WileyPlus Accounting Solutions

Accounting Principles, 12th Edition Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso ©2015

Complete testbank solutions for WileyPlus solutions online learning environment. Suitable for Accounting 1 and 2 in most colleges.

This is digital download – Official solutions manual accompanying Accounting Principles, 12th edition. WileyPlus Accounting answers, myaccountinglab.

This is not a textbook download!! It is the solutions manual for excercises in WileyPlus all exercises – including BE – DI – EX – P(#)A – BYP – and practice quizzes. read more

Accounting – Study Practice

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Question 1: At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted to $6,000. Using the high-low method, the estimated fixed cost element of power costs is?

Variable Cost per machine hour = (12000-6000)/(7000-2000)=$1.2 per Machine Hour

Fixed Cost Element = 12000-(7000*1.2)= $3600

Question 2: Hartley, Inc. has a product with a selling price per unit of $200, the unit variable cost is $75, and the total monthly fixed costs are $300,000. How much is Hartley’s contribution margin ratio? read more

eCommerce – Chapters 1 and 2

Electronic Commerce 2012: Managerial and Social Networks Perspectives 7e

Microsite refers to a page or pages that are meant to function as an auxiliary supplement to a primary website.

TRUE

Responses to environmental pressures may include activities that exploit opportunities created by changing conditions.

TRUE

Purchasing a computer from dell.com is an example of B2B commerce.

FALSE

E-auctions are becoming less important selling and buying channels to companies and individuals.

FALSE

A shopping facilitator is a type of broker and helps consumers compare prices and service at different stores. read more

Accounting – WileyPlus – Chapter 1 – BE

BRIEF EXERCISES – ANSWERS BELOW

BE1-1.  Use basic accounting equation.

(LO 3)

Presented below is the basic accounting equation. Determine the missing amounts.

  Assets = Liabilities + Owner’s Equity
(a) $90,000 $50,000 ?
(b) ? $44,000 $70,000
(c) $94,000 ? $53,000

BE1-2.  Use basic accounting equation.

(LO 3)

Given the accounting equation, answer each of the following questions.

(a)  The liabilities of Weber Company are $120,000 and the owner’s equity is $232,000. What is the amount of Weber Company’s total assets?

(b)  The total assets of Weber Company are $190,000 and its owner’s equity is $91,000. What is the amount of its total liabilities? read more

Java Programming Lab

20725
Write the definition of a class Counter containing:
An instance variable counter of type int , initialized to 0.
A method called increment that adds one to the instance variable counter
It does not accept parameters or return a value .
A method called getValue that doesn’t accept any parameters
. It returns the value of the instance variable counter .

SOLUTION
public class Counter {
private int counter=0;
public void increment() {
counter++;
} public int getValue() {
return counter;}}

20726
Write the definition of a class Counter containing:
An instance variable named counter of type int .
A constructor that takes one int argument and assigns its value to counter
A method named increment that adds one to counter . It does not take parameters or return a value .
A method named decrement that subtracts one from counter . It also does not take parameters or return a value .
A method named getValue that returns the value of the instance variable counter. read more

Java Programming Lab – 20608 – 20660

20608
Write an expression that evaluates to true if and only if the integer x is greater than the integer y .
So, if the value of x was 15 and the value of y was 11, then the value of your expression would be true.
On the other hand, if the value of x was 145 and the value of y was 211, then the value of your expression would be false.
SOLUTION
x > y
————————————————————————————————————
20618
Write an if/else statement that compares the variable age with 65 , adds 1 to the variable seniorCitizens if age is greater than or equal to 65 , and adds 1 to the variable nonSeniors otherwise.
So if age has the value 73, seniorCitizens has the value 450, and nonSeniors has the value 1066,
then after your code executes seniorCitizens would then have the value 451 but nonSeniors would
still be 1066.
On the other hand, if age has the value 21, then after your code executes seniorCitizens would still
have the value 450 but nonSeniors would then be 1067.
SOLUTION
if ( age >= 65 ) seniorCitizens += 1 ; else nonSeniors += 1 ;
————————————————————————————————————
20619
Write an if/else statement that compares the value of the variables soldYesterday and soldToday , and based upon that comparison assigns salesTrend the value -1 or 1 .
-1 represents the case where soldYesterday is greater than soldToday ; 1 represents the case where soldYesterday is not greater than soldToday .
SOLUTION
if ( soldYesterday > soldToday ) salesTrend = -1 ; else salesTrend = 1 ;
————————————————————————————————————
20620
Write an if/else statement that assigns true to the variable fever if the variable temperature is greater than 98.6 ; otherwise it assigns false to fever .
SOLUTION
if ( temperature > 98.6 ) fever = true ; else fever = false ;
————————————————————————————————————
20621
Write an if/else statement that adds 1 to the variable minors if the variable age is less than 18 , adds 1 to the variable adults if age is 18 through 64 and adds 1 to the variable seniors if age is 65 or older.
SOLUTION
if (age < 18) minors ++ ; else if (age >= 18 && age <= 64) adults ++ ; else seniors ++ ;
———————————————————————————————————— read more

