Chapter 1
Problem 1-1A
Left side of equals sign total, $37,101
Problem 1-2A
Cash, $31,399
Problem 1-3A
right side of equals sign total, $31,548
Problem 1-4A
Cash, $17,873
Problem 1-5A
Cash, $67,890
Problem 1-1B
Left side of equals sign total, $29,364
Problem 1-2B
Cash, $54,108
Problem 1-3B
right side of equals sign total, $45,802
Problem 1-4B
Cash, $23,341
Problem 1-5B
Cash, $28,100
Chapter 2
Problem 2-1A
Balance of Cash, $27,450
Problem 2-2A
Trial balance total, $50,840
Problem 2-3A
Net Income, $1,444
Problem 2-4A
Trial balance total, $45,860
Problem 2-1B
Cash balance, $22,750
Problem 2-2B
Trial balance total, $37,899
Problem 2-3B
Net Income, $1,035
Problem 2-4B
K. Resser, Capital, July 31, 20—, $23,399
Chapter 3
Problem 3-1A
Equipment increased by $3,499 in October
Problem 3-2A
Net Income. $11,649
Problem 3-3A
Trial balance total, $62,679
Problem 3-4A
Trial balance total, $49,841
Problem 3-5A
Trial balance total, $31,530
Problem 3-1B
Equipment increased by $1,268 in December
Problem 3-2B
Net Income, $12,261
Problem 3-3B
Trial balance total, $46,028
Problem 3-4B
Trial balance total, $47,991
Problem 3-5B
Trial balance total, $16,780
Chapter 4
Problem 4-1A
Net Income, $228
Problem 4-2A
Net Loss, $2,192
Problem 4-3A
Total Assets, $15,003
Problem 4-4A
Net Income, $7,155
Problem 4-5A
Net Income, $3,142
Problem 4-1B
Net Loss, $12
Problem 4-2B
Net Loss, $9,483
Problem 4-3B
Total Assets, $21,997
Problem 4-4B
Net Income, $5,179
Problem 4-5B
Net Income, $7,070
Chapter 5
Problem 5-1A
Net income, $2,281
Problem 5-2A
Debit to income Summary, second entry, $5,840
Problem 5-3A
Post-closing trial balance total, $10,170
Problem 5-4A
Net income, $13,627
Problem 5-5A
Post-closing trial balance total, $31,765
Problem 5-1B
Net loss, $287
Problem 5-2B
Debit to income Summary, second entry, $4,930
Problem 5-3B
Post-closing trial balance total, $9,147
Problem 5-4B
Net income, $19,567
Problem 5-5B
Post-closing trial balance total, $31,665
Chapter 6
Problem 6-1A
Adjusted ledger balance of cash, $2,970.05
Problem 6-2A
Office Supplies, $11.59
Problem 6-3A
Cash Short and over, July 31, $2.85 cash shortage
Problem 6-4A
Adjusted ledger balance of cash, $1,480
Problem 6-5A
Adjusted ledger balance of cash $2,811.15
Problem 6-1B
Adjusted ledger balance of cash $3,658.22
Problem 6-2B
Office Supplies, $6.50
Problem 6-3B
Cash Short and over, April 3, $0.90 cash shortage
Problem 6-4B
Adjusted ledger balance of cash, $1,831.30
Problem 6-5B
Adjusted ledger balance of cash $1,413.10
Chapter 7
Problem 7-1A
Net pay, $1,093.03
Problem 7-2A
Net amount, $4,284.28
Problem 7-3A
Net amount, $7,437.14
Problem 7-4A
Net amount, $11,800.00
Problem 7-5A
Net pay, $658.15
Problem 7-1B
Net pay, $704.83
Problem 7-2B
Net amount, $3,999.30
Problem 7-3B
Net amount, $8,973.75
Problem 7-4B
Net amount, $10,197.68
Problem 7-5B
Net pay, $962.11
Chapter 8
Problem 8-1A
Payroll Tax Expense, $1,034.35
Problem 8-2A
Payroll Tax Expense, $428.00
Problem 8-3A
Total taxes, $27,036.38
Problem 8-4A
Payroll Tax Expense, $2,270.95
Problem 8-5A
Line 14 Balance due 336.00
Problem 8-1B
Payroll Tax Expense, $1,017.77
Problem 8-2B
Payroll Tax Expense, $484.75
Problem 8-3B
Total taxes, $28,006.39
Problem 8-4B
Payroll Tax Expense, $4,622.15
Problem 8-5B
Line 14 Balance due 110.00
Chapter 9
Problem 9-1A
Schedule of Accounts Receivable total, $726.52
Problem 9-2A
Accounts Payable account balance, $7,048.50 credit
Problem 9-3A
Schedule of Accounts Payable total, $2,297.56
Problem 9-4A
Net Merchandise Inventory, $1,272.68 debit
Problem 9-5A
Accounts Receivable account balance, $5,018.97 debit
Problem 9-6A
Accounts Payable account balance, $12,608.06 credit
Problem 9-1B
Schedule of Accounts Receivable total, $682.42
Problem 9-2B
Accounts Payable account balance, $8,372.74 credit
Problem 9-3B
Schedule of Accounts Payable balance, $2,776
