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 inShare <javascript:void(0);>0 * Embed Doc * Copy Link * Readcast * Collections * CommentsGo Back Download BriefExercises B. Ex. 6.1B. Ex. 6.2B. Ex. 6.3AnalysisB. Ex. 6.4B. Ex. 6.5AnalysisB. Ex. 6.6B. Ex. 6.7B. Ex. 6.8B. Ex. 6.9B. Ex. 6.10B. Ex. 6.11 6.11, 66.216.32, 5, 86.43, 86.5Evaluating performance6, 86.636.746.846.95, 86.10Cash discounts66.11Evaluating performance86.12356.13Periodic inventory system4, 5Comparison of inventorysystems Analysis, communicationAnalysis, communication, judgmentAnalysisCommunication, judgmentAnalysis, communication, judgmentAnalysis Relationships within periodicinventory systemsSelecting an inventory system Analysis, communication, judgmentAnalysis, communication OVERVIEW OF BRIEF EXERCISES, EXERCISES, PROBLEMS, AND CRITICALTHINKING CASES Accounts receivable subsidiaryledgerPerpetual inventory system -computation of incomePeriodic inventory system -determine cost of goods sold2, 3, 8Periodic inventory system -inventory balance during year2, 4, 8Analysis2, 4, 8Computation of gross profitSpecial journals7Analysis8Communication, judgmentEthics, fraud, and corporategovernance6AnalysisSales returns and allowances6AnalysisBenefit of taking a purchasediscount2, 4, 8AnalysisPeriodic inventory system closingprocess2, 4AnalysisPeriodic inventory system -working backwards through theCOGS section2, 8Analysis7Analysis LearningTopicObjectivesSkills Analysis, communication Effects of basic merchandisingtransactions Analysis, communication, judgment Exercises Understanding inventory cost flows Objectives Perpetual inventory systems Topic Taking a physical inventoryPeriodic inventory systems CHAPTER 6MERCHANDISING ACTIVITIES Analysis, communicationAnalysis, communication Skills You as a student Analysis Learning The McGraw-Hill Companies, Inc., 2010Overview 6.1486.15Using an annual report8

ProblemsSets A, B 6.1 A,B1, 3, 86.2 A,B1-3, 6, 8and interpretation6.3 A,B86.4 A,B3, 66.5 A,B3, 66.6 A,B2, 3, 66.7 A,B1, 3, 66.8 A,B186.156.24, 86.335, 76.48& corporate governance)6.586.6 8annual report (Internet)technology LearningObjectivesExercisesTopicObjectivesTopicSkillsLearning Analysis, communication Analysis, communication, judgment Trend analysisAnalysis, communicationIncome statement preparationNet cost and gross price methodsMerchandising transactionsAnalysts' evaluation of company (Business Week) Evaluating inventory systemsManipulating income (Ethics, fraud Real World: CVS Corporation Analysis, communicationCommunication, judgment Critical Thinkin Cases Real World: GAP Exploring anCommunication, research,Communication, judgmentSelecting an inventory systemCommunication, judgmentA cost-benefit analysis Analysis, communication, judgmentAnalysis, communication, judgment A comprehensive problem Analysis, communication, judgment Difference between income andcash flows Analysis, communication Analysis, communication Analysis, communication Analysis, communication Skills Evaluating profitability Analysis, communication, judgment Correcting Errors - Recording of Merchandising TransactionsAccrual Accounting, Cash Flow,and Fair Value The McGraw-Hill Companies, Inc., 2010Overview (p. 2) DESCRIPTIONS OF PROBLEMS ANDCRITICAL THINKING CASESProblems (Sets A and B) 35 Medium6.2 A,B15 Easy6.3 A,B20 Medium 6.4 A,B6.5 A,B30 Strong 6.6 A,B45 Strong A problem that requires students to evaluate the effects of accountingerrors on various balance sheet and income statement accounts and toprepare journal entries to correct the errors. The problem requires theerrors to be corrected both assuming that the books remain open andassuming that the books have already been closed.Below are brief descriptions of each problem and case. These descriptions are accompanied by theestimated time (in minutes) required for completion and by a difficulty rating. The time estimatesassume use of the partially filled-in working papers. 6.1 A,BClaypool Hardware/Big Oak LumberHendry's Boutique/Harry's HaberdasheryKnauss Supermarkets/Jill's Department Store Introduction to both perpetual inventory systems and financialstatement analysis. After making journal entries for merchandisingtransactions, students are asked to compare the companys grossprofit rate with the industry average and draw conclusions. Siogo Shoes and Sole Mates/Hip Pants and SleekLamprino Appliance/Mary's TV Students prepare an income statement for a small retail store usinginformation from an adjusted trial balance. Using this incomestatement, they are asked to compute the companys gross profitmargin, evaluate customer satisfaction, interpret the meaning of several accounts, and identify the accounts in the stores operatingcycle.Illustrates performance evaluation of a merchandising company usingchanges in net sales, sales per square foot of selling space, andcomparable store sales.

