ATTEMPTED SOLUTION (ASSIGN # 1)
Q#1
Contract price
Cost to date
Estimated cost to complete
Total cost
Expected gross profit
Percentage of completion (18/24)
Profit recognized to date
Profit previously recognized
Gross profit in 2015
$3,000,000
$1,800,000

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
ASSIGNMENT #1 DUE: January 28, 2016
Dr. G. Ansong
Question #1 (10marks).
NOISOME Co. uses the PC method. On Jan. 10, 2014 NOISOME began work on a $3,000,000
construction contract. At the inception date,

ATTEMPTED SOLUTION
Q#1
a.
Cost of machine sold (given)
Less: Acc. Dep
BV of equipment sold
Less: Cash received
Loss on sale (given)
$40,000
?
?
(26,000)
$4,000
So BV = 30,000, and ACC. Dep of equipment sold is $10,000
Beginning Acc. Dep = BAD; Dep. Expens

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
ASSIGNMENT #2 DUE: February 04, 2016
Dr. G. Ansong
Question #1 (10marks).
Paragon Company is preparing CFS for the year ended December 31, 2015. It has the following
balances:
Machinery
Accumulated Dep

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
ASSIGNMENT #3 DUE: March 10, 2016
Dr. G. Ansong
Question #1 (30marks).
Consider a non-cancellable lease beginning December 31, 2010 with annual MLPs (minimum
lease payments) of $9,000 made at the end of

FORECASTING AND VALUATION ACCT 3343
1. Model FCF A set of equations to forecast values for each component of FCF. Each
equation uses an assumption, often in the form of a ratio.
2. Set the model assumptions and compute the results.
3. Refine the model
Add

SOLUTIONS TO SELECTED PROBLEMS IN CHP #11
Q11-1.
Par value share is share that has a face value printed (identified) on the share
certificate.
From an accounting standpoint, the par value of the common shares is the amount
added to the share capital porti

SOLUTIONS TO SELECTED PROBLEMS IN CHP #4
Q4-4.
a. Investing; outflow.
b. Investing; inflow.
c. Financing; outflow.
d. Operating (direct method, not shown separately under indirect method); inflow.
e. Financing; inflow.
f.
Operating (direct method, not sho

SOLUTIONS TO SELECTED PROBLEMS IN CHP # 1
P1-35. (30 minutes)
a.
GENERAL, INC.
Income Statement
For Year Ended May 29, 2014
($ millions)
Sales.
Cost of goods sold.
Gross profit.
Expenses.
Net income.
$14,880.2
8,926.7
5,953.5
4,150.0
$ 1,803.5
GENERAL, IN

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
ASSIGNMENT #4 DUE: March 09, 2017
Dr. G. Ansong
All assignments must be type-written in MS-WORD and/or EXCEL.
DUE IN CLASS!
Question # 1
Use the data set of Q#1 of the MIDTERM EXAM
a. Prepare CFS using

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
SOLUTION TO ASSIGNMENT #2 DUE: January 19, 2017
Dr. G. Ansong
Question #1.
a.
Accounts Receivable:
Beg +
Sales 127,000 +
Sales -
Cash received =
End
318,000
=135,000
Sales = $326,000
b.
Salary Payable:

SOLUTIONS TO SELECTED PROBLEMS IN CHP #5
M5-16 (20 minutes)
SENTOSA STORES
Common-size Income Statement
Year ended:
January 28, 2015
Sales.
98.0%
Net credit card revenues.
2.0%
Total revenues
100.0%
Cost of sales
68.5%
Selling, general and administrative

SOLUTIONS TO SELECTED PROBLEMS IN CHP #2
M2-14. (10 minutes)
Use the accounting equation.
a. Cash
$ 8,000
Accounts receivable
23,000
Supplies
9,000
Equipment
138,000
178,000
Accounts payable
$ 11,000
Share Capital
110,000
Retained earnings
$ 57,000
b. Ret

SOLUTIONS TO SELECTED PROBLEMS IN CHP #7
M7-17. (15 minutes)
a. Purchases are understated. If ending inventory is correctly valued, cost of goods
sold will also be understated and current income will be overstated. There would be
no effect in the followin

