Custom ACC 3313: Intermediate Accounting I (Texas State University) ADD-ON

by Hanlon, Hodder, Nelson, Roulstone, Dragoo

ISBN: 978-1-61853-496-5 | Copyright 2022

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Intermediate Accounting, 2e (pg. 2.8-1)
Chapter 8: Cash and Receivables (pg. 2.8-1)
LO 8-1 Classify cash, cash equivalents, restricted cash, and compensating balances (pg. 2.8-3)
Demo 8-1Reporting Cash, Cash Equivalents, and Other Current Assets (pg. 2.8-5)
Review 8-1 Classification of Cash Related Items (pg. 2.8-6)
LO 8-2 Account for sales and collections on account including the impact of cash discounts (pg. 2.8-6)
Demo 8-2A Accounting for Sales and Collections under the Gross Method (pg. 2.8-8)
Demo 8-2B Accounting for Sales and Collections under the Net Method (pg. 2.8-9)
Review 8-2 Gross Method versus Net Method in Recording Cash Discounts (pg. 2.8-10)
LO 8-3 Account for the impact of sales returns and allowances (pg. 2.8-11)
Demo 8-3 Accounting for Sales Returns (pg. 2.8-11)
Reveiw 8-3 Accounting for Sales Returns (pg. 2.8-12)
LO 8-4 Measure and record accounts receivable at net realizable value using the allowance method (pg. 2.8-13)
Allowance Method (pg. 2.8-13)
Demo 8-4A Entries Under the Allowance Method (pg. 2.8-14)
Estimating Accounts Receivable at Net Realizable Value (pg. 2.8-15)
Demo 8-4B Adjusting Accounts Receivable to Net Realizable Value (pg. 2.8-17)
Review 8-4 Measuring and Recording Receivables at Net Realizable Value (pg. 2.8-19)
LO 8-5 Measure and record notes receivable (pg. 2.8-20)
Present Value of Payments Equals the Fair Value of Note (pg. 2.8-21)
Demo 8-5A Noncurrent Note Receivable [Stated Rate = 10%; Market Rate = 10%] (pg. 2.8-21)
Demo 8-5B Noncurrent Note Receivable [Stated Rate = 3%; Market Rate = 10%] (pg. 2.8-22)
Demo 8-5C Noncurrent Note Receivable [Stated Rate = 0%; Market Rate = 10%] (pg. 2.8-24)
Demo 8-5D Noncurrent Note Receivable [Stated Rate = 8%; Market Rate = 6%] (pg. 2.8-25)
Review 8-5 Measuring of Note Receivable and Interest (pg. 2.8-26)
LO 8-6 Account for the sale of receivables and use as collateral for borrowing (pg. 2.8-27)
Using Accounts Receivable as Collateral for Borrowing (pg. 2.8-27)
Demo 8-6A Using Receivables as Collateral for Borrowing (pg. 2.8-28)
Sale of Accounts Receivable without Recourse (pg. 2.8-29)
Demo 8-6B Sale of Receivables Without Recourse (pg. 2.8-29)
Sale of Accounts Receivable with Recourse (pg. 2.8-30)
Demo 8-6C Sale of Receivables With Recourse (pg. 2.8-30)
Discounting a Note Receivable (pg. 2.8-31)
Demo 8-6D Discounting a Note Receivable (pg. 2.8-31)
Review 8-6 Secured Borrowings and Sale of Receivables (pg. 2.8-32)
LO 8-7 Describe receivable disclosures and ratio analyses (pg. 2.8-32)
Receivable Disclosures (pg. 2.8-32)
Accounts Receivable Ratios (pg. 2.8-34)
Demo 8-7 Accounts Receivable Ratios (pg. 2.8-34)
Review 8-7 Accounts Receivable Ratio Analyses (pg. 2.8-35)
Management Judgment (pg. 2.8-35)
Accounting for Receivables (pg. 2.8-35)
Guidance for Management Judgment (pg. 2.8-35)
APPENDIX 8A Apply cash controls (pg. 2.8-36)
Cash Reconciliations (pg. 2.8-36)
Demo 8-8A Cash Reconciliations (pg. 2.8-37)
Bank Reconciliation (pg. 2.8-38)
Demo 8-8B Bank Reconciliation (pg. 2.8-38)
Review 8-8 Cash Controls (pg. 2.8-41)
APPENDIX 8B Account for impairment of noncurrent receivables (pg. 2.8-42)
Demo 8-9 Recording Impairment of a Note Receivable (pg. 2.8-42)
Review 8-9 Impairment of a Note Receivable (pg. 2.8-44)
Questions (pg. 2.8-44)
Brief Exercises (pg. 2.8-45)
Exercises (pg. 2.8-46)
Problems (pg. 2.8-53)
Accounting Decisions and Judgments (pg. 2.8-59)
Appendix-Questions (pg. 2.8-64)
Appendix-Brief Exercises (pg. 2.8-64)
Appendix-Exercises (pg. 2.8-65)
Appendix-Problems (pg. 2.8-67)
Answers to Review Exercises (pg. 2.8-70)
Chapter 9: Inventory: Measurement (pg. 2.9-1)
LO 9-1 Determine the physical items included in ending inventory (pg. 2.9-3)
Recognition of Inventory (pg. 2.9-3)
Initial Measurement of Inventory (pg. 2.9-4)
Demo 9-1 Recognition and Measurement of Inventory (pg. 2.9-5)
Review 9-1 Measurement of Ending Inventory (pg. 2.9-6)
