CHECKLIST OF KEY FIGURES

for Problems in

Weygandt, Kimmel, & Kieso

FINANCIAL ACCOUNTING, 7th Edition

ISBN: 978-0-470-12884-8

Problem

No. Check Figures

1-1A (a) Cash, $6,180.

(b) Net income, $3,060.

1-2A (a) Cash, $15,200.

(b) Net income, $4,930; Total assets, $29,800.

1-3A (a) Net income, $2,500.

(b) Retained earnings, $1,000.

1-4A (a) Cash, $8,200.

(b) Net income, $4,050.

(c) Total assets $23,500.

1-5A (a) (c) $10,000 (e) $62,000 (g) $120,000

(k) 250,000.

(b) Retained earnings, $7,000.

1-1B (a) Cash, $10,800.

(b) Net income, $6,600.

1-2B (a) Cash, $2,300.

(b) Net income, $4,500; Total assets, $14,900.

1-3B (a) Net income, $2,800.

Total assets, $42,000.

1-4B (a) Cash, $13,800; (b) Net income, $4,300; (c) Total assets, $19,400.

1-5B (a) (c) $5,000 (e) $45,000 (g) $124,000

(k) $225,000.

(b) Retained earnings, $5,000.

BYP1-1 (a) 2008: $35,994 million.

(d) 2008: $43,251 million.

BYP1-2 2. $4,683. (PepsiCo).

4. $5,807 (Coca-Cola).

BYP1-4 (b) Total assets, $27,700.

(d) Revenues earned, $5,700.

BPY1-5 Total assets, $42,500.

2-2A (c) Trial balance totals, $33,300.

2-3A (d) Trial balance totals, $64,000.

2-4A Trial balance totals, $24,930.

2-5A (d) Trial balance totals, $36,170.

2-2B (c) Trial balance totals, $50,600.

2-3B (c) Trial balance totals, $91,300.

2-4B Trial balance totals, $15,381.

2-5B (d) Trial balance totals, $69,800.

BYP2-4 (c) Correct net income, $6,300.

3-1A (c) Adj. trial balance totals, $41,550.

3-2A (c) Adj. trial balance totals, $278,000.

(d) Net income, $14,100; Retained earnings, $9,100; Total assets, $199,900.

3-3A (b) Net income, $36,450; Retained earnings, $24,950; Total assets, $67,000.

3-4A 2. Rent Revenue, $74,000.

3-5A (d) Trial balance, $30,150.

(f) Adj. trial balance, $30,650.

(g) Net income $1,200; Total assets, $23,900.

3-6A (b) Adj. trial balance, $112,850.

(c) Net income, $18,750; Total assets, $72,000.

3-1B (c) Adj. trial balance, $34,280.

3-2B (c) Adj. trial balance, $101,355.

(d) Net income, $4,485; Total assets, $92,865.

3-3B (b) Net income, $4,825; Retained earnings, $3,225; Total assets, $39,600.

3-4B 2. Subscription revenue, $6,375.

3-5B (d) Trial balance, $24,350.

(f) Adj. trial balance, $24,950.

(g) Net income, $250; Total assets, $17,750.

BYP3-2 (a) $435,000,000 (PepsiCo)

(b) $829,000,000 (Coca-Cola).

(d) ($174,000,000) (Coca-Cola).

BYP3-4 (a) Net income, $26,550.

4-1A (a) Adj. trial balance, $57,800.

(b) Net income, $6,680; Total assets, $48,730.

4-2A (a) Net income, $10,100.

(b) Total current assets, $41,700.

(e) Post-closing trial balance, $85,700.

4-3A (a) Retained earnings, $2,200.

(d) Post-closing trial balance, $45,500.

4-4A (a) Adj. trial balance, $504,700.

(b) Total assets, $209,300.

(e) Post-closing trial balance, $251,500.

4-5A (c) Adj. trial balance, $20,950.

(d) Net income, $4,350.

(g) Post-closing trial balance, $16,600.

4-6A (b) Trial balance, $22,690.

4-1B (a) Adj. trial balance, $24,350.

(b) Net income, $2,780; Total assets, $17,850.

4-2B (a) Net income, $7,900.

(b) Total current assets, $22,400.

(e) Post-closing trial balance, $46,400.

4-3B (a) Retained earnings, $16,600.

(d) Post-closing trial balance, $52,500.