Problem 9-4B
Total Gross Sales, $5,434.85 credit
Problem 9-5B
Accounts Receivable account balance, $4,947.75 debit
Problem 9-6B
Accounts Payable account balance, $9,205.85 credit
Chapter 10
Problem 10-1A
Trial balance totals, $65,164.80
Problem 10-2A
Total Cash Debit, $9,974.22
Problem 10-3A
Total Cash Credit, $6,233.90
Problem 10-4A
Schedule of Accounts Receivable total, $5,468.00
Problem 10-5A
Total Cash Credits, $4,244.90
Problem 10-1B
Trial balance totals, $63,069.61
Problem 10-2B
Total Cash Debit, $23,670.40
Problem 10-3B
Total Cash Credit, $7,957
Problem 10-4B
Schedule of Accounts Receivable total, $4,912.20
Problem 10-5B
Total Cash Credit, $4,897.15
Chapter 11
Problem 11-1A
Net income, $41,517.76
Problem 11-2A
Net income, $38,506
Problem 11-3A
Increase in Capital, $15,736
Problem 11-4A
Net income, $14,104
Problem 11-5A
Increase in Capital, $23,705
Problem 11-1B
Net loss, $2,426.74
Problem 11-2B
Net income, $42,448
Problem 11-3B
Increase in capital, $1,612
Problem 11-4B
Net income, $108,812
Problem 11-5B
Increase in Capital, $18,311.40
Chapter 12
Problem 12-1A
Cost of Goods Sold, $206,120
Problem 12-2A
Working capital, $69,345
Problem 12-3A
Reversing entry amount, $1,240
Problem 12-4A
Net income, $14,066
Problem 12-1B
Cost of Goods Sold, $192,521
Problem 12-2B
Working capital, $73,602
Problem 12-3B
Reversing entry amount, $1,645
Problem 12-4B
Net loss, $1,737
Chapter 13
Problem 13-1A
April 30 Interest Expense debit, $18.75
Problem 13-2A
May 1 Interest Expense debit, $32.63
Problem 13-3A
Adjusting Entry, Interest Expense debit, $11.53
Problem 13-4A
Adjusting Entry, Interest Payable credit, $128.46
Problem 13-1B
May 26 Interest Expense debit, $37.45
Problem 13-2B
April 10 Interest Expense debit, $37.50
Problem 13-3B
Adjusting entry, Interest Expense debit, $8.43
Problem 13-4B
December 31 Interest Expense debit, $32.82
Chapter 14
Problem 14-1A
Interest on Blaine note, $16.25
Problem 14-2A
Interest Income on Edge Imports note, $14.18
Problem 14-3A
Proceeds of the Fletcher Sports note discounted on April 12, $3,480.80
Problem 14-4A
Adjustment for interest receivable, $21.88
Problem 14-1B
Interest on Rocha Company note, $31.17
Problem 14-2B
Interest Income on the L. Hardy note, $22.68
Problem 14-3B
Proceeds of the L. Fritz note discounted on April 21, $3,401.08
Problem 14-4B
Adjustment for interest receivable, $20.46
Chapter 15
Problem 15-1A
d. Debit Allowance for Doubtful Accounts, $1,591
Problem 15-2A
Ending balance Allowance for Doubtful Accounts, $30,156.76
Problem 15-3A
December 31 balance of Allowance for Doubtful Accounts, $1,055.86
Problem 15-4A
Total Current Assets, $243,529.21
Problem 15-5A
Total Bad Debts Expense debits, $5,358.20
Problem 15-1B
d. Debit Allowance for Doubtful Accounts, $1,349.34
Problem 15-2B
Ending balance Allowance for Doubtful Accounts, $32,200
Problem 15-3B
December 31 balance of Allowance for Doubtful Accounts, $4,058.56
Problem 15-4B
Total Current Assets, $519,642.03
Problem 15-5B
Total Bad Debts Expense debits, $10,879.72
Chapter 16
Problem 16-1A
Ending inventory under FIFO, $6,050
Problem 16-2A
Weighted-average-cost ending inventory, $23,147.68
Problem 16-3A
Moving-average-cost ending inventory, $5,766.05
Problem 16-4A
Cost of goods sold, $39,099
Problem 16-1B
Ending inventory under FIFO, $6,700
Problem 16-2B
Weighted-average-cost ending inventory, $17,572.36
Problem 16-3B
Last-in, first-out cost of goods sold, $13,485
Problem 16-4B
Cost of goods sold, $64,552.50
Chapter 17
Problem 17-1A
Double-declining-balance method, book value at end of Year 4, $3,629
Problem 17-2A
Year 2, depreciation adjustment amount, $3,700
Problem 17-3A
Year 3, Income summary debit, $9,838.75
Problem 17-4A
Year 3, Income summary debit, $718.50
Problem 17-1B
Double-declining-balance method, book value at end of Year 3, $10,368
