CHECKLIST OF KEY FIGURES $22,450; Total assets, $65,000.

for Problems in 3-4A 2. Rent revenue, $74,000.

Weygandt, Kieso & Kimmel 3-5A (d) Trial balance, $29,650.
FINANCIAL ACCOUNTING, 4th Edition (f) Adj. trial balance, $30,250.
(g) Net income $1,000; Total assets, $24,000.
ISBN: 0-471-37250-1
3-6A (b) Adj. Trial balance, $112,950.
Problem
(c) Net income, $19,050; Total assets, $72,000.
No. Check Figures
3-1B (c) Adj. trial balance, $34,600.
1-1A (a) Retained earnings, $8,900.
3-2B (c) Adj. trial balance, $114,300.
(b) Net income, $9,400.
(d) Net income, $3,800; Total assets, $106,850.
1-2A (a) Retained earnings, $5,100.
3-3B (b) Net income, $3,490; Retained earnings,
(b) Net income, $5,150; Total assets, $16,150.
$2,890 Total assets, $24,350.
1-3A (a) Retained earnings, $1,950.
3-4B 2. Subscription Revenue, $7,000.
(b) Net income, $2,250.
3-5B (d) Trial balance, $21,650.
(c) Total assets $25,450
(f) Adj. trial balance, $22,270.
1-4A (a) Net income, $7,650.
(g) Net loss, $870; Total assets, $17,230.
(b) Retained earnings, $250.
BYP3-1 (c) Depreciation/amortization, 234% increase.
1-5A (a) (c) $14,000 (e) $82,000 (g) $132,000
BYP3-2 (a) $19,471,000 (Lands’ End)
(k) 242,000.
(b) $47,404,000 (Abercrombie).
(b) Retained earnings, $2,000.
(c) $21,658,000 (Lands’ End).
1-1B (a) Retained earnings, $4,610.
(d) $8,529,000 (Abercrombie).
(b) Net income, $5,110.
(e) $(1,062,000) (Lands’ End).
1-2B (a) Retained earnings, $7,050.
BYP3-7 (a) Net Income, $17,050.
(b) Net income, $5,650; Total assets, $30,400.
1-3B (a) Retained earnings, $2,400; (b) Net income,
4-1A (a) Adj. trial balance, $57,520.
$2,600; (c) Total assets, $38,300.
(b) Net income, $7,920; Total assets, $49,970.
1-4B Net income, $5,400.
4-2A (a) Net income, $13,300.
Total Assets, $44,000.
(b) Total current assets, $43,300.
1-5B (a) (c) $15,000 (e) $55,000 (g) $129,000
(e) Post-closing trial balance, $87,300.
(k) $220,000.
4-3A (a) Retained earnings, $ 3,900.
(b) Retained earnings, $5,000.
(d) Post-closing trial balance, $47,500.
BYP1-1 (a) 2001: $507,629,000.
4-4A (a) Adj. trial balance, $507,500.
(b) $75,351,000.
(b) Total assets, $203,500.
(c) 2001: $96,168,000.
(e) Post-closing trial balance, $246,500.
(d) 2001: $1,354,974,000.
4-5A (c) Adj. trial balance, $17,850.
(e) $13,377,000 decrease.
(d) Net income, $2,500.
BYP1-2 1. $507,629 (Lands’ End).
(g) Post-closing trial balance, $13,750.
2. $15,829. (Abercrombie).
4-6A (b) Trial balance, $22,690.
3. $1,354,974 (Lands’ End).
4-1B (a) Adj. trial balance, $13,200.
4. $158,133 (Abercrombie).
(b) Net income, $820; Total assets, $8,920.
BYP1-7 (b) Total assets, $12,350.
4-2B (a) Net income, $18,800.
(c) Net income, $2,900.
(b) Total current assets, $59,300.
(d) Revenues earned, $5,150.
(e) Post-closing trial balance, $67,300.
BPY1-8 Total assets, $37,500.
