intermediate accounting chapter 5 answers excel

8/18/2019 Intermediate Accounting Chapter 5 Answers excel

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BE5-1Harding Corporation Trial Balance Dec. 31, 2014

Account Receivables $ 110,000.00

Inventory $ 290,000.00

$ 8,000.00

Patents $ 72,000.00

Prepaid Insurance $ 9,500.00

Accounts Payable $ 77,000.00

Cash $ 30,000.00

Answer to Question

Current !!et! D"t

Ca!# $ 30,000.00

ccount ecei%a"le $ 110,000.00

$ 8,000.00 $ 102,000.00

&n%entorie! $ 290,000.00

'repaid &n!urance $ 9,500.00

Total Current !!et! $ 431,500.00

BE5-3(utca!t Co)pan*Trial Balance Dec. 31, 2014

Prepaid Rent 5200

5+000

Unearned Fees 17000

39000

otes Receivable !"on#-ter$% 42000

Allo&ance 'ordoubt'ul account

e!!- lloance /ordou"t/ul account!

(ebt Invest$ent!)radin#%

"and !*eld 'orinvest$ent%



Answer to Question

ongter) in%e!t)ent!

Heldto)aturit* !ecuritie! 5+,000.00

ongter) note recei%a"le! 42,000.00

and #eld /or in%e!t)ent 39,000.00

Total &n%e!t)ent! 137,000.00

BE5-5Crane Corporation Trial Balance Dec. 31, 2014

21,000.00

+ood&ill 150,000.00

Prepaid Insurance 12,000.00

Patents 220,000.00Franchises 130,000.00

Answer to Question

oodill 150,000.00

'atent! 220,000.00

ranc#i!e! 130,000.00

Total intangi"le! 500,000.00

E,uity Invest$ents!)radin#%



BE5- T#o)a! Corporationdu!ted Trial Balance Dec. 31, 2014

Bond! 'a*a"le due in 3 *ear! 100,000.00

ccount! 'a*a"le 72,000.00

6ote! 'a*a"le 22,500.00

alarie! and age! 'a*a"le 4,000.00

&nco)e Tae! 'a*a"le 7,000.00

Answer to Question

Current lia"ilitie!

6ote! pa*a"le 22,500.00

ccount! pa*a"le 72,000.00

ccrued !alarie! 4,000.00

&nco)e tae! pa*a"le 7,000.00

Total current lia"ilitie! .............................. 105,500.00

BE5-. elating to B:58

6oncurrent lia"ilitie!

Bond! pa*a"le 400,000.00

'en!ion lia"ilit* 375,000.00

'ro%i!ion /or arrantie! 0

Total noncurrent lia"ilitie! 775,000.00



BE5-11toe Co)pan*;! Dece)"er 31, 2014

&n%e!t)ent in Co))on toc< 70,000.00

etained :arning! 114,000.00 Trade)ar<! 31,000.00

're/erred toc< 152,000.00

Co))on toc< 55,000.00

De/erred &nco)e Tae! 88,000.00

'aidin Capital in :ce!! o/ 'ar 174,000.00

6oncontrolling intere!t +3,000.00

Answer to Question

:=uit*

#ared Capital 're/erence 152,000.00

#ared Capital(rdinar* 70,000.00

#ared 're)iu) (rdinar* 174,000.00

etained :arning! 114,000.00

>inorit* &ntere!t +3,000.00



Total :=uit* 573,000.00

BE5-13

)e! Co)pan* reported 2014

6et inco)e 151,000.00

ccount! ecei%a"le increa!e 13,000.00

ccount! 'a*a"le increa!e 9,500.00

Depreciation epen!e 44,000.00

Answer to Question

Ca!# ?o! /ro) (perating cti%itie!

6et inco)e 151,000.00

du!t)ent! to reconcile net inco)e

'ro%ided "* operating acti%itie!

Depreciation :pen!e 44,000.00

&ncrea!e in account! rece 13,000.00

increa!e in account! pa* 9,500.00 40,500.00

6et ca!# pro%ided "* operating acti%itie! 191,500.00

BE5-15 relate! to B:514



&!!uance o/ ornidar* !#are! 147,000.00

'urc#a!e o/ trea!ur* !#are! 40,000.00

'a*)ent o/ ca!# di%idend 95,000.00

etire)ent o/ "ond! 100,000.00

6et ca!# u!ed "* @nancing 8,000.00



BE5-/Aoc# Corporation Trial Bala

Cash

"and

Patents

Accounts Receivable

Prepaid Insurance

Inventory

Answer to Question

Current !!et!

