Intermediate Accounting 10th

2020·72.81 MB·English

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Intermediate Accounting
TENTH EDITION
J. DAVID SPICELAND
University of Memphis
MARK W. NELSON
Cornell University
WAYNE B. THOMAS
University of Oklahoma
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Dedicated to:
David’s wife Charlene, two daughters Denise and Jessica, and three sons Mike, Michael, and David
Mark’s wife Cathy, and daughters Liz and Clara
Wayne’s wife Julee, daughter Olivia, and three sons Jake, Eli, and Luke
INTERMEDIATE ACCOUNTING, TENTH EDITION
Published by McGraw-Hill Education, 2 Penn Plaza, New York, NY 10121. Copyright © 2020 by McGraw-Hill Education. All rights reserved. Printed
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About the Authors
DAVID SPICELAND has been published in the Accounting Review; the Jour-
nal of Accounting Research; Contemporary A ccounting
David Spiceland is Professor Emeritus in the School of Research; Accounting, Organizations and Society; and
Accountancy where he taught financial accounting at
several other journals. He has received the American
the undergraduate, master’s, and doctoral lev-
Accounting Association’s Notable Contribution to
els for 36 years. He received his BS degree
Accounting Literature Award, as well as the AAA’s
in finance from the University of Ten-
Wildman Medal for work judged to make a significant
nessee, his MBA from Southern Illinois
contribution to practice.
University, and his PhD in accounting
Professor Nelson served three terms as an area editor
from the University of Arkansas. of The Accounting Review and is a member of the edito-
Professor Spiceland has published arti-
rial boards of several journals. He also served for four
cles in a variety of academic and professional
years on the FASB’s Financial Accounting Standards
journals including The Accounting Review,
Advisory Council.
Accounting and Business Research, Journal of
Financial Research, Advances in Quantitative Analysis
of Finance and Accounting, and most accounting educa- WAYNE THOMAS
tion journals: Issues in Accounting E ducation, Journal
of Accounting Education, Advances in Accounting Edu- Wayne Thomas is the W.K. Newton Chair and George
cation, The Accounting Educators’ Journal, Account- Lynn Cross Research Professor of Accounting at the
ing Education, The Journal of Asynchronous Learning University of Oklahoma’s Price College of Business.
Networks, and Journal of Business Education., and is He received his BS degree from Southwestern
an author of McGraw-Hill’s Financial Accounting with Oklahoma State University and his MS and
Wayne Thomas and Don Herrmann. Professor Spice- PhD from Oklahoma State University. He
land has received university and college awards and has received teaching awards at the uni-
recognition for his teaching, research, and technological versity, college, and departmental levels,
innovations in the classroom. and has received the Outstanding Educa-
tor Award from the Oklahoma Society of
CPAs. He is an author of McGraw-Hill’s
Financial Accounting with David Spiceland
MARK NELSON
and Don Herrmann.
Mark Nelson is the Anne and Elmer Lindseth Dean His research focuses on various financial reporting
and Professor of Accounting at Cornell Uni- issues and has been published in The Accounting Review,
versity’s Samuel Curtis Johnson Graduate Journal of Accounting Research, Journal of Accounting
School of Management. He received his and Economics, Contemporary Accounting Research,
BBA degree from Iowa State University Review of Accounting Studies, Accounting Organizations
and his MA and PhD degrees from The and Society, and others. He has served as an editor for The
Ohio State University. Professor Nelson Accounting Review and has won the American Account-
has won ten teaching awards, including ing Association’s Competitive Manuscript Award and
an inaugural Cook Prize from the Ameri- Outstanding International Accounting Dissertation.
can Accounting Association. Professor Thomas enjoys various activities such as
Professor Nelson’s research focuses on decision mak- tennis, basketball, golf, and crossword puzzles, and most
ing in financial accounting and auditing. His research of all, he enjoys spending time with his wife and kids.
iii
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iv Preface
Intermediate Accounting Tenth Edition:
Welcome to the new standard in intermediate accounting! Instructors recognize the “Spiceland advantage” in content
that’s intensive and thorough, as well as in writing that’s fluid and precise—together, these combine to form a resource
Confirming Pages
that’s rigorous yet readable. By blending a comprehensive approach, clear conversational tone, current updates on key
standards, and the market-leading technological innovations of Connect®, the Spiceland team delivers an unrivaled
experience. As a result of Spiceland’s rigorous yet readable learning system, students dev elop a deeper and more
complete understanding of intermediate accounting topics.
