lease.Analysis of first installment:Total amount $40,000Interest, .18 x $86,972 15,655Principal portion, current liability $24,345Total liability $86,972Current liability 24,345Long-term liability $62,627Entry for straight-line amortization of the asset for each of three years: Amortization of equipment leasehold 28,991 Equipment leasehold 28,991 To record straight-line amortization:$86,972 ÷ 3 = $28,991.Lease Payments and Liability ReclassificationsYear OneInterest expense 15,655Lease liability, current 24,345 Cash 40,000 To record interest expense andreduction of liability.Lease liability, long term 28,727 Lease liability, current 28,727 To reclassify next installment oflong-term debt as short-term debt.Analysis of second installment:Total $40,000Interest portion:.18 x ($86,972 – $24,345)= .18 x $62,627 = 11,273 Principal portion, current liability $28,727Total liability $62,627Current liability 28,727Long-term liability $33,9009-57 (continued)Year TwoInterest expense 11,273Lease liability, current 28,727Cash 40,000 To record interest expense andreduction of liability.Lease liability, long-term 33,900Lease liability, current 33,900 To reclassify next installmentof long-term debt as short-term debt.Year ThreeInterest expense 6,100Lease liability, current 33,900Cash 40,000Analysis of third installment:Total amount $40,000Interest, .18 x $33,900 6,102Principal $33,898** Rounding causes this amount to differ from the $33,900 liability. These roundingerrors occur because the present value tables are carried to four places only rather thanto five or more places. This rounding causes the present value of the lease to be rounded at its inception.。

_财务会计2_第8版习题答案(1-6章)

《财务会计Ⅱ》习题答案：项目一外币折算一、单项选择题1.A2.D3.C4.C5.D6.C7.A8.B二、多项选择题1.ACD2.AC3.CD4.CD5.AC6.AD7.BD8.CD三、判断题1.√2.×3.√4.√5.×6.×7.√8.√四、计算分析题1.借：银行存款（人民币户）307 500（50000×6.15）财务费用 2 500贷：银行存款——美元户 310 000（50000×6.2）2.借：银行存款——美元户 61 000（10000×6.1）财务费用 1 000贷：银行存款（人民币户）62 000（10000×6.2）3.借：固定资产 1 537 500（250000×6.15）贷：应付账款——美元户 1 537 5004.借：银行存款——港元户 3 300 000（3000000×1.1）贷：短期借款——港元户 3 300 0005.会计分录：（1）借：银行存款——美元户3 120 000（500000×6.24）贷：实收资本3 120 000（2）借：固定资产2 492 000（400000×6.23）贷：应付账款2 492 000（3）借：应收账款1 244 000（200000×6.22）贷：主营业务收入1 244 000（4）借：应付账款1 250 000（200000×6.25）贷：银行存款1 242 000（200000×6.21）财务费用——汇兑差额8 000（5）借：银行存款1 890 000（300000×6.3）贷：应收账款1 875 000（300000×6.25）财务费用——汇兑差额15 000期末汇兑损益的计算：银行存款账户汇兑损益=700 000×6.3-（625 000+3 120 000-1 242 000+1 890 000）=4 410 000-4 393 000=17 000（元）（调增、收益）应收账款账户汇兑损益=400 000×6.3-（3 125 000+1 244 000-1 875 000）=2 520 000-2 494 000=26 000（元）（调增、收益）应付账款账户汇兑损益=400 000×6.3-（1 250 000+2 492 000-1 250 000）=2 520 000-2 492 000=28 000（元）（调增、损失）汇总损益净额=17 000+26 000-28 000=15 000（元）借：银行存款17 000应收账款26 000贷：应付账款28 000财务费用——汇兑差额15 000项目二借款费用一、单项选择题1.A2.A3.C4.C5.D6.A7.A8.B9.A 10.C二、多项选择题1.ABC2.ABCD3.ABD4.ABC5.AB6.ABC7.ABD8.AD9.AD 10.ABC11.ACD 12.ACD 13.ABD三、判断题1.√2.×3.×4.√5.×6.√7.×8.√9.× 10.×四、计算分析题1.（1）资本化期间为2016年1月1日至2017年6月30日。

_财务会计2_第8版习题答案（1-6章）

_财务会计2_第8版习题答案（1-6章）《财务会计Ⅱ》习题答案：项目一外币折算一、单项选择题1.A2.D3.C4.C5.D6.C7.A8.B二、多项选择题1.ACD2.AC3.CD4.CD5.AC6.AD7.BD8.CD三、判断题1.√2.×3.√4.√5.×6.×7.√四、计算分析题1.借：银行存款（人民币户）307 500（50000×6.15）财务费用 2 500贷：银行存款——美元户 310 000（50000×6.2）2.借：银行存款——美元户 61 000（10000×6.1）财务费用 1 000贷：银行存款（人民币户）62 000（10000×6.2）3.借：固定资产 1 537 500（250000×6.15）贷：应付账款——美元户 1 537 5004.借：银行存款——港元户 3 300 000（3000000×1.1）贷：短期借款——港元户 3 300 0005.会计分录：（1）借：银行存款——美元户3 120 000（500000×6.24）贷：实收资本3 120 000（2）借：固定资产2 492 000（400000×6.23）贷：应付账款2 492 000（3）借：应收账款1 244 000（200000×6.22）贷：主营业务收入1 244 000（4）借：应付账款1 250 000（200000×6.25）贷：银行存款1 242 000（200000×6.21）财务费用——汇兑差额8 000借：银行存款1 890 000（300000×6.3）贷：应收账款1 875 000（300000×6.25）财务费用——汇兑差额15 000期末汇兑损益的计算：银行存款账户汇兑损益=700 000×6.3-（625 000+3 120 000-1 242 000+1 890 000）=4 410 000-4 393 000=17 000（元）（调增、收益）应收账款账户汇兑损益=400 000×6.3-（3 125 000+1 244 000-1 875 000）=2 520 000-2 494 000=26 000（元）（调增、收益）应付账款账户汇兑损益=400 000×6.3-（1 250 000+2 492 000-1 250 000）=2 520 000-2 492 000=28 000（元）（调增、损失）汇总损益净额=17 000+26 000-28 000=15 000（元）借：银行存款17 000应收账款26 000贷：应付账款28 000财务费用——汇兑差额15 000项目二借款费用一、单项选择题1.A2.A3.C4.C5.D6.A7.A8.B9.A 10.C二、多项选择题1.ABC2.ABCD3.ABD4.ABC5.AB6.ABC7.ABD8.AD9.AD 10.ABC11.ACD 12.ACD 13.ABD三、判断题1.√2.×3.×4.√5.×6.√7.×8.√9.× 10.×四、计算分析题1.（1）资本化期间为2016年1月1日至2017年6月30日。

财务会计学课后习题参考答案与解析(1_13章)

