1. Financial information on Division P of the ARP Corporation is provided below. ARPs
management is considering eliminating Division P. They have asked your opinion on the
matter based on the following information:
Cost of Sales
Instructions for Lecture Evaluation 1
This is the first of two lecture evaluations you are asked to provide for this course. The assignment is
worth 5 points which are largely awarded based on whether your evaluation is complete. You should
submit these e
2015 Annual Report
Notice of 2016 Annual Meeting & Proxy Statement
To our shareholders:
As we close out 2015, I want to thank you for your investment and
condence in Texas Instruments.
It was a good year and our nancial results speak well of our company.
Chapter 2/3 Material
Ch. 2 Creating the Financial Statements
Our plan is to (re)introduce the balance sheet, and then
We will then introduce the income statement, and then the
We will then delve a
Chapter 1 Material
Financial Accounting Provides Information about
How the firm performed and how it is financed.
How it is investing funds to produce profits.
Balance Sheet shows mix of assets.
Cash flow statement reflects current investments
Assigned SSP Problems and Solutions 09/11 Class
(Bullseye Corporation; dual effects of transactions on balance sheet equation
and journal entries.) (amounts in millions of US$)
Firms' Auditor Choices Dwindle
By Diya Gullapalli
21 June 2005
The Wall Street Journal
THE REDUCTION IN the number of top-tier accounting firms, to the Big Four from five earlier this
decade, is making it difficult for many large co
Homework 2 ACCT 6201 Fall 2015 Due 10/05 At class time next class.
Below are selected information from the 2011 and 2012 financial statements of Annas, Inc.
Note that the balance sheet information (as well as the information about cash receipts and
First Hand-in Problem Set
ACCT 6201 - Fall 2016
Bob-Os Bazookas is a merchandising and rental firm that provides equipment for
use in crowd control, often for use at Lincoln Financial Field in Philadelphia
(where the Philadelphia Eagles play th
Homework 2 Fall 2016 ACCT 6201 Due in Class October 3
Below are selected information from the 2012 and 2013 financial statements of Mike Leach, Inc.
(The firm has a long Ticker Symbol, but its SNOTHEAD). Note that the balance sheet information
Management Fraud and Audit Risk
True / False Questions
1. Frauds are unintentional misstatements or omissions of accounts or
disclosures in financial statements.
2. The nature of extended procedures for fraud detection is limited to
EXERCISE 15-2 (1520 minutes)
Cash (80,000 X $5).
Common Stock (80,000 X $1).
Paid-in Capital in Excess of Stated
(80,000 X $4)
Cash (5,000 X $108).
Accounting Changes and Error Analysis
EXERCISE 22-1 (1015 minutes)
(a) The net income to be reported in 2018, using the retrospective approach,
would be computed as follows:
Income before income tax
Income tax (35% X $700,000)
Accounting for Income Taxes
EXERCISE 19-2 (1520 minutes)
(a) Pretax financial income for 2016
Excess of tax depreciation over book depreciation
Rent received in advance
(b) Income Tax Expense.
Deferred Tax Asset.
Income Taxes Pay
Dilutive Securities and Earnings Per Share
EXERCISE 16-3 (1020 minutes)
Conversion recorded at book value of the bonds:
Premium on Bonds Payable.
Preferred Stock (500 X 20 X $50).
Paid-in Capital in Excess of Par
BRIEF EXERCISE 14-14
(a) Fair Value Book Value = $17,500 $16,000 = $1,500 unrealized holding
(b) Unrealized Holding Gain or LossEquity. 1,500
Note: If the fair value change was due to non-credit
Full Disclosure in Financial Reporting
EXERCISE 24-1 (1015 minutes)
(a) The issuance of common stock is an example of a subsequent event
which provides evidence about conditions that did not exist at the
balance sheet date but arose subsequent
Accounting for Pensions and Postretirement Benefits
EXERCISE 20-1 (1520 minutes)
(a) Computation of pension expense:
Interest cost ($500,000 X .10).
Expected return on plan assets.
Prior service cost amortization.
General Characteristics of Bonds
Promise to pay a stated amount at a
specified maturity date
Require periodic interest as a stated
percentage of the face amount
Represents a liability to issuing corporation
(ISSUER) and an asset to
Leases not meeting one of the 4 criteria
Ownership is retained by the lessor
Periodic rental payments are:
Rent Revenue to Lessor
Rent Expense to Lessee
UNIT 3 - LECTURE 2