January 5, 2000 Orientation
January 7, 2000 Read Chapter
16 Outline
investing in existing partnership
January 10, 2000 Do p16-3,
16-10,
16-12
January 12, 2000 Read Chapter 17
January 14, 2000 Do p17-1,
17-3,
17-4,
17-8
January 17, 2000 Read Chapter
19
January 19, 2000 Do p19-1, 19-3,
19-4,
January 21, 2000 Do p19-6, 19-7,
19-9
January 24, 2000 Read Chapter
20 Solutions
for exercise MC questions 1-10.
January 26, 2000 Do p20-1, 20-2,
20-3, 20-6
January 28, 2000 Do p20-8,
20-9,
20-11
January 31, 2000 Do p20-12,
20-14, 20-15
February 2, 2000 Test on chapters 16, 17, 19,
and 20
February 4, 2000 Read Chapter 1 and do p1-3
Pooling
Method Examples
February 7, 2000 Do p1-7,
1-8,
1-10,
1-11
February 9, 2000 Read Chapter 2
February 11, 2000 Do p2-1, 2-2,
2-3,
2-5,
2-6,
2-8
February 14, 2000 Do p2-10,
2-12,
2-13,
2-14
February 16, 2000 Read Chapter 3
February 18, 2000 Do p3-1, 3-2,
3-3, 3-5, 3-6
February 21, 2000 Do p3-7, 3-9,
3-10,
3-12
February 23, 2000 Do p 3-8, 3-13,
3-14,3-15
Use Excel templates for problems 14
and 15.
February 25, 2000 Test on chapters 1-3
March 6, 2000 Read
Chapter
4 Text problem templates
are available.
March 8, 2000 Do
p4-2, 4-4, 4-7
March 10, 2000 Do p 4-9,
4-11, 4-13
March 13, 2000 Do p
4-14, 4-17
March 15, 2000 Read Chapter 5
Text problem templates
are available
March 17, 2000 Do p
5-6, 5-8, 5-11
March 20, 2000 Do p
5-12, 5-13
March 22, 2000 Read Chapter 6
Text problem templates
are available
March 24, 2000 Do p 6-1,
6-2,
6-10
March 27, 2000 Do p 6-7,
6-12
March 29, 2000 Test on Chapters
4-6 Review
for test.
March 31, 2000 Read Chapter 13
April 3, 2000
Do p 13-1, 13-3, 13-4, 13-5, 13-6, 13-7
April 5, 2000
Do p 13-9, 13-10, 13-12, 13-13
April 7, 2000
Read Chapter 14 Text problem templates
are available
April 10, 2000
Do p 14-4, 14-6,14-8
April 12, 2000
Do p 14-9, 14-13,
14-14
April 14, 2000
Read Chapter 21
April 17, 2000
Do p 21-1, 21-3, 21-4, 21-6, 21-7
April 19, 2000
Read Chapter 15 Do p 15-2, 15-7
April 27, 2000
Final Examination at 8:30 A.M. on chapters 13, 14, 15, and
21. Review
for final.
Problem 16-3: Income to Ashe $65,000
Problem 16-10: Goodwill part 3 $70,000
and part 4 $120,000
Problem 16-12: Part 2 total capital 12/31/X8
$76,000 and income to Drinkard $10,625
Problem 17-1: Dr to Barney Capital 25,000
Problem 17-3: Schedule of Assumed Loss Absorption
ends with $30,000 in Fred equity.
Problem 17-4: Part 2: 40,000 distribution
to Joseph
Problem 17-8: January safe payment to Kelly
is $1,100.
Problem 19-3: Before preparing the balance
sheet you might want to record some entries such as the closing entries
and the entry for supplies (with a credit to Reserve for supplies).
Total assets = 256,000.
Problem 19-4: June 30, 20X3 total
fund balance $128,000. Total assets $228,000.
Problem 19-7: Property tax levy required 3,360,500.
Problem 20-2: The debt service fund is not
used for a capital lease.
Problem 20-6: For the first transaction
$4,000 is paid instead of $40,000.
Problem 20-8: Total assets Dec. 31,
X2 $113,000 in Student Aid Principal Trust Fund.
Problem 20-9: State grant is used before
the use of bond proceeds. Total liabilities 2,129,000.
Problem 20-11: Total fund balance
6/30/X8 360,000 with 40,000 unreserved. Total assets 712,000 (cash).
