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ch05 solutions

# ch05 solutions - CHAPTER 5 Balance Sheet and Statement of...

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5-1 CHAPTER 5 Balance Sheet and Statement of Cash Flows ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Disclosure principles, uses of the balance sheet, financial flexibility. 1, 2, 3, 4, 5, 6, 7, 10, 18, 22, 23, 25 1 4, 5 2. Classification of items in the balance sheet and other financial statements. 11, 12, 13, 14, 15, 16, 18, 19 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 1, 2, 3, 4, 6, 7, 8, 9, 10 1, 2, 3 3. Preparation of balance sheet; issues of format, terminology, and valuation. 4, 7, 8, 9, 16, 17, 20, 21, 24 4, 5, 6, 7, 11, 12 1, 2, 3, 4, 5 3, 4, 5 4. Statement of cash flows. 25, 26, 27, 28, 29, 30, 31, 32 12, 13, 14, 15, 16 13, 14, 15, 16, 17, 18 6, 7 6

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5-2 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Brief Exercises Exercises Problems 1. Explain the uses and limitations of a balance sheet. 7 2. Identify the major classifications of the balance sheet. 1, 2, 3, 4, 6, 8, 9 3. Prepare a classified balance sheet using the report and account formats. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 1, 2, 3, 4, 5, 6, 7, 9, 10, 11, 12, 17 1, 2, 3, 4, 5, 6, 7 4. Determine which balance sheet information requires supplemental disclosure. 10 4 5. Describe the major disclosure techniques for the balance sheet. 6. Indicate the purpose of the statement of cash flows. 7. Identify the content of the statement of cash flows. 13 8. Prepare a statement of cash flows. 12, 13, 14, 15 14, 15, 16, 17, 18 6, 7 9. Understand the usefulness of the statement of cash flows. 16 15, 16, 18 6, 7
5-3 ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E5-1 Balance sheet classifications. Simple 15–20 E5-2 Classification of balance sheet accounts. Simple 15–20 E5-3 Classification of balance sheet accounts. Simple 15–20 E5-4 Preparation of a classified balance sheet. Simple 30–35 E5-5 Preparation of a corrected balance sheet. Simple 30–35 E5-6 Corrections of a balance sheet. Complex 30–35 E5-7 Current assets section of the balance sheet. Moderate 15–20 E5-8 Current vs. long-term liabilities. Moderate 10–15 E5-9 Current assets and current liabilities. Complex 30–35 E5-10 Current liabilities. Moderate 15–20 E5-11 Balance sheet preparation. Moderate 25–30 E5-12 Preparation of a balance sheet. Moderate 30–35 E5-13 Statement of cash flows—classifications. Moderate 15–20 E5-14 Preparation of a statement of cash flows. Moderate 25–35 E5-15 Preparation of a statement of cash flows. Moderate 25–35 E5-16 Preparation of a statement of cash flows. Moderate 25–35 E5-17 Preparation of a statement of cash flows and a balance sheet. Moderate 30–35 E5-18 Preparation of a statement of cash flows, analysis. Moderate 25–35 P5-1 Preparation of a classified balance sheet, periodic inventory. Moderate 30–35 P5-2 Balance sheet preparation. Moderate 35–40 P5-3 Balance sheet adjustment and preparation. Moderate 40–45 P5-4 Preparation of a corrected balance sheet. Complex 40–45 P5-5 Balance sheet adjustment and preparation. Complex 40–50 P5-6 Preparation of a statement of cash flows and a balance sheet. Complex 35–45 P5-7 Preparation of a statement of cash flows and a balance sheet. Complex 40–50 C5-1 Reporting for financial effects of varied transactions.

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