Accounting home work help 5 problems

profilecode911
week4practice.xls
Home>Business & Finance homework help>Accounting homework help>Accounting home work help 5 problems

General Instructions

Instructions for the Microsoft Excel Templates
Detail and information on Excel is contained within the manual.
Striking the "F1" key or following the path "Windows>Excel Help" will invoke the Office Assistant
and bring up one of several help menus.
Type your name into the cell "D5". This will be copied by formula to the rest of the pages as required.
Type the due date of your problem into cell "I5". This will be copied by formula to the rest of the pages as required.
Type the instructor's name into cell "D6". This will be copied by formula to the rest of the pages as required.
Type the course identifier into cell "I6". This will be copied by formula to the rest of the pages as required.
The problem is identified for you in cell "B7".
In "DATE" cells enter the date in any of several formats and Excel will format it correctly.
If more than one page is preformatted into the problem, page breaks are preset and formulas are
set to copy the header into the remaining pages.
Place the proper account title in the cell where the word "ACCOUNT" appears on the template.
Place the amount in the cell where the word "AMOUNT" appears on the template. A formula may be placed in some of these cells.
Enter a number like 914 to signify units or gallons where the word "NUMBER" appears.
Write a formula into cells where the word "FORMULA" appears. In these cells, an amount calculated outside of Excel can be entered into Excel if desired.
Place the explanation for the entry in the cell where the word "EXPLANATION" appears on the template.
Insert the account number where "ACCT #" appears on the template during posting.
Insert the journal reference where "JOURN #" appears on the template during posting.
Insert the title in the cell where "TITLE" appears on the template.
The print area is defined to fit onto 8 1/2" X 11" sheets in portrait or landscape mode as required.
The gray filled cells define the perimeter of the problem and the print area.
The problem is formatted for whole dollars with comma separations (no cents) except where required.
The display may have "Freeze Pane" invoked so column titles remain visible during data entry.
Negative values may be shown as ($400) vice -$400.
Enter a string like: ($259,417 X 12 months) + (0.3651 X 5,434,631) where the word TEXT appears.

Chapter 13 Comp Do It Prob 1&2

Name:
Course:
Date:
Chapter 13 Comprehensive Do It! Problems 1 & 2
Financial Accounting, 7th Edition by Weygandt, Kieso, and Kimmel
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Chapter 13 Comprehensive Do It! Problems 1 & 2, The income statement for the year ended December 31, 2011, for John Kosinski Manufacturing Company contains the following condensed information.
JOHN KOSINSKI MANUFACTURING COMPANY
Income Statement (Partial)
For the Year Ended December 31, 2011
Revenues $6,583,000
Operating Expenses (excluding depreciation) $4,920,000
Depreciation Expense 880,000 5,800,000
Income Before Income Taxes 783,000
Income Tax Expense 353,000
Net Income $430,000
Included in operating expenses is a $24,000 loss resulting from the sale of machinery for $270,000 cash. Machinery was
purchased at a cost of $750,000
The following balances are reported on Kosinski's comparative balance sheets at December 31:
JOHN KOSINSKI MANUFACTURING COMPANY
Comparative Balance Sheet (Partial)
December 31,
2011 2010
Cash $672,000 $130,000
Accounts Receivable 775,000 610,000
Inventories 834,000 867,000
Accounts Payable 521,000 501,000
Income tax expense of $353,000 represents the amount paid in 2011. Dividends declared and paid in 2011 totaled $200,000
Instructions:
1 - Prepare a statement of cash flows using the indirect method.
JOHN KOSINSKI MANUFACTURING COMPANY
Statement of Cash Flows - Indirect Method
For the Year Ended December 31, 2011
Cash flows from operating activities
Net income Amount
Adjustments to reconcile net income to cash provided by operating activities:
Title Amount
Title Amount
Title Amount
Title Amount
Title Amount Formula
Title Formula
Cash flows from investing activities
Title Amount
Title Amount
Title Formula
Cash flows from financing activities
Title Amount
Net increase in cash Formula
Cash at beginning of period Amount
Cash at end of period Formula
2 - Prepare a statement of cash flows using the direct method.
JOHN KOSINSKI MANUFACTURING COMPANY
Statement of Cash Flows - Direct Method
For the Year Ended December 31, 2011
Cash flows from operating activities
Cash receipts from customers Amount
Cash payments
Title Amount
Title Amount Formula
Title Formula
Cash flows from investing activities
Title Amount
Title Amount
Title Formula
Cash flows from financing activities
Title Amount
Title Formula
Title Amount
Title Formula
Direct Method Computations:
Computation of cash receipts from customers:
Title Amount
Title Amount
Title Formula
Computation of cash payments for operating expenses
Title Amount
Title Amount
Title Amount
Title Amount
Title Formula
&CFileName: &F, Tab: &A, Page &P of &N, &D, &T

