ACCT HW

acct-hw_answer_sheet.xls

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#1 & 2

Problem #1
Date	Accounts	Debit	Credit	Choose from the account titles below (not all accounts will be used)
01/14/09	Account Title	Amount		Bonds Payable
	Account Title		Amount	Cash
	Account Title		Amount	Cash Dividends
				Cash Dividends Payable
01/29/09	Account Title	Amount		Common Stock
	Account Title		Amount	Common Stock Dividends Distributable
	Account Title		Amount	Discount on Bonds Payable
				Dividend Revenue
07/01/09	Account Title	Amount		Gain on Retirement of Bonds
	Account Title		Amount	Gain on Sale of Stock Investments
	Account Title		Amount	Interest Expense
				Interest Payable
				Land
				Loss on Retirement of Bonds
Problem #2				Loss on Sale of Stock Investments
Date	Accounts	Debit	Credit	Market Adjustment - Available for Sale
02/28/09	Account Title	Amount		Market Adjustment - Trading
	Account Title		Amount	Organization Expense
				Paid-in Capital from Treasury Stock
06/30/09	Account Title	Amount		Paid-in Capital in Excess of Par Value
	Account Title		Amount	Premium on Bonds Payable
	Account Title		Amount	Retained Earnings
				Stock Dividends
08/31/09	Account Title	Amount		Stock Investment Revenue
	Account Title	Amount		Stock Investments
	Account Title	Amount		Treasury Stock
	Account Title		Amount	Unrealized Gain - Equity
				Unrealized Gain - Income
				Unrealized Loss - Equity
				Unrealized Loss - Income

#3

(a)

Year

Total

Preferred

Common

(b)

Date

Accounts

Debit

Credit

2011

5,000

Amount

12/30/09

Account Title

Amount

Choose from the account titles below (not all accounts will be used)

2012

15,000

Amount

Account Title

Amount

Bonds Payable

2013

35,000

Amount

Cash

Cash Dividends

Cash Dividends Payable

Common Stock

Common Stock Dividends Distributable

Discount on Bonds Payable

Dividend Revenue

Gain on Retirement of Bonds

Gain on Sale of Stock Investments

Interest Expense

Interest Payable

Land

Loss on Retirement of Bonds

Loss on Sale of Stock Investments

Market Adjustment - Available for Sale

Market Adjustment - Trading

Organization Expense

Paid-in Capital from Treasury Stock

Paid-in Capital in Excess of Par Value

Premium on Bonds Payable

Retained Earnings

Stock Dividends

Stock Investment Revenue

Stock Investments

Treasury Stock

Unrealized Gain - Equity

Unrealized Gain - Income

Unrealized Loss - Equity

Unrealized Loss - Income

#4 & 5

Problem #4
Date	Accounts	Debit	Credit
06/30/09	Account Title	Amount		Choose from the account titles below (not all accounts will be used)
	Account Title		Amount	Bonds Payable
	Account Title		Amount	Cash
				Cash Dividends
12/14/09	Account Title	Amount		Cash Dividends Payable
	Account Title		Amount	Common Stock
	Account Title		Amount	Common Stock Dividends Distributable
				Discount on Bonds Payable
01/14/10	Account Title	Amount		Dividend Revenue
	Account Title		Amount	Gain on Retirement of Bonds
				Gain on Sale of Stock Investments
				Interest Expense
				Interest Payable
				Land
Problem #5 (a)				Loss on Retirement of Bonds
Date	Accounts	Debit	Credit	Loss on Sale of Stock Investments
12/31/08	Account Title	Amount		Market Adjustment - Available for Sale
	Account Title	Amount		Market Adjustment - Trading
	Account Title		Amount	Organization Expense
				Paid-in Capital from Treasury Stock
				Paid-in Capital in Excess of Par Value
Problem #5 (b)				Premium on Bonds Payable
Date	Accounts	Debit	Credit	Retained Earnings
06/29/09	Account Title	Amount		Stock Dividends
	Account Title		Amount	Stock Investment Revenue
	Account Title		Amount	Stock Investments
	Account Title		Amount	Treasury Stock
				Unrealized Gain - Equity
				Unrealized Gain - Income
				Unrealized Loss - Equity
				Unrealized Loss - Income

