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					Errors in 1st Printing of FACMU/12 page no. v xi 20 61 103 114 114 133 135 135 183 219 231 237 237 255 256 312 362 364 373 373 373 400 413 414 422 425 430 459 464 464 464 465 465 469 525 531 572 588 598 613 614 617 620 620 620 641 641 643 643 643 644 725 725 726 733 753 767 783 785 811 831 location on page item 1; first para. Last line last line of preface Example 5, 3rd paragraph, line 5 Preferred Stock, first line

Date of latest addition = from difference situations We can we say? Arthur Anderson asserts

26-Nov-07

to different situations What can we say? Arthur Andersen assets Only those with no medium-term assets, such as inventories, which have a several-month shelf life, and with no long-term assets, such as property, plant, and equipment, use the cash basis. … pays some selling and…. Milller Corporation will record more selling and administrative expenses later. … 8 9 10 11 … on January 1, Year 12, which provides for the rent for the month of January, Year 12. Equipment Expense line (3) Average Fixed Assets Marketable - Beginning Inventories

first line of 2nd last paragraph, add a sentence after … of accounting? Transaction 4, first line … pays selling and…. last line, before Transaction 5. add a sentence after … end of February. row of labels on columns … 8 9 9 10 Pbm 16, first sentence. … on January 1, Year 12. Pbm 17, line 3 Retained Earnings (Equipment Expense) line (1) Pbm SS #4.5, line -2 denominator of equation Average Fixed Inventory tabular top of page caption arketable last line of footnotes + Beginning Inventories Front endpaper repeats same error as on page 237; need to fix verso front endpaper pbm 17, footnote b + Preferred Stock Dividends - Preferred Stock Dividends pbm 5.21 , second header On December 31 On May 31 Pbm 24, tablular material. first line should have Not Yet Due in the right column, not 0-30 days and the second line should remove $ sign from 400,000 top of page, in first tabular Above December 31, Add words Balance Sheet Inventory Amounts. [we wouldn't need this if there weren't a page turn right here] Line -3, Pbm 50. Ethical issuing… Ethical issues… first tabular presentation 1st line 15 5 first tabular presentation 2nd line 12 6 second tabular presentation, 3rd line $3,000,000 ……….. $170,000 [double underlined] $3,000,000 (= $1,000,000 + $2,000,000) ……….. $170,000 [double underlined] Asset Impairment Losses, 4th line direct method indirect method Pbm 41.d line3 written down amortized Pbm 41.e line 3 written down amortized Example 11; 2nd para; last line 18 percent of this gross amount. 18 percent of the gross amount of vacation pay. first sentence change to read: Note that the entry to record the actual expenditures to satisfy warrant claims does not affect net income. last journal entry box on page in box under Liabilities: -21,137 +21,137 [[change minus sign to plus sign under Liabilities] last set of columns on page; Dr Column last number is 576.19. That last one should move to the Cr column, one to the right, under 52.38; align on decimal Pbm 29.b, end of second line … 6 percent. … 6 percent compounded semiannually. Pbm 29.c, end of second line … 8 percent. … 8 percent compounded semiannually. Pbm 29.d, end of 3rd line … 10 percent. … 10 percent compounded semiannually. Exercise 35, first line January 2, Year 1, 8-percent January 2, Year 1, $100,000 face value, 8-percent Exc 35.d, second line 102 percent of par …. 102 percent of face value …. line (1) or cash line (3) or cash Pbm 9.45, 4th line (= ₤10,000 pounds x $1.64 per pound). (= ₤10,000 x $1.64 per pound). Example 12, last line j.e. box for (6), 2nd asset number 158,200 158,250 numbered item 5, last line duing during #3, first bullet, first line and increased the proporand increases the proporReporting Changes, line 5 Assume that inventory at the end the last year Assume that inventory at the end of last year d. first credit Treasury Stock Treasury Shares--Common [[as in part b. first credit]] e.first credit Treasury Stock Treasury Shares--Common [[as in part b. first credit]] Problem 22, line 7 On June 30, Year 15, holders of …. On June 30, Year 16, holders of …. Pbm 33, Exh 12.9 Less Unrealized Holding Loss on …… (2,000) Plus Unrealized Holding Gain on …… 2,000 [change less to plus; loss to gain, -2,000 to 2,000 Pbm 33, Exh 12.9, last line's total $94,240 $98,240 Pbm 33, part a. … issue for $30? … issue for $15? 2nd j.e., above caption for line 8 Dr. to Accumulated Depreciation shows 450 Dr. to Accumulated Depreciation should be 460 2nd j.e., above caption for line 8 Dr. to Cash ( …Loss…) shows 40 Dr. to Cash ( …Loss…) should be 30 j.efor Cash in Line 12, Dr column 10,900 10,000 j.e. box for Line 12, under Assets 10,900 10,000 Change cash box (Opns.) +10,900 +10,000 Line 14, line 4 During Year 2, the firm paid $200 more in warranty…. During Year 2, the firm paid $300 more in warranty…. $10,500 appears six times $10,500 $105,000 need to change all six numbers We changed the numbers in Ch 9 $16,000 appears six times $16,000 $160,000 need to change all six numbers and need to change them here table at top last column multiply all numbers by 10, so that, for example, -$5,500 becomes -$55,000 and 7 becomes 70 this results from items above pbm 45., line 3 It earned $100 …. It expects to earn $100 …. remove Andersen; Big 4.; second line T-accounts in bottom right corner; see comment for final endpaper, inside back cover recto generally accepted auditing standards, 8th line on page change quantities to qualities impairment, line 5 benefit that originally benefit than originally delete sentence saying: See Descartes' rule of signs . 2nd col, lines 3-4 yield variance, 4th line the 1/em dash should be space minus sign space … mix) - (standard price …