LO 9-2 Demonstrate accounting in a periodic inventory system (pg. 2.9-6)
Cost Flow in a Periodic System (pg. 2.9-7)
Accounting for Purchase Discounts in a Periodic System (pg. 2.9-7)
Demo 9-2A Periodic Inventory System-Gross Method (pg. 2.9-7)
Demo 9-2B Periodic Inventory System—Net Method (pg. 2.9-9)
Review 9-2 Periodic Inventory System (pg. 2.9-9)
LO 9-3 Demonstrate specific identification, average cost, FIFO, and LIFO in a periodic inventory sy (pg. 2.9-9)
Inventory Cost-Flow Assumptions in a Periodic Inventory System (pg. 2.9-10)
Demo 9-3A Specific Identification—Periodic Inventory System (pg. 2.9-11)
Demo 9-3B Average Cost-Periodic Inventory System (pg. 2.9-12)
Demo 9-3C FIFO—Periodic Inventory System (pg. 2.9-13)
Demo 9-3D LIFO-Periodic Inventory System (pg. 2.9-13)
Comparing Inventory Methods (pg. 2.9-14)
Review 9-3 Inventory Methods under the Periodic Inventory System (pg. 2.9-15)
LO 9-4 Demonstrate accounting in a perpetual inventory system (pg. 2.9-15)
Cost Flow in a Perpetual System (pg. 2.9-15)
Accounting for Purchase Discounts in a Perpetual System (pg. 2.9-16)
Demo 9-4A Perpetual Inventory System—Gross Method (pg. 2.9-16)
Demo 9-4B Perpetual Inventory System—Net Method (pg. 2.9-17)
Review 9-4 Perpetual Inventory System (pg. 2.9-18)
LO 9-5 Demonstrate moving average, FIFO, and LIFO in a Perpetual inventory system (pg. 2.9-18)
Demo 9-5A Moving Average-Perpetual Inventory System (pg. 2.9-18)
Demo 9-5B FIFO—Perpetual Inventory System (pg. 2.9-19)
Demo 9-5C LIFO—Perpetual Inventory System (pg. 2.9-20)
Review 9-5 Inventory Methods under a Perpetual Inventory System (pg. 2.9-21)
LO 9-6 Explain and compute a LIFO reserve (pg. 2.9-21)
Demo 9-6 LIFO Reserve (pg. 2.9-22)
Review 9-6 LIFO Reserve (pg. 2.9-22)
LO 9-7 Describe and compute the effect of LIFO liquidation (pg. 2.9-23)
Demo 9-7 Computation of LIFO Liquidation (pg. 2.9-24)
Review 9-7 LIFO Liquidation (pg. 2.9-24)
LO 9-8 Apply the dollar-value LIFO method (pg. 2.9-25)
Step One: Restate Ending Inventory at Base Year Dollars (pg. 2.9-25)
Step Two: Arrange Restated Inventory Balance into Layers (pg. 2.9-25)
Step Three: Match Layers to the Appropriate Price Indices (pg. 2.9-26)
Step Four: Restate Layers of Inventory into Current Year Dollars (pg. 2.9-26)
Demo 9-8 Dollar-Value LIFO Method (pg. 2.9-26)
Review 9-8 Dollar-Value LIFO Method (pg. 2.9-27)
LO 9-9 Perform inventory ratio analysis and interpretation (pg. 2.9-28)
Inventory Ratios (pg. 2.9-28)
Demo 9-9 Inventory Ratio Analysis and Interpretation (pg. 2.9-28)
Review 9-9 Inventory Ratio Analysis (pg. 2.9-29)
Management Judgment (pg. 2.9-29)
Management Choice of Inventory Method (pg. 2.9-30)
Management Decisions in Measuring Inventory (pg. 2.9-30)
Questions (pg. 2.9-31)
Brief Exercises (pg. 2.9-32)
Exercises (pg. 2.9-34)
Problems (pg. 2.9-42)
Accounting Decisions and Judgments (pg. 2.9-48)
Answers to Review Exercises (pg. 2.9-53)
Chapter 10: Inventory: Additional Issues (pg. 2.10-1)
LO 10-1 Apply lower-of-cost-or-net realizable value rule to inventory (pg. 2.10-3)
Lower-of-Cost-or-Net Realizable Value Rule (pg. 2.10-3)
Demo 10-1 Application of Lower-of-Cost-or-Net Realizable Value Rule (pg. 2.10-5)
Review 10-1 Application of Lower-of-Cost-or-Net Realizable Value Rule (pg. 2.10-7)
LO 10-2 Apply lower-of-cost-or-market rule to inventory (pg. 2.10-7)
Inconsistency in Applying the Inventory Adjustment Rules (pg. 2.10-8)
Demo 10-2 Application of Lower-of-Cost-or-Market Rule (pg. 2.10-8)
Review 10-2 Application of Lower-of-Cost-or-Market Rule (pg. 2.10-10)
LO 10-3 Demonstrate the relative sales value method to allocate costs to inventory (pg. 2.10-10)
Demo 10-3 Relative Sales Value Method (pg. 2.10-10)
Review 10-3 Relative Sales Value Method (pg. 2.10-11)
LO 10-4 Demonstrate the gross profit method to estimate inventory (pg. 2.10-11)
Applying the Gross Profit Method (pg. 2.10-12)
Gross Profit Method-Uses and Limitations (pg. 2.10-12)
Demo 10-4 Estimate Inventory Using Gross Profit Method (pg. 2.10-13)
Review 10-4 Gross Profit Method (pg. 2.10-13)
LO 10-5 Demonstrate accounting for purchase commitments (pg. 2.10-13)
