CHAPTER_7_WORKPAPERS

CHAPTER_7_WORKPAPERS - Name Section Date Chapter 7 Brief...

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Unformatted text preview: Name Section Date Chapter 7 Brief Exercises BE7-1 1 2 (a) 3 (b) 4 (c) 5 6 BE7-2 7 (a) 8 (b) 9 (c) 10 11 BE7-3 12 (a) 13 (b) 14 (c) 15 16 BE7-4 17 (a) 18 (b) 19 (c) 20 (d) 21 (e) 22 23 BE7-5 24 (a) 25 (b) 26 (c) 27 28 BE7-6 29 (a) 30 (b) 31 (c) 32 (d) 33 34 BE7-7 35 (a) 36 (b) 37 (c) 38 (d) 39 40 7-1 7-1 pter 7 Brief Exercises 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-1 7-1 Name Section Date Chapter 7 Brief Exercises Concluded BE7-8 1 (a) 2 (b) 3 (c) 4 (d) 5 6 7 BE7-9 8 9 Current Assets 10 11 12 13 14 15 16 17 (a) Current ratio = 18 19 20 21 (b) Working capital = 22 23 24 25 BE7-10 26 (a) Operating expenses: 27 28 29 30 (b) Income tax expense: 31 32 33 34 BE7-11 35 Earnings per share = 36 37 38 39 40 7-2 Current Liabilities 7-2 s Concluded 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-2 7-2 Name Section Date E7-1 Exercises 7-1 and 7-2 1 1. 2 2. 3 3. 4 4. 5 5. 6 6. 7 7. 8 8. 9 10 11 E7-2 12 (a) 13 14 15 16 (b) 17 18 19 20 21 22 23 (c) 24 25 26 27 28 29 30 (d) 31 32 33 34 35 36 37 38 39 40 7-3 7-3 Exercises 7-1 and 7-2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-3 7-3 Name Section Date E7-3 Exercises 7-3 to 7-5 1 (a) 2 (b) 3 (c) 4 (d) 5 (e) 6 (f) 7 (g) 8 (h) 9 10 E7-4 11 1. 12 13 14 2. 15 16 17 18 19 3. 20 21 22 23 4. 24 25 26 E7-5 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-4 7-4 es 7-3 to 7-5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-4 7-4 Name Section Date (a) Wilkinson Corporation Income Statement For The Year Ended December 31, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 (b) 19 (1) 20 21 22 (2) 23 24 25 (3) 26 27 28 (c) 29 30 31 32 33 34 35 36 37 38 39 40 Exercise 7-6 Wilkinson Corporation Gross profit = Income from operations = Net income = Profit margin percentage (rate return on sales) = 7-5 7-5 Exercise 7-6 Wilkinson Corporation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-5 7-5 Name Section Date E7-7 (a) Relationship 1 Debt to total assets 2 Return on sales 3 Return on assets 4 Return on common stockholders' equity 5 6 (b) 7 8 9 10 11 12 13 14 15 16 E7-8 17 (a) 18 Relationship 19 Debt to total assets 20 Return on sales 21 Return on assets 22 Return on common stockholders' equity 23 24 25 (b) 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Intel Corp. Johnson & Johnson Exercises 7-7 and 7-8 Motorola Inc. Southern Company Toys "R" Us, Inc. Intel Corp. 7-6 7-6 7-7 and 7-8 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-6 7-6 Name Section Date Exercise 7-9 Aruba Corporation Calculations to determine balance sheet amounts: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-7 7-7 Exercise 7-9 Aruba Corporation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-7 7-7 Name Section Date E7-9 (Concluded) Aruba Corporation Balance Sheet December 31, 2008 Assets Exercise 7-9 Concluded and 7-10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 E7-10 16 (a) 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 (b) 33 34 35 36 37 38 39 Liabilities and Stockholders' Equity Batten Ltd. Partial Balance Sheet (in U.S. format) (in thousands) Assets 7-8 7-8 ed and 7-10 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 7-8 7-8 Name Section Date Problem 7-1A Millenium Computers 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 1. 2. 3. 4. 5. 7-9 7-9 Problem 7-1A Millenium Computers 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-9 7-9 Name Section Date Problem 7-2A Yerkes, Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 1. 2. 3. 4. 5. 