Chapter 7
7-5
Perpetual Inventory:
Inventory….37, 500
Accounts Payable…37,500
Periodic Inventory:
Purchases…37, 500
Accounts Payable…37,500
7-6
Perpetual Inventory:
Inventory….920
Cash…920
Periodic Inventory:
Freight In…920
Cash…920
7-7
20 tables returned
Perpetual Inventory:
Accounts Payable…3000
Inventory…….3000
Periodic Inventory:
Accounts Payable…3000
Purchase Return…3000
7-8
Perpetual Inventory:
Accounts Payable…34,500
Inventory…690
Cash………33,810
Periodic Inventory:
Accounts Payable…34,500
Purchase Discount…690
Cash………………..33,810
7-9
Accounts Receivable…14,000
Revenue……………..14,000
CoGS…………………10,500
Inventory……………..10,500
Periodic Inventory:
Accounts Receivable…14,000
Revenue…………….14,000
7-10
Perpetual Inventory:
Sales Returns…1200
Accounts Receivable…1200
Inventory……..900
Cost of Goods Sold….900
Periodic Inventory:
Sales Returns…1200
Accounts Receivable…1200
7-11
?????
7-34
Calculate CoGS and ending inventory balances for November using FIFO/LIFO
7-35
a. FIFO:
CoGS: 54000
Ending Inventory: 96100
b. LIFO
CoGS: 63500
Ending Inventory: 86600
c. Average Cost
CoGS: 57730.76
Ending Inventory: 92369
Chapter 13
13-12
Net Income ()
+Noncash Expenses ()
-gains from non-operating activities ()
+loss from non-operating activities ()
+Decrease in noncash current assets
-Increase in noncash current assets
+Increase in current liabilities
-Decrease in current liabilities
= Operating Activities Cash Flow
5909
+4503
-32500
-386
-4540
+355
(26659)
13-22
+48750 Net increases in cash
13-31
Net increase +146500
Chapter 14
14-33
14-40
1. CoGS = 60,000
2. NI = 125,000
3. OE = 60,000
4. IT = ???
14-42
1. RoE
2010 = .16
2011 = .34
2012 = .58
2. RoS
2010 = .02
2011 = .04
2012 = .07
3. Asset Turnover
2010 = 4
2011 = 4.44
2012 = 4.5
4. Assets-to-equity
2010 = 2
2011 = 1.8
2012 = 1.83
14-54