Cash

Accounts Receivable 90,000.00

4,000.00

Inventory

Prepaid Insurance

Total Current !!et!

BE5-0oell Co)pan*Trial Balan

Inventory

Buildin#

E,uip$ent

Allo&ance 'or(oubt'ul Account

E,uityInvest$ent!)radin#%

E,uityInvest$ent!)radin#%

Allo&ance 'or(oubt'ul Account

Accu$ulated(epreciation-

"and !held 'orinvest$ent%



"and

)i$berland

Answer to Question

'ropert*, plant, and e=uip

and

Building!

e!!- ccu)ulated depreci

:=uip)ent

e!!- ccu)ulated depreci

Ti)"erland

Total 'lant 'ropert*

BE5-'atric< Corporation du!te

'repaid ent

oodill

ranc#i!e ee! ecei%a"le

ranc#i!e!'atent!

Trade)ar<!

Answer to Question

&ntangi"le a!!et!

Capitalied de%elop)ent co!t!

oodill

ranc#i!e!

'atent!

Trade)ar<!

Total intangi"le a!!et!

Accu$ulated(epreciation- Buildin#



BE5-2da)! Co)pan* Trial Bala

ccount! 'a*a"le

'en!ion ia"ilit*

Di!count on Bond! 'a*a"le

nearned ent e%enue

Bond! 'a*a"le

alarie! and age! 'a*a"le

&ntere!t 'a*a"le

&nco)e tae! 'a*a"le

Answer to Question

Current lia"ilitie!

ccount! pa*a"le

nearned ent e%enue

age! pa*a"le&ntere!t pa*a"le

'ro%i!ion /or arrantie!

&nco)e tae! pa*a"le

Total current lia"ilitie!

BE5-1

Hat#orn Corporationdu!ted Trial B

etained :arning

Co))on toc<

Bond! 'a*a"le

'aidin Capital in :ce!! o/ 'ar Co))

oodill

ccu)ulated ot#er co)pre#en!i%e lo



6oncontrolling intere!t

Answer to Question

:=uit*

#are capitalordinar* !#are!

#are pre)iu)ordinar* !#are!

etained earning!

ccu)ulated ot#er co)pre#en!i%e in

>inorit* intere!t

Total e=uit*

BE5-1/Ae*!er Be%erage Co)pan*

6et inco)e

Di%idend! 'aid&ncrea!e in ccount! ecei%a"le

&ncrea!e in ccount! 'a*a"le

'urc#a!e o/ :=uip)ent Capital :pen

Depreciation :pen!e

&!!ue o/ note! pa*a"le

Answer to Question

4peratin# Activities

6et &nco)e

Depreciation :pen!e 4,000.00

&ncrea!e in account! rec 10,000.00

increa!e in account! pa* 7,000.00

6et ca!# pro%ided "* operating acti%it



Investin# Activities

'urc#a!e o/ e=uip)ent

inancing cti%itie!

&!!ue! note! pa*a"le

Di%idend!

6et Ca!# ?o /ro) @nancing

6et C#ange in ca!#

BE5-10>artine corporation enga

ale! o/ land and "uilding

'urc#a!e o/ trea!ur* !toc<

'urc#a!e o/ land

pa*)ent o/ ca!# di%idend

'urc#a!e o/ e=uip)ent

i!!uance o/ co))on !toc<

etire)ent o/ "ond!

Answer to Question

ale! o/ and and Building'urc#a!e o/ land

'urc#a!e o/ e=ui)ent

6et Ca!# pro%ided "* in%e!ting acti%it

BE5-1 relate! to B:514



ree Ca!# lo nal*!i!