Demo 10-5 Purchase Commitment (pg. 2.10-14)
Review 10-5 Purchase Commitment (pg. 2.10-15)
LO 10-6 Describe accounting treatment for changes in inventory methods (pg. 2.10-15)
Demo 10-6A Change in Inventory Method-Retrospective Approach (pg. 2.10-17)
Demo 10-6B Change in Inventory Method—Prospective Approach (pg. 2.10-19)
Review 10-6 Change in Inventory Method (pg. 2.10-19)
LO 10-7 Describe accounting treatment of inventory errors (pg. 2.10-20)
Demo 10-7 Inventory Errors (pg. 2.10-21)
Review 10-7 Inventory Errors (pg. 2.10-22)
LO 10-8 Estimate ending inventory using the average cost and conventional retail methods (pg. 2.10-23)
Average Cost and Conventional Retail Inventory Methods (pg. 2.10-23)
Demo 10-8A Retail Inventory Method-Average Cost Method (pg. 2.10-24)
Demo 10-8B Retail Inventory Method-Conventional Method (pg. 2.10-25)
Complicating Factors for Retail Inventory Method (pg. 2.10-26)
Demo 10-8C Retail Inventory Method-Conventional Method with Complicating Items (pg. 2.10-26)
Review 10-8 Retail Inventory Method-Conventional Metho (pg. 2.10-27)
Management Judgment (pg. 2.10-28)
Lower-of-Cost-or-Net Realizable Rule and the Lower-of-Cost-or-Market Rule (pg. 2.10-28)
Retail Inventory Method (pg. 2.10-28)
Purchase Commitments (pg. 2.10-28)
Gross Profit Method (pg. 2.10-28)
APPENDIX 10A Estimate ending inventory using LIFO retail and dollar-value LIFO retail methods (pg. 2.10-29)
LIFO Retail Method (pg. 2.10-29)
Demo 10-9A LIFO Retail Method (pg. 2.10-29)
Demo 10-9B Dollar-Value LIFO Method (pg. 2.10-30)
Review 10-9 LO10-9 LIFO Retail and Dollar Value LIFO Retail Methods (pg. 2.10-33)
Questions (pg. 2.10-33)
Brief Exercises (pg. 2.10-34)
Exercises (pg. 2.10-37)
Problems (pg. 2.10-45)
Accounting Decisions and Judgments (pg. 2.10-51)
Appendix-Questions (pg. 2.10-53)
Appendix-Brief Exercises (pg. 2.10-53)
Appendix-Exercises (pg. 2.10-54)
Appendix-Problems (pg. 2.10-55)
Answers to Review Exercises (pg. 2.10-56)
Chapter 11: Property, Plant, and Equipment: Acquisition and Disposition (pg. 2.11-1)
LO 11-1 Determine costs to capitalize for land, land improvements, equipment, buildings, and constr (pg. 2.11-3)
Categories of Fixed Assets (pg. 2.11-3)
Demo 11-1A Acquisition Costs Classified as Property, Plant, & Equipment (pg. 2.11-5)
Self-Constructed Assets (pg. 2.11-6)
Demo 11-1B Self-Constructed Assets (pg. 2.11-6)
Review 11-1 Property, Plant, and Equipment Cost Classification (pg. 2.11-7)
LO 11-2 Determine costs to capitalize for lump-sum purchases of property, plant, and equipment (pg. 2.11-7)
Demo 11-2 Lump-Sum Purchase (pg. 2.11-8)
Review 11-2 Lump-Sum Purchase (pg. 2.11-9)
LO 11-3 Account for acquisition of property, plant, and equipment through debt and equity issuances (pg. 2.11-9)
Acquisition of Property, Plant, and Equipment Using Debt (pg. 2.11-9)
Demo 11-3A Acquisition of Equipment Using a Note Payable (pg. 2.11-9)
Acquisition of Property, Plant, and Equipment Using Equity (pg. 2.11-11)
Demo 11-3B Acquisition of Equipment Using Common Stock (pg. 2.11-11)
Review 11-3 Acquisition of Property, Plant, and Equipment Using Debt and Equity (pg. 2.11-11)
LO 11-4 Account for acquisition of property, plant, and equipment through donation (pg. 2.11-12)
Demo 11-4 Acquisition of a Building through Donation (pg. 2.11-12)
Review 11-4 Equipment Acquired through Donation (pg. 2.11-12)
LO 11-5 Calculate capitalized interest (pg. 2.11-13)
Calculation of Capitalized Interest (pg. 2.11-13)
Demo 11-5 Interest Capitalization (pg. 2.11-15)
Review 11-5 Interest Capitalization (pg. 2.11-17)
LO 11-6 Account for asset retirement obligations (pg. 2.11-18)
Demo 11-6 Asset Retirement Obligation (pg. 2.11-19)
Review 11-6 Asset Retirement Obligation (pg. 2.11-20)
LO 11-7 Account for property, plant, and equipment related costs after acquisition (pg. 2.11-20)
Management Judgment (pg. 2.11-21)
Capitalizing Fixed Assets (pg. 2.11-21)
Demo 11-7 Subsequent Acquisition Costs (pg. 2.11-22)
Review 11-7 Subsequent Acquisition Costs (pg. 2.11-23)
LO 11-8 Account for disposal of property, plant, and equipment (pg. 2.11-23)