4-3B (a) Retained earnings, $19,700.
(d) Post-closing trial balance, $59,600.
4-4B (a) Adj. trial balance, $350,400.
2-2A (c) Trial balance totals, $47,740.
(b) Total assets, $243,300.
2-3A (d) Trial balance totals, $37,940.
(e) Post-closing trial balance, $249,700.
2-4A (e) Trial balance totals, $71,000.
4-5B (c) Adj. trial balance, $18,600.
2-5A Trial balance totals, $42,900.
(d) Net income, $4,200.
2-2B (c) Trial balance totals, $29,550.
(g) Post-closing trial balance, $15,300.
2-3B (d) Trial balance totals, $123,600.
BYP4-1 (a) 2001: $321,685,000.
2-4B (c) Trial balance totals, $856,700.
(e) 2001: $178,874,000.
2-5B (b) Trial balance totals, $323.
BYP4-2 1. $321,685 (Lands’ End).
2. $278,785 (Abercrombie).
3. $178,874 (Lands’ End).
3-1A (c) Adj. trial balance totals, $43,050.
4. $422,700 (Abercrombie).
3-2A (c) Adj. trial balance totals, $277,700.
BYP4-4 (d) Income from operations, $567.
(d) Net income, $15,300; Retained earnings,
BYP4-7 (a) Total assets, $75,200; Retained earnings,
$10,300; Total assets, $200,300.
$6,150.
3-3A (b) Net income, $34,450; Retained earnings,
5-2A (c) Gross profit, $2,916. (b) Return on sales, 6.00%; Return on equity,
5-3A (a) Net income, $30,100; Total assets, $355,300. 8.08%.
5-4A (c) Trial balance, $6,150. 7-4B (a) Total assets, $2,000,000.
5-5A (a) Adj. trial balance, $1,019,700. (b) Current ratio, 1.74:1; Working capital,
(b) Income from operations, $5,800; Total $300,750.
assets, $203,300. 7-5B (a) Net income, $878,500.
(e) Post-closing trial balance, $243,300. (b) Return on sales, 9.08%; Return on equity,
5-2B (c) Gross profit, $3,770. 22.10%.
5-3B (a) Net income, $7,230; Total assets, $180,990. COMPREHENSIVE PROBLEM
5-4B (c) Trial balance, $7,800. (a) Net income, $435,500.
5-5B (a) Adj. trial balance, $1,381,800. (d) Total assets, $9,225,000.
(b) Net income, $57,000; Total assets, (e) Current ratio, 1.62:1.
$409,300. BYP7-2 1. 1.8:1 (Lands’ End).
(e) Post-closing trial balance, $524,700. 2. $149 (Abercrombie).
BYP5-1 (b) Gross profit rate: 2001 46.2%. 3. 2.6% (Lands’ End).
(c) Net income to sales: 2001 2.6%. 4. 26.9% (Abercrombie).
BYP5-2 (1) $626,528 (Lands’ End). 5. 11% (Lands’ End).
(2) 41.1% (Abercrombie). 6. 28% (Abercrombie).
(3) $61,660 (Lands’ End). BYP7-5 1. .03 (RJR Nabisco).
(4) 4.8% (Abercrombie). 2. .09 (Phillip Morris).
BYP5-7 (a) 1. Net income, $60,500. 3. .05 (RJR Nabisco).
2. Net income, $57,000.
(c) Net income, $87,660. 8-3A (a) Adj. balance per books, $9,064.50.
8-4A (a) Adj. balance per books, $15,533.20.
8-5A (a) Adj. balance per books, $24,220.
6-1A (d) Gross profit, $692. 8-3B (a) Adj. balance per books, $8,064.50.
6-2A Net income, $50,100. 8-4B (a) Adj. balance per books, $11,999.90.
6-3A (a) Total cost, $19,000. 8-5B (a) Adj. balance per books, $25,460.
