SOLUTIONS MANUAL for Financial Accounting Fundamentals, 8th Edition, By John Wild.

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SOLUTIONS MANUAL for Financial Accounting Fundamentals 1 Accounting in Business Importance of Accounting Users of Accounting Information Opportunities in Accounting Fundamentals of Accounting Et... hics—A Key Concept Generally Accepted Accounting Principles Conceptual Framework Business Transactions and Accounting Accounting Equation Transaction Analysis Summary of Transactions Financial Statements Income Statement Statement of Retained Earnings Balance Sheet Statement of Cash Flows Decision Analysis—Return on Assets 2 Accounting for Business Transactions Basis of Financial Statements Source Documents “Account” Underlying Financial Statements Ledger and Chart of Accounts Double-Entry Accounting Debits and Credits Double-Entry System Analyzing and Processing Transactions Journalizing and Posting Transactions Processing Transactions—An Example Summarizing Transactions in a Ledger Trial Balance and Financial Statements Preparing a Trial Balance Financial Statements Prepared from Trial Balance Decision Analysis—Debt Ratio 3 Adjusting Accounts for Financial Statements Timing and Reporting The Accounting Period Accrual Basis versus Cash Basis Recognizing Revenues and Expenses Framework for Adjustments Deferral of Expense Prepaid Insurance Supplies Other Prepaid Expenses Depreciation Deferral of Revenue Unearned Consulting Revenue Accrued Expense Accrued Salaries Expense Accrued Interest Expense Future Cash Payment of Accrued Expenses Accrued Revenue Accrued Services Revenue Accrued Interest Revenue Future Cash Receipt of Accrued Revenues Links to Financial Statements Trial Balance and Financial Statements Adjusted Trial Balance Preparing Financial Statements Closing Process Temporary and Permanent Accounts Recording Closing Entries Post-Closing Trial Balance Accounting Cycle Classified Balance Sheet Classification Structure Classification Categories Decision Analysis—Profit Margin and Current Ratio Appendix 3A Alternative Accounting for Prepayments Appendix 3B Work Sheet as a Tool Appendix 3C Reversing Entries 4 Accounting for Merchandising Operations Merchandising Activities Reporting Income for a Merchandiser Reporting Inventory for a Merchandiser Operating Cycle for a Merchandiser Inventory Systems Merchandise Purchases Purchases without Cash Discounts Purchases with Cash Discounts Purchases with Returns and Allowances Purchases and Transportation Costs Merchandise Sales Sales without Cash Discounts Sales with Cash Discounts Sales with Returns and Allowances Adjusting and Closing for Merchandisers Adjusting Entries for Merchandisers Closing Entries for Merchandisers Summary of Merchandising Entries More on Financial Statement Formats Multiple-Step Income Statement Single-Step Income Statement Classified Balance Sheet Decision Analysis—Acid-Test and Gross Margin Ratios Appendix 4A Periodic Inventory System Appendix 4B Adjusting Entries under New Revenue Recognition Rules Appendix 4C Net Method for Merchandising 5 Inventories and Cost of Sales Inventory Basics Determining Inventory Items Determining Inventory Costs Internal Controls and Taking a Physical Count Inventory Costing under a Perpetual System Inventory Cost Flow Methods Inventory Costing Illustration Specific Identification First-In, First-Out Last-In, First-Out Weighted Average Financial Statement Effects of Costing Methods Tax Effects of Costing Methods Valuing Inventory at LCM and analyzing Inventory Errors Lower of Cost or Market Financial Statement Effects of Inventory Errors Decision Analysis—Inventory Turnover and Days’ Sales in Inventory Appendix 5A Inventory Costing under a Periodic System Appendix 5B Inventory Estimation Methods 6 Cash, Fraud, and Internal Control Fraud and Internal Control Purpose of Internal Control Principles of Internal Control Technology, Fraud, and Internal Control Blockchain as a Control Limitations of Internal Control Control of Cash Cash, Cash Equivalents, and Liquidity Cash Management Control of Cash Receipts Control of Cash Payments Banking Activities as Controls Basic Bank Services Bank Statement Bank Reconciliation Decision Analysis—Days’ Sales Uncollected Appendix 6A Documentation and Verification 7 Accounting for Receivables Valuing Accounts Receivable Direct Write-Off Method Allowance Method Estimating Bad Debts for Allowance Method Percent of Sales Method Percent