Accounting Principles – Practice Quiz


QUESTION
– From an internal control standpoint, the asset most susceptible to improper diversion and use is

a. Prepaid insurance
b. Cash
c. Buildings
d. Land

ANSWER – B – Cash


QUESTION – In applying the high-low method, which months are relevant?

Month Miles Total Cost
January 80,000 $96,000
February 50,000 80,000
March 70,000 94,000
April 90,000 130,000

a. January and February
b. January and April
c. February and April
d. February and March

ANSWER – C. February and April read more

Java Programming Lab 20522 – 20559

20522
Write an expression that evaluates to true if and only if the value of the integer variable x is equal to zero.
So if the value of x were 3 the expression would be false. Only if the value of x were 0 would the expression be true.
SOLUTION
x==0
————————————————————————————————————
20533
Write an expression that evaluates to true if and only if the variables profits and losses are exactly equal .
SOLUTION
profits==losses
————————————————————————————————————
20554
Given the char variable c , write an expression that is true if and only if the value of c is not the space character .
SOLUTION
c!=’ ‘
————————————————————————————————————
20555
Write an expression that evaluates to true if the value of index is greater than the value of lastIndex .
SOLUTION
index>lastIndex
————————————————————————————————————
20556
Working overtime is defined as having worked more than 40 hours during the week. Given the variable hoursWorked , write an expression that evaluates to true if the employee worked overtime.
SOLUTION
hoursWorked>40
————————————————————————————————————
20557
Write an expression that evaluates to true if the value x is greater than or equal to y .
SOLUTION
x>=y read more

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Accounting Principles – Chapter 8 – Self-Test

Chapter 8 – Accounting – Weygandt

  1. An effective system of internal control will segregate functions between individuals to reduce the potential for errors and fraud. TRUE
  2. When one individual is responsible for all of the related activities, the potential for errors and fraud is increased. TRUE
  3. Independent internal verification should be made periodically and should be done by an employee who is independent of the employee responsible for the information. TRUE
  4. The duties of receiving cash, recording cash receipts transactions, and having custody of cash should be assigned to a single capable individual. FALSE
  5. At the end of an accounting period, a debit balance of $99.00 in the Cash Over and Short account would be reported in the income statement as Miscellaneous Revenue. FALSE
  6. A check is a written order signed by the depositor directing the bank to pay a specified sum of money to a designated recipient. TRUE
  7. Cash proceeds collected by the bank for a depositor would be identified in the bank statement by a credit memorandum to explain the entry. TRUE
  8. The lack of agreement between the balance per books and the balance per bank is due to time lags and errors by either party. TRUE
  9. An outstanding check that was also outstanding the previous month should not be included in the reconciliation of the bank statement this month. FALSE
  10. A postage due expense of $4.75 would be paid out of petty cash and the entry to record the transaction would reduce the balance of the Petty Cash account by that amount. FALSE

Which of the following is a primary concern of internal control?

  1. Promote training programs and control incentives
  2. Enhancing the reliability of accounting data
  3. Ensuring fairness of the financial statements
  4. Encouraging adherence to prescribed managerial performance

ANSWER – B – Enhancing the reliability of accounting data

Each of the following is an attribute of internal control except

  1. segregation of duties.
  2. establishment of responsibility.
  3. independent internal verification.
  4. a sound marketing plan.

ANSWER – D – a sound marketing plan.

A company issues a check for $75 but records it incorrectly as $57. On the bank recon-ciliation, the $18 should be

  1. deducted from the balance per bank.
  2. added to the balance per bank.
  3. deducted from the balance per books.
  4. deducted from the balance per books and added to the balance per bank.

ANSWER – C – deducted from the balance per books.

 

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