6et Ca!# 'ro%ided "* operating acti%i

e!!- Purchase of equipment

purchase of land

dividends

Free Casho



ce Dec. 31, 2014

7,000.00

440,000.00

12,500.00

90,000.00

5,200.00

30,000.00

4,000.00

11,000.00

D"t

7,000.00

11,000.00

8+,000.00

30,000.00

5,200.00

139,200.00

e Dec. 31, 2014

12+,8+0.00

212,110.00

20,010.00

191,270.00

55,030.00



51,540.00

70,5+0.00

71,090.00

ent

70,5+0.00

212,110.00

51,540.00 1+0,570.00

191,270.00

20,010.00 171,2+0.00

71,090.00

473,480.00

d Trial Balance Dec. 31, 2014

1+,270.00

58,240.00

3,580.00

43,100.0037,0+0.00

14,340.00

58,240.00

43,100.00

37,0+0.00

14,340.00

152,740.00



ce Dec. 31, 2014

220,000.00

375,000.00

29,000.00

41,000.00

400,000.00

27,000.00

12,000.00

29,000.00

220,000.00

41,000.00

27,000.0012,000.00

0

29,000.00

329,000.00

lance Dec. 31, 2014

120,000.00

750,000.00

100,000.00

on toc< 200,000.00

55,000.00

! 150,000.00



35,000.00

750,000.00

200,000.00

120,000.00

o)e 150,000.00

35,000.00

955,000.00

40,000.00

5,000.0010,000.00

7,000.00

8,000.00

4,000.00

20,000.00

40,000.00

1,000.00

41,000.00



8,000.00

20,000.00

5,000.00

15,000.00

48,000.00

ed in t#e /olloing ca!# tran!action!

191,000.00

40,000.00

37,000.00

95,000.00

53,000.00

147,000.00

100,000.00

191,000.0037,000.00

53,000.00

101,000.00

6et ca!# pro%ided 400,000.00



400,000.00

53,000.00

37,000.00

95,000.00

215,000.00



:55

Current assets

Ca!# 231,950.00

ccount! recei%a"le net 341,950.00

&n%entor* loero/a%erageco!tor)ar 402,950.00

:=uit* in%e!t)ent! t 124,+50.00 144,+50.00Property plant and e,uip$ent

Building! net 574,+50.00

:=uip)ent net 1+4,+50.00

and #eld /or /uture u!e 179,+50.00

&ntangi"le a!!et!

oodill 81,950.00

Ca!# !urrender %alue o/ li/e in!urance 91,950.00

'repaid epen!e! 13,950.00

Current lia"ilitie!

ccount! pa*a"le 139,+50.00

6ote! pa*a"le due net *ear 12+,950.00'en!ion o"ligation 8+,+50.00

ent pa*a"le 50,950.00

're)iu) on "ond! pa*a"le 54,950.00

ongter) lia"ilitie!

Bond! pa*a"le 504,+50.00

toc<#older!E e=uit*

Co))on !toc<, $1.00 par, aut#oried

400,000 !#are!, i!!ued 291950

dditional paidin capital 1+1950

etained earning! F

Answer to Question

Current Assets

Cash 231,950.00

Trading Securities 124,650.00

Account Receivables 360,900.00

Less: Allowance for do 18950 341,950

Inventories at ower of average

cor market 402950.00

Prepaid expenses 13,950.00

Total current assets 1,115,450.00



Long term investments

Land held for future us 179,+50.00

cash surrender of life 91,950.00 271,+00.00

Insurance

Property, Plant, and Equipment

Building 73+,+00.00

Less: accum. Depre. 1+1950 574,+50.00

Office Equipment 271,+00.00

Less: accum depr. Offi 10+950 1+4,+50.00

Intangible Assets

Goodwill 81,950.00

Total !!et! 2,208,300.00

ia"ilitie! and !toc<#older;! e=uit*

ccount 'a*a"le 139,+50.00

6ote! 'a*ale due net *ear 12+,950.00

ent 'a*a"le 50,950.00

Total Current lia"ilitie! 317,550.00

ong ter) lia"ilitie!

