Type:
Solution Manual
Resource:
Introduction to Financial Accounting
Edition:
11th Edition
Author(s):
Charles T. Horngren
CONTENTS Page General Comments................................................................................................................. Supplements to Accompany Introduction to Financial Accounting, 11/E ............................ Sample Assignment Schedules .............................................................................................. Comments on Choices of Problems in Each Chapter ............................................................ Linkage of Problems in the Eleventh Edition to Those in the Tenth Edition ........................ Conducting the Course........................................................................................................... Presentation of Solutions in Class.......................................................................................... Returning Examinations......................................................................................................... Key Amounts from Solutions to Selected Problems..............................................................
II III V VII XIII XIX XX XX XXI
Solutions by Chapter 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.
Accounting: The Language of Business ................................................................... Measuring Income to Assess Performance ................................................................ Recording Transactions ............................................................................................ Accrual Accounting and Financial Statements .......................................................... Statement of Cash Flows ........................................................................................... Accounting for Sales.................................................................................................. Inventories and Cost of Goods Sold .......................................................................... Long-Lived Assets ..................................................................................................... Liabilities and Interest................................................................................................ Stockholders’ Equity.................................................................................................. Intercorporate Investments and Consolidations......................................................... Financial Statement Analysis.....................................................................................
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1 27 68 114 156 192 238 291 334 395 444 483
GENERAL COMMENTS Please read the textbook preface before examining this material. The scope and depth of a particular assignment schedule largely depend upon the instructor’s personal evaluation of the relative importance of various topics. In turn, his or her evaluation will be influenced by students’ backgrounds and other courses in the curriculum. As the preface indicates, instructors may wish to rely heavily or exclusively on real company problems. The materials enable the instructor to cover the essentials by using real-life numbers and organizations. Students are naturally more enthusiastic about the subject matter and the course when they can experience actual uses. Please give serious consideration to covering some topics that are not yet found in all introductory accounting courses, especially consolidated statements (Chapter 11). Resistance to the inclusion of consolidations in a basic course is probably a carryover from decades of regarding consolidations as being “advanced” accounting material. However, the fundamentals of consolidated statements are not too hard for basic courses and make the basic course more relevant by linking the course more closely to what the students are reading in the business press and in annual reports. There are several supplements to Introduction to Financial Accounting, both for the instructor and for students. These are listed next, followed by some suggested assignment schedules. Comments on how to choose among the various problems in each chapter follow the sample assignment schedules. A linking of problems in the tenth edition with those in this eleventh edition follows. This will help users of the tenth edition find problems in the eleventh edition similar to those used previously. We then provide some tips that have served us well in teaching financial accounting— tips on conducting the course, presentation of solutions in class, and returning examinations. Finally, we present Key Amounts from Suggested Solutions that can be used by students to provide a partial check on their work.
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SUPPLEMENTS TO ACCOMPANY INTRODUCTION TO FINANCIAL ACCOUNTING, ELEVENTH EDITION, BY HORNGREN/SUNDEM/ELLIOTT/PHILBRICK
Supplements for Instructors Instructor’s Manual Contains the following elements for each chapter of the text: chapter overviews, chapter outlines organized by objectives, teaching tips, and chapter quizzes derived from textbook exhibits. Solutions Manual Solutions are provided for all the end-of-chapter assignment materials. The Solutions Manual is available for down on the Instructor Resource Center (IRC) and in MyAccountingLab. Test Item File The Test Item File includes more than 1500 questions. Choose from a variety of question types including multiple choice, true/false, exercises, comprehensive problems, short answer problems, and critical thinking essay questions. Each test item is tied to the corresponding learning objective and has an assigned difficulty level. The Test Item File is available in the TestGen testing software shell, and the files are also delivered in Microsoft Word on the IRC as well as in MyAccountingLab. TestGen testing software, by Tamarack Software, Inc., is an easy-to-use computerized testing program that can create exams, evaluate, and track student results. TestGen also provides online testing capabilities. Test items are drawn from the Test Item Files. PowerPoint Presentations PowerPoint presentations are available for each chapter of the text on the IRC for download. These presentations use colorful graphics, outlines of chapter material, additional examples, and graphical explanations of difficult topics. Instructors have the flexibility to add slides and/or modify the existing slides to meet the course’s needs.
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MyAccountingLab MyAccountingLab is web-based tutorial and assessment accounting software that not only gives students more “I Get It” moments, but gives instructors the flexibility to make technology an integral part of their course. It’s also an excellent supplementary resource for students. View a guided tour of MyAccountingLab at http://www.myaccountinglab.com/tours/instructor-tours The flash-based eText allows students to access their textbook from anywhere. In addition, students have access to all of the supplements listed below.