#6 & 7

Problem #6 (a)
Date	Accounts	Debit	Credit
06/30/09	Account Title	Amount						Choose from the account titles below (not all accounts will be used)
	Account Title		Amount					Bonds Payable
								Cash
07/31/09	Account Title	Amount						Cash Dividends
	Account Title		Amount					Cash Dividends Payable
								Common Stock
08/31/09	Account Title	Amount						Common Stock Dividends Distributable
	Account Title	Amount						Discount on Bonds Payable
	Account Title		Amount					Dividend Revenue
								Gain on Retirement of Bonds
09/30/09	Account Title	Amount						Gain on Sale of Stock Investments
	Account Title		Amount					Interest Expense
	Account Title		Amount					Interest Payable
								Land
Problem #6 (b)				Calculation for #6 (b)				Loss on Retirement of Bonds
Date	Accounts	Debit	Credit		Shares	Cost	Market	Loss on Sale of Stock Investments
12/30/09	Account Title	Amount		Carter				Market Adjustment - Available for Sale
	Account Title		Amount	BOD				Market Adjustment - Trading
				Williams				Organization Expense
								Paid-in Capital from Treasury Stock
Problem #7				Totals				Paid-in Capital in Excess of Par Value
Date	Accounts	Debit	Credit					Premium on Bonds Payable
12/31/08	Account Title	Amount						Retained Earnings
	Account Title		Amount					Stock Dividends
								Stock Investment Revenue
06/14/09	Account Title	Amount						Stock Investments
	Account Title		Amount					Treasury Stock
								Unrealized Gain - Equity
12/30/09	Account Title	Amount						Unrealized Gain - Income
	Account Title		Amount					Unrealized Loss - Equity
								Unrealized Loss - Income

#8

Momma Corporation
Statement of Cash Flows
For the Year Ended December 31, 2013
Cash Flows from (for) Operating Activities
Item		Amount
Item	Amount
Item	Amount
Item	Amount
Item	Amount
Item	Amount
Item	Amount
Item	Amount	Subtotal
Net Cash from (for) Operating Activities		Total
Cash Flows from (for) Investing Activities
Item	Amount
Item	Amount
Item	Amount
Net Cash from (for) Investing Activities		Total
Cash Flows from (for) Financing Activities
Item	Amount
Item	Amount
Item	Amount
Net Cash from (for) Financing Activities		Total
Item		Total
Item		Amount
Item		Total
Noncash Investing and Financing Activities (if any)

#9

	Ratio	Sample Formatting	Answers	Computations
a.	Current Ratio	xx.xxx	Amount
b.	Acid-test (quick ratio)	xx.xxx	Amount
c.	Receivables Turnover	xx.xxx	Amount
d.	Inventory Turnover	xx.xxx	Amount
e.	Profit Margin	xx.xxx%	Amount
f.	Asset Turnover	xx.xxx	Amount
g.	Return on Assets	xx.xxx%	Amount
h.	Return on Common Stockholders' Equity	xx.xxx%	Amount
i.	Earnings per Share	$ x.xx	Amount
j.	Price-Earnings Ratio	xx.xxx	Amount
k.	Payout Ratio	xx.xxx%	Amount
l.	Debt to Total Assets Ratio	xx.xxx%	Amount
m.	Times Interest Earned Ratio	xx.xxx	Amount
Note:	I have already preformatted the cells in the Answers column for you, but you can use the sample formatting column as a guide in case you erase the formatting in the Answers column. Show your work in the Computations column. Write your response to the short-answer question anywhere on this spreadsheet.