CHECKLIST OF KEY FIGURES
Chapter 12 Accounting Principles
|
Page |
Assignment |
Check Figures |
|
588
|
P12-3A
|
1. Matching principle. Debit Amortization Expense, $8,000; Credit Accumulated Amortization, $8,000 |
|
589
|
P12-4A
|
1. Revenue recognition principle |
|
590
|
P12-6A
|
2001 Revenue, $6,000,000; Gross profit,$1,500,000 |
|
590
|
P12-7A
|
(a) 2002 Revenue, $833,333; Gross profit, $333,333 |
|
590
|
P12-8A
|
(a) 2002 Gross profit, $320,000 (b) 2002 Gross profit, $288,000 |
|
591
|
P12-9A
|
(a) 2000, Gross profit, $64,000 (c) 2004, Gross profit, ($10,000) |
|
591
|
P12-10A
|
(a) 2. Going concern assumption |
|
592
|
P12-3B
|
1. Cost principle. Debit Equipment, $35,000; Credit Cash, $35,000 |
|
593
|
P12-4B
|
2.
Revenue recognition principle
|
|
593
|
P12-5B
|
(a) Net income, $65,000 (b) Net income, $20,000 |
|
594
|
P12-6B
|
2001 Revenue, $4,200,000; Gross profit,$1,200,000 |
|
594
|
P12-7B
|
(a) 2002 Revenue, $666,400; Gross profit, $166,400 |
|
595
|
P12-8B
|
(a) 2002 Revenue, $269,400; Gross profit, $94,400 (b) 2002 Gross profit, $87,500 |
|
595
|
P12-9B
|
(a) 2001, Gross profit, $57,600 (c) 2004, Gross profit, ($114,200) |
|
595
|
P12-10B
|
(a) 1. Economic entity assumption |
|
598
|
BYP12-5
|
(b) 2003 Revenue, Devany Construction Division, $10,000,000; Security Equipment Division, $5,500,000 |