Demo 11-8 Disposal of Property, Plant, and Equipment (pg. 2.11-23)
Review 11-8 Disposal of Property, Plant, and Equipment (pg. 2.11-24)
LO 11-9 Account for exchange of property, plant, and equipment (pg. 2.11-25)
Demo 11-9A Exchange of Equipment-Full Gain and Loss Recognized (pg. 2.11-25)
Demo 11-9B Exchange of Equipment-Partial or No Gain Recognized (pg. 2.11-27)
Review 11-9 Exchange of Assets (pg. 2.11-28)
Questions (pg. 2.11-28)
Brief Exercises (pg. 2.11-29)
Exercises (pg. 2.11-31)
Problems (pg. 2.11-38)
Accounting Decisions and Judgments (pg. 2.11-44)
Answers to Review Exercises (pg. 2.11-47)
Chapter 12: Depreciation, Impairments, and Depletion (pg. 2.12-1)
LO 12-1 Calculate depreciation using straight-line, sum-of-the-years’-digits, declining-balance, an (pg. 2.12-3)
Calculation of Depreciation Expense (pg. 2.12-4)
Demo 12-1A Straight-Line Depreciation Method (pg. 2.12-4)
Demo 12-1B Sum-of-the-Years’-Digits Depreciation Method (pg. 2.12-6)
Demo 12-1C Double-Declining-Balance Depreciation Method (pg. 2.12-7)
Demo 12-1D Units-of-Production Depreciation Method (pg. 2.12-9)
Comparison of Depreciation Methods (pg. 2.12-9)
Review 12-1 Depreciation Methods (pg. 2.12-11)
LO 12-2 Account for depreciation in partial periods (pg. 2.12-11)
Demo 12-2A Depreciation Prorated for Partial Period (pg. 2.12-12)
Demo 12-2B Policy Convention Applied to Partial Period (pg. 2.12-13)
Review 12-2 Partial Period Depreciation (pg. 2.12-14)
LO 12-3 Calculate depreciation using group and composite depreciation methods (pg. 2.12-15)
Demo 12-3 Composite Depreciation Method (pg. 2.12-16)
Review 12-3 Composite Depreciation Method (pg. 2.12-17)
LO 12-4 Account for changes in estimate as they relate to depreciation (pg. 2.12-17)
Demo 12-4 Change in Accounting Estimate (pg. 2.12-18)
Review 12-4 Change in Accounting Estimate (pg. 2.12-18)
LO 12-5 Account for changes in depreciation methods (pg. 2.12-19)
Demo 12-5 Change in Depreciation Method (pg. 2.12-19)
Review 12-5 Change in Depreciation Method (pg. 2.12-20)
LO 12-6 Account for errors in reporting property, plant, and equipment (pg. 2.12-20)
Demo 12-6 Correction of Error (pg. 2.12-21)
Review 12-6 Correction of Depreciation Error (pg. 2.12-21)
LO 12-7 Account for impairments of property, plant, and equipment (pg. 2.12-21)
Identification of Asset Impairment (pg. 2.12-21)
Demo 12-7 Impairment of Fixed Assets (pg. 2.12-23)
Review 12-7 Impairment of Fixed Assets (pg. 2.12-24)
LO 12-8 Account for assets held for sale (pg. 2.12-24)
Management Judgment (pg. 2.12-25)
Grouping Assets for Impairment Testing (pg. 2.12-25)
Applying Impairment Testing (pg. 2.12-26)
Management Judgment Highlighted in Financial Reporting (pg. 2.12-26)
Demo 12-8 Asset Held for Sale (pg. 2.12-26)
Review 12-8 Assets Held for Sale (pg. 2.12-27)
LO 12-9 Describe property, plant, and equipment disclosures and ratio analyses (pg. 2.12-28)
Disclosures (pg. 2.12-28)
Ratio Analysis (pg. 2.12-28)
Relation between Depreciation Method and Return on Assets (pg. 2.12-28)
Demo 12-9 Ratio Analysis (pg. 2.12-29)
Review 12-9 Ratio Analysis (pg. 2.12-30)
LO 12-10 Record acquisition and depletion of natural resources (pg. 2.12-30)
Demo 12-10A Natural Resource Acquisition, Depletion, Sale (pg. 2.12-31)
Demo 12-10B Depletion of Exploration Costs in Oil and Gas (pg. 2.12-33)
Reveiw 12-10 Accounting for Natural Resources (pg. 2.12-34)
APPENDIX 12A Calculate MACRS (tax) depreciation (pg. 2.12-34)
Demo 12-11 MACRS Depreciation Calculation (pg. 2.12-35)
Review 12-11 MACRS Depreciation (pg. 2.12-35)
Questions (pg. 2.12-35)
Brief Exercises (pg. 2.12-36)
Exercises (pg. 2.12-38)
Problems (pg. 2.12-47)
Accounting Decisions and Judgments (pg. 2.12-54)
Appendix-Questions (pg. 2.12-57)
Appendix-Brief Exercises (pg. 2.12-57)
Appendix-Exercises (pg. 2.12-58)
Appendix-Problem (pg. 2.12-58)
Answers to Review Exercises (pg. 2.12-58)
Chapter 13: Intangible Assets and Goodwill (pg. 2.13-1)
LO13-1 Identify and classify intangible items (pg. 2.13-3)
Identification of Assets: Intangible Assets and Goodwill (pg. 2.13-3)
Recognition of Expenses: Internally Generated Intangible Assets and Goodwill (pg. 2.13-5)