42 SECTION 1 The Role of Accounting as an Information System
3. Does the fact that clients compensate auditors for providing audits and other consulting services have the
“The textbook is readable and easy to folplootewnti asl itno jceoepa rtdhizee aan auutdhitoor’rs sin dpepreendseencne?t basic concepts and then cover advanced issues.
4. What pressures on a typical audit engagement might affect an auditor’s independence?
Conceptually-oriented and dependable as the authors are timely in updating new accounting standards.”
Judgment A friend asks you about whether GAAP requires companies to disclose forecasts of financial variables to external
—Hong Pak, California StCaatsee 1P–8olytechnusiecrs . UShne tihvineksr tshaitt iyn,fo Prmoatimon oconulad be very useful to investors.
Qualitative Required:
characteristics 1. What are the two primary qualitative characteristics of accounting information?
● LO1–7 2. Does GAAP routinely require companies to disclose forecasts of financial variables to external users?
The Intermediate Accounting learningIn dsicyatse tyeesm or nios a nbd uexipltla ian rhoowu ynoudr a fnoswuerr r eklaetesy t oa thtet rqiubaluitatteives c:h acrauctrerreistnicst ,o fc aoccmounptinrge hensive, clear, and
Connect. information.
Judgment Assume that the FASB is considering revising an important accounting standard.
Current: Few discCCiopassltei n1–e9s see th 1Re.e qWruaihreapdt :icdon sctrahinat napgplieess to t thhea FtA SaBc’sc coonusindetraintiogn oef wxhpeteherr iteo rneqcueires c.o mTphaneie sS top pircoveidlea nnewd team is committed to
keeping instructors’ coeffuecrtsiveense susp to daitnefo.r mTahtioen? tenth edition fully integrates the latest FASB updates, including:
● LO1–7 2. In what Concepts Statement is that constraint discussed?
• ASU No. 2018-02—Income Statement—Reporting Comprehensive Income (Topic 220)—Reclassification of Certain
3. What are some of the possible costs that could result from a revision of an accounting standard?
Tax Effects from Accumulated 4O. Wthhaet rdo Ces othem FApSrBe dho einn orsdeivr teo aIsnsecss opomssieble benefits and costs of a proposed revision of an accounting
• ASU No. 2016–013, Financial Inssttarnudamrd?ents—Credit Losses (Topic 326) on “Current Expected Credit Loss” (CECL)
model for accounJutdingmge nfot r crediAt nloews cslieenst, ,t hae sW owlf eCollm apasny ,c auskrsr yeounr ta dGvicAe cAonPce rrneinqg uthei rpeoimnt ien ntimtse thfaot rth er ecocmopagnyn sihzouinld gre ciomg-pairments of
Case 1–10 nize revenue from the rental of its office buildings under generally accepted accounting principles. Renters usually
investments Revenue pay rent on a quarterly basis at the beginning of the quarter. The owners contend that the critical event that moti-
• Comprehensive rreecovginsitiioonn of Chvaatpest reevre n1u6e r,e cAogcncitioonu shnotuilnd bge tfhoe dra tIen thceo camsh eis rTecaeixveed sfr,o mim renpterros. vAiftnerg al lp, thee dmaongeyo isg iny h aansd awnd ell as covering
● LO1–9 is very seldom returned.
effects of the Tax Cuts and Jobs Act of 2017
Required:
• FASB ASC 842-10-15-42A: LeaDsoe ysou- Oagrveee orr adilsla-gSrece owipthe th ea pnosditi oSn ocf othpe oew nEerxs cofe Wpoltfi oConmspa-nLye? Sstsatoe wr h ether you agree or disagree,
and support your answer by relating it to accrual accounting under GAAP.
