FundamentalbFinancialbAccountingbConceptsb11thbEditionb
bybEdmondsbCH01b
Versionb1b
b
b
b
b
b
b
b
b
b
b
1b
ANSWERSbAREbLOCATEDbATbTHEbENDbOFbTHISbDOCUMENTb
SHORTbANSWER.bWritebthebwordborbphrasebthatbbestbcompletesbeachbstatementborb
answersbthebquestion.b
1)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bWalkerbCompanybissuedbcommonbstockbforb$150,000bcash.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
b
bb
bb
b
bb
bb
b
b
b
b
b
QuestionbDetailsb
Difficultyb:b2bMediumb
Topicb:bThebHorizontalbFinancialbStatementsbModelb
LearningbObjectiveb:b01-
10bRecordbbusinessbeventsbusingbabhorizontalbfinancialbstatementsbmodel.b
Bloom'sb:bAnalyzeb
AACSBb:bAnalyticalbThinkingb
,AICPAb:bBBbCriticalbThinkingb
AICPAb:bFNbMeasurementb
Accessibilityb:bScreenbReaderbCompatibleb
Accessibilityb:bKeyboardbNavigationb
Gradableb:bmanualb
Typeb:bStaticb
b
b
DOWNLOADbTHEbTestbBankbforbFundamentalbFinancialbAccountingbConcepts
bbbbbbbbbbbbbbbbbbbbbbbb11thbEditionbEdmonds
nursytestbank.store
FundamentalbFinancialbAccountingbConceptsb11thbEditionb
bybEdmondsbCH01b
Versionb1b
b
b
b
b
b
b
b
b
b
b
2b
2)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bNguyenbCompanybborrowedb$50,000bcashbfrombMetropolitanbBank.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
b
bb
bb
b
bb
bb
b
b
b
b
b
,QuestionbDetailsb
Difficultyb:b2bMediumb
Topicb:bThebHorizontalbFinancialbStatementsbModelb
LearningbObjectiveb:b01-
10bRecordbbusinessbeventsbusingbabhorizontalbfinancialbstatementsbmodel.b
Bloom'sb:bAnalyzeb
AACSBb:bAnalyticalbThinkingb
AICPAb:bBBbCriticalbThinkingb
AICPAb:bFNbMeasurementb
Accessibilityb:bScreenbReaderbCompatibleb
Accessibilityb:bKeyboardbNavigationb
Gradableb:bmanualb
Typeb:bStaticb
b
b
3)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bBellbCompanybprovidedbconsultingbservicesbforb$20,000bcash.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
DOWNLOADbTHEbTestbBankbforbFundamentalbFinancialbAccountingbConcepts
bbbbbbbbbbbbbbbbbbbbbbbb11thbEditionbEdmonds
nursytestbank.store
FundamentalbFinancialbAccountingbConceptsb11thbEditionb
bybEdmondsbCH01b
Versionb1b
b
b
b
b
b
b
b
b
, b
b
3b
b
bb
bb
b
bb
bb
b
b
b
b
b
QuestionbDetailsb
Difficultyb:b2bMediumb
Topicb:bThebHorizontalbFinancialbStatementsbModelb
LearningbObjectiveb:b01-
10bRecordbbusinessbeventsbusingbabhorizontalbfinancialbstatementsbmodel.b
Bloom'sb:bAnalyzeb
AACSBb:bAnalyticalbThinkingb
AICPAb:bBBbCriticalbThinkingb
AICPAb:bFNbMeasurementb
Accessibilityb:bScreenbReaderbCompatibleb
Accessibilityb:bKeyboardbNavigationb
Gradableb:bmanualb
Typeb:bStaticb
b
b
4)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bPiercebCompanybpaidb$40,000bcashbtobpurchasebland.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
b
bb
bb
b
bb
bb
bybEdmondsbCH01b
Versionb1b
b
b
b
b
b
b
b
b
b
b
1b
ANSWERSbAREbLOCATEDbATbTHEbENDbOFbTHISbDOCUMENTb
SHORTbANSWER.bWritebthebwordborbphrasebthatbbestbcompletesbeachbstatementborb