Demo 13-1 Classification of Intangible Items (pg. 2.13-6)
Review 13-1 Classification of Intangible Items (pg. 2.13-7)
LO13-2 Determine the initial and subsequent measurements of intangible assets (pg. 2.13-8)
Initial Measurement of Intangible Assets (pg. 2.13-8)
Subsequent Measurement of Finite Life Intangible Assets (pg. 2.13-8)
Demo 13-2 Initial and Subsequent Measurement of Intangible Asset (pg. 2.13-9)
Review 13-2 Subsequent Measurement of Intangible Assets (pg. 2.13-10)
LO13-3 Record goodwill resulting from an acquisition (pg. 2.13-11)
Demo 13-3 Recording of Goodwill (pg. 2.13-12)
Review 13-3 Recording of Goodwill (pg. 2.13-14)
LO13-4 Account for impairment and derecognition of intangibles (pg. 2.13-15)
Impairment of Finite Life Intangible Assets (pg. 2.13-15)
Demo 13-4A Impairment of Finite Life Intangible Asset—Patent (pg. 2.13-16)
Impairment of Indefinite Life Intangible Assets (pg. 2.13-16)
Demo 13-4B Impairment of Finite Life Intangible Asset—Patent (pg. 2.13-17)
Impairment of Goodwill (pg. 2.13-18)
Demo 13-4C Impairment of Goodwill (pg. 2.13-19)
Derecognition of Intangible Assets (pg. 2.13-19)
Demo 13-4D Derecognition of Intangible Asset—Patent (pg. 2.13-20)
Review 13-4 Impairment and Derecognition of Intangibles (pg. 2.13-20)
LO13-5 Account for changes in estimates with intangible assets (pg. 2.13-21)
Demo 13-5 Change in Estimate—Intangible Asset (pg. 2.13-21)
Review 13-5 Change in Estimate-Patent (pg. 2.13-21)
LO13-6 Account for research and development costs (pg. 2.13-22)
Identifying Research and Development Expense (pg. 2.13-23)
Demo 13-6A Identification of Research and Development Expense (pg. 2.13-23)
Accounting for Software Research and Development Costs (pg. 2.13-24)
Demo 13-6B Accounting for Software Research and Development Costs (pg. 2.13-25)
Review 13-6 Research and Development Costs (pg. 2.13-26)
Management Judgment (pg. 2.13-27)
Identification of Intangibles in a Business Combination (pg. 2.13-27)
Useful Life (pg. 2.13-27)
Impairment Testing (pg. 2.13-27)
Identification of Research and Development Costs (pg. 2.13-28)
Software Development (pg. 2.13-28)
Questions (pg. 2.13-28)
Brief Exercises (pg. 2.13-28)
Exercises (pg. 2.13-31)
Problems (pg. 2.13-36)
Accounting Decisions and Judgments (pg. 2.13-40)
Answers to Review Exercises (pg. 2.13-43)
Chapter 15: Current Liabilities and Contingencies (pg. 2.15-1)
LO15-1 Record accounts payable and sales taxes payable (pg. 2.15-3)
Accounts Payable (pg. 2.15-3)
Demo 15-1A Accounting for Accounts Payable (pg. 2.15-4)
Sales Taxes Payable (pg. 2.15-5)
Demo 15-1B Accounting for Sales Taxes Payable (pg. 2.15-5)
Review 15-1 Recording Accounts Payable and Sales Taxes Payable (pg. 2.15-6)
LO15-2 Record customer deposits and advances (pg. 2.15-6)
Customer Returnable Deposits (pg. 2.15-7)
Demo 15-2A Accounting for Returnable Deposits (pg. 2.15-7)
Customer Advance Payments (pg. 2.15-8)
Demo 15-2B Accounting for Deferred Revenue (pg. 2.15-8)
Demo 15-2C Accounting for Gift Cards (pg. 2.15-9)
Review 15-2 Recording Customer Deposits and Advances (pg. 2.15-11)
LO15-3 Measure and record employee payroll withholdings, employer payroll taxes, employee compensat (pg. 2.15-11)
Withholdings from Wages of Employees (pg. 2.15-11)
Demo 15-3A Recording Employee Payroll Withholdings (pg. 2.15-12)
Accrual for Payroll Taxes (pg. 2.15-12)
Demo 15-3B Recording Employer Payroll Taxes (pg. 2.15-12)
Accrual for Compensated Absences (pg. 2.15-13)
Demo 15-3C Recording Compensated Absences (pg. 2.15-13)
Bonus Accrual (pg. 2.15-14)
Demo 15-3D Recording Bonus Accruals (pg. 2.15-14)
Review 15-3 Recording Payroll Withholding and Taxes, Compensated Absences, and Bonuses (pg. 2.15-15)
LO15-4 Account for short-term debt and classify debt on the balance sheet (pg. 2.15-15)
Short-Term Notes Payable-Interest-Bearing (pg. 2.15-17)
Demo 15-4A Short-Term Note Payable-Interest-Bearing (pg. 2.15-17)
Short-Term Notes Payable-Issued at a Discount (pg. 2.15-18)
Demo 15-4B Short-Term Note Payable-Issued at a Discount (pg. 2.15-18)
Balance Sheet Classification of Debt (pg. 2.15-19)
