List of Check Figures and Solution Hints
to accompany
Phillips/ Libby/Libby: Fundamentals of Financial Accounting, 3e
Chapter 1
|Mini-Exercises |
|M1-1 |(5) IFRS = International Financial Reporting|
| |Standards |
|M1-2 |(2) F, (8) G |
|M1-3 |(2) I, (9) E |
|M1-4 |(7) L |
|M1-5 |(3) A |
|M1-6 |(8) SE |
|M1-7 |(10) A |
|M1-8 |(3) SE |
|M1-9 |(4) A |
|M1-10 |(7) I/S, SRE |
|M1-11 |(4) (O) |
|M1-12 |(1) (I) |
|M1-13 |Retained earnings, 12/31/10 = $46,000 |
|M1-14 |Net income = $645, Total assets = $16,772 |
| | |
|Exercises |
|E1-1 |(c) $3,500 + $1,300 – $500 = $4,300 |
|E1-2 |(d) $3,200 + $15,700 – $7,200 - $5,300 = |
| |$6,400 |
|E1-3 |(1) Total liabilities = $314,597, (2) |
| |stockholders |
|E1-4 |(1) Total assets = $122,400, (4) 14,550 |
|E1-5 |(f) Dividends, SE |
|E1-6 |(1) Total expenses = $662,000 |
|E1-7 |Total expenses = $130,825 |
|E1-8 |(A) Net income = $18,000 |
| |(C) Stockholders' equity = $78,000 |
|E1-9 |(1) Net income = $40,500, (2) Total |
|...