answersbthebquestion.b
1)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bWalkerbCompanybissuedbcommonbstockbforb$150,000bcash.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
b
bb
bb
b
bb
bb
b
b
b
b
b
QuestionbDetailsb
Difficultyb:b2bMediumb
Topicb:bThebHorizontalbFinancialbStatementsbModelb
LearningbObjectiveb:b01-
10bRecordbbusinessbeventsbusingbabhorizontalbfinancialbstatementsbmodel.b
Bloom'sb:bAnalyzeb
AACSBb:bAnalyticalbThinkingb
,AICPAb:bBBbCriticalbThinkingb
AICPAb:bFNbMeasurementb
Accessibilityb:bScreenbReaderbCompatibleb
Accessibilityb:bKeyboardbNavigationb
Gradableb:bmanualb
Typeb:bStaticb
b
b
DOWNLOADbTHEbTestbBankbforbFundamentalbFinancialbAccountingbConcepts
bbbbbbbbbbbbbbbbbbbbbbbb11thbEditionbEdmonds
nursytestbank.store
FundamentalbFinancialbAccountingbConceptsb11thbEditionb
bybEdmondsbCH01b
Versionb1b
b
b
b
b
b
b
b
b
b
b
2b
2)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bNguyenbCompanybborrowedb$50,000bcashbfrombMetropolitanbBank.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
b
bb
bb
b
bb
bb
b
b
b
b
b
,QuestionbDetailsb
Difficultyb:b2bMediumb
Topicb:bThebHorizontalbFinancialbStatementsbModelb
LearningbObjectiveb:b01-
10bRecordbbusinessbeventsbusingbabhorizontalbfinancialbstatementsbmodel.b
Bloom'sb:bAnalyzeb
AACSBb:bAnalyticalbThinkingb
AICPAb:bBBbCriticalbThinkingb
AICPAb:bFNbMeasurementb
Accessibilityb:bScreenbReaderbCompatibleb
Accessibilityb:bKeyboardbNavigationb
Gradableb:bmanualb
Typeb:bStaticb
b
b
3)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bBellbCompanybprovidedbconsultingbservicesbforb$20,000bcash.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
DOWNLOADbTHEbTestbBankbforbFundamentalbFinancialbAccountingbConcepts
bbbbbbbbbbbbbbbbbbbbbbbb11thbEditionbEdmonds
nursytestbank.store
FundamentalbFinancialbAccountingbConceptsb11thbEditionb
bybEdmondsbCH01b
Versionb1b
b
b
b
b
b
b
b
b
, b
b
3b
b
bb
bb
b
bb
bb
b
b
b
b
b
QuestionbDetailsb
Difficultyb:b2bMediumb
Topicb:bThebHorizontalbFinancialbStatementsbModelb
LearningbObjectiveb:b01-
10bRecordbbusinessbeventsbusingbabhorizontalbfinancialbstatementsbmodel.b
Bloom'sb:bAnalyzeb
AACSBb:bAnalyticalbThinkingb
AICPAb:bBBbCriticalbThinkingb
AICPAb:bFNbMeasurementb
Accessibilityb:bScreenbReaderbCompatibleb
Accessibilityb:bKeyboardbNavigationb
Gradableb:bmanualb
Typeb:bStaticb
b
b
4)b
Indicatebhowbeachbeventbaffectsbthebfinancialbstatements.bUsebthebfollowingblettersbtob
recordbyourbanswerbinbthebboxbshownbbelow.bIfbanbeventbincreasesbonebaccountbandbdecreas
esb
anotherbaccountbequallybwithinbthebsamebelement,brecordbI/D.bIfbanbeventbhasbnobimpactbonb
theb
element,brecordbNA.bYoubdobnotbneedbtobenterbdollarbamounts.b
bbbb
b Increaseb=bIbDecreaseb=bDbNotbAffectedb=bNAb
bbbb
bPiercebCompanybpaidb$40,000bcashbtobpurchasebland.b
BalancebSheetb
IncomebStatementb
Statementb
ofbCashb
Flowsb
Assetsb=bLiabilitiesb+bStockholders’b
Equityb
Revenueb−bExpenseb=b
Netb
Incomeb
b
bb
bb
b
bb
bb