• FASB Accounting Standards Update, Compensation–Retirement Benefits (Topic 715): Improving the Presentation
Real World Access the financial statements for the year ended January 28, 2017, for Gap Inc. by downloading them from
of Net Periodic PCeanses 1i–o11n Cost awnwdw. gNapeinct. cPome, rainod dusiec th Pemo tos atnrsewteirr tehem folelonwitn gB qeuenstieonfis.t Cost, FASB: December, 2016. SEC Amend-
ment to Rule 15cE6le-m1,e nEtsx; -DivideRnedqu iDreda:te, September 2017
disclosures; Gap 1. What amounts did Gap Inc. report for the following items for the fiscal year ended January 28, 2017?
• FASB AccountingIn cS.tandards Update No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to
a. Total net revenues
Accounting for H ●e LdOg1–7in, LgO1 –A9ctivi tiebs. Total operating expenses
• ASU No. 2017-04Re, aIl nWtoarldn Fignainbcialelss— Gc.o Noetd inwcoimlle a(enarndin gOs)ther (Topic 350): Simplifying the Test for Goodwill Impairment
d. Total assets
• ASU No. 2015-05—Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Ac-
e. Total stockholders’ equity
counting for Fees Paid in a Clo 2.u Hdo wC moamny sphauretsi nofg co mAmrorna sntogcke hamd beeenn tissued by Gap Inc. as of January 28, 2017?
3. Does Gap Inc. report more than one year of data in its financial statements?  Explain why or why not.
The Spiceland team also ensures that Intermediate Accounting stays current with the latest pedagogy and digital tools.
Case 1–12 Consider the question of whether the United States should converge accounting standards with IFRS.
The authors have incoCropnvoerrgaetneced newR eDquairetda: Analytics cases featuring Tableau at the end of each chapter. These cases
are auto-gradable in C ●o LOn1n–1e1ct and h 1e. Mlpa kse tau lisdt oef nartgsum denetsv theatl ofavpor icnon-vderegemncea.nd skills in analyzing and interpreting data, and ef-
fectively communicating IFfiRnSdings. 2. Make a list of arguments that favor nonconvergence.
3. Indicate your own conclusion regarding whether the United States should converge with IFRS, and indicate
the primary considerations that determined your conclusion.
Data Analytics
The phrase scientia est potentia is a Latin aphorism meaning “knowledge is power!” In a business sense, this
might be paraphrased as “Information is money!” Better information . . . better business decisions! This is the
keystone of data analytics.
Data analytics is the process of examining data sets in order to draw conclusions about the information they
contain. Data analytics is widely used in business to enable organizations to make better-informed business deci-
sions. Increasingly, this is accomplished with the aid of specialized data visualization software such as Tableau.
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SPICELAND | NELSON | THOMAS v
The New Standard
Current events regularly focus public attention on the key role of accounting in providing information useful to financial
decision makers. The CPA exam, too, has changed to emphasize the professional skills needed to critically evaluate
accounting method alternatives. Intermediate Accounting provides a decision makers’ perspective, highlighting the
professional judgment and critical thinking skills required of accountants in today’s business environment. New in the
10th edition, many of these cases have been translated to an auto-graded format in Connect.
“The use of real-world examples throughout the text helps bring accounting to life for students. For example, the use of
Amazon Prime is excellent, illustrating the complexity of current business with an engaging example.”
— Jennifer Winchel, University of Virginia
Comprehensive: The Spiceland team ensures comprehensive coverage and quality throughout the learning
system by building content and assets with a unified methodology that meets rigorous standards. Students are chal-
lenged through diverse examples and carefully crafted problem sets which promote in-depth understanding and drive
development of critical-thinking skills.