(b) LIFO (1) $4,100, (2) $14,900. 8-6B (a) Adj. balance per books, $20,762.72.
6-4A (a) LIFO ending inventory, $46,000; Net BYP8-2 1. $75.4 M (Lands’ End).
income, $94,180. 2. $10.3 M (Abercrombie).
6-5A (a) Gross profit rate, 35%. 3. $60.6 M (Lands’ End).
(b) Estimated inventory lost, $40,960. BYP8-4 (b) Current ratio, 3.1:1 (Microsoft);
6-6A (a) Sporting Goods, $55,800. Working capital, $5,021 (Oracle).
Jewelry, $31,500.
6-7A (a) (1) FIFO, $720; (2) Average, $692 9-1A (b) Accounts receivable, $1,320,000.
(3) LIFO, $640. 9-2A (c) Bad debts expense, $47,400.
6-1B (d) Gross profit, $234. 9-3A (a) Bad debts expense, $28,450.
6-2B Net income, $30,980. 9-4A (b) (1) Bad debts expense, $10,950.
6-3B (a) Total cost, $25,600. 9-5A (c) Total receivables, $27,635.
(b) LIFO (1) $5,600; (2) $20,000. 9-1B (b) Accounts receivable, $1,295,000.
6-4B (a) LIFO ending inventory, $98,000; Net 9-2B (c) Bad debts expense, $28,000.
income, 9-3B (a) Bad debts expense, $27,930.
$93,600. 9-4B (a) (1) Bad debts expense, $15,450.
6-5B (a) Gross profit rate, 42%. 9-5B (c) Total receivables, $31,990.
(b) Estimated inventory lost, $27,800. BYP9-1 (b) Bad debts expense, $22,470.
6-6B (a) Hardcovers, $247,000. BYP9-2 (1) 72 times (Lands’ End).
Paperbacks, $71,400. (2) 4 days (Abercrombie).
6-7B (1) FIFO, $318; (2) Average cost, $303; BYP9-4 (b) Bad debt expense, $119,000.
(3) LIFO, $279. BYP9-7 (a) 2002: $17,500, 3.5%.
BYP6-1 (a) 2001: $188.2 M. (b) 2002: $20,000, 4.0%.
(d) 2001: 53.8%.
BYP6-2 1. 4.16 times (Lands’ End).
2. 49.2 days (Abercrombie). 10-1A Land, $162,500.
BYP6-4 (d) Inventory turnover, 4.44 times (Nike); 10-2A (b) (1) $42,000, (2) $39,200.
Ave. days to sell inventory, 98 (Reebok). 10-3A (a) (2) Annual depreciation, $5,360.
10-4A 2002 depreciation, $7,200.
7-4A (a) Total assets, $3,800,000. 10-5A (b) Depreciation – building, $570,000
(b) Current ratio, 1.8:1; Working capital, equipment, $4,793,000.
$634,500. 10-6A (d) Office furniture (new), $35,000.
7-5A (a) Net income, $158,830. (e) Loss on disposal, $2,000.
10-7A (c) Total intangible assets, $219,000.
10-9A (a) .65 times (Baxter).
10-1B Land, $137,500.
10-2B (b) (2) $12,188.
10-3B (a) (2) Annual depreciation, $8,025.
10-4B 2002 depreciation, $4,800.
10-5B (b) Depreciation – building, $530,000,
equipment, $3,966,000.
10-6B (d) Loss on disposal, $13,000.
(e) Delivery equipment (new), $34,000.
10-7B (c) Total intangible assets, $128,000.
10-8B (a) .80 times (Croix).
BYP10-1 (a) Book value, $185,293,000.
(c) 2001: $$23,432,000.
BYP10-2 (a) 2.81 times (Lands’ End).
BYP10-4 (b) Asset turnover ratio, 1.13 (Johnson).
BYP10-7 (a) Fresno accumulated depreciation, $48,000;
Auburn accumulated depreciation, $90,564.
