SOLUTIONS MANUAL for Financial Accounting Fundamentals, 8th Edition By John Wild.

TABLE OF CONTENTS:
1 Accounting in Business
Importance of Accounting
Users of Accounting Information
Opportunities in Accounting
Fundamentals of Accounting
Ethics—A Key Concept
Generally Accepted Accounting Principles
Conceptual Framework
Business Transactions and Accounting
Accounting Equation
Transaction Analysis
Summary of Transactions
Financial Statements
Income Statement
Statement of Retained Earnings
Balance Sheet
Statement of Cash Flows
Decision Analysis—Return on Assets
2 Accounting for Business Transactions
Basis of Financial Statements
Source Documents
“Account” Underlying Financial Statements
Ledger and Chart of Accounts
Double-Entry Accounting
Debits and Credits
Double-Entry System
Analyzing and Processing Transactions
Journalizing and Posting Transactions
Processing Transactions—An Example
Summarizing Transactions in a Ledger
Trial Balance and Financial Statements
Preparing a Trial Balance
Financial Statements Prepared from Trial Balance
Decision Analysis—Debt Ratio
3 Adjusting Accounts for Financial Statements
Timing and Reporting
The Accounting Period
Accrual Basis versus Cash Basis
Recognizing Revenues and Expenses
Framework for Adjustments
Deferral of Expense
Prepaid Insurance
Supplies
Other Prepaid Expenses
Depreciation
Deferral of Revenue
Unearned Consulting Revenue
Accrued Expense
Accrued Salaries Expense
Accrued Interest Expense
Future Cash Payment of Accrued Expenses
Accrued Revenue
Accrued Services Revenue
Accrued Interest Revenue
Future Cash Receipt of Accrued Revenues
Links to Financial Statements
Trial Balance and Financial Statements
Adjusted Trial Balance
Preparing Financial Statements
Closing Process
Temporary and Permanent Accounts
Recording Closing Entries
Post-Closing Trial Balance
Accounting Cycle
Classified Balance Sheet
Classification Structure
Classification Categories
Decision Analysis—Profit Margin and Current Ratio
Appendix 3A Alternative Accounting for Prepayments
Appendix 3B Work Sheet as a Tool
Appendix 3C Reversing Entries
4 Accounting for Merchandising Operations
Merchandising Activities
Reporting Income for a Merchandiser
Reporting Inventory for a Merchandiser
Operating Cycle for a Merchandiser
Inventory Systems
Merchandise Purchases
Purchases without Cash Discounts
Purchases with Cash Discounts
Purchases with Returns and Allowances
Purchases and Transportation Costs
Merchandise Sales
Sales without Cash Discounts
Sales with Cash Discounts
Sales with Returns and Allowances
Adjusting and Closing for Merchandisers
Adjusting Entries for Merchandisers
Closing Entries for Merchandisers
Summary of Merchandising Entries
More on Financial Statement Formats
Multiple-Step Income Statement
Single-Step Income Statement
Classified Balance Sheet
Decision Analysis—Acid-Test and Gross Margin Ratios
Appendix 4A Periodic Inventory System
Appendix 4B Adjusting Entries under New Revenue Recognition Rules
Appendix 4C Net Method for Merchandising
5 Inventories and Cost of Sales
Inventory Basics
Determining Inventory Items
Determining Inventory Costs
Internal Controls and Taking a Physical Count
Inventory Costing under a Perpetual System
Inventory Cost Flow Methods
Inventory Costing Illustration
Specific Identification
First-In, First-Out
Last-In, First-Out
Weighted Average
Financial Statement Effects of Costing Methods
Tax Effects of Costing Methods
Valuing Inventory at LCM and analyzing Inventory Errors
Lower of Cost or Market
Financial Statement Effects of Inventory Errors
Decision Analysis—Inventory Turnover and Days’ Sales in Inventory
Appendix 5A Inventory Costing under a Periodic System
Appendix 5B Inventory Estimation Methods
6 Cash, Fraud, and Internal Control
Fraud and Internal Control
Purpose of Internal Control
Principles of Internal Control
Technology, Fraud, and Internal Control
Blockchain as a Control
Limitations of Internal Control
Control of Cash
Cash, Cash Equivalents, and Liquidity
Cash Management
Control of Cash Receipts
Control of Cash Payments
Banking Activities as Controls
Basic Bank Services
Bank Statement
Bank Reconciliation
Decision Analysis—Days’ Sales Uncollected
Appendix 6A Documentation and Verification
7 Accounting for Receivables
Valuing Accounts Receivable
Direct Write-Off Method
Allowance Method
Estimating Bad Debts for Allowance Method
Percent of Sales Method
Percent of Receivables Method