Problem 20-12 Problem 20-12: 4) Liability
is due to utility fund. 6) Leave excess cash in CPF. 7) Record revenue
and expenditures in nonexpendable trust fund (NETF) & then have
an operating transfer to the ETF. 8) Transfer the bond premium and excess
cash to DSF
Problem 1-3 1a 10,000,000 1c total
paid-in capital 61,000,000 2c R/E 14,000,000
Problem 1-7: Part 2a, credit of 11,750,000
to common stock.
Problem 1-8: 1b, debit add'l pd. in capital
1,300,000 & cr R/E 8,000,000. Total assets = 44,800,000
Problem 1-10: Other paid in capital
2,200,000 pooling, and 10,500,000 purchase. Total assets 49,300,000
for purchase.
Problem 1-11: The 50,000 for registering
securities goes to other paid in capital. There is 100,000 of negative
goodwill. total current assets 9,950,000 & plant assets 22,900,000.
Problem 2-1: 1.GW 40,000 3.Invest in Shelly
363,250
Problem 2-3: Income from Zelda 21,800.
Problem 2-5: Income from Tremor 306,000
Problem 2-6: Income from Stapleton
X7 5,100
Problem 2-8: 1.Invest. income X3 13,350.
3. Investment acct. bal. 12/31/X4 92,550
Problem 2-10: For sample of schedule, see
exhibit 2-1 on page 43
Problem 2-12: Part 1: 373,000
Problem 2-13: Part 2: 41,950 - Depreciation
and amortization are for 9/12 of year.
Problem 2-14: Part 2: 51,960
Problem 3-1: Cons. assets 878,000
Problem 3-2: G/W 66,000, Cons. assets
806,000
Problem 3-5: Total assets 1,360,000
Problem 3-6: Cons. assets 1,772,000
Problem 3-9: Total assets 9,898,000
Problem 3-10: Part 1: 256,000
Problem 3-12: Part 5: 210,000
Problem 3-13: 1b: 916,000 2a: 26,700
Problem 3-14: Total c. assets 3,970,000
total assets 19,630,000
Problem 3-15: Total c. assets 5,070,000
total assets 19,630,000
Problem 4-2: 1. Total assets 225,500, 2.
Consol. income 40,200 3. total asets 284,700.
Problem 4-4: Total Concol. assets 845,000
Problem 4-7: Total Consol. assets 7,250,000
Problem 4-9: Total Consol. assets 836,000.
Problem 4-13: Consol income 105,000, R/E
131000, assets 560,000
Problem 4-14: Consol. income 135,000,
R/E 151,000, assets 1,112,000
Problem 4-17: Consol. assets: 214,200, revenue
128,700, net income 20,000
Problem 5-6: 1) 637,000 2) 13,800 3)174,200
Problem 5-8: Part 1: 362,500 X8, part 2:
2,062,500 X8, part 3 87,500 X8
Problem 5-11: COGS 360,000 and ending minority
interest 85,000.
Problem 5-12: COGS 390,000, min. interest
income 9,600.
Problem 5-13: COGS 369,000. min. interest
income 3,500. Note: The beginning investment in Sert account
is equal to 90% of the Sert beginning owners equity (130,000 X 90%).
Since that is true, the inter-company profits have not been correctly accounted
for under the equity method. This is the only item that requires
correcting entries. If you use the template, edit the template beginning
balances by pressing F2 when the cursor is at the cell requiring change
and then plus or minus your changes.
Problem 6-1: Income from Sear 56,000.
Problem 6-2: Total Consol. Assets 54,800,000.
Problem 6-10: Minority interest income 11,000
and consol. total assets 553,000
Problem 6-7: Total cons. assets: 1,078,500
and min. interest 12/31/x6 76,200
Problem 6-12: Consol net income 502,000
and consol assets 4,790,000
Problem 14-4: Translation w/s debits US$
13,395,000, income from Schultz 1,056,000, investment 12/31/X6 4,752,000
Problem 14-6: X7 US$ debits 2,695,000 income
from Sevin 292,050 end of year Investment 1,040,400
Problem 14-8: US$ trial balance debits 2,154,500
Problem 14-9: Inv. 12/31/X7 2,762,500, Consol.
equity adj. 427,100
Problem 14-13: Minority interest 12-31-X8
23,000
Problem 14-14: Trans adj. 56,800 dr and
remeasure adj. 45,600 cr