11-1A (c) Total current liabilities, $81,122.
11-2A (c) Carrying value of note, $10,075.
(d) Interest, $925.
11-3A (d) Discount on bonds payable, $108,000.
11-4A (d) Unamortized bond premium, $120,000.
Unamortized bond discount, $80,000.
11-5A (c) Loss on bond redemption, $42,600.
(d) Bond amortization, $2,800.
11-6A (d) Total current liabilities, $523,394.
11-7A (c) Bond amortization, $2,261.
11-8A (b) Carrying value of bond, $2,225,482.
(c) 1. Bond interest expense-2003, $223,775.
11-1B (c) Total current liabilities, $66,405.
11-2B (d) Premium on bonds payable, $96,000.
11-3B (c) Premium on bonds payable, $28,500.
Discount on bonds payable, $85,500.
11-4B (d) Unamortized bond discount, $119,437.50.
Unamortized bond premium, $136,500.
11-5B (c) Current liability, 12/31/01, $50,338.
11-6B (d) Total current liabilities, $612,088.
11-7B (c) Bond amortization, $5,653.
11-8B (b) Carrying value of bonds, $1,969,488.
(c) 1. Bond interest expense – 2003, $234,978.
BYP11-1 (a) 2001: $178,874,000.
BYP11-2 (b) (1) 142.8 (Lands’ End).
(2) 1.96:1 (Abercrombie).
BYP11-4 (a) 2000 working capital, $5,302; 2000 current
ratio, 2.88:1.
(b) 2000 debt to assets ratio, 29%; 2000 times
interest earned, 61.7.
BYP11-7 (a) Carrying value of bonds, 1/1/03,
$2,928,000.
12-1A (c) Total paid-in capital, $1,368,000.
12-2A (b) Treasury stock, $24,000.
(d) Total stockholders’ equity, $984,000.
12-3A (c) Total stockholders’ equity, $5,180,000.
(d) Book value per share, 4.64.
12-4A (c) Total stockholders’ equity, $2,039,000.
12-5A (b) Total stockholders’ equity, $4,150,000.
12-6A (c) Total paid-in capital, $4,943,000.
12-7A (a) Total stockholders’ equity , $4,132,000.
(b) Book value per share, $26.
12-8A Total stockholders’ equity, $2,460,00.
12-1B (c) Total paid-in capital, $1,381,000.
12-2B (b) Treasury stock, $50,000.
(d) Total stockholders’ equity, $1,793,000.
12-3B (c) Total stockholders’ equity, $2,442,000.
(d) Book value per share, $10.50.
12-4B (b) Total stockholders’ equity, $29,650,000.
12-5B (c) Total stockholders’ equity, $7,040,000.
12-6B (b) Total stockholders’ equity, $4,065,000.
12-7B (c) Total stockholders’ equity, $1,592,000.
12-8B (a) Total stockholders’ equity, $7,330,000.
(b) Book value per share, $13.
BYP12-1 (c) 2001: 29,276,000 shares.
(d) 2001: $10.73 book value per share.
BYP12-2 (a) (2) 11% (Lands’ End).
43% (Abercrombie).
BYP12-4 (e) Dividends per share, $1.72.
13-1A (b) Unrealized gain, $500,000.
13-2A (b) Unrealized loss, $2,200.
13-3A (b) Unrealized loss, $1,800.
(c) Total stockholders’ equity, $2,948,200.
13-4A (a) Total dividend revenue, $80,000.
(b) Revenue from investment, $90,000.
13-5A (c) Unrealized loss, $6,080.
(d) Investments, $176,000.
13-6A Total assets, $2,931,000.
13-7A (b) Eliminations, $1,200,000.
(c) Total stockholders’ equity, $3,672,500.
13-1B (b) Unrealized gain, $40,000.
13-2B (b) Unrealized loss, $1,300.
13-3B (b) Unrealized loss, $2,400.
(c) Total stockholders’ equity, $3,197,600.
