CHAPTER 4 - CHAPTER 4 Balance Sheet ASSIGNMENT...

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Unformatted text preview: CHAPTER 4 Balance Sheet ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems 1. Disclosure principles, uses of the balance sheet, financial flexibility. 1, 2, 3, 5, 6, 7, 10, 18, 21, 24, 25 1 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, 6, 7, 8, 9, 10 3. Preparation of balance sheet; issues of format, terminology, and valuation. 4, 7, 8, 9, 16, 17, 20, 23, 26 4, 5, 6, 7, 11, 12 1, 2, 3, 4, 5 4. Subsequent events. 22 13, 14 6 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 1, 2 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 1, 2, 3, 4, 5, 6, 7 4. Determine which balance sheet information requires supplemental disclosure. 7, 10, 13, 14 3, 4, 6, 7 5. Describe the major disclosure techniques for the balance sheet. ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E4-1 Balance sheet classifications. Simple 1520 E4-2 Classification of balance sheet accounts. Simple 1015 E4-3 Classification of balance sheet accounts. Simple 1520 E4-4 Preparation of a classified balance sheet. Simple 3035 E4-5 Preparation of a corrected balance sheet. Simple 3035 E4-6 Corrections of a balance sheet. Moderate 3035 E4-7 Current assets section of the balance sheet. Moderate 1520 E4-8 Current vs. long-term liabilities. Moderate 1015 E4-9 Current assets and current liabilities. Moderate 3035 E4-10 Current liabilities. Moderate 1520 E4-11 Balance sheet preparation. Moderate 2530 E4-12 Preparation of a balance sheet. Moderate 3035 E4-13 Post-balance-sheet events. Moderate 1015 E4-14 Post-balance-sheet events. Moderate 1520 P4-1 Preparation of a classified balance sheetperiodic inventory. Moderate 3035 P4-2 Balance sheet preparation. Moderate 3540 P4-3 Balance sheet adjustment and preparation. Moderate 4045 P4-4 Preparation of a corrected balance sheet. Complex 4045 P4-5 Balance sheet adjustment and preparation. Complex 4050 P4-6 Corrected balance sheetsubsequent events. Difficult 4050 P4-7 Post-balance-sheet events. Moderate 2025 ANSWERS TO QUESTIONS 1. The balance sheet provides information about the nature and amounts of investments in enterprise resources, obligations to enterprise creditors, and the owners equity in net enterprise resources. That information not only complements information about the components of income, but also contributes to financial reporting by providing a basis for (1) computing rates of return, (2) evaluating the capital structure of the enterprise, and (3) assessing the liquidity and financial flexibility of the enterprise. financial flexibility of the enterprise....
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This note was uploaded on 11/28/2011 for the course ACCT 310 taught by Professor Wilson during the Fall '11 term at Metro State.

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CHAPTER 4 - CHAPTER 4 Balance Sheet ASSIGNMENT...

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