复习资料第一章财务会计基本理论（参考答案略）第二章货币资金与应收项目知识题和能力题（答案要点及解题思路可参见教材内容）：略技能题：1、（1）借：库存现金 5 000贷：银行存款 5 000（2）借：管理费用—办公费 300贷：库存现金 300（3）借：其它应收款—张地 2 000贷：库存现金 2 000（4）借：库存现金 60 000贷：银行存款 60 000（5）借：应付职工薪酬—洪某 500贷：库存现金 500（6）借：银行存款 1 170贷：主营业务收入 1 000应交税费—应交增值税（销项税额）170（7）借：应付职工薪酬 60 000贷：库存现金 60 000（8）借：其它应收款—后勤部门 6 000贷：库存现金 6 000（9）借：银行存款 46 800贷：应收账款—雨的公司 46 800（10）借：管理费用—差旅费 2 200贷：其它应收款—张地 2 000库存现金 200（11）借：应付账款—飞天公司 117 000贷：银行存款 117 000（12）借：原材料—甲材料 50 500应交税费—应交增值税（进项税额）8 500贷：银行存款 59 000 （13）借：应收账款 234 000 贷：主营业务收入 200 000 应交税费—应交增值税（销项税额） 34 000 （14）借：管理费用—保管费 5 000贷：库存现金 5 0002、3、（1）收到票据时：贷：主营业务收入 200 000应交税费—应交增值税（销项税额） 34 000 （2）年终计提利息利息收入=234 000×10%÷12×6＝5 850借：应收票据 5 850贷：财务费用 5 850（3）到期收回票据借：银行存款 245 700贷：应收票据 239 850财务费用 5 8504、（1）收到票据时：借：应收票据—甲公司 117 000贷：主营业务收入 100 000应交税费—应交增值税（销项税额） 17 000 （2）办妥贴息手续时：票据到期值=117 000（1+10%÷12×6）＝122 850贴息利息=122 850×12%÷12×4=4 914贴息所得=122 850-4 914=117 936借：银行存款 117 936贷：应收票据 117 000财务费用 9365、（1）第一年应提坏账准备=1 000 000×1%=10 000借：资产减值损失—计提坏账准备 10 000贷：坏账准备 10 000（2）第二年发生坏账：借：坏账准备 50 000贷：应收账款 50 000年终计提坏账准备前坏账准备余额=10 000-50 000=-40 000年终坏账准备余额应为=1 200 000×1%=12 000应补提坏账准备=12 000-（-40 000）=52 000借：资产减值损失—计提坏账准备 52 000贷：坏账准备 52 000（3）第三年发生坏账：借：坏账准备 40 000贷：应收账款 40 000又收回坏账：借：应收账款 20 000贷：坏账准备 20 000同时，借：银行存款 20 000贷：应收账款 20 000年终计提坏账准备前坏账准备余额=12 000-40 000+20 000=-8 000 年终坏账准备余额应为=900 000×1%=9 000应补提坏账准备=9 000-（-8 000）=17 000借：资产减值损失—计提坏账准备 17 000贷：坏账准备 17 0006、（1）伊人公司（总价法）：10月1日借：应收账款—乙公司 58 500贷：主营业务收入 50 000 应交税费—应交增值税（销项税额） 8 500 若乙公司10月9日还款：借：银行存款 57 500财务费用 1 000贷：应收账款—乙公司 58 500若乙公司10月19日还款：借：银行存款 58 000财务费用 500贷：应收账款—乙公司 58 500若乙公司10月29日还款：借：银行存款 58 500贷：应收账款—乙公司 58 500（2）伊人公司（净价法）：10月1日借：应收账款—乙公司 57 500贷：主营业务收入 49 000 应交税费—应交增值税（销项税额） 8 500 若乙公司10月9日还款：借：银行存款 57 500贷：应收账款—乙公司 57 500若乙公司10月19日还款：借：银行存款 58 000贷：应收账款—乙公司 57 500财务费用 500若乙公司10月29日还款：借：银行存款 58 500贷：应收账款—乙公司 57 500财务费用 1 000（3）乙公司（总价法）：10月1日借：在途物资 50 000 应交税费—应交增值税（进项税额） 8 500贷：应付账款—乙公司 58 500 若乙公司10月9日还款：借：应付账款—乙公司 58 500贷：银行存款 57 500财务费用 1 000若乙公司10月19日还款：借：应付账款—乙公司 58 500贷：银行存款 58 000财务费用 500若乙公司10月29日还款：借：应付账款—乙公司 58 500贷：银行存款 58 500（4）乙公司（净价法）：10月1日借：在途物资 49 000应交税费—应交增值税（进项税额） 8 500贷：应付账款—乙公司 57 500 若乙公司10月9日还款：借：应付账款—乙公司 57 500贷：银行存款 57 500若乙公司10月19日还款：借：应付账款—乙公司 57 500贷：银行存款 57 000财务费用 500若乙公司10月29日还款：借：应付账款—乙公司 57 500财务费用 1 000贷：银行存款 58 500第三章存货知识题和能力题（答案要点及解题思路可参见教材内容）：略技能题：1、借：在途物资 201 000应交税费—应交增值税（进项税额） 34 000贷：银行存款 235 0002、（1）月末估价入账：借：原材料 100 000贷：应付账款 100 000（2）次月初红字冲回借：原材料100 000贷：应付账款100 000（3）次月6日借：原材料 102 000应交税费—应交增值税（进项税额） 17 000贷：银行存款 119 0003、（1）8日，借：预付账款—丁公司 60 000贷：银行存款 60 000（2）20日，借：原材料 81 500应交税费—应交增值税（进项税额） 13 600贷：预付账款—丁公司 95 100 同时，借：预付账款—丁公司 35 100贷：银行存款 35 100或者合并做以下处理：借：原材料 81 500应交税费—应交增值税（进项税额） 13 600贷：预付账款—丁公司 60 000银行存款 35 1004、（1）总价法购入材料时：借：在途物资 100 000应交税费—应交增值税（进项税额） 17 000贷：应付账款—乙公司 117 000 若在10天内付款：借：应付账款—乙公司 117 000贷：银行存款 115 000财务费用 2 000若超过10天付款：借：应付账款—乙公司 117 000贷：银行存款 117 000（2）净价法购入材料时：借：在途物资 98 000应交税费—应交增值税（进项税额） 17 000贷：应付账款—乙公司 115 000 若在10天内付款：借：应付账款—乙公司 115 000贷：银行存款 115 000若超过10天付款：借：应付账款—乙公司 115 000财务费用 2 000贷：银行存款 117 0005、（1）拨付原材料时，借：委托加工物资 60 000贷：原材料 60 000（2）支付加工费时，借：委托加工物资 20 000贷：银行存款 20 000（3）支付税金时，借：应交税费—应交增值税（进项税额） 3 400—应交消费税 8 000贷：银行存款 11 400（4）收回加工物资时，借：原材料—A材料 80 000贷：委托加工物资 80 0006、（1）10日进货时，借：材料采购 102 000应交税费—应交增值税（进项税额） 17 000贷：银行存款 119 000 （2）10月2日材料入库：借：原材料 100 000贷：材料采购 100 000同时，借：材料成本差异 2 000贷：材料采购 2 000或者合并做以下会计处理：借：原材料 100 000贷：材料采购 102 000（3）10月20日进货：借：材料采购 205 000应交税费—应交增值税（进项税额） 34 000贷：应付票据 200 000应付账款 39 000（4）10月22日第二批材料入库：借：原材料 220 000贷：材料采购 220 000同时，借：材料采购 15 000贷：材料成本差异 15 000或者合并做以下会计处理：借：原材料 220 000贷：材料采购 205 000材料成本差异 15 0007、（1）购入存货：借：在途物资 2 000 000应交税费—应交增值税（进项税额） 340 000贷：银行存款等 2 340 000借：库存商品 2 600 000贷：在途物资 2 000 000商品进销差价 600 000（2）销售时，借：银行存款等 3 276 000贷：主营业务收入 2 800 000应交税费—应交增值税（销项税额） 476 000（3）结转成本借：主营业务成本 2 800 000贷：库存商品 2 800 000（4）结转已销商品进销差价进销差价率=（400 000+600 000）÷（800 000+2 600 000）=29.4%已销商品进销差价=2 800 000×29.4%=823 200已销商品成本=2 800 000-823 200=1 976 800借：商品进销差价 823 200贷：主营业务成本 823 2008、（1）2010年借：资产减值损失—计提存货跌价准备 200 000贷：存货跌价准备 200 000（2）2011年借：资产减值损失—计提存货跌价准备 100 000（1 800 000-1 700 000）贷：存货跌价准备 100 000（3）2012年借：存货跌价准备 240 000（1 940 000-1 700 000）贷：资产减值损失—计提存货跌价准备 240 000（4）2013年借：存货跌价准备 60 000（2 000 000-1 940 000）第四章金融资产知识题（答案要点可参见教材内容）：略技能题：1、（1）2×11年 5 月 10 日借：交易性金融资产——成本600应收股利 20投资收益 6贷：银行存款 6262×11年5 月 30 日借：银行存款20贷：应收股利 202×11 年 6 月 30 日借：交易性金融资产——公允价值变动40贷：公允价值变动损益 402×11年 8 月 10 日借：应收股利 40贷：投资收益 402×11年 8 月 20 日借：银行存款40贷：应收股利 402×11年12 月 31 日借：交易性金融资产——公允价值变动80贷：公允价值变动损益 802×12年 1 月 3 日借：银行存款630投资收益 90贷：交易性金融资产——成本 600——公允价值变动 120同时：借：公允价值变动损益 120贷：投资收益 120（2）累计损益=120+40-6-90=642、应收利息=面值×票面利率投资收益=债券期初摊余成本×实际利率“持有至到期投资—利息调整”即为“应收利息”和“投资收益”的差额。

财务会计学课后答案(全)

第2章货币资金和应收款项2.（1）借：其他货币资金-外埠存款400000贷：银行存款400000（2）借：其他货币资金-银行汇票存款15000贷：银行存款15000（3）借：原材料300000应交税费51000贷：其他货币资金-外埠存款351000（4）借：原材料10000应交税费1700贷：其他货币资金-银行汇票存款11700（5）借：银行存款49000贷：其他货币资金-外埠存款49000（6）借：银行存款3300贷：其他货币资金-银行汇票存款33003.总价法5月3日借：应收账款66690贷：主营业务收入57000应交税费96905月18日借：银行存款66023.1财务费用666.9贷：应收账款666905月19日120×100×0.95=11400 11400×0.17=1938 （11400+1938）×1%=133.38借：主营业务收入11400应交税费1938贷：银行存款13204.62财务费用133.38净价法57000×（1+17%）=6669066690×2%=1333.85月3日借：应收账款65356.2贷：主营业务收入55666.2应交税费96905月18日借：银行存款66023.1贷：应收账款65356.2财务费用666.95月19日借：主营业务收入11133.24应交税费1938财务费用133.38贷：银行存款13204.624.2009年借：资产减值损失10000贷：坏账准备100002010年借：坏账准备4000贷：应收账款4000借：资产减值损失8000贷：坏账准备80002011 借：坏账准备20000贷：应收账款20000借：应收账款3000贷：坏账准备3000借：资产减值损失12000贷：坏账准备12000第三章1.（1）借：在途物资-甲10300应交税费1700贷：银行存款12000（2）借：原材料-甲10300贷：在途物资-甲10300（3）乙货款30000丙货款20000运费分配率=1000/(300+200)=2保险费分配率=1500/(30000+20000)=0.03乙的成本=30000+600×（1-7%）+900=31458丙的成本=20000+400×（1-7%）+600=20972借：在途物资-乙31458-丙20972应交税费8570贷：银行存款61000（4）借：原材料-乙31458-丙20972贷：在途物资-乙31458-丙20972（5）借：在途物资-甲20000应交税费3400贷：银行存款23400（6）借：原材料-乙9000贷：在途物资9000（7）借：原材料-丁30000贷：应付账款300002.（1）借：在途物资30930应交税费5170贷：银行存款36100（2）借：库存商品57000贷：在途物资30930商品进销差价26070（3）借：银行存款60000贷：主营业务收入60000借：主营业务收入60000贷：库存商品60000（4）60000/(1+17%)=5128251282×17%=8717.95借：主营业务收入8717.95贷：应交税费8717.95（5）商品进销差价率=（9700+26070）/(43000+570000×100%=35.77% 已销商品进销差价=60000×35.77%=21462借：商品进销差价21462贷：主营业务成本214623.（1）甲材料可变现净值=510-9-200=301账面价值=300未发生减值。

财务管理学第8版习题答案

财务管理学第8版习题答案在学习财务管理学的过程中，完成课后习题是巩固知识、检验理解程度的重要方式。

然而，有时候我们可能会在解题过程中遇到困难，需要参考习题答案来获得启发和指导。

下面，我将为大家提供财务管理学第 8 版的一些常见习题答案，并对相关知识点进行简要的分析和讲解。

首先，让我们来看一道关于货币时间价值的习题。

题目：假设你现在有 10000 元，年利率为 5%，复利计息，那么 5 年后你将拥有多少钱？答案：根据复利终值的计算公式：F ＝ P ×（1 ＋r)ⁿ，其中 F 表示终值，P 表示现值，r 表示年利率，n 表示年数。

将题目中的数据代入公式，可得：F ＝ 10000 ×（1 ＋ 5%）⁵≈ 1276282 元。

这道题主要考查了对复利终值概念的理解和运用。

复利终值是指现在的一笔资金在未来某一时刻的价值。

通过计算复利终值，我们可以了解到资金在经过一定时间的投资后所能获得的增值。

接下来，看一道关于资本成本的习题。

题目：某公司发行债券，面值为 1000 元，票面利率为 8%，期限为5 年，每年付息一次，发行价格为 950 元，发行费用率为 2%，所得税税率为 25%。

计算该债券的资本成本。

答案：首先计算债券的年利息：1000 × 8% ＝ 80 元。

然后计算债券的实际筹资额：950 ×（1 2%）＝ 931 元。

接下来计算债券每年的税后利息：80 ×（1 25%）＝ 60 元。

最后，根据资本成本的计算公式：K ＝ I ×（1 T) ／ L ×（1 f)，其中 K 表示资本成本，I 表示年利息，T 表示所得税税率，L 表示债券面值，f 表示发行费用率。