Demo 15-4C Balance Sheet Classification of Debt (pg. 2.15-20)
Review 15-4 Accounting for and Reporting Debt (pg. 2.15-21)
LO15-5 Describe accounting for subsequent events and contingencies including litigation, warranties, (pg. 2.15-23)
Loss Contingencies (pg. 2.15-23)
Demo 15-5A Accounting for Litigation Loss Contingencies (pg. 2.15-25)
Financial Reporting of Subsequent Events (pg. 2.15-26)
Demo 15-5B Accounting for Subsequent Events (pg. 2.15-28)
A Deeper Look at Certain Loss Contingencies (pg. 2.15-29)
Demo 15-5C Accounting for Warranty Loss Contingencies (pg. 2.15-31)
Demo 15-5D Accounting for a Gain Contingency (pg. 2.15-33)
Review 15-5 Reporting of Contingencies and Subsequent Events (pg. 2.15-33)
LO15-6 Explain liability and contingency disclosures and analyses using liquidity ratios (pg. 2.15-34)
Disclosure of Current Liabilities and Contingencies (pg. 2.15-35)
Liquidity Ratios (pg. 2.15-37)
Demo 15-6 Liquidity Ratios (pg. 2.15-38)
Review 15-6 Calculating Liquidity Ratios (pg. 2.15-39)
Questions (pg. 2.15-39)
Brief Exercises (pg. 2.15-40)
Exercises (pg. 2.15-43)
Problems (pg. 2.15-50)
Accounting Decisions and Judgments (pg. 2.15-55)
Answers to Review Exercises (pg. 2.15-58)
Chapter 16: Long-Term Liabilities (pg. 2.16-1)
LO 16-1 Identify types and features of bonds (pg. 2.16-3)
Bond Types (pg. 2.16-4)
Demo 16-1A Bond Types (pg. 2.16-4)
Bond Features (pg. 2.16-4)
Demo 16-1B Bond Features (pg. 2.16-5)
Review 16-1 Bond Types and Features (pg. 2.16-6)
LO 16-2 Measure and record bonds at issuance (pg. 2.16-6)
Bond Selling Price at Issuance (pg. 2.16-6)
Demo 16-2 Determining Selling Price of Bonds at Issuance (pg. 2.16-7)
Review 16-2 Pricing Issuance of Bonds (pg. 2.16-10)
LO 16-3 Account for bonds issued at face value (pg. 2.16-10)
Demo 16-3 Account for Bonds Issued at Face Value (pg. 2.16-10)
Review 16-3 Account for Bonds Issued at Face value (pg. 2.16-11)
LO 16-4 Account for bonds issued at a discount (pg. 2.16-11)
Demo 16-4A Account for Bonds Issued at a Discount [Effective-Interest Method] (pg. 2.16-12)
Demo 16-4B Account for Bonds Issued at a Discount [Straight-line Amortization] (pg. 2.16-14)
Demo 16-4C Debt Issuance Costs (pg. 2.16-16)
Review 16-4 Account for Bonds Issued at a Discount (pg. 2.16-17)
LO 16-5 Account for bonds issued at a premium (pg. 2.16-17)
Demo 16-5A Account for Bonds Issued at a Premium [Effective-Interest Method] (pg. 2.16-18)
Demo 16-5B Account for Bonds Issued at a Premium [Straight-line Amortization] (pg. 2.16-20)
Review 16-5 Account for Bonds Issued at a Premium (pg. 2.16-21)
LO 16-6 Measure and record notes at issuance and after issuance (pg. 2.16-21)
Notes Payable Issued for Cash (pg. 2.16-22)
Demo 16-6A Note Payable Issued for Cash (pg. 2.16-22)
Notes Payable Issued for Non-Cash Consideration [Property, Goods, or Services] (pg. 2.16-25)
Demo 16-6B Note Payable Issued for Non-Cash Consideration (pg. 2.16-25)
Review 16-6 Accounting for Notes Payable (pg. 2.16-29)
LO 16-7 Account for extinguishment of debt (pg. 2.16-29)
Early Debt Extinguishment (pg. 2.16-29)
Accounting for Early Debt Extinguishment (pg. 2.16-30)
Demo 16-7 Account for extinguishment of debt (pg. 2.16-30)
Review 16-7 Accounting for Extinguishment of Debt (pg. 2.16-31)
LO 16-8 Account for conversion of debt into equity (pg. 2.16-32)
Accounting for Convertible Debt (pg. 2.16-32)
Demo 16-8 Accounting for Convertible Debt (pg. 2.16-33)
Review 16-8 Accounting for Conversion of Debt (pg. 2.16-34)
LO 16-9 Account for bonds with warrants (pg. 2.16-34)
Demo 16-9 Accounting for Bonds with Warrants (pg. 2.16-35)
Review 16-9 Accounting for Debt with Stock Warrants (pg. 2.16-37)
LO 16-10 Apply the fair value option for liabilities (pg. 2.16-37)
Demo 16-10 Fair Value Option Accounting for Liabilities (pg. 2.16-39)
Review 16-10 Accounting for Debt Using the Fair Value Option (pg. 2.16-39)
LO 16-11 Describe financing disclosures and analyses using leverage ratios (pg. 2.16-40)
Debt Disclosures with Financial Statements (pg. 2.16-40)
Demo 16-11A Disclosure of Five-Year Debt Maturities (pg. 2.16-41)