4-4B (a) Adj. trial balance, $420,900.

(b) Total assets, $289,800.

(e) Post-closing trial balance, $297,500.

4-5B (c) Adj. trial balance, $41,900.

(d) Net income, $10,800.

(g) Post-closing trial balance, $34,900.

Comprehensive Problem

(c) Adj. trial balance, $27,700.

(d) Net income, $3,050;

Total assets, $23,350.

(g) Post-closing trial balance, $23,550.

BYP4-1 (a) 2008: $10,806 million.

(e) 2008: $8,787 million.

BYP4-2 2. $11,663 (PepsiCo).

4. $20,472 (Coca-Cola).

BYP4-4 (a) Total assets, $73,900; Retained earnings,

$4,650.

BYP4-7 Total assets, $15,350.

5-2A (c) Gross profit, $3,465.

5-3A (a) Net income, $30,100; Total assets, $356,100.

5-4A (c) Trial balance, $6,160.

5-5A Gross profit, $310,300.

5-6A (a) 2010 COGS, $141,600.

(c) 2010 Ending A/P, $15,000.

5-7A (c) Trial balance, $6,223; Gross profit, $859.

5-8A (a) Adj. trial balance, $1,010,780.

(b) Loss from operations, $(200); Total assets, $197,300.

(e) Post-closing trial balance, $239,300.

5-2B (c) Gross profit, $2,269.

5-3B (a) Net income, $6,600; Total assets, $168,000.

5-4B (c) Trial balance, $5,760.

5-5B Gross profit, $204,100.

5-6B (c) $6,400; (g) $15,500; (1) $2,100.

5-7B (c) Trial balance, $8,365; Gross profit, $466.

BYP5-1 (b) Gross profit rate: 2008 52.9%.

(c) Net income to sales: 2008 11.9%.

BYP5-2 (1) $22,900 (PepsiCo).

(2) 64.4% (Coca-Cola).

(3) $6,935 (PepsiCo).

(4) 16.5% (Coca-Cola).

BYP5-4 (a) (1) Net income, $58,080.

(2) Net income, $55,000.

(c) Net income, $85,240.

6-2A (a) Total cost, $146,000.

(b) LIFO (1) $26,500; (2) $119,500.

6-3A (b) FIFO (1) $5,700, (2) $13,600.

6-4A (a) LIFO ending inventory, $68,000; Net income,

$104,940.

6-5A (1) LIFO (i) $1,500, (iii) $3,050.

6-6A (b) Gross profit, $166,750.

6-7A (a) FIFO net income, $92,880.

6-8A (1) LIFO (i) $7,020, (iii) $6,330.

6-9A (a) (1) FIFO, $925; (2) Average cost, $874;

(3) LIFO, $790.

6-10A (a) Gross profit rate, 36%.

(b) Estimated inventory lost, $33,740.

6-11A (a) Sporting Goods, $63,000.

Jewelry, $26,000.

6-2B (a) Total cost, $138,000.

(b) LIFO (1) $26,800, (2) $111,200.

6-3B (b) FIFO (1) $6,800, (2) $23,400.

6-4B (a) LIFO ending inventory, $38,000; Net income, $102,600.

6-5B (a) Total cost, $11,110.

(1) LIFO (i) $3,800, (iii) $4,215.

6-6B (a) FIFO gross profit, $3,791.

6-7B (a) FIFO net income, $105,700.

6-8B (1) LIFO (i) $3,340, (iii) $2,020.

6-9B (1) FIFO, $1,029; (2) Average, $994;

(3) LIFO, $958.

6-10B (a) Gross profit rate, 40%.

(b) Estimated inventory lost, $25,500.

6-11B (a) Hardcovers, $520,000.

Paperbacks, $247,500.

BYP6-1 (a) 2008: $2,522 M.

(d) 2008: 47.1%.

BYP6-2 1. 8.46 times (PepsiCo).

70.7 days (Coca-Cola).

BYP6-4 (b) 2010 gross profit, $216,000.

7-3A (a) Adj. balance per books, $8,544.50.

7-4A (a) Adj. balance per books, $15,958.40.

7-5A (a) Adj. balance per books, $25,354.

7-3B (a) Adj. balance per books, $15,107.

7-4B (a) Adj. balance per books, $7,191.

7-5B (a) Adj. balance per books, $17,831.