The author team is committed to providing a learning experience that fully prepares students for the future by solidif ying
core comprehension and enabling confident application of key concepts. Students can feel confident that the conceptual
underpinnings and practical skills conveyed in the tenth edition will prepare them for a wide range of real world scenarios.
Clear: Reviewers, instructors, and students have all hailed Intermediate Accounting’s ability to explain both simple
and complex topics in language that is coherent and approachable. Difficult topics are structured to provide a solid
conceptual foundation and unifying framework that is built upon with thorough coverage of more advanced topics.
As examples, see chapters 6 (Revenue Recognition), 15 (Leases) and 16 (Income Taxes). The author team’s highly ac-
claimed conversational writing style establishes a friendly dialogue—establishing the impression of a conversation with
students, as opposed to lecturing at them.
This tone remains consistent throughout the learning system, as authors Spiceland, Nelson, and Thomas write not only
the primary content, but also every major supplement: instructor’s resource manual, solutions manual, and test bank.
All end-of-chapter material, too, is written by the author team and tested in their classrooms. Intermediate Accounting
is written to be the most complete, coherent, and student-oriented resource on the market.
Connect: Today’s accounting students expect to learn in multiple modalities. As a result, the tenth edition of
Spiceland’s learning system features the following: Connect, SmartBook’s adaptive learning and reading experience,
NEW Concept Overview Videos, Guided Examples, NEW Excel® simulations, and General Ledger problems.
Quality assessment continues to be a focus of Connect, with over 2,500 questions available for assignment, including
more than 1,125 algorithmic questions.
McGraw-Hill Education is continually updating and improving our digital resources. To that end, our partners hip with
Roger CPA, provides multiple choice practice questions directly within our Connect banks, as well as assignable links
to the Roger CPA site for complementary access to selected simulations.
Spiceland’s Financial Accounting Series
Intermediate Accounting forms a complete learning system when paired with Financial Ac­
counting by authors David Spiceland, Wayne Thomas, and Don Herrmann. Now in its fifth
edition, Financial Accounting uses the same proven approach that has made Intermediate
Accounting a success—a conversational writing style with real-world focus and author-prepared
supplements, combined with Connect’s market leading technology solutions and a ssessment.
spi10175_fm_i-xxxi.indd v 10/16/18 06:56 PM
Confirming Pages
82 SECTION 1 The Role of Accounting as an Information System
Illustration 2–18
The Krinard Cleaning Services Company maintains its records on the cash basis, with one
Cash to Accrual exception. The company reports equipment as an asset and records depreciation expense
on the equipment. During 2021, Krinard collected $165,000 from customers, paid $92,000 in
operating expenses, and recorded $10,000 in depreciation expense, resulting in net income
of $63,000. The owner has asked you to convert this $63,000 in net income to full accrual
Confirming Pages
net income. You are able to determine the following information about accounts receivable,
prepaid expenses, accrued liabilities, and deferred revenues:
  January 1, 2021 December 31, 2021
Accounts receivable $ 16,000 $
Prepaid expenses 7,000 Final PDF to printer
Accrued liabilities CHAPTER 1 2,100
(for operating expenses)
RELEVANCE ObviouDselfye,r rteod mrevaekneu eas difference in the decisio n 3p,r0o0c0ess, information mu st 4,20R0elevance requires
be relevant to the decisiAocnc.r uRale nleevt ianncocme ein is t $h6e8 c,5o0n0te, dxet toerfm fiinneadn acsi afol llroewpso:rting means that infor- that information
mation must possess pCraeshd-ibcatsiivs en evt ainlcuoem eand/or confirmatory value, typic$a 6ll3y,0 0b0oth. For have predictive and
Add:   Increase in accounts receivable 9,000 confirmatory value.
example, current-period nDeetd uinctc: o Dmeec rheaasse p inre pdreicptaiivde e xvpaelnusee sif it helps users pr ed(i3c,0t 0a0 c)ompa-
ny’s future cash flows, anAdd dit:   h a s Dceocnrefiarsme aint oarcycr uveadlu liea biifli tiite shelps investors con firm7 o00r change
their prior assessments reDgeadrudcitn: g I nac rceoamsep ina ndyef’esr rceads rhe-vfelnouwe sgenerating ability. Pr(1e,d2i0c0t)ive and
vi Preface confirmatory value areA ccecnrutaral-bl atsoi st nheet icnocnomceept of “earnings quality,” the abil$i t6y8 ,o5f0 0reported
earnings (income) to predict a company’s future earnings.