of Receivables Method Aging of Receivables Method Notes Receivable Computing Maturity and Interest Recording Notes Receivable Valuing and Settling Notes Disposal of Receivables Decision Analysis—Accounts Receivable Turnover 8 Accounting for Long-Term Assets Cost Determination Machinery and Equipment Buildings Land Improvements Land Lump-Sum Purchase Depreciation Factors in Computing Depreciation Depreciation Methods Partial-Year Depreciation Change in Estimates Additional Expenditures Ordinary Repairs Betterments and Extraordinary Repairs Disposals of Plant Assets Discarding Plant Assets Selling Plant Assets Cost Determination and Depletion Plant Assets Tied into Extracting Cost Determination and Amortization Types of Intangibles Decision Analysis—Total Asset Turnover Appendix 8A Exchanging Plant Assets 9 Accounting for Current Liabilities Known Liabilities Characteristics of Liabilities Examples of Known Liabilities Accounts Payable Sales Taxes Payable Unearned Revenues Short-Term Notes Payable Payroll Liabilities Employee Payroll and Deductions Employer Payroll Taxes Employee and Employer Payroll Taxes Summary Internal Control of Payroll Multi-Period Known Liabilities Estimated Liabilities Health and Pension Benefits Vacation Benefits Bonus Plans Warranty Liabilities Multi-Period Estimated Liabilities Contingent Liabilities Accounting for Contingent Liabilities Applying Rules of Contingent Liabilities Uncertainties That Are Not Contingencies Decision Analysis—Times Interest Earned Ratio Appendix 9A Payroll Reports, Records, and Procedures Appendix 9B Corporate Income Taxes 10 Accounting for Long-Term Liabilities Basics of Bonds Bond Financing Bond Issuing Bond Trading Par Bonds Discount Bonds Bond Discount or Premium Issuing Bonds at a Discount Premium Bonds Issuing Bonds at a Premium Bond Retirement Long-Term Notes Payable Installment Notes Mortgages Decision Analysis—Debt Features and the Debt-to-Equity Ratio Appendix 10A Bond Pricing 401 Appendix 10B Effective Interest Amortization Appendix 10C Leases and Pensions 11 Corporate Reporting and Analysis Corporate Form of Organization Corporate Advantages Corporate Disadvantages Corporate Organization and Management Corporate Stockholders Corporate Stock Common Stock Issuing Par Value Stock Issuing No-Par Value Stock Issuing Stated Value Stock Issuing Stock for Noncash Assets Dividends Cash Dividends Stock Dividends Stock Splits Financial Statement Effects of Dividends and Splits Preferred Stock Issuance of Preferred Stock Dividend Preference of Preferred Stock Reasons for Issuing Preferred Stock Treasury Stock Purchasing Treasury Stock Reissuing Treasury Stock Reporting of Equity Statement of Retained Earnings Statement of Stockholders’ Equity Decision Analysis—Earnings per Share, Price-Earnings Ratio, and Dividend Yield 12 Reporting Cash Flows Basics of Cash Flow Reporting Purpose of the Statement of Cash Flows Importance of Cash Flows Measurement of Cash Flows Classification of Cash Flows Noncash Investing and Financing Format of the Statement of Cash Flows Preparing the Statement of Cash Flows Cash Flows from Operating Indirect and Direct Methods of Reporting Applying the Indirect Method Summary of Adjustments for Indirect Method Cash Flows from Investing Three-Step Analysis Analyzing Noncurrent Assets Cash Flows from Financing Three-Step Analysis Analyzing Noncurrent Liabilities Analyzing Equity Proving Cash Balances Summary Using T-Accounts Decision Analysis—Cash Flow Analysis Appendix 12A Spreadsheet Preparation of the Statement of Cash Flows Appendix 12B Direct Method of Reporting Operating Cash Flows 13 Analysis of Financial Statements Basics of Analysis Purpose of Analysis Building Blocks of Analysis Information for Analysis Standards for Comparisons Tools of Analysis Horizontal Analysis Comparative Statements Trend Analysis Vertical Analysis Common-Size Statements Data Visualizations Ratio Analysis Liquidity and Efficiency Solvency Profitability Market Prospects Summary of Ratios Decision Analysis—Analysis Reporting Appendix 13A Sustainable Income Appendix A Financial Statement Information A Apple A-1 Google A-9 Samsung A-13 Appendix B Time Value of Money B-1 Appendix C Investments C-1 Index IND Chart of Accounts CA-1 Brief Review Managerial Analyses and Reports BR-1 Financial Reports and Tables BR-2 Selected Transactions and Relations BR-3 Fundamentals and Analyses BR-4 [Show More]

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