Financial Accounting - 3rd Edition - by J. David Spiceland, Wayne M Thomas, Don Herrmann - ISBN 9780078025549

Financial Accounting
3rd Edition
J. David Spiceland, Wayne M Thomas, Don Herrmann
Publisher: McGraw-Hill Education
ISBN: 9780078025549

Solutions for Financial Accounting

Book Details

Course: The financial accounting course is taken by all business majors, usually in their sophomore year. Financial accounting reports summarize the financial health, operating results, and changes in financial status for a business as viewed over a specific period of time. This information is used by outside parties such as stockholders, creditors, prospective investors, regulatory agencies, and the general public. The financial accounting market can be segmented into three categories: preparer (traditional), balanced, and user (innovative). Spiceland/Thomas/Herrmann falls into the balanced segment by offering a balance between the user and preparer orientation. The decision maker's perspective used throughout the book competes directly with Kimmel's pedagogical approach.Financial Accounting has been revised based on the great success of Financial Accounting 2e, Spiceland, Thomas, Herrmann. The content was developed with feedback from over 480 reviewers and focus group participants from across the country. The authors, David Spiceland, Wayne Thomas and Don Herrmann, have developed a unique text based on over 50 collective years of experience in the classroom. They've brought together best practices like highlighting Common Mistakes, offering frequent Let's Review exercises, integrating the course with a running Continuing Problem, demonstrating the relevance of the course to non-majors with a Career Corner, and communicating it all in a student-friendly Conversational Writing Style.

Sample Solutions for this Textbook

We offer sample solutions for Financial Accounting homework problems. See examples below:

Explanation: Issued Common stock for cash: Cash is an asset account and the amount has increased...Explanation: Journal entry: Journal entry is a set of economic events which can be measured in...Journalize the transactions of S Car Cleaning for the month of June. DateAccount Title and...November 1 Description: Cash is an asset. There is an increase in the asset. So debit the cash...Explanation: Journal entry: Journal entry is a set of economic events which can be measured in...Explanation: Journal entry: Journal entry is a set of economic events which can be measured in...Revenue refers to the income received from the business activity or sale of product or services...Explanation: Journal: Journal is the method of recording monetary business transactions in...Explanation: Adjusting entries: Adjusting entries refers to the entries that are made at the end of...Explanation: Retained earnings: Retained earnings are the portion of earnings kept by the business...Explanation: Journal: Journal is the method of recording monetary business transactions in...Explanation: T-account: An account is referred to as a T-account, because the alignment of the...Explanation: T-account: T-account refers to an individual account, where the increases or decreases...Explanation: T-account: An account is referred to as a T-account, because the alignment of the...Explanation: T-account: T-account refers to an individual account, where the increases or decreases...Explanation: Journal: Journal is the method of recording monetary business transactions in...Explanation: Occupational fraud: Occupational fraud, refers to the fraud carried out intentionally...Explanation: Journal entry: Journal entry is a set of economic events which can be measured in...Explanation: Journal entry: Journal entry is a set of economic events which can be measured in...Chapter 5, Problem 1RQExplanation: Allowance method: It is a method for accounting bad debt expense, where uncollectible...Explanation: Accounts receivable: Accounts receivable is an asset of the firm, which refers to the...Explanation: Note receivable: Note receivable refers to a written promise for the amounts to be...Explanation: On June 10: No entry is required because Person R crashes the hard drive and sends to...Explanation: Accounts receivable: Accounts receivable is an asset of the firm, which refers to the...Explanation: Note receivable: Note receivable refers to a written promise for the amounts to be...Explanation: Allowance method for uncollectible accounts: It is a method for accounting bad debt...Explanation: Financial statement A financial statement is the complete record of financial...Chapter 6, Problem 6.4EChapter 6, Problem 6.5EChapter 6, Problem 6.1APExplanation: Specific identification method: Specific identification method is a method in which the...Perpetual Inventory System: Perpetual Inventory System refers to the inventory system that maintains...Explanation: Perpetual Inventory System: Perpetual Inventory System refers to the inventory system...Explanation: Specific identification method: Specific identification method identifies the cost of...Explanation: Perpetual Inventory System: Perpetual Inventory System refers to the inventory system...Explanation: Perpetual Inventory System: Perpetual Inventory System refers to the inventory system...Explanation: Company W uses the telecommunication lines of other company. Though company W paid for...Explanation: Patent: Patent is a right that is exclusively granted by the Government to an...Chapter 7, Problem 7.5APExplanation: Rate of return on total assets: Rate of return on the total assets is the ratio of the...Explanation: Rate of return on total assets: Rate of return on the total assets is the ratio of the...Explanation: Intangible Assets: These are the long-term assets having no physical existence....Explanation: Rate of return on total assets: Rate of return on the total assets is the ratio of the...Explanation: The essential characteristics of liabilities for purposes of financial reporting are as...Explanation: Notes payable Notes Payable is a written promise to pay a certain amount on a future...Explanation: Notes payable Notes Payable is a written promise to pay a certain amount on a future...Explanation: Current ratio: Current ratio is used to determine the relationship between current...Explanation: Current ratio: Current ratio is used to determine the relationship between current...Chapter 9, Problem 1RQExplanation: Price of bonds}={Present value of principal+Present value of interest...Explanation: Bonds Bonds are a kind of interest bearing notes payable, usually issued by companies,...Explanation: Bonds Bonds are a kind of interest bearing notes payable, usually issued by companies,...Explanation: Bonds Bonds are a kind of interest bearing notes payable, usually issued by companies,...Bonds are a kind of interest bearing notes payable, usually issued by companies, universities and...Explanation: Bonds Bonds are a kind of interest bearing notes payable, usually issued by companies,...Explanation: Calculate the issue price of the bonds. Price of bonds}={Present value of...Chapter 10, Problem 1RQExplanation: Stockholders’ Equity Section: It is refers to the section of the balance sheet that...Explanation: Common stock: These are the ordinary shares that a corporation issues to the investors...Explanation: Preferred stock: The stock that provides a fixed amount of return (dividend) to its...Explanation: Common stock: These are the ordinary shares that a corporation issues to the investors...Explanation: Common stock: These are the ordinary shares that a corporation issues to the investors...Common stock: These are the ordinary shares that a corporation issues to the investors in order to...Explanation: Common stock: These are the ordinary shares that a corporation issues to the investors...Chapter 11, Problem 1RQExplanation: Return on total Assets: It is a measure to evaluate the efficiency of company’s assets....Explanation: Statement of cash flows: Statement of cash flow is a financial statement that shows the...Explanation: Statement of cash flows: Statement of cash flow is a financial statement that shows the...Explanation: Return on total Assets: It is a measure to evaluate the efficiency of company’s assets....Explanation: Statement of cash flows: Statement of cash flow is a financial statement that shows the...Explanation: Cash return on assets: Cash return on assets if the ration that indicates the profit...Explanation: Financial information of a business are analyzed by the analysts, investors, creditors,...Explanation: Risk Ratios: Risk ratios are the metrics used to evaluate the liquidity, capabilities,...Explanation: Risk Ratios: Risk ratios are the metrics used to evaluate the liquidity, capabilities,...Explanation: Financial Ratios: Financial ratios are the metrics used to evaluate the liquidity,...Explanation: Horizontal Analysis: Horizontal analysis is prepared to make comparison between the...Explanation: Horizontal Analysis: Horizontal analysis is prepared to make comparison between the...Explanation: Current Ratio: A part of liquidity ratios, current ratio reflects the ability to oblige...Explanation: Interest: Interest is the cost of borrowing money, in other words Interest is the...The reasons for a company to invest in another company are as follows: To receive the dividends,...Explanation: Common stocked purchased: Investments are the assets. Purchase of the common stock...Explanation: Record the Incorporation JI’s investment on January 1. Investment: The act of...Explanation: Common stocked purchased: Investments are the assets. Purchase of the common stock...Explanation: Record the Company TS’s investment on January 1. Investment: The act of allocating...Explanation: Generally Accepted Accounting Principle (GAAP): Generally Accepted Accounting Principle...Explanation: Periodic Inventory System: Periodic inventory system is a system in which the inventory...