SOLUTIONS TO SELECTED PROBLEMS IN CHP #3
P3-44. (40 minutes)
TRUEMAN CONSULTING INC.
Income Statement
For the Year Ended December 31, 2015
a.
Revenue
Service fees earned
$58,400
Expenses
Rent expense
$12,000
Salaries expense
33,400
Supplies expense
4,700

ACCT 3343
Investment
Passive (small investment, less than 20%)
Method of accounting
HTM; Trading; AFS
Significant influence (between 20% and 50%)
EQUITY METHOD
Control (above 50%)
Method of accounting
CONSOLIDATION
Illustrating the Equity Method
On Jan 1,

OFF B/S FINANCING
Assets or Liabilities are not reported on the balance sheet
Operating Lease for the Lessee
The economic substance of the lease transaction requires a capital lease accounting.
Convert an operating lease into a capital for analysis
Note t

Dr. G Ansong
ACCT 3343.2 ASSIGNMENT # 5 DUE: March 24, 2016
Question # 1 (40 marks)
December 31, 2010 is t=0. Sales = $2,000; Dep =$240; NOI = $240.
December 31,
2011
2012
2013 2014
Growth rate (g)
20%
10%
10% 5%
80
90
90
0
DEP
Changes in Dep afterwards a

Dr. G Ansong
ACCT 3343.2 ASSIGNMENT # 4 DUE: March 17, 2016
Question # 1 (20 marks)
Consider the following data for intercorporate investments:
Year
Shares Purchased (Sold)
Price/Share
Jan 1
Price/Share
Dec 31
20x1
200
$80
$70
20x2
(70)
60
80
All sales an

SUGGESTED SOLUTIONS TO CHAPTERS 4 & 5.
CHP#4
CHP#5
CHP#6
1
C
B
B
2
C
A
B
3
C
A
C
4
B
B
C
5
B
A
C
6
C
B
C
7
A
C
A
8
A
C
A
9
A
C
10
C
A
11
A
C
12
B
B
13
C
C
14
B
A
15
A
B
16
C
C
17
C
B
18
B
B
19
C
A
20
A
A
21
C
22
B
23
C

SUGGESTED SOLUTIONS TO CHAPTERS 1,2 & 3.
CHP#1
CHP#2
CHP#3
1
B
C
C
2
A
A
B
3
B
A
B
4
C
C
B
5
A
A
C
6
B
B
A
7
C
C
A
8
C
C
C
9
A
B
10
B
C
11
C
B
12
B
C
13
A
B
14
B
B
15
C
A
16
A
A
17
B
B
18
C
A
19
B
20
C

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING
ASSIGNMENT # 5 Due: March 16, 2017
Dr. G. Ansong
Office Location
SB 307
Question #1 (20marks).
Consider a non-cancellable lease beginning December 31, 2010 with annual MLPs
(minimum lease payments) of $24,000 ma

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
ASSIGNMENT #3 DUE: Feb 02, 2017
Dr. G. Ansong
All assignments must be type-written in MS-WORD and/or EXCEL.
DUE IN CLASS!
Question # 1
P5-41
Only parts a, b, and d.
Question # 2
P5-43
Only parts a/ and

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
ASSIGNMENT #6 DUE: March 23, 2017
Dr. G. Ansong
All assignments must be type-written in MS-WORD and/or EXCEL.
DUE IN CLASS!
Question # 1
Use the data set of P4-46
a. Prepare CFS using the DIRECT method

Instructor
ACCT 3343.2 FINANCIAL ACCOUNTING ANALYSIS
SOLUTION TO ASSIGNMENT #4 DUE: March 09, 2017
Dr. G. Ansong
Question # 1
a.
DIRECT method
Sales
Increase in A/R
Cash collections from customers
Cash Disbursements:
CGS
Increase in Inv
Increase in A/P
Fo

SOLUTIONS TO SELECTED PROBLEMS IN CHP #9
M9-25 (10 minutes)
a. Gain on Bond Retirement: In the other (nonoperating) revenues and expenses section
unless it meets the tests for extraordinary treatment (e.g., unusual and infrequent)
b. Discount on Bonds Pay