7-6B (a) Adj. balance per books, $17,733.31.

BYP7-2 (1) $2,064 M (PepsiCo).

(2) $608 M (Coca-Cola).

(3) $6,999 M (PepsiCo).

8-1A (b) Accounts receivable, $1,210,000.

8-2A (c) Bad debts expense, $46,500.

8-3A (a) Bad debts expense, $30,610.

8-4A (b) Bad debts expense, $18,500.

8-5A (b) (1) Bad debts expense, $9,750.

8-6A (c) Total receivables, $32,630.

8-1B (b) Accounts receivable, $343,000.

8-2B (c) Bad debts expense, $18,140.

8-3B (a) Bad debts expense, $38,570.

8-4B (b) Bad debts expense, $7,100.

8-5B (b) (1) Bad debts expense, $13,600.

8-6B (c) Total receivables, $53,310.

BYP8-1 (b) Bad debts expense, $7,870.

BYP8-2 (1) 10.0 times (Coca-Cola).

(2) 38.4 days (PepsiCo).

BYP8-4 (a) 2011: $17,800, 3.56%.

(b) 2011: $19,800 3.96%.

9-1A Land, $162,500.

9-2A (b) (1) $45,000, (2) $37,500.

9-3A (a) (2) Annual depreciation, $7,000.

9-4A 2011 depreciation, $10,800.

9-5A (b) Depreciation – building, $570,000; equipment, $4,772,000.

9-6A (c) Gain on disposal, $6,000.

9-7A (c) Total intangible assets, $219,500.

9-9A (a) .48 times (Lebo).

9-1B Land, $118,500.

9-2B (b) (2) $31,250.

9-3B (a) (2) Annual depreciation, $13,250.

9-4B 2011 depreciation, $24,000.

9-5B (b) Depreciation – building, $400,000, equipment, $2,983,000.

9-6B (b) Gain on disposal, $15,000.

9-7B (c) Total intangible assets, $349,000.

9-9B (a) .94 times (Gene).

Comprehensive Problem:

(c) Net income, $58,000.

(d) Total assets, $258,700.

BYP9-1 (a) Book value, $11,663,000,000.

BYP9-2 (a) 1.22 times (PepsiCo).

BYP9-4 (a) Reimer accumulated depreciation, $52,500;

Lingo accumulated depreciation, $99,320.

10-1A (c) Total current liabilities, $81,840.

10-2A (c) Carrying value of note, $15,100.

(d) Interest, $1,550.

10-3A (d) Bond interest expense, $18,000.

10-4A (c) Loss on bond redemption, $9,000.

10-5A (c) Current liabilities 12/31/11, $29,639.

10-6A (c) Bond amortization, $9,127.

10-7A (b) Carrying value of bonds, $3,549,041.

(c) (1) Bond interest expense-2012, $352,451.

10-8A (d) Carrying value of bonds, $3,096,000.

10-9A (c) Carrying value of bonds, $2,595,000.

10-10A (c) Gain on bond redemption, $64,000.

10-1B (c) Total current liabilities, $81,692.

10-2B (d) Bond interest expense, $50,000.

10-3B (c) Loss on bond redemption, $6,000.

10-4B (c) Current liabilities, 12/31/12, $37,049.

10-5B (c) Bond amortization, $5,088.

10-6B (b) Carrying value of bonds, $3,364,982.

(c) (1) Bond interest expense, $270,953.

10-7B (d) Carrying value of bonds, $3,856,000.

10-8B (c) Carrying value of bonds, $5,135,000.

10-9B (c) Loss on bond redemption, $36,500.

Comprehensive Problem 1:

(a) Total assets, $950,325 (Paris).

Comprehensive Problem 2:

(c) Net income, $61,705; Total assets, $249,700.

BYP10-1 (d) Long-term debt increase, $5,880 million.

BYP10-2 (b) (1) 2,019 (PepsiCo).

(d) (1) 49.5% (Coca-Cola).

BYP10-4 (a) Carrying value of bonds, 1/1/11,

$5,856,000.

11-1A (c) Total paid-in capital, $1,431,000.

11-2A (b) Treasury stock, $7,000.

(c) Total stockholders’ equity, $1,058,000.

11-3A (c) Total stockholders’ equity, $2,599,000.

11-4A (c) Total stockholders’ equity, $2,062,500.