Inside front cover, verso Inside back cover, recto Inside back cover, recto

Same correction as on page 237; see above

definition of asset

someting

something

Vertical line in Owners' Equity T-account now stops at level of Dr. and Cr. It should go all the way to the bottom, ending where the vertical ends in the T-account to its left, titled Typical Owners' Equity Account. See page 634 of 11/e for correct treatment.

Errors in 1st Printing of FACMU 12/e, Solutions manual 4-14 5-7 pbm 4.31.e E5.18.b (1) Decreases by …. (3) Decreases by ….

The column titles are out of alignment. They should read (l to r) "Rate of Return on Common Shareholders' Equity" = "Profit Margin for ROCE" x "Total Assets Turnover Ratio" x "Capital Structure Leverage" (see text page 226 for an example). NOTE: It's also okay for the very-right column to read "Capital Structure Leverage Ratio."’ … is less that beginning …. = … 1.20/1.25 x $26,900 …. = $145,387 Timing Timing so Line (1) decreases by it, then you would increase Line (3) and Line (4) … (= $10,000/10) Line (2) subtraction increases by $120,000. June 30, Year 15 $100 x 14.23683 = $1,423.68 … is less than beginning …. = ... 1.00/1.25 x $26,900 …. = $141,787 Temporary Temporary so Line (11) decreases by it, then you would decrease Line (3) and increase Line (4) … (= $100,000/10) Line (2) subtraction increases by $136,000. June 30, Year 16 $100 x 13.80933 = $1,380.93

7-29 8-4 10-22 10-22 10-24 10-25 10-25 10-25 12-11 A-3

pbm 7.47.c. line 11 pbm 8.18 Repair pbm 10.30 middle column pbm 10.30 (3), first word pbm 10.31.e, first line under box pbm 10.31 e.. 2nd line pbm 10.31 e.. 3rd line pbm 10.32. c, 2nd line pbm 12.22 first line date pbm 20.a


				
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