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c05 SM int 11e - CHAPTER 5 THE INCOME STATEMENT AND THE...

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5-1 CHAPTER 5 THE INCOME STATEMENT AND THE STATEMENT OF CASH FLOWS CONTENT ANALYSIS OF EXERCISES AND PROBLEMS Number Content Time Range (minutes) E5-1 Simple Income Statement . (Easy) Periodic inventory system. Multiple-step and single-step format preparation from selected account balances. 15-20 E5-2 Simple Income Statement . (Easy) Perpetual inventory system. Multiple-step and single-step format preparation from selected account balances. 15-20 E5-3 Classifications . (Moderate) Identification of where various items would be reported in the financial statements. 5-10 E5-4 Classifications . (Moderate) Identification of where various items would be reported in the financial statements. 5-10 E5-5 Basic Income Statement . (Moderate) Multiple-step and single- step income statement. IFRS discussion. 20-25 E5-6 Basic Income Statement and Statement of Comprehensive Income . (Moderate) Multiple-step and single-step income statement. Statement of comprehensive income. 20-25 E5-7 Basic Income Statement . (Moderate) Schedule of cost of goods sold. Multiple-step and single-step income statement preparation. 20-25 E5-8 Basic Income Statement and Statement of Comprehensive Income . (Moderate) Schedule of cost of goods sold. Multiple- step and single-step income statement. Statement of comprehensive income. 20-25 E5-9 Income Statement and Retained Earnings . (Moderate) Multiple-step income statement and retained earnings statement. Extraordinary item, dividends, operating loss. Compute return on stockholders' equity. 20-25 E5-10 Income Statement and Retained Earnings . (Moderate) Cost of goods sold schedule. Single-step income statement, retained earnings statement. Extraordinary item, operating loss, obsolete materials, dividends. Compute profit margin. 20-25
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5-2 Number Content Time Range (minutes) E5-11 Income Statement Calculations . (Moderate) Determination of various amounts from partial information. 10-15 E5-12 Income Statement Calculations . (Moderate) Determination of various amounts based on partial information. 15-20 E5-13 Results of Discontinued Operations . (Easy) Preparation of results from discontinued operations section when component is held for sale at end of year. 10-15 E5-14 Results of Discontinued Operations . (Moderate) Preparation of results from discontinued operations section when component is held for sale at end of year. 15-20 E5-15 (AICPA adapted). Income Statement Deficiencies . (Moderate) Identify appropriate and inappropriate disclosures. Provide rationale. 20-25 E5-16 Comprehensive Income . (Moderate) Preparation of income statement and statement of comprehensive income under two different methods. 10-15 E5-17 Net Cash Flow From Operating Activities . (Easy) Preparation of operating activities section of statement of cash flows from list of items. 5-15 E5-18 Operating Cash Flows: Direct Method . (Easy) Prepare cash flows from operating activities section of statement of cash flows, using the direct method.
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