Financial Accounting
11th Edition
ST
UV
SOLUTIONS
IA
MANUAL
_A
PP
Robert Libby
Patricia Libby
RO
Frank Hodge
────────────────────────────────────────────────────
VE
Comprehensive Solutions Manual for Instructors
and Students
D?
© Robert Libby, Patricia Libby & Frank Hodge. All rights reserved. Reproduction or
distribution without permission is prohibited.
?
© Successhands
, Solutions Manual for Financial Accounting (11th Edition)
Robert Libby, Patricia Libby & Frank Hodge
ISBN: 9781264229734
ST
Chapter 1. Financial Statements and Business Decisions
Focus Company: Le-Nature’s Inc.
UV
Chapter 2. Investing and Financing Decisions and the Accounting System
Focus Company: Chipotle Mexican Grill
Chapter 3. Operating Decisions and the Accounting System
Focus Company: Chipotle Mexican Grill
IA
Chapter 4. Adjustments, Financial Statements, and the Closing Process
Focus Company: Chipotle Mexican Grill
_A
Chapter 5. Communicating and Analyzing Accounting Information
Focus Company: Apple Inc.
Chapter 6. Reporting and Interpreting Sales Revenue, Receivables, and Cash
Focus Company: Skechers U.S.A.
PP
Chapter 7. Reporting and Interpreting Cost of Goods Sold and Inventory
Focus Company: Harley-Davidson, Inc.
RO
Chapter 8. Reporting and Interpreting Property, Plant, and Equipment;
Intangibles; and Natural Resources
Focus Company: FedEx Corporation
Chapter 9. Reporting and Interpreting Liabilities
VE
Focus Company: Starbucks
Chapter 10. Reporting and Interpreting Bond Securities
Focus Company: Amazon
D?
Chapter 11. Reporting and Interpreting Stockholders’ Equity
Focus Company: Microsoft
Chapter 12. Statement of Cash Flows
?
Focus Company: National Beverage Corporation
Chapter 13. Analyzing Financial Statements
© Successhands
, ?
D?
VE
RO
PP
© Successhands
_A
IA
UV
ST
, FULL SOLUTION MANUAL FOR
Financial Accounting 11th Edition Robert Libby,
Patricia Libby, Frank Hodge
SMT
UEDV
Chapter 1
Financial Statements and Business Decisions
ICAO
ANSWERS TO QUESTIONS
_NA
1. Accounting is a system that collects and processes (analyzes, measures, and
records) financial information about an organization and reports that information to
decision makers.
PNPO
2. Financial accounting involves preparation of the four basic financial statements and
related disclosures for external decision makers. Managerial accounting involves
the preparation of detailed plans, budgets, forecasts, and performance reports for
internal decision makers.
RISO
3. Financial reports are used by both internal and external groups and individuals. The
internal groups are comprised of the various managers of the entity. The external
groups include the owners, investors, creditors, governmental agencies, other
interested parties, and the public at large.
SVE
4. Investors purchase all or part of a business and hope to gain by receiving part of
what the company earns and/or selling their ownership interest in the company in
the future at a higher price than they paid. Creditors lend money to a company for
EDU
a specific length of time and hope to gain by charging interest on the loan.
?R?
Financial Accounting, 11/e 2-1
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
11th Edition
ST
UV
SOLUTIONS
IA
MANUAL
_A
PP
Robert Libby
Patricia Libby
RO
Frank Hodge
────────────────────────────────────────────────────
VE
Comprehensive Solutions Manual for Instructors
and Students
D?
© Robert Libby, Patricia Libby & Frank Hodge. All rights reserved. Reproduction or
distribution without permission is prohibited.
?
© Successhands
, Solutions Manual for Financial Accounting (11th Edition)
Robert Libby, Patricia Libby & Frank Hodge
ISBN: 9781264229734
ST
Chapter 1. Financial Statements and Business Decisions
Focus Company: Le-Nature’s Inc.
UV
Chapter 2. Investing and Financing Decisions and the Accounting System
Focus Company: Chipotle Mexican Grill
Chapter 3. Operating Decisions and the Accounting System
Focus Company: Chipotle Mexican Grill
IA
Chapter 4. Adjustments, Financial Statements, and the Closing Process
Focus Company: Chipotle Mexican Grill
_A
Chapter 5. Communicating and Analyzing Accounting Information
Focus Company: Apple Inc.
Chapter 6. Reporting and Interpreting Sales Revenue, Receivables, and Cash
Focus Company: Skechers U.S.A.
PP
Chapter 7. Reporting and Interpreting Cost of Goods Sold and Inventory
Focus Company: Harley-Davidson, Inc.
RO
Chapter 8. Reporting and Interpreting Property, Plant, and Equipment;
Intangibles; and Natural Resources
Focus Company: FedEx Corporation
Chapter 9. Reporting and Interpreting Liabilities
VE
Focus Company: Starbucks
Chapter 10. Reporting and Interpreting Bond Securities
Focus Company: Amazon
D?
Chapter 11. Reporting and Interpreting Stockholders’ Equity
Focus Company: Microsoft
Chapter 12. Statement of Cash Flows
?
Focus Company: National Beverage Corporation
Chapter 13. Analyzing Financial Statements
© Successhands
, ?
D?
VE
RO
PP
© Successhands
_A
IA
UV
ST
, FULL SOLUTION MANUAL FOR
Financial Accounting 11th Edition Robert Libby,
Patricia Libby, Frank Hodge
SMT
UEDV
Chapter 1
Financial Statements and Business Decisions
ICAO
ANSWERS TO QUESTIONS
_NA
1. Accounting is a system that collects and processes (analyzes, measures, and
records) financial information about an organization and reports that information to
decision makers.
PNPO
2. Financial accounting involves preparation of the four basic financial statements and
related disclosures for external decision makers. Managerial accounting involves
the preparation of detailed plans, budgets, forecasts, and performance reports for
internal decision makers.
RISO
3. Financial reports are used by both internal and external groups and individuals. The
internal groups are comprised of the various managers of the entity. The external
groups include the owners, investors, creditors, governmental agencies, other
interested parties, and the public at large.
SVE
4. Investors purchase all or part of a business and hope to gain by receiving part of
what the company earns and/or selling their ownership interest in the company in
the future at a higher price than they paid. Creditors lend money to a company for
EDU
a specific length of time and hope to gain by charging interest on the loan.
?R?
Financial Accounting, 11/e 2-1
© McGraw Hill LLC. All rights reserved. No reproduction or distribution without the prior written consent of McGraw Hill LLC.