Bond 'a*a"le 504,+50.00

add pr)iu) "ond! pa 54,950.00 559,+00.00

pen!ion o"igation 8+,+50.00

Total ia"ilitie! 9+3,800.00

toc< #older!; :=uit*

Co))on toc<, $1 par 291,950.00

dditional paid capital 1+1950

retained earning! 790,+00.00

Total e=uit* 1,244,500.00

total lia"ilitie! and e=uit* 2,208,300.00

E5-



eroni)o Co)pan*

Ca!# +9,000.00 6ote! and ccoun

ccount! ecei%a"le! 40,500.00 ongter) ia"iliti

&n%entor* +0,000.00 toc<#older!; e=ui

:=uip)ent 84,000.00

'atent! 21,000.00

Total 274,500.00

Answer to Question



:512 D"t

Ca!# $ 197,000 198,+90.00

ale! e%enue $ 8,100,000

De"t &n%e!t)ent! trading at co!t, $145,000 153,000 157,7+0.00

Co!t o/ ood! old 4,800,000 4,804,7+0.00

De"t &n%e!t)ent! longter) 299,000 300,+90.00

:=uit* &n%e!t)ent! longter) 277,000 278,+90.00

6ote! 'a*a"le !#ortter) 90,000

ccount! 'a*a"le 455,000

elling :pen!e! 2,000,000 2,004,7+0.00&n%e!t)ent e%enue +3,000

and 2+0,000 2+0,000.00

Building! 1,040,000 1,041,+90.00

Di%idend! 'a*a"le 13+,000

ccrued ia"ilitie! 9+,000

ccount! ecei%a"le 435,000 439,7+0.00

ccu)ulated DepreciationBuilding! 152,000

lloance /or Dou"t/ul ccount! 25,000

d)ini!trati%e :pen!e! 900,000 901,800.00

&ntere!t :pen!e 211,000 212,800.00

&n%entor* 597,000 598,+90.00

ain etraordinar* 80,000

6ote! 'a*a"le longter) 900,000

:=uip)ent +00,000 +04,7+0.00

Bond! 'a*a"le 1,000,000

ccu)ulated Depreciation:=uip)ent +0,000

ranc#i!e! 1+0,000 1+0,000.00

Co))on toc< $5 par

Trea!ur* toc< 191,000 195,7+0.00

'atent! 195,000 195,000.00

etained :arning! 78,000'aidin Capital in :ce!! o/ 'ar

Total! 12,355,+10.00

Answer to Question



G&GD& C('(T&(6

tate)ent o/ inancial 'o!ition

31Dec10

on-current assets

ongter) in%e!t)ent!

&n%e!t)ent! in "ond!

&n%e!t)ent! in capital !#are! Total longter) in%e!t)ent!

Property plant and e,uip$ent

and

Building! 1,041,+90.00

e!!- ccu). depreciation 152,000.00

:=uip)ent +04,7+0.00

e!!- ccu). Depreciation +0,000.00

Total propert*, plant, and

e=uip)ent.

Intan#ible assets

ranc#i!e'atent

Total intangi"le a!!et!

Total non-current assets

Current assets

&n%entorie!

ccount! recei%a"le 439,7+0.00

e!!- lloance /or dou"t/ul 29,7+0.00

account!

Trading !ecuritie!

Ca!#

Total current a!!et!

Total a!!et!

E,uity and "iabilities

E,uity

#are capitalordinar* $5 par ......... $1,000,000

etained earning! .................................. 130,000

ccu)ulated ot#er co)pre#en!i%e

inco)e..................................................... 80,000

e!!- Trea!ur* !#are!........................... 191,000 195,7+0.00 Total e=uit* ....................................... $1,019,000

on-current liabilities

Bond! pa*a"le .......................................... $1,000,000

ongter) note! pa*a"le....................... 900,000

'ro%i!ion /or pen!ion!........................... 80,000

Total noncurrent lia"ilitie! ......... 1,980,000

Current liabilities

#ortter) note! pa*a"le...................... $ 90,000



ccount! pa*a"le .................................... 455,000

Di%idend! pa*a"le ................................... 13+,000

ccrued lia"ilitie! .................................... 9+,000

Total current lia"ilitie! .................. 777,000

Total lia"ilitie!.................................. 2,757,000

Total e=uit* and lia"ilitie! ............................ $3,77+,000



lloance /or dou"t/ul account 18950

accu) deprec. Building! 1+1950

ccu) deprec. :=uip)ent 10+950



t 'a*a"le 44,000.00

e! 75,000.00

t* 155,500.00

274,500.00



Cr

8,104,7+0.00

94,7+0.00

459,7+0.00

+4,800.00

137,+90.00

100,7+0.00

152,000.00

29,7+0.00

81,800.00

901,+90.00

1,001,+90.00

+0,000.00

1,004,7+0.00

79,+90.0081,+90.00

12,355,+10.00



300,+90.00

278,+90.00 579,380.00

2+0,000.00

889,+90.00

544,7+0.00

1,+94,450.00

1+0,000.00195,000.00

355,000.00

2,+28,830.00

598,+90.00

410,000.00

157,7+0.00

198,+90.00

1,3+5,140.00

3,993,970.00

1,004,7+0.00

325,130.00 ale!

&n%e!t)ent e%enue

81,800.00 Co!t o/ ood old!

elling epen!e! 1,215,930.00 d)ini!tratri%e :pen!e!

&ntere!t epen!e!

1,001,+90.00 6et &nco)e

901,+90.00

81,+90.00

1,985,070.00 Beg. etained :arning

6et &nco)e

94,7+0.00 :nding etained :arning!



459,7+0.00

137,+90.00

100,7+0.00

792,970.00

2,778,040.00

3,993,970.00



8,104,7+0.00

+4,800.00

4,804,7+0.00

2,004,7+0.00 901,800.00

212,800.00

245,440.00

79,+90.00

245,440.00

325,130.00

intermediate accounting chapter 5 answers excel

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