Financial Leverage Ratios (pg. 2.16-42)
Demo 16-11B Calculating Leverage Ratios (pg. 2.16-42)
Review 16-11 Calculating Leverage Ratio (pg. 2.16-43)
Management Judgment (pg. 2.16-43)
APPENDIX 16A Account for debt settlement and debt restructuring (pg. 2.16-43)
Troubled Debt Restructure-Debtor (pg. 2.16-44)
Demo 16-12A Debt Restructuring and Debt Settlement—DEBTOR Perspective (pg. 2.16-45)
Troubled Debt Restructure-Creditor (pg. 2.16-47)
Demo 16-12B Debt Restructuring and Debt Settlement—CREDITOR Perspective (pg. 2.16-48)
Review 16-12 Accounting for Debt Settlement and Debt Restructuring (pg. 2.16-49)
Questions (pg. 2.16-49)
Brief Exercises (pg. 2.16-50)
Exercises (pg. 2.16-53)
Problems (pg. 2.16-60)
Accounting Decisions and Judgments (pg. 2.16-64)
Appendix-Questions (pg. 2.16-71)
Appendix-Brief Exercises (pg. 2.16-71)
Appendix-Exercises (pg. 2.16-71)
Appendix-Problems (pg. 2.16-72)
Answers to Review Exercises (pg. 2.16-72)
Chapter 20: Stockholders’ Equity (pg. 2.20-1)
LO 20-1 Describe and report stockholders’ equity key components (pg. 2.20-3)
Key Components of Stockholders’ Equity (pg. 2.20-3)
Demo 20-1 Stockholders’ Equity Key Components (pg. 2.20-6)
Review 20-1 Components of Stockholders’ Equity (pg. 2.20-6)
LO 20-2 Account for common stock issuance including par and no-par, cash and noncash, and issue cos (pg. 2.20-8)
Par Value Common Stock (pg. 2.20-8)
Demo 20-2A Par Value Stock Issuance (pg. 2.20-9)
No-Par and Stated Value Common Stock (pg. 2.20-9)
Demo 20-2B No-Par Common Stock Issuance (pg. 2.20-9)
Common Stock Issued for Noncash Consideration (pg. 2.20-10)
Demo 20-2C Common Stock Issuance for Noncash Consideration (pg. 2.20-10)
Multiple Securities Issuance (pg. 2.20-10)
Demo 20-2D Multiple Securities Issuance (pg. 2.20-10)
Stock Issue Costs (pg. 2.20-11)
Demo 20-2E Common Stock Issue Costs (pg. 2.20-12)
Review 20-2 Accounting for Common Stock Issuance (pg. 2.20-12)
LO 20-3 Account for reacquisition of common stock (pg. 2.20-12)
Treasury Stock (pg. 2.20-13)
Demo 20-3A Reacquisition of Common Stock—Treasury Stock (pg. 2.20-14)
Direct Retirement of Stock (pg. 2.20-15)
Demo 20-3B Reacquisition of Common Stock—Direct Retirement (pg. 2.20-15)
Review 20-3 Reacquisition of Common Stock (pg. 2.20-16)
LO 20-4 Describe and account for preferred stock (pg. 2.20-16)
Initial Recognition of Preferred Stock (pg. 2.20-16)
Subsequent Recognition of Preferred Stock (pg. 2.20-17)
Demo 20-4 Accounting for Preferred Stock (pg. 2.20-18)
Review 20-4 Accounting for Preferred Stock (pg. 2.20-19)
LO 20-5 Record dividend distributions, including cash, property, and liquidating (pg. 2.20-19)
Cash Dividends (pg. 2.20-19)
Demo 20-5A Cash Dividend Distributions (pg. 2.20-20)
Property Dividends (pg. 2.20-22)
Demo 20-5B Property Dividend Distributions (pg. 2.20-22)
Liquidating Dividends (pg. 2.20-22)
Demo 20-5C Liquidating Dividend Distributions (pg. 2.20-23)
Review 20-5 Recording Dividend Distributions (pg. 2.20-23)
LO 20-6 Account for stock dividends and stock splits (pg. 2.20-24)
Stock Dividends (pg. 2.20-24)
Demo 20-6A Accounting for Small Stock Dividends (pg. 2.20-25)
Management Judgment (pg. 2.20-26)
Demo 20-6B Accounting for a Stock Split Effected in the Form of a Dividend (pg. 2.20-27)
Stock Splits (pg. 2.20-27)
Demo 20-6C Accounting for Stock Splits (pg. 2.20-28)
Review 20-6 Account for Stock Dividends and Stock Splits (pg. 2.20-29)
LO 20-7 Describe comprehensive income, its components, and how it is reported (pg. 2.20-29)
Demo 20-7 Reporting of Comprehensive Income and Accumulated OCI (pg. 2.20-30)
Review 20-7 Comprehensive Income and Accumulated OCI (pg. 2.20-31)
LO 20-8 Explain stockholders’ equity disclosures and key analyses (pg. 2.20-32)
Equity Disclosures (pg. 2.20-32)
Equity Ratios (pg. 2.20-33)
Demo 20-8 Equity Ratios (pg. 2.20-33)
Review 20-8 Computing Equity Ratios (pg. 2.20-34)
Questions (pg. 2.20-35)
Brief Exercises (pg. 2.20-35)
Exercises (pg. 2.20-38)
Problems (pg. 2.20-47)
Accounting Decisions and Judgments (pg. 2.20-52)
Answers to Review Exercises (pg. 2.20-61)
Appendix C: Data Analytics (pg. 2.C-1)
Michelle L. Hanlon

