4. (a)increase Ex.1-12 1. c 6. c 2. a 7. d 3. e 8. a 4. e 9. e 5. c 10. e Ex.1-13 a. (1)Providedcateringservicesforcash,$71,800. (2) Purchaseoflandforcash,$15,000. (3) Paymentofcashforexpenses,$47,500. (4) Purchaseofsuppliesonaccount,$1,100. (5) Withdrawalofcashbyowner,$5,000. (6) Paymentofcashtocreditors,$4,000. (7) Recognitionofcostofsuppliesused,$1,500. b. $300($40,300 $40,000) – c. $17,800 (–$5,000+$71,800–$49,000) d. $22,800 ($71,800–$49,000) e. $17,800 ($22,800–$5,000) Ex.1-14 No.Itwouldbeincorrecttosaythatthebusinesshadincurredanetlossof $8,000.The excessofthewithdrawalsoverthenetincomefortheperiodisadecreaseinthe Ex.1-15 Jupiter $524,000 Owner'sequityatendofyear($844,000–$320,000) 335,000 Deductowner'sequityatbeginningofyear($550,000–$215,000) $189,000 Netincome(increaseinowner’sequity) Mars $189,000 Increaseinowner’sequity(asdeterminedforJupiter) 36,000 Addwithdrawals $225,000 Netincome
4. (a)increase Ex.1-12 1. c 6. c 2. a 7. d 3. e 8. a 4. e 9. e 5. c 10. e Ex.1-13 a. (1)Providedcateringservicesforcash,$71,800. (2) Purchaseoflandforcash,$15,000. (3) Paymentofcashforexpenses,$47,500. (4) Purchaseofsuppliesonaccount,$1,100. (5) Withdrawalofcashbyowner,$5,000. (6) Paymentofcashtocreditors,$4,000. (7) Recognitionofcostofsuppliesused,$1,500. b. $300($40,300 – $40,000) c. $17,800 (–$5,000+$71,800–$49,000) d. $22,800 ($71,800–$49,000) e. $17,800 ($22,800–$5,000) Ex.1-14 No.Itwouldbeincorrecttosaythatthebusinesshadincurredanetlossof $8,000.The excessofthewithdrawalsoverthenetincomefortheperiodisadecreaseinthe Ex.1-15 Jupiter Owner'sequityatendofyear($844,000–$320,000) $524,000 Deductowner'sequityatbeginningofyear($550,000–$215,000) 335,000 Netincome(increaseinowner’sequity) $189,000 Mars Increaseinowner’sequity(asdeterminedforJupiter) $189,000 Addwithdrawals 36,000 Netincome $225,000
Solution-Manual-for-Financial-Accounting-15th-Edition-by-Warren.docx