errata_fabook

errata_fabook - BUSI 1004 Fall 2010 ERRATA Textbook Page...

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BUSI 1004 - Fall 2010 ERRATA - Textbook Page Date Nature of error 31 Oct 5 Solution to Problem 1-7: The solution included the private investment of $2,400 as the opening Retained Earnings at the beginning of 20x8. This was incorrect and the opening Retained Earnings at the beginning of 20x8 should have been '0'. Revised solution is on page 2 of this document. 71 Oct 14 Solution to Problem 2-5 - Part 1: In the closing balances section, the ending assets should read $128,000 (and not $124,000), resulting in an ending Shareholders' Equity of $115,000 (and not $111,000) 126 Oct 14 Solution to Problem 3-6 The solution uses a method for recording inventory that will actually be covered in Chapter 4. The solution has been rewritten and is on pages 3- of this document.
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Revised Solution to Problems With Solutions 1-7 (page 31) Tron Inc. Statement of Retained Earnings For the year ended December 20x9 Retained Earnings, Beg. 20x9 $1,860 Net Income for the year 20x9 4,270 Less Dividends - Retained Earnings, End 20x9 $6,130 Extra Work: Retained Earnings, Beg. 20x8 $-0- Net Income 2,740 Dividends 880 Retained Earnings, End 20x8 $1,860
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Revised Solution to Problem 3-6 Part (a) Assets BALANCE SHEET Liabilities & Equity Cash Accts. Receivable Accounts Payable 1 20,000 2,000 2
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This note was uploaded on 01/26/2012 for the course BUSI 1004 taught by Professor Ouafasakka during the Spring '11 term at Carleton CA.

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errata_fabook - BUSI 1004 Fall 2010 ERRATA Textbook Page...

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