Check Figures for Financial & Managerial Accounting, 2005e

Chapter 1 Problems

P 1. Total assets: $10,820

P 2. Total assets: $70,600

P 3. Total assets: $15,920

P 4. Total assets: $71,900

P 5. Total assets: $5,120

P 6. Total assets: $9,150

P 7. Total assets: $143,800

P 8. Total assets: $48,750

Chapter 2 Problems

P 1. No check figure

P 2. Trial balance: $16,450

P 3. Trial balance: $7,400

P 4. Trial balance: $11,550

P 5. Trial balance: $23,515

P 6. No check figure

P 7. Trial balance: $10,540

P 8. Trial balance: $30,710

Chapter 3 Problems

P 1. No check figure

P 2. No check figure

P 3. Adjusted Trial Balance: $125,792

P 4. Adjusted Trial Balance: $31,578

P 5. Adjusted Trial Balance: $654,209

P 6. No check figure

P 7. No check figure

P 8. Adjusted Trial Balance: $109,167

Chapter 4 Problems

P 1. Total assets: $627,800

P 2. Total assets: $113,616

P 3. May Adjusted Trial Balance: $10,338; Total assets: $9,024; Post-Closing Trial Balance: $9,094; June. Adjusted Trial Balance: $10,908; Total assets: $9,204; Post-Closing Trial Balance: $9,344

P 4. Total assets: $701,736

P 5. Total assets: $123,574

P 6. Total assets: $193,858

P 7. Total assets: $6,943

P 8. Total assets: $29,691

Chapter 5 Problems

P 1. No check figure

P 2. Net income for 20x4: $48,626

P 3. Total assets: $397,143

P 4. No check figure

P 5. Net income: $72,260; Total assets: $1,083,800

P 6. No check figure

P 7. Net income for 20x5: $22,140

P 8. No check figure

Chapter 6 Problems

P 1. Net income: $2,761

P 2. No check figure

P 3. Net income: $56,823

P 4. No check figure

P 5. No check figure

P 6. No check figure

P 7. Net income: $26,870

P 8. No check figure

P.9. Net income: $2,435

P10. No check figure

Chapter 7 Problems

P 1. Short-term investments (at market): $354,000

P 2. No check figure

P 3. Amount of adjustment: $73,413

P 4. No check figure

P 5. Adjusted book balance: $149,473.28

P 6. Short-term investments (at market): $903,875

P 7. No check figure

P 8. Amount of adjustment: $9,533

P 9. No check figure

P10. Adjusted book balance: $$54,485.60

Chapter 8 Problems

P 1. 1. Cost of goods available for sale: $157,980

P 2. 1. Cost of goods sold for March: $4,578; for April: $15,457

P 3. 1. Cost of goods sold for March: $4,560; for April: $15,424

P 4. Estimated inventory shortage at cost: $6,052; at retail: $8,900

P 5. Estimated loss of inventory in fire: $653,027

P 6. Cost of goods available for sale: $10,560,000

P 7. 1. Cost of goods sold for April: $9,660; for May: $22,119

P 8. 1. Cost of goods sold for April: $9,580; for May: $21,991

Chapter 9 Problems

P 1. No check figure

P 2. No check figure

P 3. 1.b. Estimated Product Warranty Liability: $20,160

P 4. 3. Payroll Taxes Expense: $44,221.38

P 5. Net Pay, total: $8,176.32

P 6. No check figure

P 7. 1.b. Estimated Product Warranty Liability: $10,800

P 8. 3. Payroll Taxes Expense: $31,938.70

Chapter 10 Problems

P 1. Total cost: Land: $361,950; Land Improvements: $71,000; Building: $691,800; Furniture and Equipment: $105,400

P 2. 1. Depreciation, Year 3: a. $165,000; b. $132,000; c. $90,000

P 3. Total Depreciation Expense: 20x5: $13,280; 20x6: $18,760; 20x7: $15,728

P 4. a. Gain on Sale of Road Grader: $1,800; b. Loss on Sale of Road Grader: $2,200; c. Gain on Exchange of Road Grader: $1,800; d. Loss on Exchange of Road Grader: $2,200; e. No gain recognized

P 5. Part A. c. Amortization Expense: $492,000; d. Loss on Exclusive License: $1,476,000; Part B. d. Leasehold Amortization Expense: $1,575; e. Leasehold Improvements Amortization Expense: $2,500

P 6. Totals: Land: $852,424; Land Improvements: $333,120; Buildings: $1,667,880; Machinery: $2,525,280; Expense: $36,240

