Principles of Financial Accounting.
Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Textbook Question
Chapter 1, Problem 2BTN

COMMUNICATING IN PRAC TICE

APPLE

Refer to this chapter’s opening feature about Apple. Assume that the owners, sometime during their first five years of business, desire to expand their computer product services to meet business demand regarding computing services. They eventually decide to meet with their banker to discuss a loan to allow Apple to expand and offer computing services.

Required

  1. 1. Prepare a half-page report outlining the information you would request from the owners if you were the loan officer.
  2. 2. Indicate whether the information you request and your loan decision are affected by the form of business organization for Apple.
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Chapter 1 Solutions

Principles of Financial Accounting.

Ch. 1 - Describe the internal role of accounting for...Ch. 1 - Prob. 7DQCh. 1 - What type of accounting information might be...Ch. 1 - Why is accounting described as a service activity?Ch. 1 - What are some accounting-related professions?Ch. 1 - Prob. 11DQCh. 1 - Prob. 12DQCh. 1 - What does the concept of objectivity imply for...Ch. 1 - Prob. 14DQCh. 1 - Why is the revenue recognition principle needed?...Ch. 1 - Describe the three basic forms of business...Ch. 1 - Define (a) assets, (b) liabilities, (c) equity,...Ch. 1 - Prob. 18DQCh. 1 - Identify the two main categories of accounting...Ch. 1 - What do accountants mean by the term revenue?Ch. 1 - Prob. 21DQCh. 1 - Prob. 22DQCh. 1 - Prob. 23DQCh. 1 - Give two examples of expenses a business might...Ch. 1 - What is the purpose of the statement of retained...Ch. 1 - Prob. 26DQCh. 1 - Prob. 27DQCh. 1 - Define and explain return on assets.Ch. 1 - Define return and risk. Discuss the trade-off...Ch. 1 - Prob. 30DQCh. 1 - Prob. 31DQCh. 1 - Prob. 32DQCh. 1 - GOOGLE Access the SEC EDGAR database (SEC.gov) and...Ch. 1 - Understanding accounting Choose from the following...Ch. 1 - Identifying accounting users C2 Identify the...Ch. 1 - Prob. 3QSCh. 1 - Prob. 4QSCh. 1 - Prob. 5QSCh. 1 - Identifying accounting principles and assumptions...Ch. 1 - Applying the accounting equation A1 a. Total...Ch. 1 - Applying the accounting equation Use the...Ch. 1 - Use Google 's December 31, 2017, financial...Ch. 1 - Prob. 10QSCh. 1 - Prob. 11QSCh. 1 - Prob. 12QSCh. 1 - Prob. 13QSCh. 1 - Prob. 14QSCh. 1 - Prob. 15QSCh. 1 - Prob. 16QSCh. 1 - Prob. 17QSCh. 1 - Classifying activities reflected in the accounting...Ch. 1 - Prob. 2ECh. 1 - Prob. 3ECh. 1 - Prob. 4ECh. 1 - Prob. 5ECh. 1 - Prob. 6ECh. 1 - Prob. 7ECh. 1 - Using the accounting equation Determine the...Ch. 1 - Using the accounting equation Answer the following...Ch. 1 - Analysis using the accounting equation Zen began a...Ch. 1 - Identifying effects of transactions on the...Ch. 1 - Identifying effects of transactions on the...Ch. 1 - Identifying effects of transactions using the...Ch. 1 - Prob. 14ECh. 1 - Preparing an income statement On October 1, Ebony...Ch. 1 - Preparing a statement of retained earnings Use the...Ch. 1 - Prob. 17ECh. 1 - Preparing a statement of cash flows Use the...Ch. 1 - Prob. 19ECh. 1 - Prob. 20ECh. 1 - Match each transaction a through e to one of tire...Ch. 1 - Prob. 22ECh. 1 - Using the accounting equation A1 Answer the...Ch. 1 - Identifying effects of transactions on financial...Ch. 1 - Computing missing information using accounting...Ch. 1 - Preparing an income statement P2 As of December...Ch. 1 - Prob. 4APCh. 1 - Prob. 5APCh. 1 - Preparing a statement of cash flows P2 Following...Ch. 1 - Prob. 7APCh. 1 - Prob. 8APCh. 1 - Determining expenses, liabilities. equity, and...Ch. 1 - Prob. 11APCh. 1 - Prob. 12APCh. 1 - Describing business activities C5 A start-up...Ch. 1 - Describing business activities An organization...Ch. 1 - Prob. 1BPCh. 1 - Prob. 3BPCh. 1 - Prob. 4BPCh. 1 - Prob. 5BPCh. 1 - Prob. 6BPCh. 1 - Prob. 8BPCh. 1 - Determining expenses, liabilities, equity, and...Ch. 1 - Prob. 11BPCh. 1 - Identifying risk and return All business decisions...Ch. 1 - Prob. 13BPCh. 1 - Prob. 14BPCh. 1 - Prob. 1SPCh. 1 - COMPANY ANALYSIS Key financial figures for Apple's...Ch. 1 - Prob. 2AACh. 1 - Prob. 3AACh. 1 - ETHICS CHALLENGE Tana Thorne works in a public...Ch. 1 - COMMUNICATING IN PRAC TICE APPLE Refer to this...Ch. 1 - TAKING IT TO THE NET A2 Visit the EDGAR database...Ch. 1 - ENTREPRENEURIAL DECISION APPLE Refer to this...