Aging of Receivables Method
Notes Receivable
Computing Maturity and Interest
Recording Notes Receivable
Valuing and Settling Notes
Disposal of Receivables
Decision Analysis—Accounts Receivable Turnover
8 Accounting for Long-Term Assets
Cost Determination
Machinery and Equipment
Buildings
Land Improvements
Land
Lump-Sum Purchase
Depreciation
Factors in Computing Depreciation
Depreciation Methods
Partial-Year Depreciation
Change in Estimates
Additional Expenditures
Ordinary Repairs
Betterments and Extraordinary Repairs
Disposals of Plant Assets
Discarding Plant Assets
Selling Plant Assets
Cost Determination and Depletion
Plant Assets Tied into Extracting
Cost Determination and Amortization
Types of Intangibles
Decision Analysis—Total Asset Turnover
Appendix 8A Exchanging Plant Assets
9 Accounting for Current Liabilities
Known Liabilities
Characteristics of Liabilities
Examples of Known Liabilities
Accounts Payable
Sales Taxes Payable
Unearned Revenues
Short-Term Notes Payable
Payroll Liabilities
Employee Payroll and Deductions
Employer Payroll Taxes
Employee and Employer Payroll Taxes Summary
Internal Control of Payroll
Multi-Period Known Liabilities
Estimated Liabilities
Health and Pension Benefits
Vacation Benefits
Bonus Plans
Warranty Liabilities
Multi-Period Estimated Liabilities
Contingent Liabilities
Accounting for Contingent Liabilities
Applying Rules of Contingent Liabilities
Uncertainties That Are Not Contingencies
Decision Analysis—Times Interest Earned Ratio
Appendix 9A Payroll Reports, Records, and Procedures
Appendix 9B Corporate Income Taxes
10 Accounting for Long-Term Liabilities
Basics of Bonds
Bond Financing
Bond Issuing
Bond Trading
Par Bonds
Discount Bonds
Bond Discount or Premium
Issuing Bonds at a Discount
Premium Bonds
Issuing Bonds at a Premium
Bond Retirement
Long-Term Notes Payable
Installment Notes
Mortgages
Decision Analysis—Debt Features and the Debt-to-Equity Ratio
Appendix 10A Bond Pricing 401
Appendix 10B Effective Interest Amortization
Appendix 10C Leases and Pensions
11 Corporate Reporting and Analysis
Corporate Form of Organization
Corporate Advantages
Corporate Disadvantages
Corporate Organization and Management
Corporate Stockholders
Corporate Stock
Common Stock
Issuing Par Value Stock
Issuing No-Par Value Stock
Issuing Stated Value Stock
Issuing Stock for Noncash Assets
Dividends
Cash Dividends
Stock Dividends
Stock Splits
Financial Statement Effects of Dividends and Splits
Preferred Stock
Issuance of Preferred Stock
Dividend Preference of Preferred Stock
Reasons for Issuing Preferred Stock
Treasury Stock
Purchasing Treasury Stock
Reissuing Treasury Stock
Reporting of Equity
Statement of Retained Earnings
Statement of Stockholders’ Equity
Decision Analysis—Earnings per Share, Price-Earnings Ratio, and Dividend Yield
12 Reporting Cash Flows
Basics of Cash Flow Reporting
Purpose of the Statement of Cash Flows
Importance of Cash Flows
Measurement of Cash Flows
Classification of Cash Flows
Noncash Investing and Financing
Format of the Statement of Cash Flows
Preparing the Statement of Cash Flows
Cash Flows from Operating
Indirect and Direct Methods of Reporting
Applying the Indirect Method
Summary of Adjustments for Indirect Method
Cash Flows from Investing
Three-Step Analysis
Analyzing Noncurrent Assets
Cash Flows from Financing
Three-Step Analysis
Analyzing Noncurrent Liabilities
Analyzing Equity
Proving Cash Balances
Summary Using T-Accounts
Decision Analysis—Cash Flow Analysis
Appendix 12A Spreadsheet Preparation of the Statement of Cash Flows
Appendix 12B Direct Method of Reporting Operating Cash Flows
13 Analysis of Financial Statements
Basics of Analysis
Purpose of Analysis
Building Blocks of Analysis
Information for Analysis
Standards for Comparisons
Tools of Analysis
Horizontal Analysis
Comparative Statements
Trend Analysis
Vertical Analysis
Common-Size Statements
Data Visualizations
Ratio Analysis
Liquidity and Efficiency
Solvency
Profitability
Market Prospects
Summary of Ratios
Decision Analysis—Analysis Reporting
Appendix 13A Sustainable Income
Appendix A Financial Statement Information A
Apple A-1
Google A-9
Samsung A-13
Appendix B Time Value of Money B-1
Appendix C Investments C-1
Index IND
Chart of Accounts CA-1
Brief Review Managerial Analyses and Reports BR-1
Financial Reports and Tables BR-2
Selected Transactions and Relations BR-3
Fundamentals and Analyses BR-4