P 7. 1. Depreciation, Year 3: a. $54,250; b. $81,375; c. $53,407

P 8. Total Depreciation Expense: 20x4: $71,820; 20x5: $103,092; 20x6: $84,072

Chapter 11 Problems

P 1. 2. Bond Interest Expense: Nov. 30, $1,597,500; Dec. 31, $266,250

P 2. 1. Bond Interest Expense: Sept. 1, $754,400; Nov. 30, $377,071

P 3. Bond Interest Expense: June 30, 20x4, $144,666; Sept. 1, 20x4, $93,290

P 4. 2. Loss on early retirement: $2,261,293

P 5. Bond Interest Expense: Jan. 31, 20x4, $2,400,000; June 30, 20x4, $2,000,000

P 6. 2. Bond Interest Expense: Sept. 1, $192,800; Nov. 30, $96,400

P 7. 1. Bond Interest Expense: Nov. 30, $520,150; Dec. 31, $86,651

P 8. Bond Interest Expense: June 30, 20x3, $46,598; Sept. 30, 20x3, $96,900

Chapter 12 Problems

P 1. 2. Total stockholders’ equity: $175,700

P 2. 1. 20x5 Total dividends: Preferred, $60,000; Common, $34,000

P 3. No check figure

P 4. 2. Total stockholders’ equity: $950,080

P 5. 2. Total stockholders’ equity: $330,375

P 6. 2. Total stockholders’ equity: $1,488,000

P 7. 1. 20x3 Total dividends: Preferred, $420,000; Common, $380,000

P 8. 2. Total stockholders’ equity: $475,040

Chapter 13 Problems

P 1. 2. Difference in net income: $48,800

P 2. 1. Income before extraordinary items and cumulative effect of accounting change: $108,000

P 3. 1. Income from continuing operations, December 31, 20x3: $551,250

P 4. 2. Total stockholders’ equity, December 31, 20x3: $1,157,000

P 5. 2. Retained earnings: $231,500; Total stockholders’ equity: $1,321,500

P 6. 1. Income before extraordinary items and cumulative effect of accounting change: $205,000

P 7. 2. Total stockholders’ equity, December 31, 20x5: $2,964,000

P 8. 2. Retained earnings: $207,500; Total stockholders’ equity: $1,257,500

Chapter 14 Problems

P 1. No check figure

P 2. 1. Net cash flows from: operating activities, $126,600; investing activities, ($25,800); financing activities, $14,000

P 3. 1. Net cash flows from: operating activities, ($32,600); investing activities, ($7,200); financing activities, $51,000

P 4. 1. Net cash flows from: operating activities, ($106,000); investing activities, $34,000; financing activities, $24,000

P 5. No check figure

P 6. 1. Net Cash flows from: operating activities, $274,000; investing activities, $3,000; financing activities, ($130,000)

P 7. 1. Net cash flows from: operating activities, $46,800; investing activities: ($14,400); financing activities, $87,000

Chapter 15 Problems

P 1. No check figure

P 2. Projected Cost per Unit: $22.25

P 3. No check figure

P 4. No check figure

P 5. Total traffic flow goal, 24,184

P 6. No check figure

P 7. 2. Decrease in number of rejects: 202

P 8. Average output, week eight: 92,899

Chapter 16 Problems

P 1. 2. Total unit cost: $13.72

P 2. Cost of goods manufactured: $10,163,200

P 3. 2a. Gross Margin: $191,800; 2d. Cost of Goods Manufactured: $312,100

P 4. 2. Overhead applied to Job 2214: $29,717

P 5. 2. Total costs assigned to the Grater order, activity-based costing method: $69,280.40

P 6. 1. Predetermined overhead rate for 20x6: $5.014 per machine hour

P 7. 2. Total costs assigned to the Kent order, activity-based costing method: $41,805.60

P 8 1c. Rigger II: $11,665; BioScout: $14,940

Chapter 17 Problems

P 1. b. $66,500; i. $57,800

P 2. Manufacturing overhead applied, January 15: $108,073

P 3. 2. $185,073

P 4. 1. Audit revenue, Rainy Day Bakeries: $37,163

P 5. Contract revenue, Job Order No. P-12: $28,990

P 6. Manufacturing overhead applied, September 15: $75,480

P 7. 3. $89,647

P 8. No check figure

Chapter 18 Problems

P 1. 1. Cost per equivalent unit: $6.05; ending inventory: $7,225

P 2. 1. Cost per equivalent unit: $2.00; ending inventory: $5,372

P 3. 1. Cost per equivalent unit: $$7.00; ending inventory: $37,200

P 4. 1. Cost per equivalent unit: $3.78; ending inventory: $9,455

P 5. 1. Cost per equivalent unit: $4.70; ending inventory: $39,180

P 6. 1. Cost per equivalent unit: $0.59; ending inventory: $1,494

P 7. 1. Cost per equivalent unit: $1.25; ending inventory: $6,572

P 8. 1. Cost per equivalent unit: $213.40; ending inventory: $220,475

Chapter 19 Problems

P 1. No check figure

P 2. 1. Product unit cost: $270.00; 4. Product unit cost: $280.47

P 3. 1a. Total materials handling cost rate: 30% per dollar of direct materials

P 4. 3. Total direct cost, toy car work cell: $17,000

P 5. 3. Cost of goods sold: $564,400

P 6. 1. Product unit cost: $878.25

P 7. 3. Product unit cost: $10.43

P 8. 3. Cost of goods sold: $391,520

Chapter 20 Problems

P 1. 4. Cost per Job: $81.56

P 2. 1. 7,500 Billable Hours

P 3. 1.a. 3,500 Units

P 4. 2. 190,000 Units

P 5. 3. $806.60 per Job

P 6. 1. 740 Systems

P 7. 1.a. 7,900 Units

P 8. 2. 418 Loans

Chapter 21Problems

P 1. 1. Total manufacturing costs budgeted, November: $1,157,000

P 2. 8. Income from operations: $3,086

P 3. 1. Ending cash balance, August: $1,800

P 4. 1. Projected net income: $101,812

P 5. Ending cash balance, February, $19,555

P 6. 1. Net income: $1,860,830

P 7. 1. Ending cash balance, February: ($2,900)