将数据代入公式，可得：K ＝ 60 ／ 931 ×（1 002) ≈ 644%。

这道题涉及到了债券资本成本的计算，需要综合考虑债券的票面利率、发行价格、发行费用率和所得税税率等因素。

会计学原理Financial Accounting by Robert Libby第八版第七章答案

Chapter 7Reporting and Interpreting Cost of Goods Sold and InventoryANSWERS TO QUESTIONS1. Inventory often is one of the largest amounts listed under assets on the balancesheet which means that it represents a significant amount of the resources available to the business. The inventory may be excessive in amount, which is a needless waste of resources; alternatively it may be too low, which may result in lost sales. Therefore, for internal users inventory control is very important. On the income statement, inventory exerts a direct impact on the amount of income.Therefore, statement users are interested particularly in the amount of this effect and the way in which inventory is measured. Because of its impact on both the balance sheet and the income statement, it is of particular interest to all statement users.2. Fundamentally, inventory should include those items, and only those items,legally owned by the business. That is, inventory should include all goods that the company owns, regardless of their particular location at the time.3. The cost principle governs the measurement of the ending inventory amount.The ending inventory is determined in units and the cost of each unit is applied to that number. Under the cost principle, the unit cost is the sum of all costs incurred in obtaining one unit of the inventory item in its present state.4. Goods available for sale is the sum of the beginning inventory and the amount ofgoods purchased during the period. Cost of goods sold is the amount of goods available for sale less the ending inventory.5. Beginning inventory is the stock of goods on hand (in inventory) at the start of theaccounting period. Ending inventory is the stock of goods on hand (in inventory) at the end of the accounting period. The ending inventory of one period automatically becomes the beginning inventory of the next period.6. (a) Average cost–This inventory costing method in a periodic inventorysystem is based on a weighted-average cost for the entire period. At theend of the accounting period the average cost is computed by dividing thegoods available for sale in units into the cost of goods available for salein dollars. The computed unit cost then is used to determine the cost ofgoods sold for the period by multiplying the units sold by this average unitcost. Similarly, the ending inventory for the period is determined bymultiplying this average unit cost by the number of units on hand.(b) FIFO–This inventory costing method views the first units purchased as thefirst units sold. Under this method cost of goods sold is costed at theoldest unit costs, and the ending inventory is costed at the newest unitcosts.(c) LIFO–This inventory costing method assumes that the last unitspurchased are the first units sold. Under this method cost of goods sold iscosted at the newest unit costs and the ending inventory is costed at theoldest unit costs.(d) Specific identification–This inventory costing method requires that eachitem in the beginning inventory and each item purchased during the periodbe identified specifically so that its unit cost can be determined byidentifying the specific item sold. This method usually requires that eachitem be marked, often with a code that indicates its cost. When it is sold,that unit cost is the cost of goods sold amount. It often is characterized asa pick-and-choose method. When the ending inventory is taken, thespecific items on hand, valued at the cost indicated on each of them, is theending inventory amount.7. The specific identification method of inventory costing is subject to manipulation.Manipulation is possible because one can, at the time of each sale, select (pick and choose) from the shelf the item that has the highest or the lowest (or some other) unit cost with no particular rationale for the choice. The rationale may be that it is desired to influence, by arbitrary choice, both the amount of income and the amount of ending inventory to be reported on the financial statements. To illustrate, assume item A is stocked and three are on the shelf. One cost $100;the second one cost $115; and the third cost $125. Now assume that one unit is sold for $200. If it is assumed arbitrarily that the first unit is sold, the gross profit will be $100; if the second unit is selected, the gross profit will be $85; or alternatively, if the third unit is selected, the gross profit will be $75. Thus, the amount of gross profit (and income) will vary significantly depending upon which one of the three is selected arbitrarily from the shelf for this particular sale. This assumes that all three items are identical in every respect except for their unit costs. Of course, the selection of a different unit cost, in this case, also will influence the ending inventory for the two remaining items.8. LIFO and FIFO have opposite effects on the inventory amount reported underassets on the balance sheet. The ending inventory is based upon either the oldest unit cost or the newest unit cost, depending upon which method is used.Under FIFO, the ending inventory is costed at the newest unit costs, and under LIFO, the ending inventory is costed at the oldest unit costs. Therefore, when prices are rising, the ending inventory reported on the balance sheet will be higher under FIFO than under LIFO. Conversely, when prices are falling the ending inventory on the balance sheet will be higher under LIFO than under FIFO.9. LIFO versus FIFO will affect the income statement in two ways: (1) the amount ofcost of goods sold and (2) income. When the prices are rising, FIFO will give a lower cost of goods sold amount and hence a higher income amount than will LIFO. In contrast, when prices are falling, FIFO will give a higher cost of goods sold amount and, as a result, a lower income amount.10. When prices are rising,LIFO causes a lower taxable income than does FIFO.Therefore, when prices are rising, income tax is less under LIFO than FIFO. A lower tax bill saves cash (reduces cash outflow for income tax). The total amount of cash saved is the difference between LIFO and FIFO inventory amounts multiplied by the income tax rate.11. LCM is applied when market (defined as current replacement cost) is lower thanthe cost of units on hand. The ending inventory is valued at market (lower), which (a) reduces net income and (b) reduces the inventory amount reported on the balance sheet. The effect of applying LCM is to include the holding loss on the income statement (as a part of CGS) in the period in which the replacement cost drops below cost rather than in the period of actual sale.12. When a perpetual inventory system is used, the unit cost must be known for eachitem sold at the date of each sale because at that time two things happen: (a) the units sold and their costs are removed from the perpetual inventory record and the new inventory balance is determined; (b) the cost of goods sold is determined from the perpetual inventory record and an entry in the accounts is made as a debit to Cost of Goods Sold and a credit to Inventory. In contrast, when a periodic inventory system is used the unit cost need not be known at the date of each sale. In fact, the periodic system is designed so that cost of goods sold for each sale is not known at the time of sale. At the end of the period, under the periodic inventory system, cost of goods sold is determined by adding the beginning inventory to the total goods purchased for the period and subtracting from that total the ending inventory amount. The ending inventory amount is determined by means of a physical inventory count of the goods remaining on hand and with the units valued on a unit cost basis in accordance with the cost principle (by applying an appropriate inventory costing method). ANSWERS TO MULTIPLE CHOICE1. c)2. d)3. a)4. a)5. c)6. c)7. a)8. c)9. c) 10. a)Authors' Recommended Solution Time(Time in minutes)* Due to the nature of these cases and projects, it is very difficult to estimate the amount of time students will need to complete the assignment. As with any open-ended project, it is possible for students to devote a large amount of time to these assignments. While students often benefit from the extra effort, we find that some become frustrated by the perceived difficulty of the task. You can reduce student frustration and anxiety by making your expectations clear. For example, when our goal is to sharpen research skills, we devote class time to discussing research strategies. When we want the students to focus on a real accounting issue, we offer suggestions about possible companies or industries.MINI-EXERCISESM7–1.Type of BusinessType of Inventory Merchandising ManufacturingWork in process XFinished goods XMerchandise XRaw materials XM7–2.To record the purchase of 90 new shirts in accordance with the cost principle (perpetual inventory system):Inventory (+A) .............................................................. 2,150Cash ( A) .......................................................... 2,150 Cost: $1,800 + $185 + $165 = $2,150.The $108 interest expense is not a proper cost of the merchandise; it is recorded as prepaid interest expense and later as interest expense.M7–3.(1) Part of inventory (2) Expense as incurreda. Wages of factory workers Xb. Costs of raw materials purchased Xc. Sales salaries Xd. Heat, light, and power for the factory building Xe. Heat, light, and power for the headquartersoffice buildingXComputation: Simply rearrange the basic inventory model (BI + P – EI = CGS): Cost of goods sold ................................................. $11,042 million + Ending inventory .................................................... 2,916 million –Beginning inventory ............................................... (3,213) million Purchases .............................................................. $10,745 millionM7–5.(a) Declining costsHighest net income LIFOHighest inventory LIFO(b) Rising costsHighest net income FIFOHighest inventory FIFOM7–6.LIFO is often selected when costs are rising because it reduces the company’s tax liability which increases cash and benefits shareholders. However, it also reduces reported net income.M7–7.Quantity Cost perItem ReplacementCost per ItemLower of Costor MarketReported onBalance SheetItem A 70 $ 110 $100 $100 70 x $100 = $7,000 Item B 30 60 85 60 30 x $60 = $1,800 Total $8,800 M7–8.+ (a) Parts inventory delivered daily by suppliers instead of weekly.NE (b)Extend payments for inventory purchases from 15 days to 30 days.+ (c) Shorten production process from 10 days to 8 days.Understatement of the 2014 ending inventory by $50,000 caused 2014 pretax income to be understated and 2015 pretax income to be overstated by the same amount. Overstatement of the 2014 ending inventory would have the opposite effect; that is, 2014 pretax income would be overstated by $50,000 and 2015 pretax income understated by $50,000. Total pretax income for the two years combined would be correct.EXERCISESE7–1Item Amount ExplanationEnding inventory (physical count onDecember 31, 2014)$34,500 Per physical inventory.a. Goods purchased and in transit + 700 Goods purchased and in transit,F.O.B. shipping point, are ownedby the purchaser.b. Samples out on trial tocustomer + 1,800 Samples held by a customer ontrial are still owned by the vendor;no sale or transfer of ownershiphas occurred.c. Goods in transit to customer Goods shipped to customers,F.O.B. shipping point, are ownedby the customer becauseownership passed when they weredelivered to the transportationcompany. The inventory correctlyexcluded these items.d. Goods sold and in transit + 1,500 Goods sold and in transit, F.O.B.destination, are owned by the selleruntil they reach destination.Correct inventory, December 31, 2014 $38,500E7–2.(Italics for missing amounts only.)Case A Case B Case CNet sales revenue .......... $7,500 $4,800$5,000 Beginning inventory ........ $11,200 $ 7,000 $ 4,000 Purchases .................. 4,500 8,050 9,500Goods available for sale . 15,700 15,050 13,500Ending inventory ............ 9,000 11,050 9,300Cost of goods sold.......... 6,700 4,000 4,200 Gross profit .................. 800 800 800 Expenses .................. 300 1,000 700 Pretax income ................ $ 500 $ (200) $ 100E7–3.E7–4.Computations:Simply rearrange the cost of goods sold equationBI + P – EI = CGSP = CGS – BI + EICost of goods sold ................................... $1,639,188,000 –Beginning inventory .................................. (385,857,000) + Ending inventory ...................................... 569,818,000 Purchases ................................................ $1,823,149,000E7-5AverageUnits FIFO LIFO Cost Cost of goods sold:Beginning inventory ($5) ............. 2,000 $10,000 $10,000 $10,000 Purchases (March 21) ($6) ......... 5,000 30,000 30,000 30,000 (August 1) ($8) .......... 3,000 24,000 24,000 24,000Goods available for sale .. 10,000 64,000 64,000 64,000 Ending inventory* ....................... 4,000 30,000 22,000 25,600 Cost of goods sold** ........ 6,000 $34,000 $42,000 $38,400 *Ending inventory computations:FIFO: (3,000 units @ $8) + (1,000 units @ $6) = $30,000.LIFO: (2,000 units @ $5) + (2,000 units @ $6) = $22,000.Average: [(2,000 units @ $5) + (5,000 units @ $6) + (3,000 units @ $8)] =$64,000 ÷ 10,000 units = $6.40 per unit.4,000 units @ $6.40 = $25,600.**Cost of goods sold computations:FIFO: (2,000 units @ $5) + (4,000 units @ $6) = $34,000.LIFO: (3,000 units @ $8) + (3,000 units @ $6) = $42,000.Average: [(2,000 units @ $5) + (5,000 units @ $6) + (3,000 units @ $8)] =$64,000 ÷ 10,000 units = $6.40 per unit.6,000 units @ $6.40 = $38,400.E7–6AverageUnits FIFO LIFO Cost Cost of goods sold:Beginning inventory ($5) ............. 