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CHAPTER 5

# CHAPTER 5 - CHAPTER 5 Income Statement and Related...

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Unformatted text preview: CHAPTER 5 Income Statement and Related Information ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems 1. Income measurement concepts. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 18, 28, 31, 32, 33 2. Computation of net income from balance sheets and selected accounts. 1 1, 2, 7 3. Single-step income statements; earnings per share. 11, 19, 23, 24 2, 8 3, 4, 6, 7, 10, 15, 16 2, 3, 4, 5 4. Multiple-step income statements. 12, 17, 18, 19, 20 3 4, 5, 6, 8 1, 4 5. Extraordinary items; accounting changes; discontinued operations; prior period adjustments; errors. 13, 14, 15, 16, 27, 29 4, 5, 6, 7 5, 7, 9, 10, 12, 13 3, 4, 5, 6, 7 6. Retained earnings statement. 30 9, 10 8, 10, 11, 12, 16 1, 2, 4, 5, 6 7. Intraperiod tax allocation. 21, 22, 25, 26, 27 8 8. Comprehensive income. 34 11 14, 15, 16, 17, 18 9. Disposal of a component (discontinued operations). 29, 35 ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE) Learning Objectives Brief Exercises Exercises Problems 1. Understand the uses and limitations of an income statement. 2. Prepare a single-step income statement. 1, 2 1, 2, 3, 4, 6, 7, 16, 18 2 3. Prepare a multiple-step income statement. 3, 4 4, 5, 6, 8, 10, 14 1, 4 4. Explain how to report irregular items. 4, 5, 6, 7, 10 5, 7, 8, 10, 12, 13, 16 1, 3, 4, 5, 6, 7 5. Explain intraperiod tax allocation. 5, 6, 7 8, 12, 13, 16 1, 3, 5, 6, 7 6. Identify where to report earnings per share information. 8 7, 8, 9, 10, 12, 13, 16 1, 2, 3, 4, 5, 7 7. Prepare a retained earnings statement. 9, 10 8, 11, 15, 16, 18 1, 2, 4, 5, 6 8. Explain how to report other comprehensive income. 11 14, 15, 16, 17, 18 ASSIGNMENT CHARACTERISTICS TABLE Item Description Level of Difficulty Time (minutes) E5-1 Computation of net income. Simple 15–20 E5-2 Income statement items. Simple 25–35 E5-3 Single-step income statement. Moderate 20–25 E5-4 Multiple-step and single-step. Simple 30–35 E5-5 Multiple-step and extraordinary items. Moderate 30–35 E5-6 Multiple-step and single-step. Moderate 30–40 E5-7 Income statement, EPS. Simple 15–20 E5-8 Multiple-step statement with retained earnings. Simple 30–35 E5-9 Extraordinary items. Moderate 20–25 E5-10 Classification of income statement items. Moderate 20–25 E5-11 Earnings per share. Simple 20–25 E5-12 Condensed income statement—periodic inventory method. Moderate 20–25 E5-13 Retained earnings statement. Simple 20–25 E5-14 Earnings per share. Moderate 15–20 E5-15 Change in accounting principle. Moderate 15–20 E5-16 Comprehensive income. Simple 15–20 E5-17 Comprehensive income. Moderate 15–20 E5-18 Various reporting formats. Moderate 30–35 P5-1 Multi-step income, retained earnings. Moderate 30–35 P5-2 Single-step income, retained earnings, periodic inventory. Simple 25–30 P5-3 Irregular items. Moderate 30–40 P5-4 Multiple- and single-step income, retained earnings. Moderate 45–55 P5-5 Irregular items. Moderate 20–25 P5-6 Retained earnings statement, prior period adjustment. Moderate 25–35 P5-7 Income statement, irregular items. Moderate 25–35...
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CHAPTER 5 - CHAPTER 5 Income Statement and Related...

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