King Enterprises/Queen Enterprises30 Medium A comprehensive problem on merchandising transactions. Also asksstudents to evaluate whether it is worthwhile to take advantage of a1/10, n/30 cash discount.A straightforward comparison of the net cost and gross invoice pricemethods of recording purchases of merchandise. The McGraw-Hill Companies, Inc., 2010Overview Desc. Problems (continued) 6.7 A,B30 Strong 6.8 A,B40 Strong Genuine Accessories/Computer ResourcesCPI/SUI A comprehensive problem addressing every learning objective in thechapter. Closely parallels the Demonstration Problem .A problem that requires students to calculate gross profit under anaccrual-based system and under a cash-based system, and to explainthe difference between the two computations. Also, students areintroduced to fair value accounting, and are required to prepare a journal entry to revalue inventory (for loan evaluation purposes) tofair value. The McGraw-Hill Companies, Inc., 2010Overview Desc. (p.2) Critical Thinking Cases Selecting an Inventory SystemA Cost-Benefit AnalysisGroup Assignment Evaluating an Inventory System6.4Manipulating Income20 MediumEthics, Fraud & Corporate GovernanceCVS Is Riding High for Now 15 Medium Business Week Exploring the Annual Report of GAP, Inc.Internet Students must react to a supervisor's request to alter financial records inorder to improve the appearance of the company's financial performance. 6.625 Easy6.5 Students are asked to discuss why prescription drug plans may reduce thegross margin of CVS, a giant drug store chain.Visit the home page of Gap, Inc., and gather financial information toevaluate sales performance. 25 Medium35 Medium6.3No time estimate Students are to visit two local businesses to gain an understanding of theinventory systems in use. They are then asked to evaluate those systems interms of the information needs and resources of the businesses. 6.26.1 Students are asked the type of inventory system they would expect to findin various types of business operations. Leads to an open-ended discussionof why different types of businesses maintain different types of inventorysystems. A very practical assignment.Using the companys markup policy, students are asked to determine theamount of shrinkage loss included in the cost of goods sold in a businessusing a periodic inventory system. Having determined the amount of loss,they then are asked to evaluate the economic benefit of hiring a securityguard. The McGraw-Hill Companies, Inc., 2010Desc. of Prob & Cases * * * 1 / 54

Leave a Comment Mina Adel Farid <http://www.scribd.com/mena_adel_8> Comment must not be empty. Submit Characters: 400 Mina Adel Farid <http://www.scribd.com/mena_adel_8> Comment must not be empty. Submit Characters: ... Chapter 6 Solutions Manual /13,868 Reads/ More Info <#more_info> Download or Print This is a private document. </static/help?type=private> <http://www.scribd.com/ashleighholmes> Uploaded by ashleighholmes <http://www.scribd.com/ashleighholmes> <#><#> 0 inShare <javascript:void(0);> * Embed Doc * Copy Link * Readcast * Add To Collection * Comments Document Sections * CHAPTER 6 MERCHANDISING ACTIVITIES <http://www.scribd.com/doc/23551503/1/CHAPTER-6-MERCHANDISING-ACTIVITIES> * SOLUTIONS TO BRIEF EXERCISES <http://www.scribd.com/doc/23551503/2/SOLUTIONS-TO-BRIEF-EXERCISES> * SOLUTIONS TO EXERCISES <http://www.scribd.com/doc/23551503/3/SOLUTIONS-TO-EXERCISES> * PROBLEM 6.1A <http://www.scribd.com/doc/23551503/4/PROBLEM-6-1A> * CLAYPOOL HARDWARE <http://www.scribd.com/doc/23551503/5/CLAYPOOL-HARDWARE> * SOLUTIONS TO PROBLEMS SET A <http://www.scribd.com/doc/23551503/6/SOLUTIONS-TO-PROBLEMS-SET-A> * PROBLEM 6.4A <http://www.scribd.com/doc/23551503/7/PROBLEM-6-4A> * LAMPRINO APPLIANCE <http://www.scribd.com/doc/23551503/8/LAMPRINO-APPLIANCE> * SIOGO SHOES AND SOLE MATES <http://www.scribd.com/doc/23551503/9/SIOGO-SHOES-AND-SOLE-MATES> * SIOGO SHOES AND SOLE MATES (concluded) <http://www.scribd.com/doc/23551503/10/SIOGO-SHOES-AND-SOLE-MATES-concluded>

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