7-10 7-10 roblem 7-2A Yerkes, Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-10 7-10 Name Section Date Problem 7-3A 1 (a) 2 3 4 5 (b) 6 7 8 9 (c) 10 11 12 13 (d) 14 15 16 17 (e) 18 19 20 21 (f) 22 23 24 25 (g) 26 27 28 29 (h) 30 31 32 33 (i) 34 35 36 37 38 39 40 7-11 7-11 Problem 7-3A 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-11 7-11 Name Section Date (a) Quad Cities Tours Inc. Balance Sheet October 31, 2008 Assets Problem 7-4A Quad Cities Tours Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Liabilities and Stockholders' Equity 7-12 7-12 roblem 7-4A es Tours Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-12 7-12 Name Section Date (b) Problem 7-4A Concluded Quad Cities Tours Inc. 1 Current ratio = 2 3 4 5 Debt to total assets = 6 7 8 9 Working capital = 10 11 12 13 14 15 (c) 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-13 7-13 blem 7-4A Concluded uad Cities Tours Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-13 7-13 Name Section Date (a) Mid City Galleries Inc. Income Statement For The Year Ended December 31, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-14 Problem 7-5A Mid City Galleries Inc. 7-14 roblem 7-5A alleries Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-14 7-14 Name Section Date (a) (Continued) Mid City Galleries Inc. Income Statement (Continued) For the Year Ended December 31, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 (b) 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 (c) 34 35 36 37 38 39 40 Problem 7-5A Concluded Mid City Galleries Inc. Return on sales = Return on assets = Return on stockholders' equity = Debt to total assets = 7-15 7-15 blem 7-5A Concluded Mid City Galleries Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-15 7-15 Name Section Date Problem 7-1B Olsen Printers 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 1. 2. 3. 4. 5. 7-16 7-16 roblem 7-1B lsen Printers 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-16 7-16 Name Section Date Problem 7-1B Concluded Olsen Printers 1 6. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-17 7-17 blem 7-1B Concluded Olsen Printers 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-17 7-17 Name Section Date Problem 7-2B Renteria, Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 1. 2. 3. 4. 5. 7-18 7-18 roblem 7-2B enteria, Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-18 7-18 Name Section Date Problem 7-3B 1 (a) 2 3 4 5 (b) 6 7 8 9 (c) 10 11 12 13 (d) 14 15 16 17 (e) 18 19 20 21 (f) 22 23 24 25 (g) 26 27 28 29 (h) 30 31 32 33 34 35 36 37 38 39 40 7-19 7-19 Problem 7-3B 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-19 7-19 Name Section Date (a) Gabelli Equipment, Inc. Balance Sheet June 30, 2008 Assets Problem 7-4B Gabelli Equipment, Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Liabilities and Stockholders' Equity 7-20 7-20 roblem 7-4B uipment, Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-20 7-20 Name Section Date (b) Problem 7-4B Concluded Gabelli Equipment, Inc. 1 Current ratio = 2 3 4 5 Debt to total assets = 6 7 8 9 Working capital = 10 11 12 13 14 15 (c) 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-21 7-21 blem 7-4B Concluded abelli Equipment, Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-21 7-21 Name Section Date (a) Campo Leathers Inc. Income Statement For The Year Ended January 31, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-22 Problem 7-5B Campo Leathers Inc. 7-22 roblem 7-5B Leathers Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-22 7-22 Name Section Date (a) (Continued) Campo Leathers Inc. Income Statement (Continued) For the Year Ended January 31, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 (b) 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 (c) 34 35 36 37 38 39 40 Problem 7-5B Concluded Campo Leathers Inc. Return on sales = Return on assets = Return on stockholders' equity = Debt to total assets = 7-23 7-23 blem 7-5B Concluded Campo Leathers Inc. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-23 7-23 Name Section Date (a) Chapter 7 Comprehensive Problem Nu Wood Corporation Multiple-Step Nu Wood Corporation Income Statement For The Year Ended December 31, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 (b) Nu Wood Corporation Income Statement For The Year Ended December 31, 2008 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 17 7-24 Single-Step 7-24 sive Problem Corporation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 17 7-24 7-24 Name Section Date (c) Chapter 7 Comprehensive Problem Continued Nu Wood Corporation Nu Wood Corporation Retained Earnings Statement For The Year Ended December 31, 2008 1 2 3 4 5 6 (d) Nu Wood Corporation Balance Sheet December 31, 2008 Assets 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Liabilities and Stockholders' Equity 7-25 7-25 e Problem Continued Nu Wood Corporation 1 2 3 4 5 6 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 7-25 7-25 Name Section Date (e) Chapter 7 Comprehensive Problem Continued Nu Wood Corporation 1 (1) 2 3 4 (2) 5 6 7 8 (3) 9 10 11 12 13 14 15 16 17 (f) 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Current ratio = Current assets Current liabilities Working capital Debt to total assets = Profit margin percentage = Return on assets = Return on common stockholders' equity = 7-26 7-26 m Continued Corporation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-26 7-26 Name Section Date (g) Chapter 7 Comprehensive Problem Concluded Nu Wood Corporation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-27 7-27 e Problem Concluded Nu Wood Corporation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-27 7-27 Name Section Date Ch 7 Financial Reporting Problem Reed LaDue 1 (a) 2 3 4 5 6 (b) 7 8 9 10 11 12 13 (c) 14 15 16 17 18 19 (d) 20 21 22 23 24 25 26 27 28 29 30 31 (e) 32 33 34 35 36 37 38 39 40 7-28 7-28 ting Problem Reed LaDue 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-28 7-28 Name Section Date Ch 7 Financial Reporting Problem Concluded Reed LaDue 1 (f) 2 3 4 5 6 (g) 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-29 7-29 g Problem Concluded Reed LaDue 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-29 7-29 Name Section Date (a) Chapter 7 Comparative Analysis Problem PepsiCo vs Coca-Cola PepsiCo 1 1. Current ratio 2 3 4 2. Working capital 5 6 7 3. Profit margin 8 percentage 9 10 4. Return on assets 11 12 13 5. Return on common 14 stockholders' equity 15 16 17 6. Debt to total assets 18 19 20 (b) 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-30 Coca-Cola 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-30 Name Section Date Chapter 7 Exploring The Web Financial Accounting Standards Board 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 (a). (b) (c) 7-31 7-31 7 Exploring The Web ting Standards Board 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-31 7-31 Name Section Date (a) Chapter 7 Decision Making Across the Organization Financial Ratio Analysis 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 (b) 17 18 19 20 21 22 23 24 25 26 (c) 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-32 7-32 Organization atio Analysis 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-32 7-32 Name Section Date (d) Chapter 7 Decision Making Across the Organization Concluded Financial Ratio Analysis 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-33 7-33 ganization Concluded nancial Ratio Analysis 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-33 7-33 Name Section Date Chapter 7 Communication Activity Long Beach City College 1 1. 2 3 4 5 6 7 8 9 10 11 12 2. 13 14 15 16 17 18 19 20 21 22 23 24 25 26 3. 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-34 7-34 ation Activity City College 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-34 7-34 Name Section Date Chapter 7 Ethics Case Bruno Corporation 1 (a) 2 3 4 5 6 7 8 9 10 (b) 11 12 13 14 15 16 17 18 19 20 21 (c) 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-35 7-35 hapter 7 Ethics Case Bruno Corporation 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-35 7-35 Name Section Date Chapter 7 All About You Activity 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-36 7-36 t You Activity 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 7-36 7-36 ...
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