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  • Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin' Brands' financial statements. In this chapter, we will use financial Internet websites (specifically, www.morningstar.com and www.google.com / finance) to analyze HP Inc., a computer hardware company. Once on either website, you simply enter HP Inc.'s ticker symbol (HPQ) to obtain the financial information needed. The text mentions that financial statement analysis has two major components: a trend analysis, where we evaluate changes in key ratios over time, and a freer analysis, where we compare financial ratios with firms that are in the same industry and/or line of business. We will do both of these types of analysis in this problem. Through the Morningstar website, you can find the firm's financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firm's trend analysis. (At the bottom of the screen you will see that you can click "Glossary to find definitions for the different ratios For example, Morningstar's Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) On the Google Finance site, you can find the firms financial statements for the four most recent years or the five most recent quarters and key financial data for related companies for the most recent year or quarter. We will use the related companies' annual data to conduct the firm's peer analysis. Notice that when you go to the "Related Companies" screen, you can "add or remove columns." Click on that phrase, and you can check which peer data items you'd like to show on tire computer screen. Also, once you have chosen the data, you can click on a term, and the companies will be ranked in either ascending or descending order for tire specific term selected. 6. From the Google Finance site, look at HP's profitability ratios (as measured by its profit margin, ROA, and ROE). How do these ratios compare with those of its peers?
    CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Financial Health ratios, what has happened to HPs liquidity position over the past 10 years?
    CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Profitability ratios, what has happened to HPs profit margin (net margin %) over the past 10 years? What has happened to its return on assets (ROA) and return on equity (ROE) over the past 10 years?
  • CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Financial Health ratios, what has happened to HPs financial leverage position (looking at both its financial leverage and debt/equity ratios) over the past 10 years?
    CONDUCTING A FINANCIAL RATIO ANALYSIS ON HP INC. Use online resources to work on this chapters questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin Brands financial statements. In this chapter, we will use a financial Internet website, www.morningstar.com, to analyze HP Inc., a computer hardware company. Once on the website, you simply enter HP Inc.s ticker symbol (HPQ) to obtain the financial information needed. We will also perform a trend analysis, where we evaluate changes in key ratios over time. Through the Morningstar website, you can find the firms financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firms trend analysis. (At the bottom of the screen you will see that you can click Glossary to find definitions for the different ratios. For example, Morningstars Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) Looking at Morningstars Efficiency ratios, how well has it managed its assets (as measured by days sales outstanding, inventory turnover, fixed assets turnover, and total assets turnover) over the past 10 years?
    Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin' Brands' financial statements. In this chapter, we will use financial Internet websites (specifically, www.morningstar.com and www.google.com/finance) to analyze HP Inc., a computer hardware company. Once on either website, you simply enter HP Inc.'s ticker symbol (HPQ) to obtain the financial information needed. The text mentions that financial statement analysis has two major components: a trend analysis, where we evaluate changes in key ratios over time, and a freer analysis, where we compare financial ratios with firms that are in the same industry and/or line of business. We will do both of these types of analysis in this problem. Through the Morningstar website, you can find the firm's financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firm's trend analysis. (At the bottom of the screen you will see that you can click "Glossary" to find definitions for the different ratios. For example, Morningstar's Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) On the Google Finance site, you can find the firms financial statements for the four most recent years or the five most recent quarters and key financial data for related companies for the most recent year or quarter. We will use the related companies' annual data to conduct the firm's peer analysis. Notice that when you go to the "Related Companies" screen, you can "add or remove columns." Click on that phrase, and you can check which peer data items you'd like to show on tire computer screen. Also, once you have chosen the data, you can click on a term, and the companies will be ranked in either ascending or descending order for the specific term selected. 1. Looking at Morningstar's Financial Health ratios, what has happened to HPs liquidity position over the past 10 years?
  • Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin' Brands' financial statements. In this chapter, we will use financial Internet websites (specifically, www.morningstar.com and www.google.com / finance) to analyze HP Inc., a computer hardware company. Once on either website, you simply enter HP Inc.'s ticker symbol (HPQ) to obtain the financial information needed. The text mentions that financial statement analysis has two major components: a trend analysis, where we evaluate changes in key ratios over time, and a peer analysis, where we compare financial ratios with firms that are in the same industry and/or line of business. We will do both of these types of analysis in this problem. Through the Morningstar website, you can find the firm's financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firm's trend analysis. (At the bottom of the screen you will see that you can click "Glossary" to find definitions for the different ratios. For example, Morningstar's Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) On the Google Finance site, you can find the firms financial statements for the four most recent years or the five most recent quarters and key financial data for related companies for the most recent year or quarter. We will use the related companies' annual data to conduct the firm's peer analysis. Notice that when you go to the "Related Companies" screen, you can "add or remove columns." Click on that phrase, and you can check which peer data items you'd like to show on tire computer screen. Also, once you have chosen the data, you can click on a term, and the companies will be ranked in either ascending or descending order for the specific term selected. 4. Identify Google Finance's list of related companies to HP. Which is the largest in terms of market capitalization? Which is the smallest? Where does HT rank (in terms of market capitalization)?
    Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin' Brands' financial statements. In this chapter, we will use financial Internet websites (specifically, www.morningstar.com and www.google.com/finance) to analyze HP Inc., a computer hardware company. Once on either website, you simply enter HP Inc.'s ticker symbol (HPQ) to obtain the financial information needed. The text mentions that financial statement analysis has two major components: a trend analysis, where we evaluate changes in key ratios over time, and a freer analysis, where we compare financial ratios with firms that are in the same industry and/or line of business. We will do both of these types of analysis in this problem. Through the Morningstar website, you can find the firm's financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability', Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firm's trend analysis. (At the bottom of the screen you will see that you can click "Glossary to find definitions for the different ratios. For example, Morningstar's Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) On the Google Finance site, you can find the firm's financial statements for the four most recent years or the five most recent quarters and key financial data for related companies for the most recent year or quarter. We will use the related companies' annual data to conduct the firm's peer analysis. Notice that when you go to the "Related Companies" screen, you can "add or remove columns, Click on that phrase, and you can check which peer data items you'd like to show on tire computer screen. Also, once you have chosen the data, you can click on a term, and the companies will be ranked in either ascending or descending order for tire specific term selected. 8. From tire information gained in question 7 and using the DuPont analysis, what are HP's strengths and weaknesses compared to those of its competitors?
    Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin' Brands' financial statements. In this chapter, we will use financial Internet websites (specifically, www.morningstar.com and www.google.com/finance) to analyze HP Inc., a computer hardware company. Once on either website, you simply enter HP Inc.'s ticker symbol (HPQ) to obtain the financial information needed. The text mentions that financial statement analysis has two major components: a trend analysis, where we evaluate changes in key ratios over time, and a freer analysis, where we compare financial ratios with firms that are in the same industry and/or line of business. We will do both of these types of analysis in this problem. Through the Morningstar website, you can find the firm's financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firm's trend analysis. (At the bottom of the screen you will see that you can click "Glossary" to find definitions for the different ratios. For example, Morningstar's Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) On the Google Finance site, you can find the firms financial statements for the four most recent years or the five most recent quarters and key financial data for related companies for the most recent year or quarter. We will use the related companies' annual data to conduct the firm's peer analysis. Notice that when you go to the "Related Companies" screen, you can "add or remove columns." Click on that phrase, and you can check which peer data items you'd like to show on tire computer screen. Also, once you have chosen the data, you can click on a term, and the companies will be ranked in either ascending or descending order for tire specific term selected. 2. Looking at Morningstar's Financial Health ratios, what has happened to HP's financial leverage position over tire past 10 years?
  • Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin' Brands' financial statements. In this chapter, we will use financial Internet websites (specifically, www.morningstar.com and www.google.com/finance) to analyze HP Inc., a computer hardware company. Once on either website, you simply enter HP Inc.'s ticker symbol (HPQ) to obtain the financial information needed. The text mentions that financial statement analysis has two major components: a trend analysis, where we evaluate changes in key ratios over time, and a peer analysis, where we compare financial ratios with firms that are in the same industry and/or line of business. We will do both of these types of analysis in this problem. Through the Morningstar website, you can find the firm's financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firm's trend analysis. (At the bottom of the screen you will see that you can click "Glossary" to find definitions for the different ratios. For example, Morningstar's Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) On the Google Finance site, you can find the firms financial statements for the four most recent years or the five most recent quarters and key financial data for related companies for the most recent year or quarter. We will use the related companies' annual data to conduct the firm's peer analysis. Notice that when you go to the "Related Companies" screen, you can "add or remove columns." Click on that phrase, and you can check which peer data items you'd like to show on tire computer screen. Also, once you have chosen the data, you can click on a term, and the companies will be ranked in either ascending or descending order for tire specific term selected. 5. From the Google Finance site, look at HP's liquidity position (as measured by its current ratio). How does this ratio compare with those of its peers?
    Conducting a Financial Ratio Analysis on HP INC. Use online resources to work on this chapter's questions. Please note that website information changes over time, and these changes may limit your ability to answer some of these questions. In Chapter 3, we looked at Dunkin' Brands' financial statements. In this chapter, we will use financial Internet websites (specifically, www.morningstar.com and wnvcv.google.com/finance) to analyze HP Inc., a computer hardware company. Once on either website, you simply enter HP Inc.'s ticker symbol (HPQ) to obtain the financial information needed. The text mentions that financial statement analysis has two major components: a trend analysis, where we evaluate changes in key ratios over time, and a peer analysis, where we compare financial ratios with firms that are in the same industry and/or line of business. We will do both of these types of analysis in this problem. Through the Morningstar website, you can find the firm's financials (Income Statement, Balance Sheet, and Cash Flow) on an annual or quarterly basis for the five most recent time periods. In addition, the site contains Key Ratios (Profitability, Growth, Cash Flow, Financial Health, and Efficiency) for 10 years. We will use the Key Ratios on this site to conduct the firm's trend analysis. (At the bottom of the screen you will see that you can click "Glossary to find definitions for the different ratios For example, Morningstar's Financial Leverage ratio is the same as the Equity multiplier that we use in the textbook.) On the Google Finance site, you can find the firms financial statements for the four most recent years or the five most recent quarters and key financial data for related companies for the most recent year or quarter. We will use the related companies' annual data to conduct the firms peer analysis. Notice that when you go to the "Related Companies" screen, you can add or remove columns. Click on that phrase, and you can check which peer data items you'd like to show on tire computer screen. Also, once you have chosen the data, you can click on a term, and the companies will be ranked in either ascending or descending order for the specific term selected. 7. From the Google Finance site, use the DuPont analysis to determine the total assets turnover ratio for each of tire peer companies. (Hint ROA = Profit margin Total assets turnover.) Once you've calculated each peer 's total assets turnover ratio, then you can use the DuPont analysis to calculate each peer's equity multiplier.
    Question 4.  On March 1, 2023, Santana Rey launched a computer services company, Business Solutions, that is organized as a proprietorship and provides consulting services, computer system installations, and custom program development. March 1           S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company. March 3           The company purchased $1,420 of computer supplies on credit. March 6           The company billed Easy Leasing $4,800 for services performed in installing a new web server. March 8           The company paid $1,420 cash for the computer supplies purchased on credit on March 3. March 10         The company hired a part-time assistant. March 12         The company billed Easy Leasing another $1,400 for services performed. March 15         The company received $4,800 cash from Easy Leasing as partial payment toward its account. March 17         The company paid $805 cash to repair its computer equipment. March 20…
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