Supplements for Students: Spreadsheet Templates Enhanced spreadsheets include “built in” cell comments to help the students complete the template. Check figures and “alerts” cause the appearance of cells to change when the student calculates the wrong answer. Solutions are available on the IRC and MyAccountingLab to the instructor upon adoption of the text.
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SAMPLE ASSIGNMENT SCHEDULES The sample assignment schedules do not include any financial statement research, Starbucks, or Internet problems that appear at the end of the assignment materials in every chapter. We urge you to consider using some of these problems instead of or in addition to the more traditional exercises and problems listed. One Sequence This sequence is designed for one semester of 13 weeks with three 50-minute meetings per week and one holiday. Longer semesters permit either more intensive or extensive coverage, depending on instructor preferences. Problem Assignments: No. of Class Meeting 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
Chapter in Text Introduction Ch 1 − Balance Sheets Ch 2 − Income Measurement Review Ch 2 Ch 3 − Journals & Ledgers Review Ch. 3 Review Ch. 3 Ch 4 − Accrual Accounting Review Ch 4 Review Ch 4 Examination** Ch 5 − Cash Flow statement Review Ch 5 Review Ch 5 Ch 6 − Receivables Review Ch 6 Review Ch 6 Ch 7 − Inventories Review Ch 7 Review Ch 7 Ch 8 – Long-Lived Assets Review Ch 8 Review Ch 8 Ch 9 − Liabilities
Normal: Based on Approximately Two Hours of Homework Per Session
Selected Additional Problems if Time Permits
See the Section that follows shortly, “COMMENTS ON CHOICES OF PROBLEMS IN EACH CHAPTER.” 35 (or 36 or 37 or 38 or 39) 41 or 45, 52 39, 48 33 35, 57, 59 (or 60) 53, 58 43 or 44 25, 27, 32 36 Any of 39–44 45, 50 51, 52 35 (or 37 or 38 or 39), 36, 40 22, 23, 29 24, 25, 47 (or 48) Any of 27, 44, 45 (or 46) 43 42, any of 51–54 49, 50, 53 45, 56 64, 70 42, 64 70, 71, 74 61, 80 34, 52, 54 47, 56, 57, 62 48, 59, 64 56, 61 (or 62 or 63) 52 (or 51), 68 (or 69), 71 54, 59 (or 57), 70 38, 39, 53
Note: Footnotes are on the following page.
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55 52, 58 65, 66, 73 46, 47 73, 75 84, 85 30, 36, 50, 51 63, 72 66, 80 28, 30, 37 Any of 31–33 40, 46 34, 36, 37
No. of Class Meeting 25 26 27 28 29 30 31 32 33 34 35 36 37 38
Problem Assignments: Normal: Based on Approximately Two Selected Additional Hours of Homework Problems if Time Per Session Permits 46–51, 79, 82 83, 85 58, 59, 63 60, 61, 69 66, 68, 71, 72 56, 75, 77
Chapter in Text Review Ch 9 Review Ch 9 Review Ch 9 Examination** Ch 10 − Stockholders’ Equity Review Ch 10 Review Ch 10 Ch 11 − Intercorporate Investments Review Ch 11 Review Ch 11 Ch 12 − Financial Statement Analysis Review Ch 12 Review Ch 12 Final examination**
50, 58, 60 68, 69,70 38, 44, 71 28, 30, 32 34, 44 53, 54 31, 45, 46 35, 36, 38, 56 39, 41, 42, 57
66 47 73 33, 41 45 55 51 (or 43) 52–55 47, 61, 62
_________________ *
Many instructors will wish to devote more time to the initial four chapters than indicated above. If so there is plenty of assignment material of all kinds that can be used. Furthermore, some of the problems do not necessarily have to be assigned in connection with a specific chapter.
** In subsequent sessions some instructors devote time to discuss tests. See page XXII of this preface to the solutions manual, “RETURNING EXAMINATIONS.” Other Sequences As the preface in the textbook indicates, instructors may wish to shuffle the sequence or omit some chapters, in whole or in part. Specifically, Chapters 10–12 may be studied in any order, after Chapter 9. In addition, instructors may omit portions of Chapters 9 and 10 without breaking the continuity. As you consider specific problems for each chapter, you may wish to consult the section, “COMMENTS ON CHOICES OF PROBLEMS IN EACH CHAPTER,” that follows immediately.
VI .