More Editions of This Book

Corresponding editions of this textbook are also available below:

Financial Accounting
2nd Edition
ISBN: 9780078110825
Financial Accounting
1st Edition
ISBN: 9780073379333
FINANCIAL ACCOUNTING (LOOSELEAF) (CUSTOM
6th Edition
ISBN: 9781264551675
FINANCIAL ACCOUNTING CONNECT ACCESS CARD
6th Edition
ISBN: 9781264756032
FINANCIAL ACCOUNTING-CONNECT ACCESS CODE
6th Edition
ISBN: 9781266129834
FINANCIAL ACCT CONNECT ACCESS CARD
6th Edition
ISBN: 9781266297144
FINANCIAL ACCT LL W/ CONNECT ACCESS
6th Edition
ISBN: 9781266387173
FINANCIAL ACCT NSU-OK CONNECT ACCESS >C<
6th Edition
ISBN: 9781266797163
FINANCIAL ACCT. (LL) W/CONNECT
6th Edition
ISBN: 9781265801281
FINANCIAL ACCT. NSU-OK LL/W CONNCECT >C<
6th Edition
ISBN: 9781266786372
FINANCIAL ACCT.(LL) >CUSTOM PKG.<
6th Edition
ISBN: 9781266791789
FINANCIAL ACCT.-CONNECT>CUSTOM<
6th Edition
ISBN: 9781266309298
FINANCIAL ACCT(LOOSELEAF)>CUSTOM<-W/CODE
6th Edition
ISBN: 9781266096211
FINANCIAL ACCT.
6th Edition
ISBN: 9781260786521
FINANCIAL ACCT.(LOOSELEAF)
6th Edition
ISBN: 9781264140312
FINANCIAL ACCT.(LL)-W/CONNECT >CUSTOM<
6th Edition
ISBN: 9781264866816
FINANCIAL ACCT.-CONNECT ACCESS
6th Edition
ISBN: 9781264140299
FINANCIAL ACCOUNTING- ACCESS
6th Edition
ISBN: 9781264961924
FINANCIAL ACTG W/ CONNECT ACCESS
6th Edition
ISBN: 9781265506735
EBK FINANCIAL ACCT.
6th Edition
ISBN: 9781264140336
NWFSC FINANCIAL ACCOUNTING W/CONNECT+
6th Edition
ISBN: 9781264661008
FINANCIAL ACCOUNTING (LOOSELEAF) + CONNE
6th Edition
ISBN: 9781265868581
FINANCIAL ACCOUNTING EBK ACCESS
6th Edition
ISBN: 9781264206643
FINANCIAL ACCT.(LOOSELEAF)-W/CONNECT
6th Edition
ISBN: 9781265889715
FINANCIAL ACCOUNTING CONNECT ACCESS CARD
6th Edition
ISBN: 9781265214128
FINANCIAL ACCOUNTING LL W/ CONNECT
6th Edition
ISBN: 9781265211394
AC FINANCIAL ACCOUNTING
6th Edition
ISBN: 9781266824654
FINANCIAL ACCOUNTING
6th Edition
ISBN: 9781265239435
Financial Accounting
4th Edition
ISBN: 9781259307959
FINANCIAL ACCOUNTINGLL W/CONNECT >IC<
4th Edition
ISBN: 9781259934773
Financial accounting
3rd Edition
ISBN: 9780077506902
FINANCIAL ACCOUNTING- LL W CONNECT PKG
5th Edition
ISBN: 9781260844405
Financial Accounting Connect Access Card
5th Edition
ISBN: 9781260159622
FINANCIAL ACCOUNTING
5th Edition
ISBN: 9781260847826
FIANACIAL ACCOUNTING
5th Edition
ISBN: 9781266704444
Financial Accounting (Connect NOT Included)
4th Edition
ISBN: 9781259930492
FIN ACC W/ CONNECT & PROCTORIO >BI<
5th Edition
ISBN: 9781264523405
FINANCIAL ACCOUNTING
5th Edition
ISBN: 9781266401879
Financial Accounting
5th Edition
ISBN: 9781259914898
FINANCIAL ACCT(LOOSELEAF)>CUSTOM<-W/COD
5th Edition
ISBN: 9781260829228

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