11-5A (c) Total stockholders’ equity, $6,865,000.

11-6A (b) Total stockholders’ equity, $8,537,000.

11-7A (c) Total stockholders’ equity, $1,701,000.

11-8A (a) Total stockholders’ equity, $3,572,400.

11-9A Total stockholders’ equity, $2,497.

11-1B (c) Total paid-in capital, $1,489,000.

11-2B (b) Treasury stock, $8,000.

(c) Total stockholders’ equity, $838,000.

11-3B (c) Total stockholders’ equity, $5,335,000.

11-4B (c) Total stockholders’ equity, $2,492,500.

11-5B (b) Total stockholders’ equity, $29,155,000.

11-6B (c) Total stockholders’ equity, $5,052,000.

11-7B (a) Total stockholders’ equity, $6,907,000.

BYP11-1 (c) 2008: 1,553,000,000 shares.

(d) 2008: $7.86 book value per share.

BYP11-2 (d) $3.26 (PepsiCo).

27.5% (Coca-Cola).

12-1A (b) Unrealized gain, $200,000.

12-2A (b) Unrealized loss, $800.

12-3A (b) Unrealized loss, $4,100.

(c) Total stockholders’ equity, $2,495,900.

12-4A (a) Total dividend revenue, $54,000.

(b) Revenue from investment, $96,000.

12-5A (c) Unrealized loss, $7,480.

(d) Investments, $183,200.

12-6A Total assets, $2,791,000.

12-7A (b) Eliminations, $1,225,000.

(c) Total stockholders’ equity, $3,002,000.

12-1B (b) Unrealized loss, $15,000.

12-2B (b) Unrealized loss, $2,020.

12-3B (b) Unrealized loss, $6,300.

(c) Total stockholders’ equity, $3,193,700.

12-4B (a) Total dividend revenue, $40,000.

(b) Revenue from investment, $120,000.

12-5B (c) Unrealized loss, $4,140.

(d) Investments, $122,400.

12-6B Total assets, $4,290,000.

12-7B (b) Eliminations, $710,000.

(c) Total stockholders’ equity, $2,490,000.

Comprehensive Problem:

(b) Earnings per share- D.F., $1.97.

(c) (2) Total Shares issued, 165,000.

(e) (2) Investment balance, $979,740.

BYP12-2 (a) 2. $2,446 (PepsiCo).

13-2A (a) Net income, $65,500.

13-3A Net cash provided by operating activities, $1,400,000.

13-4A Cash receipts from customers, $7,450,000.

13-5A Net cash provided by operating activities, $308,000.

13-6A Net cash provided by operating activities, $308,000.

13-7A Net cash provided by operating activities, $33,500.

13-8A Cash payments to suppliers, $168,000.

13-9A Net cash provided by operating activities, $185,250.

13-10A Cash payments for operating expenses, $15,310.

13-11A Net cash provided by operating activities, $105,000.

13-12A Total reconciling items, 610,210.

13-2B Cash proceeds, $11,000.

13-3B Net cash provided by operating activities, $1,375,000.

13-4B Cash payments to suppliers, $3,380,000.

13-5B Net cash provided by operating activities, $114,000.

13-6B Net cash provided by operating activities, $114,000.

13-7B Net cash provided by operating activities, $1,000.

13-8B Cash payments to suppliers, $232,000.

13-9B Net cash provided by operating activities
$95,800.

13-10B Cash payments for operating expenses, $23,400.

13-11B Net cash provided by operating activities, $71,290.

BYP13-1 (f) Interest $359 M; Taxes $1,477M.

BYP13-2 (a) $2,012 (PepsiCo).

BYP13-5 (b) Net loss, ($30,000).

14-1 (a) Net income (Douglas) 6.6%; (Maulder) 3.0%.

14-2 (c) Return on assets, 21.1%.

(e) Acid-test ratio, 1.21:1.

(g) Inventory turnover, 8.5 times.

(i) Asset turnover, 2.0 times.

14-3 (a) 2011 - Asset turnover, 1.1 times; Price- earnings ratio, 5.2 times; Payout ratio, 60.0%.

14-4 (a) 2012: Acid test, 1.1:1; Receivables turnover, 9.6 times; Profit margin, 5.1%; Asset turnover, 1.3 times.

(b) 1. 2013: 11.1% 2. 2013: 35.4%.