2,000 $10,000 $10,000 $10,000 Purchases (March 21) ($4) ......... 6,000 24,000 24,000 24,000 (August 1) ($2) .......... 4,000 8,000 8,000 8,000Goods available for sale .. 12,000 42,000 42,000 42,000 Ending inventory* ....................... 3,000 6,000 14,000 10,500 Cost of goods sold ........... 9,000 $36,000 $28,000 $31,500 *Ending inventory computations:FIFO: (3,000 units @ $2) = $6,000.LIFO: (2,000 units @ $5) + (1,000 units @ $4) = $14,000.Average: [(2,000 units @ $5) + (6,000 units @ $4) + (4,000 units @ $2)] =$42,000 ÷ 12,000 units = $3.50 per unit.3,000 units @ $3.50 = $10,500.**Cost of goods sold computations:FIFO: (2,000 units @ $5) + (6,000 units @ $4) + (1,000 units @ $2) = $36,000.LIFO: (4,000 units @ $2) + (5,000 units @ $4) = $28,000.Average: [(2,000 units @ $5) + (6,000 units @ $4) + (4,000 units @ $2)] =$42,000 ÷ 12,000 units = $3.50 per unit.9,000 units @ $3.50 = $31,500.E7–7.Req. 1BROADHEAD COMPANYIncome StatementFor the Year Ended December 31, 2015Case A Case BFIFO LIFOSales revenue1 .............................. $500,000 $500,000 Cost of goods sold:Beginning inventory ................ $ 27,000 $ 27,000Purchases .............................. 195,000 195,000Goods available for sale2 222,000 222,000 Ending inventory3 .................. 125,000 87,000Cost of goods sold4......... 97,000 135,000 Gross profit .................................. 403,000 365,000 Expenses .................................. 195,000 195,000 Pretax income ................................ $208,000 $170,000 Computations:(1) Sales: (10,000 units @ $50) = $500,000(2) Goods available for sale (for both cases):Units Unit Cost Total Cost Beginning inventory 3,000 $9 $ 27,000Purchase, April 11, 2015 9,000 10 90,000Purchase, June 1, 2015 7,000 15 105,000 Goods available for sale 19,000 $222,000 (3) Ending inventory (19,000 available – 10,000 units sold = 9,000 units):Case A FIFO:(7,000 units @ $15 = $105,000) +(2,000 units @ $10 = $20,000) = $125,000.Case B LIFO:(3,000 units @ $9 = $27,000)+(6,000 units @ $10 = $60,000) = $87,000.E7–7. (continued)Req. 1 (continued)(4) Cost of goods sold (10,000 units sold):Case A FIFO:(3,000 units @ $9 = $27,000) +(7,000 units @ $10 = $70,000) = $97,000Case B LIFO:(7,000 units @ $15 = $105,000) +(3,000 units @ $10 = $30,000) = $135,000Req. 2Comparison of AmountsCase A Case BFIFO LIFOPretax Income $208,000 $170,000Difference $38,000Ending Inventory 125,000 87,000Difference 38,000The above tabulation demonstrates that the pretax income difference between the two cases is exactly the same as the inventory difference. Differences in inventory have a dollar-for-dollar effect on pretax income.Req. 3LIFO may be preferred for income tax purposes because it reports less taxable income (when prices are rising) and hence (a) reduces income tax and (b) as a result reduces cash outflows for the period.E7–8.Req. 1BECK INC.Income StatementFor the Year Ended December 31, 2015Case A Case BFIFO LIFOSales revenue1 .............................. $704,000 $704,000 Cost of goods sold:Beginning inventory ................ $ 35,000 $ 35,000Purchases .............................. 281,000 281,000Goods available for sale2 316,000 316,000 Ending inventory3 .................. 128,000 80,000Cost of goods sold4......... 188,000 236,000 Gross profit .................................. 516,000 468,000 Expenses .................................. 500,000 500,000 Pretax income ................................ $16,000 $(32,000) Computations:(1) Sales: (8,000 units @ $28) + (16,000 units @ $30) = $704,000(2) Goods available for sale (for both cases):Units Unit Cost Total Cost Beginning inventory 7,000 $5 $ 35,000Purchase, March 5, 2015 19,000 9 171,000Purchase, September 19, 2015 10,000 11 110,000 Goods available for sale 36,000 $316,000 (3) Ending inventory (36,000 available – 24,000 units sold = 12,000 units):Case A FIFO:(10,000 units @ $11 = $110,000) +(2,000 units @ $9 = $18,000) = $128,000.Case B LIFO:(7,000 units @ $5 = $35,000)+(5,000 units @ $9 = $45,000) = $80,000.E7–8. (continued)Req. 1 (continued)(4) Cost of goods sold (24,000 units sold):Case A FIFO:(7,000 units @ $5 = $35,000) +(17,000 units @ $9 = $153,000) = $188,000Case B LIFO:(10,000 units @ $11 = $110,000) +(14,000 units @ $9 = $126,000) = $236,000Req. 2Comparison of AmountsCase A Case BFIFO LIFOPretax Income $16,000 $(32,000)Difference $48,000Ending Inventory 128,000 80,000Difference 48,000The above tabulation demonstrates that the pretax income difference between the two cases is exactly the same as the inventory difference. Differences in inventory have a dollar-for-dollar effect on pretax income.Req. 3LIFO may be preferred for income tax purposes because it reports less taxable income (when prices are rising) and hence (a) reduces income tax and (b) as a result reduces cash outflows for the period.E7–9.Req. 1AverageUnits FIFO LIFO Cost Cost of goods sold:Beginning inventory .................... 2,000 $ 76,000 $ 76,000 $ 76,000Purchases................................... 8,000 320,000 320,000 320,000 Goods available for sale .. 10,000 396,000 396,000 396,000 Ending inventory* ....................... 1,800 72,000 68,400 71,280 Cost of goods sold** ........ 8,200 $324,000 $327,600 $324,720Average Income statement FIFO LIFO Cost Sales revenue ....................................... $615,000 $615,000 $615,000 Cost of goods sold................................. 324,000 327,600 324,720 Gross profit ......................................... 291,000 287,400 290,280 Expenses ......................................... 194,500 194,500 194,500 Pretax income ....................................... 96,500 92,900 95,780 Income tax expense (30%) ......... 28,950 27,870 28,734 Net income ......................................... $ 67,550 $ 65,030 $ 67,046*Ending inventory computations:FIFO: 1,800 units @ $40 = $72,000.LIFO: 1,800 units @ $38 = $68,400.Average: [(2,000 units @ $38) + (8,000 units @ $40)] ÷ 10,000 units =$396,000 ÷ 10,000 units = $39.60 per unit.$39.60 x 1,800 units = $71,280.**Cost of goods sold computations:FIFO: (2,000 units @ $38) + (6,200 units @ $40) = $324,000.LIFO: (8,000 units @ $40) + (200 units @ $38) = $327,600.Average: [(8,000 units @ $38) + (8,000 units @ $40)] =$396,000 ÷ 10,000 units = $39.60 per unit.8,200 units @ $39.60 = $324,720.Req. 2FIFO produces a more favorable (higher) net income because when prices are rising it gives a lower cost of goods sold amount. FIFO allocates the old (lower) unit costs to cost of goods sold.LIFO produces a more favorable cash flow than FIFO because, when prices are rising, it produces a higher cost of goods sold amount and lower taxable income and, therefore, lower income tax expense for the period. Cash outflow is less under LIFO by the amount of income tax reduction. LIFO causes these comparative effects because it allocates the new (higher) unit costs to cost of goods sold.E7–9. (continued)Req. 3When prices are falling, the opposite effect occurs–LIFO produces higher net income and less favorable cash flow than does FIFO.E7–10.Req. 1AverageFIFO LIFO Cost Cost of goods sold:Beginning inventory (400 units @ $28) ... $11,200 $11,200 $11,200 Purchases (475 units @ $35) ................. 16,625 16,625 16,625 Goods available for sale ......................... 27,825 27,825 27,825 Ending inventory (525 units)*.................. 18,025 15,575 16,695 Cost of goods sold (350 units)** ............. $ 9,800 $12,250 $ 11,130 *Computation of ending inventory:FIFO: (475 units x $35) + (50 units x $28) = $18,025LIFO: (400 units x $28) + (125 units x $35) = $15,575Average: [(400 units @ $28) + (475 units @ $35)] ÷ 875 units =$27,825 ÷ 875 units = $31.80 per unit.$31.80 x 525 units = $16,695.**Cost of goods sold computations:FIFO: (350 units @ $28) = $9,800.LIFO: (350 units @ $35) = $12,250.Average: [(400 units @ $28) + (475 units @ $35)] ÷ 875 units =$27,825 ÷ 875 units = $31.80 per unit.$31.80 x 350 units = $11,130.Req. 2AverageFIFO LIFO Cost Sales revenue ($50 x 350) ............................... $17,500 $17,500 $17,500 Cost of goods sold............................................. 9,800 12,250 11,130 Gross profit ..................................................... 7,700 5,250 6,370 Expenses ..................................................... 1,700 1,700 1,700 Pretax income ................................................... $ 6,000 $ 3,550 $ 4,670E7–10. (continued)Req. 3Ranking in order of favorable cash flow: The higher rankings are given to the methods that produce the lower income tax expense because the lower the income tax expense the higher the cash savings.(1) LIFO–produces the lowest pretax income, hence the lowest amount of cash to bepaid for income tax.(2) Weighted average–produces next lower pretax income.(3) FIFO–produces the highest pretax income and as a result the highest income tax.This result causes the lowest cash savings on income tax.The above comparative effects occurred because prices were rising. If prices were falling the three methods would have produced the opposite ranking.E7–11.Inventory valuation that should be used (LCM) $6,980E7–12.Req. 1Inventory valuation that should be used (LCM) $4,875 Req. 2The write-down to lower of cost or market will increase cost of goods sold expense by the amount of the write-down, $150:Total Cost - LCM Valuation = Write-down$5,025 - $4,875 = $150 Write-downReq. 1Inventory turnover = Cost of Goods Sold = $48,260 35.68Average Inventory ($1,301+$1,404)/2Average days to sell inventory = 365 / inventory turnover = 365 / 35.68 = 10.2 days Req. 2The inventory turnover ratio reflects how many times average inventory was produced and sold during the period. Thus, Dell produced and sold its average inventory nearly 36 times during the year.The average days to sell inventory indicates the average time it takes the company to produce and deliver inventory to customers. Thus, Dell takes an average of about 10.2 days to produce and deliver its computer inventory to its customers.CASE A – FIFO:Goods available for sale for FIFO:Units (19 + 25 + 50) (94)Amount ($304 + 325 + 950) ......................................... $1,579Ending inventory: 94 units – 65 units = 29.Ending inventory (29 units x $19) ................................ $ 551Cost of goods sold: [(19 units @ $16) +(25 units @ $13)+ (21 units @ $19)] .................... $1,028Inventory turnover = Cost of Goods Sold = $1,028 = 2.40Average Inventory ($304+$551)/2CASE B – LIFO:Goods available for sale for LIFO:Units (19 + 25 + 50) (94)Amount ($228 + 325 + 950) ......................................... $1,503Ending inventory: 94 units – 65 units = 29.Ending inventory (19 units x $12) + (10 units x $13) ... $ 358Cost of goods sold [(50 units @ $19) +(15 units @ $13)] $1,145Inventory turnover = Cost of Goods Sold = $1,145 = 3.91Average Inventory ($228+$358)/2The FIFO inventory turnover ratio is normally thought to be a more accurate indicator when prices are changing because LIFO can include very old inventory prices in ending inventory balances.Req. 1 The reported ending inventory for Ford was $5,901 million. If FIFO were used exclusively, the ending inventory would have been $928 million higher than reported, or $6,829 million.Req. 2 The restated cost of goods sold amount must reflect the restatement of both beginning and ending inventory:Beginning inventory ............................................... $865 millionLess: Ending inventory .......................................... 928 millionImpact on COGS ................................................... ($ 63 million)If FIFO had been used exclusively, cost of goods sold would have been $113,345 - $63 = $113,282 million. In this case, FIFO cost of goods sold is less than LIFO cost of goods sold. This is likely the result of increasing prices.Req. 3 When costs are rising, LIFO normally produces lower net income before taxes and lower current tax payments.Req. 1 Net Income for 2014 will be Overstated. An understatement of purchases produces an understatement of cost of goods sold which produces an overstatement of the current period’s income.BI + P - EI = CGSUnderstate UnderstateReq. 2 Net Income for 2015 will be Understated. An overstatement of purchases produces an overstatement of cost of goods sold which produces an understatement of the current period’s income.BI + P - EI = CGSOverstate OverstateReq. 3 Retained Earnings for December 31, 2014, will be Overstated because of the overstatement of Net Income for 2014.Req. 4 Retained Earnings for December 31, 2015, will be Correct because the overstatement of Net Income for 2014 and understatement of Net Income for 2015 will offset one another.Req. 1When the ending inventory is overstated, cost of goods sold is understated which in turn results in an overstatement of net income. Gibson’s income from operations should be reduced by $8,806,000 and tax expense should be reduced by $3,460,758 (i.e., $8,806,000 x 0.393). Therefore, net income should be:As reported: ........................................................ $25,852,000Increase in cost of goods sold ............................ (8,806,000)Reduction in tax expense ................................... 3,460,758Corrected income ............................................... $20,506,758Req. 2The incorrect accounts can be summarized as follows:(a) Year of (b) SubsequentAccount Error YearBeginning inventory correct overstatedCost of goods sold understated overstatedEnding inventory overstated correctIncome tax expense overstated understatedNet income overstated understatedRetained earnings overstated correctTaxes payable* overstated understated*The income tax payable for each year is incorrect by the same amount; therefore the total income tax paid was correct.。

