Financial Accounting, 11th Edition
by Robert Libby, Patricia Libby, Frank Hodge, All Chapters 1-13
, TABLE OF CONTENTS
CHAPTER 1: Financial Statements and Business Decisions
Focus Company: Le-Nature’s Inc.
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
CHAPTER 4: Adjustments, Financial Statements, and the Closing Process
Focus Company: Chipotle Mexican Grill
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.
CHAPTER 7: Reporting and Interpreting Cost of Goods Sold and Inventory
Focus Company: Harley-Davidson, Inc.
CHAPTER 8: Reporting and Interpreting Property, Plant, and Equipment; Intangibles;
a and Natural Resources
Focus Company: FedEx Corporation
CHAPTER 9: Reporting and Interpreting Liabilities
Focus Company: Starbucks
CHAPTER 10: Reporting and Interpreting Bond Securities
Focus Company: Amazon
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
Focus Company: The Home Depot
, CHAPTER 1: Financial Statements and Business Decisions
Focus Company: Le-Nature’s Inc.
Answers are at the end of each Chapter
Chapter 1
Student name:
1) Determine the missing amounts for each independent case below. Assume the amounts
shown are at the end of the company's first year of operation.
Company Total Total Total Total Net Income Stockholders '
Name Revenue Assets Expenses Liabilitie (Loss) Equity
s
Randolph $ $ $ $
600,00 450,00 350,00 130,000
0 0 0
Newman $ $ $ $ 75,000
105,00 80,000 10,000
0
Wiseman $ $ $(30,000 $ 100,000
190,00 70,000 )
0
Martin $ $ $ $
180,00 215,00 115,00 75,000
0 0 0
VanTasse $ $ $ $ 79,000
l 55,000 75,000 19,000
, Question aDetails
AACSB a: aKnowledge aApplication
aAICPA a: aBB aCritical aThinking
aAICPA a: aFN aMeasurement
aBloom's a: aApply
Difficulty a: a2 aMedium
Learning aObjective a: a01-01 aRecognize athe ainformation aconveyed ain aeach aof athe afour abasic afinancial
asta aTopic a: aDistinguish adifferent afinancial astatements
Type a: aStatic
Accessibility a: aKeyboard aNavigation
aAccessibility a: aScreen aReader aCompatible
aGradable a: amanual
2) Frank’s aFlower aCompany, aa asmall aretail astore athat asells aflowers, astarted abusiness
aon aJanuary a1, a2022. aAt athe aend aof aJanuary a2022, athe afollowing ainformation awas
aavailable:
Sales aof aflowers afor acash $ a150,000
Sales aof aflowers afor acredit a(not ayet acollected) 30,000
Cost aof aflowers awhich awere asold aand apaid afor aduring aJanuary 90,000
Expenses aduring aJanuary aincurred, aand apaid afor, aduring aJanuary aunless aotherwise anoted:
Salaries $ a10,000
Telephone 500
Office asupplies a(all aused) 300
Electricity 600
Rent aon athe astore afor aJanuary, a2022 a(will anot abe apaid auntil 2,000
February, a2022)
Required:A.Using athe aabove ainformation, aprepare athe aincome astatement afor aFrank’s aFlower
aCompany afor athe amonth aended aJanuary a31, a2022.
B.What ais athe aamount aof acash aflows aprovided aby aoperating aactivities ato abe apresented aon athe
astatement aof acash aflows?