13-4B (a) Total dividend revenue, $80,000.
(b) Revenue from investment, $200,000.
13-5B (c) Unrealized loss, $940.
(d) Investments, $87,300.
13-6B Total assets, $2,810,000.
13-7B (b) Eliminations, $726,000.
(c) Total stockholders’ equity, $2,490,000.
BYP13-2 1. $44.6 (Lands’ End).
2. $153.5 (Abercrombie).
14-1A Net cash used by operating activities, ($35,000).
14-2A Cash payments to suppliers, $5,390,000.
14-3A Cash receipts from customers, $455,000.
14-4A Net cash provided by operating activities,
$121,000.
14-5A Net cash provided by operating activities,
$7,000.
14-6A Cash payments to suppliers, $190,000.
14-7A Net cash provided by operating activities
$122,800.
14-8A Cash payments for operating expenses, $21,400.
14-9A Net cash provided by operating activities,
$93,290.
14-10A Total reconciling items, $610,210.
14-1B Net cash provided by operating activities,
$1,350,000.
14-2B Cash payments to suppliers, $4,500,000. (4) 2001: return on common stockholders’
14-3B Cash receipts from customers, $910,000. equity, 11.4%.
14-4B Net cash provided by operating activities, (c) (1) 2001: debt to total assets, 38.1%.
$246,000. (2) 2001: times interest earned, 37.4 times.
14-5B Net cash provided by operating activities, BYP15-2 (1). (i) 2.7% (Land’s End).
$12,500. (ii) 5.7% (Abercrombie).
14-6B Cash payments to suppliers, $166,000. (2). (i) 11.3% (Land’s End).
14-7B Net cash provided by operating activities, (ii) 35.9% (Abercrombie).
$35,000. (3). Price earnings ratio, 15.7 times
14-8B Cash payments for operating expenses, $60,000. (Abercrombie).
14-9B Net cash provided by operating activities, BYP15-4 (a) 1. 1.26:1 (Caterpillar).
$77,900. 2. .61:1 (Manitowoc).
14-10B Total reconciling items, $231,500. 3. .38:1 (Caterpillar).
BYP14-1 (a) 2001: $60.6 M. 4. 7.78 (Manitowoc).
(f) Interest $1.52 M; Taxes $9.7M. 5. 6.39 (Caterpillar).
BYP14-2 (1) .37:1 (Land’s End). (b) 1. 1.29 (Manitowoc).
(2) 12. 2% (Abercrombie). 2. .074 (Caterpillar).
(3) .34:1 (Land’s End). 3. .06 (Manitowoc).
BYP14-8 (b) Net Loss, ($20,000). 4. .361 (Caterpillar).
(c) 1. .749 (Manitowoc).
15-1A Net income (Sara) 8.2%; (Reiling) 3.9%. 2. 9.6 times (Caterpillar).
15-2A (c) Return on assets, 21.5%.
(d) Current ratio, 1.7:1. BEC-1 FV=$8,954.25.
(g) Inventory turnover, 8.4 times. BEC-4 FV=$1,006,231.20.
(h) Times interest earned, 11.4 times. BEC-6 FV=$26,764.60.
15-3A (a) 2003 - Asset turnover, 1.1 times; Price- BEC-9 PV=$248,590.
earnings ratio, 5.8 times; Payout ratio, 54.5%. BEC-11 PV=$194,245.
15-4A (a) 2003: Acid test, 1.1:1; Receivables turnover, BEC-13 PV of principal=$37,689.
9.2 times; Profit margin, 4.2%; Asset turnover, BEC-15 PV of interest=$22,612.76.
1.3 times. BEC-16 PV=$1,797,890.
(b) 1. 2004: 8.7% 2. 2004: 33.6%. BEC-19 PV of future cash flows=$89,208.70.
15-5A (a) Kmart - (1) 1.6:1, (3) 3.6 times, (5) 2.0 BEC-21 10 years.
times, (7) 4.9%, (9) 1.8 times, (11) 1.0%. BEC-23 16 payments.
