Survey of Accounting for Non-Accountants, 2nd Edition by DeFond (Complete Solutions)

SOLUTIONS MANUAL




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Complete Solutions Guide

, TABLE OF CONTENTS



Appendix C: The Language of Accountants: Debits and Credits
Appendix E: Accounting and the Time Value of Money
Chapter 1: Financial Accounting and Business Decisions
Chapter 2: Processing Accounting Information
Chapter 3: Accrual Basis of Accounting
Chapter 4: Understanding Accounting Information
Chapter 5: Internal Control and Cash
Chapter 6: Receivables
Chapter 7: Inventory
Chapter 8: Long-Lived Assets
Chapter 9: Liabilities
Chapter 10: Stockholders’ Equity
Chapter 11: Analysis and Interpretation of Financial Statements
Chapter 12: Introduction to Managerial Accounting
Chapter 13: Cost-Volume-Profit Analysis and Planning
Chapter 14: Relevant Costs and Benefits for Decision Making
Chapter 15: Pricing and Other Product Management Decisions
Chapter 16: Operational Budgeting and Profit Planning
Chapter 17: Standard Costs and Performance Reports
Chapter 18: Capital Budgeting Decisions

, Appendix E
Accounting and
the Time Value of Money

EXERCISES
EE-1. Simple and Compound Interest
(LO1)
a. 1: $10,000 x .02 x 6 = $1,200
2: $10,000 x .04 x 4 = $1,600
3: $10,000 x .06 x 3 = $1,800

b. 1: $10,000 x 1.12616 = $11,261.60 - $10,000.00 = $1,261.60
2: $10,000 x 1.16986 = $11,698.60 - $10,000 = $1,698.60
3: $10,000 x 1.19102 = $11,910.20 - $10,000 = $1,910.20


EE-2. Future Value Computation
(LO2, 4)
$3,000 x 1.25971 = $3,779.13


EE-3. Future Value Computation
(LO2, 4)
$3,000 x 3.24640 = $9,739.20


EE-4. Present Value Computation
(LO3, 4)
$3,000 x 0.79383 = $2,381.49


EE-5. Present Value Computation
(LO3, 4)
$3,000 x 2.57710 = $7,731.30




© 2027
Solutions Manual, Appendix E E-1

, EE-6. Future Value Computation
(LO2, 4)
$10,000 x 1.33823 = $13,382.30


EE-7. Present Value Computation
(LO3, 4)
$10,000 x 0.74726 = $7,472.60


EE-8. Future Value Computation
(LO2, 4)
$10,000 x 12.57789 = $125,778.90


EE-9. Future Value Computation
(LO2, 4)
$10,000 x 12.00611 = $120,061.10


EE-10. Present Value Computation
(LO3, 4)
$100,000 x 0.78353 = $78,353.00


EE-11. Future Value Computation
(LO2, 4)
(a) $10,000 x 1.46933 =$14,693.30
(b) $10,000 x 1.48024 = $14,802.40
(c) $10,000 x 1.48595 = $14,859.50


EE-12. Future Value Computation
(LO2, 4)
(a) $5,000 x 1.25971 = $6,298.55
(b) $5,000 x 1.26532 = $6,326.60
(c) $5,000 x 1.26824 = $6,341.20


EE-13. Present Value Computation
(LO3, 4)
(a) $25,000 x 0.79383 = $19,845.75
(b) $25,000 x 0.79031 = $19,757.75
(c) $25,000 x 0.78849 = $19,712.25




© 2027
E-2 Survey of Accounting for Non-Accountants, 2nd Edition