Exercise E13-4 (2)

Name:
Course:
Date:
Exercise E13-4, Prepare the operating activities section—indirect method.
Financial Accounting, 7th Edition by Weygandt, Kieso, and Kimmel
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercise E13-4, Villa Company reported net income of $195,000 for 2011. Villa also reported depreciation expense of
$45,000 and a loss of $5,000 on the sale of equipment. The comparative balance sheets show a decrease in accounts
receivable of $15,000 for the year, an $17,000 increase in accounts payable, and a, $4,000
decrease in prepaid expenses.
Instructions:
Prepare the operating activities section of the statement of cash flows for 2011. Use the indirect method.
VILLA COMPANY
Partial Statement of Cash Flows
For the Year Ended December 31, 2011
Cash flows from operating activities
Net income Amount
Adjustments to reconcile net income to net cash provided by operating activities
Account title Amount
Account title Amount
Decrease in accounts receivable 15,000
Account title Amount
Account title Amount 15,000
Net cash provided by operating activities Formula
&CFileName: &F, Tab: &A, Page &P of &N, &D, &T

Exercise E13-13

Name:
Course:
Date:
Exercise E13-13, Compute cash flow from operating activities—direct method.
Financial Accounting, 7th Edition by Weygandt, Kieso, and Kimmel
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Exercise E13-13, The 2011 accounting records of Verlander Transportation reveal the following transactions and events:
Payment of interest $10,000 Collection of accounts receivable $182,000
Cash sales $48,000 Payment of salaries and wages $53,000
Receipt of Dividends Revenues $18,000 Depreciation expense $16,000
Payment of income taxes $12,000 Proceeds from sale of vehicles $12,000
Net income $38,000 Purchase of equipment for cash $22,000
Payment of accounts payable for merchandise $115,000 Loss on sale of vehicles $3,000
Payment of dividends $14,000
Payment for land $74,000 Payment of operating expenses $28,000
Instructions:
Prepare the cash flows from operating activities section using the direct method. (Not all of the above items will be used.)
Cash flows from operating activities
Cash receipts from
Title Amount
Title Amount
Formula
Cash payments
Title Amount
Title Amount
Title Amount
Title Amount
Title Amount Formula
Net cash provided by operating activities Formula
&CFileName: &F, Tab: &A, Page &P of &N, &D, &T

Problem P13-3B

Name:
Course:
Date:
Problem P13-3B, Prepare the operating activities section—indirect method.
Financial Accounting, 7th Edition by Weygandt, Kieso, and Kimmel
Solving Financial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse
Problem P13-3B, The income statement of Rosenthal Company is presented here:
ROSENTHAL COMPANY
Income Statement
For the Year Ended December 31, 2011
Sales $5,400,000
Cost of Goods Sold
Beginning inventory $1,780,000
Purchases 3,430,000
Goods available for sale 5,210,000
Ending inventory 1,900,000
Cost of goods sold 3,310,000
Gross profit $2,090,000
Operating expenses
Depreciation expense 105,000
Amortization expense 20,000
Other expenses 945,000 1,070,000
Net income $1,020,000
Additional information:
1. Accounts receivable decreased by $320,000 during the year, and inventory increased $120,000
2. Prepaid expenses increased $175,000 during the year.
3. Accounts payable to merchandise suppliers increased $50,000 during the year.
4. Accrued expenses payable increased $155,000 during the year.
Instructions:
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2011, for Rosenthal Company, using the indirect method.
ROSENTHAL COMPANY
Partial Statement of Cash Flows
For the Year Ended December 31, 2011
Cash flows from operating activities
Net income Amount
Adjustments to reconcile net income to net cash provided by operating activities
Title Amount
Title Amount
Title Amount
Title Amount
Title Amount
Title Amount
Title Amount Formula
Net cash provided by operating activities Formula
&CFileName: &F, Tab: &A, Page &P of &N, &D, &T

Sheet5