财务会计学课后习题参考答案与解析(1_13章)

复习资料第一章财务会计基本理论（参考答案略）第二章货币资金与应收项目知识题和能力题（答案要点及解题思路可参见教材内容）：略技能题：1、（1）借：库存现金 5 000贷：银行存款 5 000（2）借：管理费用—办公费 300贷：库存现金 300（3）借：其它应收款—张地 2 000贷：库存现金 2 000（4）借：库存现金 60 000贷：银行存款 60 000（5）借：应付职工薪酬—洪某 500贷：库存现金 500（6）借：银行存款 1 170贷：主营业务收入 1 000应交税费—应交增值税（销项税额）170（7）借：应付职工薪酬 60 000贷：库存现金 60 000（8）借：其它应收款—后勤部门 6 000贷：库存现金 6 000（9）借：银行存款 46 800贷：应收账款—雨的公司 46 800（10）借：管理费用—差旅费 2 200贷：其它应收款—张地 2 000库存现金 200（11）借：应付账款—飞天公司 117 000贷：银行存款 117 000（12）借：原材料—甲材料 50 500应交税费—应交增值税（进项税额）8 500贷：银行存款 59 000 （13）借：应收账款 234 000 贷：主营业务收入 200 000 应交税费—应交增值税（销项税额） 34 000 （14）借：管理费用—保管费 5 000贷：库存现金 5 0002、3、（1）收到票据时：借：应收票据—丙公司 234 000贷：主营业务收入 200 000应交税费—应交增值税（销项税额） 34 000 （2）年终计提利息利息收入=234 000×10%÷12×6＝5 850借：应收票据 5 850贷：财务费用 5 850（3）到期收回票据借：银行存款 245 700贷：应收票据 239 850财务费用 5 8504、（1）收到票据时：借：应收票据—甲公司 117 000贷：主营业务收入 100 000应交税费—应交增值税（销项税额） 17 000 （2）办妥贴息手续时：票据到期值=117 000（1+10%÷12×6）＝122 850贴息利息=122 850×12%÷12×4=4 914贴息所得=122 850-4 914=117 936借：银行存款 117 936贷：应收票据 117 000财务费用 9365、（1）第一年应提坏账准备=1 000 000×1%=10 000借：资产减值损失—计提坏账准备 10 000贷：坏账准备 10 000 （2）第二年发生坏账：借：坏账准备 50 000贷：应收账款 50 000年终计提坏账准备前坏账准备余额=10 000-50 000=-40 000年终坏账准备余额应为=1 200 000×1%=12 000应补提坏账准备=12 000-（-40 000）=52 000借：资产减值损失—计提坏账准备 52 000贷：坏账准备 52 000 （3）第三年发生坏账：借：坏账准备 40 000贷：应收账款 40 000又收回坏账：借：应收账款 20 000贷：坏账准备 20 000同时，借：银行存款 20 000贷：应收账款 20 000年终计提坏账准备前坏账准备余额=12 000-40 000+20 000=-8 000 年终坏账准备余额应为=900 000×1%=9 000应补提坏账准备=9 000-（-8 000）=17 000借：资产减值损失—计提坏账准备 17 000贷：坏账准备 17 0006、（1）伊人公司（总价法）：10月1日借：应收账款—乙公司 58 500贷：主营业务收入 50 000 应交税费—应交增值税（销项税额） 8 500 若乙公司10月9日还款：借：银行存款 57 500财务费用 1 000贷：应收账款—乙公司 58 500若乙公司10月19日还款：借：银行存款 58 000财务费用 500贷：应收账款—乙公司 58 500若乙公司10月29日还款：借：银行存款 58 500贷：应收账款—乙公司 58 500（2）伊人公司（净价法）：10月1日借：应收账款—乙公司 57 500贷：主营业务收入 49 000 应交税费—应交增值税（销项税额） 8 500 若乙公司10月9日还款：借：银行存款 57 500贷：应收账款—乙公司 57 500若乙公司10月19日还款：借：银行存款 58 000贷：应收账款—乙公司 57 500财务费用 500若乙公司10月29日还款：借：银行存款 58 500贷：应收账款—乙公司 57 500财务费用 1 000（3）乙公司（总价法）：10月1日借：在途物资 50 000 应交税费—应交增值税（进项税额） 8 500贷：应付账款—乙公司 58 500 若乙公司10月9日还款：借：应付账款—乙公司 58 500贷：银行存款 57 500财务费用 1 000若乙公司10月19日还款：借：应付账款—乙公司 58 500贷：银行存款 58 000财务费用 500若乙公司10月29日还款：借：应付账款—乙公司 58 500贷：银行存款 58 500（4）乙公司（净价法）：10月1日借：在途物资 49 000应交税费—应交增值税（进项税额） 8 500贷：应付账款—乙公司 57 500 若乙公司10月9日还款：借：应付账款—乙公司 57 500贷：银行存款 57 500若乙公司10月19日还款：借：应付账款—乙公司 57 500贷：银行存款 57 000财务费用 500若乙公司10月29日还款：借：应付账款—乙公司 57 500财务费用 1 000贷：银行存款 58 500第三章存货知识题和能力题（答案要点及解题思路可参见教材内容）：略技能题：1、借：在途物资 201 000应交税费—应交增值税（进项税额） 34 000贷：银行存款 235 0002、（1）月末估价入账：借：原材料 100 000贷：应付账款 100 000（2）次月初红字冲回借：原材料100 000贷：应付账款100 000（3）次月6日借：原材料 102 000应交税费—应交增值税（进项税额） 17 000贷：银行存款 119 0003、（1）8日，借：预付账款—丁公司 60 000贷：银行存款 60 000（2）20日，借：原材料 81 500应交税费—应交增值税（进项税额） 13 600贷：预付账款—丁公司 95 100 同时，借：预付账款—丁公司 35 100贷：银行存款 35 100或者合并做以下处理：借：原材料 81 500应交税费—应交增值税（进项税额） 13 600贷：预付账款—丁公司 60 000银行存款 35 1004、（1）总价法购入材料时：借：在途物资 100 000应交税费—应交增值税（进项税额） 17 000贷：应付账款—乙公司 117 000 若在10天内付款：借：应付账款—乙公司 117 000贷：银行存款 115 000财务费用 2 000若超过10天付款：借：应付账款—乙公司 117 000贷：银行存款 117 000（2）净价法购入材料时：借：在途物资 98 000 应交税费—应交增值税（进项税额） 17 000贷：应付账款—乙公司 115 000 若在10天内付款：借：应付账款—乙公司 115 000贷：银行存款 115 000若超过10天付款：借：应付账款—乙公司 115 000财务费用 2 000贷：银行存款 117 0005、（1）拨付原材料时，借：委托加工物资 60 000贷：原材料 60 000（2）支付加工费时，借：委托加工物资 20 000贷：银行存款 20 000（3）支付税金时，借：应交税费—应交增值税（进项税额） 3 400—应交消费税 8 000贷：银行存款 11 400（4）收回加工物资时，借：原材料—A材料 80 000贷：委托加工物资 80 0006、（1）10日进货时，借：材料采购 102 000应交税费—应交增值税（进项税额） 17 000贷：银行存款 119 000 （2）10月2日材料入库：借：原材料 100 000贷：材料采购 100 000同时，借：材料成本差异 2 000贷：材料采购 2 000或者合并做以下会计处理：借：原材料 100 000材料成本差异 2 000贷：材料采购 102 000（3）10月20日进货：借：材料采购 205 000应交税费—应交增值税（进项税额） 34 000贷：应付票据 200 000应付账款 39 000（4）10月22日第二批材料入库：借：原材料 220 000贷：材料采购 220 000同时，借：材料采购 15 000贷：材料成本差异 15 000或者合并做以下会计处理：借：原材料 220 000贷：材料采购 205 000材料成本差异 15 0007、（1）购入存货：借：在途物资 2 000 000应交税费—应交增值税（进项税额） 340 000贷：银行存款等 2 340 000借：库存商品 2 600 000贷：在途物资 2 000 000商品进销差价 600 000（2）销售时，借：银行存款等 3 276 000贷：主营业务收入 2 800 000应交税费—应交增值税（销项税额） 476 000（3）结转成本借：主营业务成本 2 800 000贷：库存商品 2 800 000（4）结转已销商品进销差价进销差价率=（400 000+600 000）÷（800 000+2 600 000）=29.4%已销商品进销差价=2 800 000×29.4%=823 200已销商品成本=2 800 000-823 200=1 976 800借：商品进销差价 823 200贷：主营业务成本 823 2008、（1）2010年借：资产减值损失—计提存货跌价准备 200 000贷：存货跌价准备 200 000（2）2011年借：资产减值损失—计提存货跌价准备 100 000（1 800 000-1 700 000）贷：存货跌价准备 100 000（3）2012年借：存货跌价准备 240 000（1 940 000-1 700 000）贷：资产减值损失—计提存货跌价准备 240 000（4）2013年借：存货跌价准备 60 000（2 000 000-1 940 000）贷：资产减值损失—计提存货跌价准备 60 000第四章金融资产知识题（答案要点可参见教材内容）：略技能题：1、（1）2×11年 5 月 10 日借：交易性金融资产——成本600应收股利 20投资收益 6贷：银行存款 6262×11年5 月 30 日借：银行存款20贷：应收股利 202×11 年 6 月 30 日借：交易性金融资产——公允价值变动40贷：公允价值变动损益 402×11年 8 月 10 日借：应收股利 40贷：投资收益 402×11年 8 月 20 日借：银行存款40贷：应收股利 402×11年12 月 31 日借：交易性金融资产——公允价值变动80贷：公允价值变动损益 802×12年 1 月 3 日借：银行存款630投资收益 90贷：交易性金融资产——成本 600——公允价值变动 120同时：借：公允价值变动损益 120贷：投资收益 120（2）累计损益=120+40-6-90=642、应收利息=面值×票面利率投资收益=债券期初摊余成本×实际利率“持有至到期投资—利息调整”即为“应收利息”和“投资收益”的差额。