Problem 17-2B
Year 2, depreciation adjustment amount, $1,650
Problem 17-3B
Year 3, Income summary debit, $38,605
Problem 17-4B
Year 3, Income summary debit, $1,043.38
Chapter 18
Problem 18-1A
Total Interest Allowances, $20,700
Problem 18-2A
With net income of $120,000, S. K. Miller (b) interest allowance, $3,500
Problem 18-3A
Net Income, $135,942
Problem 18-4A
Gain from realization, $4,872
Problem 18-1B
Assuming a net income of $109,000, A. C. Taylor, Net Income, $33,450
Problem 18-2B
X. R. Lopez’s share of $117,000 net income, Plan C, $56,550
Problem 18-3B
Total assets, $284,986
Problem 18-4B
Loss from realization, $9,235
Chapter 19
Problem 19-1A
August 3, Credit to Preferred 9 Percent Stock, $21,250
Problem 19-2A
June 7, Debit to Cash, $120,000
Problem 19-3A
Nov. 4, Debit to Cash, $70,400
Problem 19-4A
Total Liabilities and Stockholders’ Equity, $1,956,525
Problem 19-1B
Total Stockholders’ Equity, $221,025
Problem 19-2B
Aug. 15, Debit to Cash, $44,000
Problem 19-3B
May 23, Debit to Cash, $18,900
Problem 19-4B
Total Liabilities and Stockholders’ Equity, $797,554
Chapter 20
Problem 20-1A
Nov. 14, Retained Earnings Debit, $40,590
Problem 20-2A
Total Stockholders’ Equity, $946,900
Problem 20-3A
Total Liabilities and Stockholders’ Equity, $1,509,890
Problem 20-4A
Total Stockholders’ Equity, $1,133,675
Problem 20-1B
Nov. 17, Retained Earnings Debit, $84,480
Problem 20-2B
Total Stockholders’ Equity, $1,001,987
Problem 20-3B
Total Paid-in Capital, $1,045,505
Problem 20-4B
Total Stockholders’ Equity, $3,313,740
Chapter 21
Problem 21-1A
Adjustment, Year 1, Discount on Bonds Payable, $1,000 Credit
Problem 21-2A
Adjustment, Year 2, Premium on Bonds Payable, $1,200 Debit
Problem 21-3A
Year 2, Ending balance of Discount on Bonds Payable, $315,000 Debit
Problem 21-4A
Adjustment, Year 2, Interest Payable, $60,000 Credit
Problem 21-5A
Year 3, June 30 Gain on Redemption of Bonds Credit, $120,800
Problem 21-1B
Year 2, June 30 Interest Expense Debit, $136,000
Problem 21-2B
Year 2, December 31 Closing Entry, Income Summary Debit, $60,840
Problem 21-3B
Year 2, Ending balance of Discount on Bonds Payable, $127,125 Debit
Problem 21-4B
Year 2, Ending balance of Premium on Bonds Payable, $132,600 Credit
Problem 21-5B
Year 3, June 30 Gain on Redemption of Bonds Credit, $3,000
Chapter 22
Problem 22-1A
Net Cash Flows from Operating Activities, $48,619
Problem 22-2A
Net Cash Flows used by Financing Activities, ($35,040)
Problem 22-3A
Net Cash Flows from Operating Activities, $47,950
Problem 22-4A
Net Cash Flows from Investing Activities, $16,696
Problem 22-1B
Net Cash Flows used by Financing Activities, ($46,800)
Problem 22-2B
Net Cash Flows from Operating Activities, $32,135
Problem 22-3B
Net Cash Flows from Operating Activities, $28,162
Problem 22-4B
Net Cash Flows from Investing Activities, $14,342
Chapter 23
Problem 23-1A
Increase in Income Before Income Taxes, 30.3 percent
Problem 23-2A
check Figure 2012 percentage of Income Before Income Taxes to Net Sales, 11.8 percent
Problem 23-3A
2013 percentage of Net Income, 141.4 percent
Problem 23-4A
Price-earnings radio, 19.16
Problem 23-1B
Increase in Income Before Income Taxes, 16.2 percent
Problem 23-2B
2012 percentage of Income Before Income Taxes to Net Sales, 17.1 percent
Problem 23-3B
2013 percentage of Net Income, 103.7 percent
Problem 23-4B
Price-earnings ratio, 9.45
Chapter 24
Problem 24-1A
Amount to close Manufacturing Summary into income Summary, $2,363,660
Problem 24-2A
net income, $76,776
Problem 24-3A
income from operations, $269,173
Problem 24-4A
cost of goods Manufactured, $546,172
Problem 24-1B
Amount to close Manufacturing Summary into income Summary, $746,800
Problem 24-2B
cost of goods Manufactured, $237,740
Problem 24-3B
gross Profit, $482,832
Problem 24-4B
cost of goods Manufactured, $869,271