Solutions for Ch. 3 homework

Solutions for Ch. 3 homework - PROBLEM 3-22 Event a b c d e...

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PROBLEM 3-22 Event Product Costs Period Costs a. b. c. d. e. f. g. h. i.
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PROBLEM 3-25 a. Event No. Event Type Event No. Event Type 1a. AS 5a. AU 1b. AE 5b. AS 2. AU 6. AU 3. AU 7. AS/AU 4a. AS 8. AU 4b. AU E. Eaton Company Horizontal Statements Model - 2005 Balance Sheet Income Statement Statement of Event No. Cash + Accts.  Rec. + Mdse.  Inv. = Accts.  Pay + Ret.  Earn. Rev. - Exp. = Net Inc. Cash Flows Bal. 6,500 NA 9,000 NA 15,500 1a. NA NA 2,970 2,970 NA NA NA NA NA 1b. (150) NA 150 NA NA NA NA NA (150) OA 2. NA NA (297) (297) NA NA NA NA NA 3.  (2,700) NA NA (2,673) (27) NA 27 (27) (2,700) OA
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4a.  NA 5,880 NA NA 5,880 5,880 NA 5,880 NA 4b.  NA NA (3,500) NA (3,500) NA 3,500 (3,500) NA 5a.  (650) NA NA NA (650) (650) NA (650) (650) OA 5b.  NA NA 400 NA 400 NA (400) 400 NA 6. (80) NA NA NA (80) NA 80 (80) (80) OA 7.  6,000 (5,880) NA NA 120 120 NA 120 6,000 OA 8. NA NA (423) NA (423) NA 423 (423) NA Bal. 8,920 -0- 8,300 -0- 17,220 5,350 3,630 1,720 2,420 NC
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PROBLEM 3-25 b. C. Eaton Company Financial Statements For the Year Ended December 31, 2005 Income Statement Net Sales $5,230 Cost of Goods Sold (3,523) Gross Margin 1,707 Operating Expenses Transportation-out (80) Operating Income 1,627 Non-operating Items Interest Revenue 120 Interest Expense (27) Net Income $1,720 Statement of Changes in Stockholders’ Equity Beginning Retained Earnings 15,500 Plus: Net Income
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