15-6A (b) Acid-test ratio, .97:1.
(c) Receivables turnover, 7.2 times. PD-2A (a) Net pay, $1,862.06.
(e) Profit margin ratio, 6.5%. (b) Payroll tax expense, $334.27.
(k) Payout ratio, 41%. (d) Cash paid, $586.64.
15-7A Gross profit, $4,040,000; Interest Expense, PD-3A (b) Payroll tax expense, $6,106.
$220,000; Total assets, $7,500,000; Total PD-4A (a) Wages payable, $347,100.
liabilities, $4,100,000. (b) Payroll tax expense, $49,985.
15-1B Net income (Appaloosa) 10%; (Palamino) PD-2B (a) Net pay, $1,728.57.
12.8%. (b) Payroll tax expense, $307.14.
15-2B (c) Return on assets, 6.2%. (d) Cash paid, $525.08.
(d) Current ratio, 1.5:1. PD-3B (b) Payroll tax expense, $5,964.
(g) Inventory turnover, 6.5 times. BYPD-1 (a) Temporary, $64,680.
(h) Times interest earned, 9.6 times. Permanent, $66,628.
15-3B (a) 2002- Asset turnover, 1.0 times; Price-
earnings ratio, 1.9 times; Payout ratio, 76.1%.
15-4B (a) 2002 - Acid-test, .7:1, Receivables turnover, PE-1A (a) Balancing totals, $19,615.
10.7 times; Profit margin, 11.5%; Asset (c) Accounts receivable, $1,530.
turnover, .8 times. PE-2A (a) Balancing totals, $11,250.
(b) 1. 2003 12.1% 2. 2003 27.3%. (c) Accounts payable, $2,200.
15-5B (a) Inland - (1) 1.9:1, (3) 9.9 times, (5) 1.3 PE-3A (a) Purchases journal – Accounts payable cr.,
times, (7) 15.8%, (9) 3.3 times, (11) 3.6%. $22,400; Sales journal total, $15,730; $11,011.
15-6B Gross profit, $1,800,000; Income taxes, (c) Accounts receivable, $15,690.
$363,000; Total assets, $5,031,022; Total Accounts payable, $22,100.
liabilities, $2,651,022. PE-4A Sales journal total, $23,580.
BYP15-1 (b) (1) 2001: profit margin, 2.6%. Purchases journal total, $30,690.
(2) 2001: asset turnover, 2.81 times. Cash receipts journal balancing total, $29,670.
(3) 2001: return on assets, 7.2%. Cash payments journal balancing total, $41,780.
PE-5A (b)Sales journal total, $17,900.
Cash receipts journal balancing total, $98,350.
(e) Trial balance totals, $114,620.
(h) Adj. trial balance totals, $114,620.
PE-1B (a) Balancing totals, $29,585.
(c) Accounts receivable, $0.
PE-2B (a) Balancing totals, $14,800.
(c) Accounts payable, $3,050.
PE-3B (a) Purchases journal - Accounts payable Cr.,
$39,650; Sales journal total, $10,550; $7,385.
(c) Accounts receivable, $10,350.
Accounts payable, $38,750.
PE-4B Sales journal total, $24,170.
Purchases journal total, $45,200.
Cash receipts journal balancing total, $75,695.
Cash payments journal balancing total, $60,055.
PE-5B (b) Purchases journal total, $42,900.
Cash payments journal balancing total, $46,500.
(e) Trial balance totals, $69,000.
(h) Adj. Trial balance totals,$69,200.

PF-1A (c) Current liabilities, $68,510.

PF-2A (b) Capital lease - $27,000.
(c) Operating lease - $5,000.
PF-1B (c) Current liabilities, $83,132.
PF-2B (b) Operating lease - $4,000.
(c) Capital lease - $43,000.
BYPF-1 (e) $1.022 M.