P 8. 1. Net income: $52,404

Chapter 22 Problems

P 1. Total standard unit cost of front entrance: $8,510

P 2. 2. Flexible budget formula: Total Budgeted Costs = ($.35 x Units Produced) + $10,500

P 3. 1. Direct materials price variance—Metal: $832 (F); 2. Direct labor rate variance—Molding: $510 (F)

P 4. 1.b. Direct materials quantity variance: $3,720 (U); 1.h. Fixed overhead volume variance: $320 (F)

P 5. c. Actual variable overhead: $42,500

P 6. 1. Total standard direct materials cost per unit: $167.52

P 7. 1. Direct materials price variance—Liquid Plastic: $386 (F); 2. Direct labor rate variance—Trimming/Packing: $56 (U)

P 8. 1.a. Direct materials price variance—Chemicals: $12,200 (F); 1.e. Variable overhead spending variance: $100 (U)

Chapter 23 Problems

P 1. 1. Flexible Budget, Total Cost: $7,248,000

P 2. 2. Operating Income: $194,782

P 3. 1. Flexible Budge, Contribution margin: $88,200

P 4. 3. Economic value added for 20x8: $21,850

P 5. 1. Residual income: ($2,500)

P 6. 2. Operating Income: $418,555

P 7. 3a. Actual Return on Investment: 6.3%

P 8. 3. Economic value added: $126,000

Chapter 24 Problems

P 1. 1. Cost to make: $1,200,000

P 2. 1. Contribution margin: $6,420

P 3. 1. Operating loss if Baseball line is dropped: ($50,000)

P 4. 2. Contribution margin per machine hour for AZ1: $2.40

P 5. 1. Contribution margin per hour for phone calls: $130

P 6. 3. Operating income from further processing, bagel sandwiches with cheese: $.50

P 7. 1. Segment margin for Book X: $223,560

P 8. 2. $68.20

Chapter 25 Problems

P 1. 2. $23.04

P 2. 2. Tone Book: $23.39

P 3. Total billing: $14,812.71

P 4. 1. Speed-Calc 4: $78.40; 2. Speed-Calc 5: $84.84

P 5. 1. $19.20

P 6. $27.68

P 7. 1. Product Y14: $520.00; 2. Product Z33: $623.40

P 8. 1. $34.08

Chapter 26 Problems

P 1. 1. 10.15%

P 2. 1. $99,672

P 3. Positive net present value: $35,540

P 4. 1. HZT Machine: 13.4%; 2. XJS Machine: 5.5 years

P 5. Negative net present value: ($26,895)

P 6. 1. $92,536.50

P 7. Negative net present value: ($7,080)

P 8. 1. ETZ Machine: ($32,379); 2. ETZ Machine: 20.7%; 3. ETZ Machine: 5.4 years

Chapter 27 Problems

P 1. 1. Aspen, total costs of quality as a percentage of sales: 7.28%; Frisco, ratio of costs of conformance to costs of quality: 28.10%

P 2. 1. Carbondale Company, total costs of conformance: $533,600; 2. Carbondale Company, total costs of nonconformance: 10.30%

P 3. 1. Springs Division is first; Glenwood Division is last

P 4. 1. Delivery cycle time, weekly average: 73.43

P 5. 1. Partnership Portal, total costs of conformance as a percentage of sales: .58%; 2. Small Business Portal, ratio of costs of nonconformance to costs of quality: 45.03%

P 6. 1. East Division, total costs of conformance: $348,500; 2. East Division, total costs of nonconformance: 9.5% of sales

P 7. Delivery cycle time, weekly average: 58.04 hours

Chapter 28 Problems

P 1. No check figure

P 2. Increase: d, h, i

P 3. 1.c. Receivable turnover, 20x5: 13.9 times; 20x4: 15.6 times; 1.e. Inventory turnover, 20x5: 3.9 times; 20x4: 3.8 times

P 4. 1.b. Quick ratio, Reynard: 0.4 times; Bouche: 1.0 times; 2.d. Return on equity, Reynard: 11.8%; Bouche: 8.8%

P 5. Increase: a, b, e, f, l, m

P 6. 1.a. Current ratio, 20x6: 1.9 times; 20x5: 1.0 times; 2.c. Return on assets, 20x6: 8.4%; 20x5: 6.6%