Michelle L. Hanlon

Michelle L. Hanlon is the Howard W. Johnson Professor at the MIT Sloan School of Management. She earned her doctorate at the University of Washington.

Prior to joining MIT, she was a faculty member at the University of Michigan. Professor Hanlon has taught financial accounting to undergraduates, MBA students, executive MBA students, and Masters of Finance students. Professor Hanlon also teaches Taxes and Business Strategy to MBA students. She is the winner of the 2013 Jamieson Prize for Excellence in Teaching at MIT Sloan.

Professor Hanlon’s research focuses primarily on the intersection of taxation and financial accounting. Her recent work examines the capital market effects of the accounting for income tax, the reputational effects of corporate tax avoidance, and the economic consequences of U.S. international tax policies for multinational corporations. She has published research studies in the Journal of Accounting and Economics, the Journal of Accounting Research, The Accounting Review, the Review of Accounting Studies, the Journal of Finance, the Journal of Financial Economics, the Journal of Public Economics, and others. She has won several awards for her research and has presented her work at numerous universities and conferences. Professor Hanlon has served on several editorial boards and currently serves as an editor at the Journal of Accounting and Economics. 

Professor Hanlon has testified in front of the U.S. Senate Committee on Finance and the U.S. House of Representatives Committee on Ways and Means about the interaction of financial accounting and tax policy. She served as a U.S. delegate to the American-Swiss Young Leaders Conference in 2010 and worked as an Academic Fellow at the U.S. House Ways and Means Committee in 2015.

Leslie Hodder

Leslie Hodder

Professor and the Dean’s Faculty Fellow at Indiana University’s Kelley School of Business

Professor Hodder received her B.B.A and M.B.A./M.Acc from the University of New Mexico and her Ph.D. from the University of Texas at Austin. Prior to obtaining her Ph.D., Professor Hodder was Chief Financial Officer of a publicly traded commercial bank holding company in southern California. Professor Hodder was on faculty at Stanford University before joining the Indiana University faculty in 2003. Her research has appeared in top accounting journals, including The Accounting Review, Review of Accounting Studies, Contemporary Accounting Research, and Accounting Organizations and Society. She is the past winner of the American Accounting Association’s Wildman Award, is a past and present Editor at The Accounting Review, and is currently on the Executive Board of the American Accounting Association. Professor Hodder teaches financial-accounting-related topics in the undergraduate, master, and doctoral programs. Over her teaching career, she has developed or co-developed six courses in financial accounting, including Intermediate Financial Accounting I and II, Applied Audit and Accounting Research, and Detecting Earnings Management with a focus on data analytics. Professor Hodder currently teaches intermediate accounting to undergraduates.

Karen K. Nelson

Karen K. Nelson

M.J. Neeley Professor of Accounting at TCU. Former Harmon Whittington Professor of Accounting and past Accounting Area Coordinator at the Jones Graduate School of Business at Rice University.

Karen previously served on the faculty at Rice University, the Stanford University Graduate School of Business, and as a visiting professor at the University of Michigan. She earned her Ph.D. at the University of Michigan and a bachelor’s degree (summa cum laude) from the University of Colorado. She also holds a CPA license from the state of Colorado. Professor Nelson’s research focuses on financial reporting and disclosure issues, including the role of regulators, auditors, and private securities litigation in monitoring financial reporting quality. She has held research seminars at over 50 leading business schools in the U.S. and abroad, and published in a variety of leading academic journals including The Accounting Review, Journal of Accounting and Economics, Journal of Accounting, and Review of Accounting Studies. Her research has been featured in the financial press in publications such as The Wall Street Journal, Business Week, and Forbes. She is an active member of the American Accounting Association and serves on the Editorial Board of The Accounting Review. She has taught financial accounting at all levels, and her students have honored her with numerous awards for teaching excellence. She currently teaches intermediate accounting to undergraduates and financial accounting to MBAs. She is a member of the Standing Advisory Group of the Public Company Accounting Oversight Board.

Darren Roulstone

Darren Roulstone

Distinguished Professor of Accounting at the Ohio State University’s Fisher College of Business.

Professor Roulstone earned his doctorate at the University of Michigan’s Ross School of Business and BS and MAcc degrees from Brigham Young University’s Marriott School of Management. Professor Roulstone currently directs the Ph.D. program in Accounting and Management Information Systems at Fisher. He teaches a seminar on capital markets research and the core course in financial reporting in Fisher’s Master of Accounting program. He has extensive experience teaching intermediate accounting at both the undergraduate and graduate levels. Prior to joining Fisher, he was on the faculty at the University of Chicago’s Booth School of Business where he taught financial accounting and financial statement analysis in the full-time, evening, and weekend MBA programs. Professor Roulstone’s research focuses on information intermediaries, information acquisition by investors, and textual analysis of corporate disclosure. He serves on the editorial boards of several accounting journals and is currently an associate editor at Management Science. His research has been published in a variety of leading academic journals including The Accounting Review, Journal of Accounting and Economics, Journal of Accounting Research, Management Science, and Review of Accounting Studies. He is a past president of the American Accounting Association’s Financial Accounting and Reporting Section.

Amie L. Dragoo

Amie L. Dragoo

Professor of Accounting and Educational Consultant

Former Accounting Department Chair at Edgewood College, Professor Dragoo earned her BA and MBA from Michigan State University, and her doctorate from Edgewood College. She holds a CPA license, and for nearly 15 years has been a Becker Professional Education faculty instructor. Prior to her experiences in higher education, Professor Dragoo was a senior business assurance associate with PricewaterhouseCoopers LLP (formerly Coopers & Lybrand L.L.P.). Professor Dragoo has extensive teaching experiences, including courses in Intermediate Accounting I and II, Cost Accounting, Advanced Cost Management, Strategic Financial Management, and other advanced courses in financial and managerial accounting. She has received a number of teaching awards including the School of Business Outstanding Faculty Award and the Estervig-Beaubien Excellence in Teaching and Mentoring Award. She has also worked as an independent consultant, including projects in higher education, and has worked with several corporate clients. Professor Dragoo’s research has been published in the Journal of Education for Business and the Journal of Continuing Higher Education and she has contributed to numerous articles published by organizations affiliated with the AICPA. She has been involved in many community-oriented programs including the Volunteer Income Tax Assistance (VITA) program.

Intermediate Accounting, 2e (Hanlon, Hodder, Nelson, Roulstone, Dragoo)
Errata - Volume 1
Last Updated: Feb 4 2022

Identified errors in Volume 1 of printed text, corrected.

Errata - Volume 2
Last Updated: Feb 15 2022

Identified errors in Volume 2 of printed text, corrected.

Appendix B
Last Updated: Jul 1 2020

Appendix B - IFRS

Appendix C
Last Updated: Jun 24 2020

Appendix C - Data Analytics

Data Analytics Files
Last Updated: Nov 5 2020
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