14-5 (a) Target - (1) 1.6:1, (3) 42.4, (5) 57.0, (7) 1.5 times, (9) 18.4%, (11) 8.1.

14-6 (b) Acid-test ratio, .86:1.

(c) Receivables turnover, 7.5 times.

(e) Profit margin ratio, 6.4%.

(k) Payout ratio, 40.1%.

14-7 Gross profit, $4,040,000; Interest expense,

$220,000; Total assets, $7,500,000; Total liabilities, $4,100,000.

P14-8 Net income, $2,555,000.

P14-9 Net income, $260,400.

BYP14-1 (b) (1) 2008: profit margin, 11.9%.

(2) 2008: asset turnover, 1.22 times.

(3) 2008: return on assets, 14.6%.

(4) 2008: return on common stockholders’ equity, 34.8%.

(c) (1) 2008: debt to total assets, 66.4%.

(2) 2008: times interest earned, 22.3 times.

BYP14-2 (1). (i) 9.6% (PepsiCo).

(ii) (2.9%) (Coca-Cola).

(2). (i) 3.9% (PepsiCo).

(ii) (5.8%) (Coca-Cola).

(3). Price earnings ratio, 16.6 times

(PepsiCo).

BYP14-4 (a) Net income, $382.3.

BEC-1 (b) FV=$6,515.56.

BEC-4 FV=$988,559.25.

BEC-6 FV=$28,370.40.

BEC-9 PV=$310,460.

BEC-11 PV=$291,367.50.

BEC-13 PV of principal=$45,639.

BEC-15 PV of interest=$17,943.68.

BEC-16 PV=$1,783,241.60.

BEC-19 PV of future cash flows=$94,262.40.

BEC-21 9 years.

BEC-23 12 payments.

BEC-25 8.85%

BEC-27 (a)$85,186.34.

PD-2A (a) Net pay, $1,786.32.

(b) Payroll tax expense, $317.79.

(d) Cash paid, $546.08.

PD-3A (b) Payroll tax expense, $6,390.

PD-4A (a) Wages payable, $258,000.

(b) Payroll tax expense, $38,830.

PD-2B (a) Net pay, $1,910.37.

(b) Payroll tax expense, $345.48.

(d) Cash paid, $621.28.

PD-3B (b) Payroll tax expense, $7,100.

PD-4B (a) Wages payable, $285,000.

(b) Payroll tax expense, $42,125.

BYPD-2 (a) Temporary, $47,040.

Permanent, $49,348.

PE-1A (a) Balancing totals, $21,205.

PE-2A (a) Balancing totals, $12,350.

(c) Accounts payable, $2,100.

PE-3A (a) Purchases journal – Accounts payable cr., $24,100; Sales journal totals, $16,530; $11,571.

(c) Accounts receivable, $16,490.

Accounts payable, $23,800.

PE-4A Sales journal total, $22,180.

Purchases journal total, $31,100.

Cash receipts journal balancing total, $29,690.

Cash payments journal balancing total, $41,780.

PE-5A (b) Sales journal total, $19,700.

Cash receipts journal balancing total, $101,120.

(e) Trial balance totals, $119,520.

(h) Adj. Trial balance totals,$119,520.

PE-6A (b) Cash receipts journal balancing total, $57,600.

Cash payments journal balancing total, $22,050.

(d) Trial balance totals, $139,800.

(e) Accounts receivable, $18,600.

Accounts payable, $12,350.

PE-1B (a) Balancing totals, $28,255.

PE-2B (a) Balancing totals, $15,490.

(c) Accounts payable, $2,200.

PE-3B (a) Purchases journal - Accounts payable Cr.,

$39,060; Sales journal totals, $12,180; $7,917.

(c) Accounts receivable, $11,980.

Accounts payable, $38,160.

PE-4B Sales journal total, $22,870.

Purchases journal total, $42,500.

Cash receipts journal balancing total, $73,130.

Cash payments journal balancing total, $57,395.

PE-5B (b) Purchases journal total, $44,800.

Cash payments journal balancing total, $46,350.

(e) Trial balance totals, $71,300.

(h) Adj. trial balance totals, $71,500.

PF-1A (c) Current liabilities, $67,756.

PF-2A (b) Capital lease - $62,000.

PF-1B (c) Current liabilities, $82,745.

PF-2B (c) Capital lease - $41,000.