会计学原理FinancialAccountingbyRobertLibby第八版第十章答案

会计学原理FinancialAccountingbyRobertLibby第⼋版第⼗章答案Chapter 10Reporting and Interpreting BondsANSWERS TO QUESTIONS1. A bond is a liability that may or may not be secured by a mortgage on specifiedassets. Bonds usually are in denominations of $1,000 or $10,000, are transferable by endorsement, and may be bought and sold daily by investors. A bond specifiesa maturity date and rate of interest that will be paid on the principal amount. Bondsusually are issued to obtain cash for long-term asset acquisitions (operational assets) and expansion of the entity.2. A bond indenture is an agreement drawn up by a company planning to sell a bondissue. The indenture specifies the legal provisions of the bond issue such as maturity date, rate of interest, date of interest payments, and any conversion privileges. When a bond is sold, an investor receives a bond certificate (i.e., a bond). All of the bond certificates for a single bond issue are identical in most respects. That is, each certificate states the same maturity date, interest rate, interest dates, and other provisions of the bond issue.3. Secured bonds are supported by a mortgage or pledge of specific assets as aguarantee of payment. Secured bonds are designated on the basis of the type of asset pledged, such as real estate mortgage bonds and equipment trust bonds.Unsecured bonds are not supported by a mortgage or pledge of specific assets asa guarantee of payment at maturity date. Unsecured bonds usually are calleddebentures.4. Callable bonds—bonds that may be called for early retirement at the option of theissuer.Convertible bonds—bonds that may be converted to other securities of the issuer (usually common stock) after a specified future date at the option of the bondholder.5. Several important advantages of bonds compared with capital stock benefit theissuer. The issuance of bonds establishes a fixed amount of liability and a fixed rate of interest on the bond, and interest payments to the bondholders are deductible on the income tax return of the issuer. This deduction for tax purposes reduces the net cost of borrowing. For example, a corporation with a 40% average tax rate and bonds payable with a 10% interest rate would incur a net interest rate of 10% x 60% = 6%.6. The higher the tax rate is, the lower the net cost of borrowing money because theinterest paid on borrowed money is deductible on the income tax return of the borrower. The higher the income tax rate the less the net cost of interest for the borrower. For example, a corporation with an average tax rate of 40% and debt with 10% interest per annum incurs a net interest rate of 10% x 60% = 6%. In contrast, the same corporation with a 20% average tax rate incurs a net interest rate of 10% x 80% = 8%.7. At the date of issuance, bonds are recorded at their current cash equivalent amount;that is, the amount of cash received for the bonds when issued. The recording is in conformity with the cost principle.8. When a bond is issued (sold) at its face amount, it is issued at par. In contrast,when a bond is sold at an amount lower than the par amount, it is issued at a discount, and conversely, when it is sold at a price above par, it is issued at a premium. A bond will sell at a discount when the market, or effective, rate of interest is higher than the stated rate of interest on the bond. In contrast, when the market or effective rate of interest is lower than the statedrate, the bond will sell ata premium. Discounts or premiums on bonds payable are adjustments to theeffective interest rate on the bonds. Therefore, the discount or premium is amortized over the life of the bonds as an increase or decrease in the amount of interest expense for each period.9. The stated rate of interest is the rate specified on a bond, whereas the effectiverate of interest is the market rate at which the bonds are selling currently.10. When a bond is sold at par, the stated interest rate and the effective or marketinterest rate are identical. When a bond is sold at a discount, the stated rate of interest is lower than the effective rate of interest on the bond. In contrast, when a bond is sold at a premium, the stated rate of interest is higher than the effective rate of interest.11. A bond issued at par will have a book or carrying value, or net liability, equal to thepar or principal of the bond. This amount should be reported as the carrying value on each balance sheet date. When a bond is sold at a premium or discount, the premium or discount must be amortized over the outstanding life of the bond. When there is bond discount or premium, the par amount of the bond less the unamortized discount, or plus the unamortized premium, must be reported on the balance sheet as the net liability as follows:Bonds payable ...................................... $100,000 $100,000Less: Unamortized discount .................. 12,000Plus: Unamortized premium .................. 12,000Book value (net liability) ........................ $ 88,000 $112,00012. The basic difference between straight-line amortization and effective-interestamortization of bond discount and premium is that, under straight-line amortization, an equal amount of premium or discount is amortized to interest expense each period. Straight-line amortization per interest period is computed by dividing the total amount of the premium or discount by the number of periods the bonds will be outstanding. Under effective-interest amortization, the amount of premium or discount amortized is different each period. Effective-interest amortization of bond premium and discount correctly measures the current cash equivalent amount of the bonds and the interest expense reported on the income statement based on the issuance entry. It measures the amount of amortization by relating the market (yield) rate to the net liability at the beginning of each period. For this reason interest expense and the bond carrying value are measured on a present value basis. The straight-line method can be used only when the results are not materially different from the results of the effective-interest method.ANSWERS TO MULTIPLE CHOICE1. c)2. c)3. b)4. d)5. c)6. b)7. c)8. c)9. a) 10. c)Authors’ Recommended Solution Time(Time in minutes)* Due to the nature of this project, it is very difficult to estimate the amount of time students will need to complete the assignment. As with any open-ended project, it is possible for students to devote a large amount of time to these assignments. While students often benefit from the extra effort, we find that some become frustrated by the perceived difficulty of the task. You can reduce student frustration and anxiety by making your expectations clear. For example, when our goal is to sharpen research skills, we devote class time to discussing research strategies. When we want the students to focus on a real accounting issue, we offer suggestions about possible companies or industries.MINI-EXERCISESM10–1. 1. Balance Sheet2. Income Statement3. Statement of Cash Flows4. May be in notes5. Not at all6. May be in notesM10–2.Principal $600,000 ? 0.4564 = $273,840Interest $ 24,000 ?13.5903 = 326,167Issue Price = $600,007* *Issue price should be exactly $600,000. The $7 difference is the result ofrounding the present value factors at four digits.M10–3.Principal $900,000 ? 0.4350 = $391,500Interest $ 27,000?13.2944 = 358,949Issue Price = $750,449M10–4.January 1, 2014:Cash (+A) .............................................................................. 940,000Discount on Bonds Payable (+XL, -L) ................................... 60,000Bonds Payable (+L) .......................................................... 1,000,000 June 30, 2014:Interest Expense (+E, -SE) ($940,000 ? 11%? 1/2) ............. 51,700Discount on Bonds Payable (-XL, +L) ............................... 1,700 Cash (-A) ($1,000,000 ? 10%? 1/2) ................................. 50,000 M10–5.January 1, 2014:Cash (+A) .............................................................................. 580,000Discount on Bonds Payable (+XL, -L) ................................... 20,000Bonds Payable (+L) ........................................................... 600,000 June 30, 2014:Interest Expense (+E, -SE) ................................................... 31,000Discount on Bonds Payable (-XL, +L) ............................... 1,000 Cash (-A) ........................................................................... 30,000 M10–6.Principal $500,000 ? 0.4564 = $228,200Interest $ 25,000 ?13.5903 = 339,758Issue Price = $567,958M10–7.January 1, 2014:Cash (+A) .............................................................................. 620,000Premium on Bonds Payable (+L) ...................................... 20,000 Bonds Payable (+L) ..........................................................600,000 December 31, 2014:Interest Expense (+E, -SE) ................................................... 52,000Premium on Bonds Payable (-L) ........................................... 2,000Cash (-A) ........................................................................... 54,000 M10–8January 1, 2014:Cash (+A) .............................................................................. 910,000Premium on Bonds Payable (+L) ...................................... 60,000 Bonds Payable (+L) ..........................................................850,000 December 31, 2014:Interest Expense (+E, -SE) ($910,000 ? 7%) ........................ 63,700Premium on Bonds Payable (-L) ........................................... 4,300Cash (-A) ($850,000 ? 8%) ................................................ 68,000M10–9.The debt-to-equity ratio and times interest earned ratio are both measures of therisk associated with using debt in the capital structure of a company. A companycould have a high debt-to-equity ratio with relatively little risk if it generated a high level of stable earnings. On the other hand,a company with a lowdebt-to-equityratio might be risky if it was unable to earn any profits. For this reason, mostanalysts look to the times interest earned ratio as a measure of a company’sability to meet its required interest payments.M10–10.If the interest rates fall after the issuance of a bond, the bond’s price will increase.The company will report a loss on the debt retirement. On the balance sheet,cash and bonds payable will decrease. On the income statement, a loss wouldbe recorded.M10–11.When a company issues a bond at a discount, the interest expense each periodwill be more than the cash payment for the interest. When a company issues abond at a premium, the interest expense will be less than the cash payment forthe interest. Neither is affected by the method used to amortize the discount orpremium.M10–12.Cash paid to retire a bond would be reported in the financing activities section ofthe Statement of Cash Flows while cash paid for interest payments would bereported in the operating activities section.EXERCISESE10–1.1. Bond principal, par value, or face value2. Par value or face value3. Face value or par value4. Stated rate, coupon rate, or contract rate5. Debenture6. Callable bonds7. Convertible bondsE10–2.The AT&T bonds have a coupon interest rate of 6.5%. If bonds with a $10,000 face value were purchased, the issue price would be $8,950 and they would provide a cash yield of 7.3%. A decline in value after issuance would have no impact on AT&T’s financial statements.E10–3.CASE A:$100,000 x 0.5835 ........................................................ $ 58,350$8,000 x 5.2064 ............................................................ 41,651Issue price (market and stated rate same) ................... $100,001 (at par; $1rounding error) CASE B:$100,000 x 0.6651 ........................................................ $ 66,510$8,000 x 5.5824 ............................................................ 44,659Issue price (market rate less than stated rate) .............. $111,169 (at a premium) CASE C:$100,000 x 0.5470 ........................................................ $ 54,700$8,000 x 5.0330 ............................................................ 40,264Issue price (market rate more than stated rate) ............ $ 94,964 (at a discount)E10–4.CASE A:$500,000 x 0.6730 ........................................................ $ 336,500$15,000 x 16.3514 ........................................................ 245,271Issue price (market rate less than stated rate) .............. $581,771 (at a premium)CASE B:$500,000 x 0.5537 ........................................................ $ 276,850$15,000 x 14.8775 ........................................................ 223,163Issue price (market rate and stated rate same) ............ $500,013 (at par, $13 CASE C: r ounding error) $500,000 x 0.4350 ........................................................ $ 217,500$15,000 x 13.2944 ........................................................ 199,416Issue price (market rate more than stated rate) ............ $ 416,916 (at a discount)E10–5.Applied Technologies’ ratios look better than Innovative Solutions’ ratios.Applied Technologies has a lower debt-to-equity ratio than Innovative Solutions.This means that they have less debt in their capital structure, and therefore, are a less leveraged company and have less risk than Innovative Solutions. AppliedTechnologies’ times interest earned ratio is higher than the ratio for InnovativeSolutions. This also makes Applied Technologies a less risky company thanInnovative Solutions because Applied Technologies generates a larger amount of income compared to its obligatory payments to creditors than InnovativeSolutions.E10–6.Computations:Interest:$250,000 x 6% x 1/2 = $7,500Present value:$250,000 x 0.6756 = 168,900$ 7,500 x 8.1109 = 60,832Issue price $229,732E10–7.Computations:Interest:$750,000 x 8% = $ 60,000Present value:$750,000 x 0.4224 = 316,800$ 60,000 x 6.4177 = 385,062Issue price $701,862Req. 1January 1:Cash (+A) .............................................................................. 701,862Discount on Bonds Payable (+XL, -L) ................................... 48,138Bonds Payable (+L) ........................................................... 750,000 Req. 2December 31:Interest Expense (+E, -SE) ................................................... 64,814Discount on Bonds Payable (-XL, +L) ............................... 4,814 Cash (-A) ........................................................................... 60,000 Req. 3December 31, 2014:Income statement:Interest expense $ 64,814Balance sheet:Long-term LiabilitiesBonds payable $750,000Less: Unamortized discount ($48,138 - $4,814) 43,324 $706,676E10–8.Computations:Interest:$600,000 x 7.5% x 1/2 = $ 22,500Present value:$600,000 x 0.7168 = 430,080$ 22,500 x 6.6638 = 149,936Issue price $580,016Req. 1January 1:Cash (+A) .............................................................................. 580,016Discount on Bonds Payable (+XL, -L) ................................... 19,984Bonds Payable (+L) ........................................................... 600,000 Req. 2June 30:Interest Expense* (+E, -SE) ................................................. 24,651Discount on Bonds Payable (-XL, +L) ............................... 2,151 Cash (-A) ........................................................................... 22,500 *($580,016 x 8.5% x ?)Req. 3June 30, 2014:Income statement:Interest expense $ 24,651Balance sheet:Long-term LiabilitiesBonds payable $600,000Less: Unamortized discount ($19,984 – $2,151) 17,833 $582,167E10–9.Computations:Interest:$600,000 x 7.5% x 1/2 = $ 22,500Present value:$600,000 x 0.7168 = 430,080$ 22,500 x 6.6638 = 149,936Issue price $580,016Req. 1January 1:Cash (+A) .............................................................................. 580,016Bonds Payable (+L) ........................................................... 580,016 Req. 2June 30:Interest Expense* (+E, -SE) ................................................. 24,651Bonds Payable (+L) ........................................................... 2,151 Cash (-A) ........................................................................... 22,500 *($580,016 x 8.5% x ?)Req. 3June 30, 2014:Income statement:Interest expense $ 24,651Balance sheet:Long-term LiabilitiesBonds payable $582,167E10–10.Req. 1Issue price:1. Par, $500,000 – Carrying value at end of 1 year, $481,100 = $18,900 (unamortized discount for 9 remaining years).2. $18,900 9 years = $2,100 discount amortization per year (straight line).3. $481,100– $2,100 = $279,000 issue price (discount $21,000).Issuance entry:Cash (+A) .............................................................................. 479,000Discount on bonds payable (+XL, -L) .................................... 21,000Bonds payable (+L) ........................................................... 500,000 Req. 2Coupon (stated interest) rate:1. Reported interest expense, $23,100 – Discount amortized, $2,100 = $21,000 (cash interest).2. $21,000 ÷ $500,000 = 4.2% coupon (stated interest) rate.Interest expense:Interest expense (+E, -SE) .................................................... 23,100Discount on bonds payable ($21,000 ÷ 10 years) (-XL, +L) 2,100Cash ($500,000 x 4.2%) (-A) ............................................. 21,000E10–11.1. Issue price: $948. Stated rate, 6%; effective or yield rate, 8% (both were given).2. Discount: $1,000 – $948 = $52.3. $1,000 x 6% = $60.4. 2014, $76; 2015, $77; 2016, $79.5. Balance sheet:2014 $ 9642015 $ 9812016 $1,000 (immediately before retirement)6. Effective-interest amortization was used.E10–11. (continued)7. (a) $1,000 x 6% = $60.(b) $964 x 8% = $77 (rounded).(c) $77 – $60 = $17.(d) $964 + $17 = $981.8. Effective-interest amortization measures the amount of interest expense and netliability for each period on a present value basis. The interest expense and related amortization are based on the actual unpaid balance of the debt and the effective interest rate. Straight-line amortization is an approximation that does not take these factors into consideration. The effective-interest method is conceptuallypreferable but the straight-line method is used widely in practice because ofcomputational simplicity and the materiality concept.E10–12.The effective interest rate for a bond is determined by market forces and not the company. American was able to specify the coupon rate for the bonds whichdetermines the periodic interest payments. It appears that American intended to sell the bonds close to par value which would be achieved by having a coupon rate that was the same as the market rate. The market rate of interest continually changes as the result of such factors as inflation expectations and the level ofbusiness activity. It is virtually impossible to issue a bond at a point when thecoupon rate and the market rate are exactly the same.E10–13.Assuming that both companies offer the same business risk, many people might prefer the bond that had the slightly higher yield which is Walt Disney at 9.5%. If interest rates were to fall significantly, companies might decide to call their bonds and issue new ones at a lower interest rate. In this case, a zero coupon bond offers an extra margin of protection. A zero is sold at a deep discount (say 60% of par). It would be very unusual to see a company call such a bond if it were callable at par.In this case, the PepsiCo bond would be preferred.Many people who are retired desire to have a steady income without engaging in time-consuming transactions. These people would probably not want to buy a zero coupon bond which paid interest only at maturity.E10–14.Computations:Interest:$1,400,000 x 8% x 1/2 = $ 56,000Present value:$1,400,000 x 0.7894 = 1,105,160$ 56,000 x 7.0197 = 393,103Issue price $1,498,263Req. 1January 1:Cash (+A) .............................................................................. 1,498,263Premium on Bonds Payable (+L) ...................................... 98,263 Bonds Payable (+L) ..........................................................1,400,000 Req. 2June 30:Interest Expense (+E, -SE) ................................................... 43,717Premium on Bonds Payable (-L) ........................................... 12,283Cash (-A) ........................................................................... 56,000Req. 3Balance sheet:Long-term LiabilitiesBonds payable $1,400,000Plus: Unamortized premium ($98,263– $12,283) 85,980 $1,485,980Income statement:Interest expense $43,717E10–15.Computations:Interest:$2,000,000 x 5% = $ 100,000Present value:$2,000,000 x 0.4350 = 870,000$ 100,000 x 13.2944 = 1,329,440Issue price $2,199,440Req. 1January 1:Cash (+A) .............................................................................. 2,199,440Premium on Bonds Payable (+L) ...................................... 199,440 Bonds Payable (+L) .......................................................... 2,000,000 Req. 2June 30:Interest Expense (+E, -SE) ($2,199,440 x 4.25%) ............... 93,476Premium on Bonds Payable (-L) ........................................... 6,524Cash (-A) ........................................................................... 100,000 Req. 3Balance sheet:Long-term LiabilitiesBonds payable $2,000,000Plus: Unamortized premium ($199,440 – $6,524) 192,916 $2,192,916Income statement:Interest expense $93,476E10–16.Computations:Interest:$2,000,000 x 5% = $ 100,000Present value:$2,000,000 x 0.4350 = 870,000$ 100,000 x 13.2944 = 1,329,440Issue price $2,199,440Req. 1January 1:Cash (+A) .............................................................................. 2,199,440 Bonds Payable (+L) ........................................................... 2,199,440 Req. 2June 30:Interest Expense (+E, -SE) ($2,199,440 x 4.25%) ............... 93,476 Bonds Payable (-L) ............................................................... 6,524 Cash (-A) ........................................................................... 100,000 Req. 3Balance sheet:Long-term LiabilitiesBonds payable $2,192,916Income statement:Interest expense $93,476E10–17. Req. 1DateCashInterest Interest ExpensePremiumAmortizationNet LiabilityBalance1/1/2014 $10,27812/31/2014 $500 $10,278 x 4% = $411 $89 10,18912/31/2015 500 $10,189 x 4% = $408 92 10,09712/31/2016 500 $10,097 x 4% = $404 96 10,001** $1 rounding errorPresent value computation:Principal: $10,000 x .8890 $ 8,890Interest: 500 x 2.7751 1,388Issue price $10,278Req. 22014 2015 2016 December 31:Interest expense ................... $411 $408 $404Bond liability………………….$10,189 $10,097 $10,000* *Immediately before repayment of principalE10–18.Req. 1Cash is increased on the balance sheet.The statement of cash flows shows an inflow from financing activities. Bonds payable and premium on bonds payable are increased on the balance sheet. The debt-to-equity ratio will be higher. January 1:Cash (+A) .............................................................................. 376,774Premium on bonds payable (+L) ....................................... 76,774 Bonds payable (+L) ........................................................... 300,000 Principal: $300,000 x .7441 .................................................. $223,230Interest: $18,000 x 8.5302 .................................................... 153,544 Issue (sale) price ...................................................... $376,774 E10–18. (continued)Req. 2The interest expense will be increased on the income statement and the cash will be decreased on the balance sheet. The premium on bonds payable will bedecreased on the balance sheet. The debt-to-equity ratio will be decreased and the timesinterestearned ratio will be lower. December 31:Interest expense (+E, -SE) .................................................... 10,323Premium on bonds payable ($76,774 10 periods) (-L) ......... 7,677Cash ($300,000 x 6%) (-A) ................................................ 18,000Req. 3December 31, 2014:Balance Sheet:Long-term LiabilitiesBonds Payable $300,000Add: Unamortized premium ($76,774 - $7,677) 69,097 $369,097。

会计学课后习题

初级会计学(第8版)课后习题参考答案第１章总论案例题参考答案:税务局检查人员得说法有一定道理。

案例回放: 张先生经营得就是一家小商店,平时得个人消费也从小商店取用,且从不记账、税务人员提出她有逃避缴纳税款得嫌疑、案例分析:从案例信息可以得知,张先生就是一名个体工商户。

个体工商户,就是指有经营能力并依照《个体工商户条例》得规定经工商行政管理部门登记,从事工商业经营得自然人或家庭。

个体户得财产责任根据民法通则第２9条规定:个体工商户得债务,个人经营得,以个人财产承担;家庭经营得,以家庭财产承担。

个体工商户一般以缴纳个人所得税得方式完成纳税义务。

个体工商户应按照税务部门得规定设置账簿进行核算。

税务部门对账证健全、核算准确得个体工商户,可以实行查账征收;对生产经营规模小又确无建账能力得个体工商户,税务部门可采用定期定额征收得方式进行征收。

不管当地税务部门对张先生采用哪一种征税方式,都不应该混淆张先生小商店得经营活动与张先生得个人消费、张先生直接将小店得商品取为家用,混淆了个人消费导致得商品减少与小商店正常销售减少得区别,如果将商品得减少(包括售卖减少与张先生个人消费减少)全部作为已销售商品得成本(主营业务成本)得话,势必会降低小商店得利润,从而导致税收得减少。

即使税务部门对其定期定额征收,也会影响到税务部门对其经营规模与能力得判断,影响税收定额得制定。

从会计来瞧,小店虽小,但也就是独立得会计主体。

会计主体为会计核算与报告限定了一个空间范围。

空间范围包含两层意思,一就是要划清单位与单位之间得界限,也就就是说,Ａ企业记录与报告得经济活动只限于A企业发生得,不能把B企业得经济活动算在Ａ企业得头上。

二就是公私要分明,也就就是要划清企业所有者得活动与企业得活动,换句话说,不能将企业所有者个人得开支列入企业得账上。

张先生得做法混淆了小商店得经营业务,即小商店商品得减少应该就是销售得结果而不就是张先生个人消费得结果,且张先生从来不记账。

财务管理学第8版习题答案

财务管理学第8版习题答案《财务管理学第 8 版习题答案》在学习财务管理学的过程中，完成习题是巩固知识、检验理解程度的重要环节。

而获取准确的习题答案，对于深入掌握财务管理的原理和方法更是至关重要。

以下将为您详细呈现财务管理学第 8 版的习题答案。

首先，让我们来看一些关于货币时间价值的习题。

货币时间价值是财务管理中的一个基础概念，它强调了资金在不同时间点的价值差异。

例如，有一道习题是这样的：假设年利率为 5%，现在存入 1000 元，那么 5 年后这笔钱的终值是多少？答案是通过复利终值的计算公式：F ＝ P ×（1 ＋r)ⁿ ，其中 F 表示终值，P 表示现值，r 表示年利率，n 表示期数。

将数值代入公式，F ＝ 1000 ×（1 ＋ 005)⁵ ≈ 127628 元。

再来看一道关于风险与收益的习题。

风险和收益的权衡是投资决策中的关键考虑因素。

假如有两种投资方案，方案 A 的预期收益率为 10%，标准差为 8%；方案B 的预期收益率为12%，标准差为10%。

在同等风险厌恶程度下，应该选择哪个方案？答案是需要计算每种方案的变异系数（标准差除以预期收益率）。

方案 A 的变异系数为 08，方案 B 的变异系数为 083。

变异系数越低，表明单位风险所获得的收益越高。

因此，在这种情况下，可能会选择方案 A。

接下来是关于资本预算的习题。

资本预算涉及到企业长期投资项目的决策。

比如，一个项目初始投资 500 万元，预计未来 5 年每年的现金净流量分别为 100 万元、150 万元、200 万元、180 万元和 120 万元，要求计算该项目的内部收益率。

这需要通过试错法或者使用财务计算器来求解，使得项目的净现值等于零的折现率即为内部收益率。

还有关于资本结构的习题。

资本结构的优化是企业财务管理的重要目标之一。

假设一家公司的债务资本成本为 6%，权益资本成本为 12%，负债与权益的比例为 1:1，所得税税率为 25%，计算该公司的加权平均资本成本。

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31,000 (f)
Long-term debt
119,000 (g)
Total liabilities
160,000
Stockholders’ equity:
Paid-in Capital
213,000 (h)
Building Total
230,000 $373,000
Total
(a) Cash: 22,000 – 6,000 – 3,000 = 13,000 (b) Accounts receivable: 10,000 + 6,000 = 16,000 (c) Machinery and equipment: 20,000 + 14,000 = 34,000 (d) Land: 41,000 – 6,000 = 35,000 (e) Accounts payable: 16,000 – 6,000 = 10,000 (f) Notes payable: 20,000 + (14,000 – 3,000) = 31,000 (g) Long-term debt: 142,000 – 23,000 = 119,000 (h) Paid-in capital: 190,000 + 23,000 = 213,000 Note: Event 4 requires no change in the balance sheet.
备注：标注有红色的题号都是可以找到答案的题，其余的习题没答案，没
答案的题可以借阅平时上课做了笔记的同学。希望大家期末都努力复习争取取得好的成绩！加油！O(∩_∩)O
习题答案
Chapter1
1-24
ALBANY CORPORATION
Balance Sheet
March 31,20X1
Liabilities and
Assets
Stockholders' Equity
Cash
$ 6,000(a)
Liabilities:
Accounts receivable
14,000
Accounts payable
$ 11,000 (f)
Notes receivable
2,000
Notes payable
10,000
Merchandise inventory
43,000 (b)
Long-term debt
32,000 (g)
Furnitureand fixtures
2,000 (c)
Total liabilities
53,000
Machineryand equipment
27,000 (d)
Stockholders' equity:
Land
31,000 (e)
课后习题 Chapter1 随堂练习：1—24 1—25 课后练习：1—32 Chapter2 随堂练习：2—35 2—38 课后练习：2—36 Chapte3 随堂练习：3—18 3—21 3—27 3—30 3—31 3—37 3—39 课后练习：3—36 Chapte4 随堂练习：4—28 4—29 4—30 4—35 课后练习：4—42 Chapter5 随堂练习：5—37 5—38 5—39 5—41 课后练习：5—58 Chapter6 随堂练习：6—31 6—53 6—62 课后练习：6—34 6—40 6—54 256 页 problem 1 & 2 （此答案书后有）
6—84 6—86 Chapter7 随堂练习：7—42 7—43 7—58
Hale Waihona Puke 课后练习：7—28 Chapter8 随堂练习：8—33 8—32 课后练习：8—44 Chapter9 随堂练习：9—26 9—28 9—29 9—45 9—57 课后练习：9—49 9—58 Chapter10 ：无 Chapter11 随堂练习：11—52 课后练习：11—43 11—46 11—47 Chapter12 随堂练习：12—27 12—28 课后练习：12—31 12—40 12—41
Paid-in capital
92,000 (h)
Building
20,000
Total
$145,000
Total
$145,000
(a) Cash: 10,000 + 1,000– 5,000= 6,000 (b) Merchandiseinventory: 40,000+ 3,000= 43,000 (c) Furnitureand fixtures: 3,000 – 1,000= 2,000 (d) Machineryand equipment: 15,000 + 12,000= 27,000 (e) Land: 6,000+ 25,000= 31,000 (f) Accountspayable: 8,000+ 3,000 = 11,000 (g) Long-term debt: 12,000+ 20,000= 32,000 (h) Paid-incapital: 80,000 + 12,000 = 92,000 Note: Event5 requires no changein thebalance sheet.
$373,000
Chapter2
(无答案)
Chapter3
3-36 (30-45min.) Answersareinthousandsofdollars.
1.
a. Inventory
Accounts payable
1-25 BROADWAY CORPORATION Balance Sheet November 30,20X1
Liabilities and
Assets Cash Accounts receivable Notes receivable Merchandise inventory Furniture and fixtures Machinery and equip. Land
$ 13,000 (a) 16,000 (b) 8,000 29,000 8,000 34,000 (c) 35,000 (d)
Liabilities and
Stockholders’ Equity
Liabilities:
Accounts payable
$ 10,000 (e)
Notes payable

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