Financial information is material if omitting it or misstating it could affect users’ Information is material
decisions. Materiality is an aspect of relevance that depends on a company’s particular if it could affect users’
Illusstirtautaiotni o2n– 1a9nd is based on the nature oCro nmvaegrtninitgu Cdea sohf- Btahsei si tIenmco mthea tt ois A bcecriunagl -rBeapsoisr tIendc.o Rmeecall decisions.
Cotnhveartt inAg pCpaslhe- BIansisc .to’s audit report discussed ea rlier only exprInecsrseeads easn opinionD aebcroeuats emsaterial
Accrual-Basis Income
items. If information is immaterial, Aits’sse tnsot relevant. Add Deduct
The threshold for materiality oftLeina bdileitipeesnds on the relatiDveed duoctllar amount ofA dthde transac-
tion. For example, $10,000 in total anticipated bad debts for a multibillion dollar company
would not be considered material. This same $10,000 amount, however, might easily be
What Keeps SPImCateErialL forA a neiNghbaoDnrhd o2o1 d. TphiezU zleas psosanrslo lere.a rBnreecda hsuesree , othf otuhCgeh c, owonitlle xhmet-lspp yeociuif nwici tnhga tthuarte c oonf vmBerastieoarni.- Focr exkampl?e,
ality, the FASB has bife esnal erse lruecvteannute tofo re sthtaeb pliesrhio adn iys $q1u2a0n,t0i0ta0t iavned mbeagtienrniainligt ya ngdu iednedliinnge sa.c cTohuen ts receivable
threshold for materialairtey $h2a0s, 0b0e0e na nlde f$t 2t4o, 0th0e0 , sruebspjeeccttiivveel yju, dhgomw emnut cohf cthaseh c doimd pthaen yco pmreppanayri ncgol lect from its
the financial statemenctuss taonmde irtss dauurdinigto trhse. period? The answer is $116,000. An increase in accounts receivable
Materiality often reolfa $te4s,0 t0o0 t mhee annast uthreat othf eth ceo mitepman ya sc owlleelcl.t eIdt d$e4p,0e0n0d lse sosn f rqouma lcituasttiovme earss wtheanll accrual sales
as quantitative considreevreantiuoen, sa.n dF ocars he-xbaamsisp lien,c oamn ei lisle $g4a,l0 0p0a ylemsse tnhta no af cac ru$a1l0-b,0as0i0s ibncriobmee .to an
official of a foreign government to secure a valuable contract probably would be considered Professional judgment
material qualitatively even if the amount is small relative to the size of the company. Simi- determines what amount
larly, a small dollar amount that changes a net loss to a net income for the reporting period is material in each
situation.
could be viewed as material to financial statement users for qualitative reasons.
Financial Reporting Cases
Financial Reporting Case Solution
FAITHFUL REPRESENTATION Faithful representation exists when there is agreement Faithful representation
Each chapter opens with a Finan cial between a measure o r1 . deWshcaritp ptiuornp oasned d toh ea dpjuhsetninogm eenntorines i ts epruvrep?o (rpt.s 6 t4o) reAprdejussetnint.g Feonrtr eiexsa hme-lp enmseuarnes t ahgarte ement
Reporting Case that places the student in ple, the term inventory ianll trhevee bnualeasn acree rsehceoegtn iozfe da irne tthaeil pceorimodp agnooyd iss o ur nsedrevriscteoso adr eb tyra nesxfteerrrneda lt o cbau esrtetwoamle-weenor sral, d m pehaesnuorem aenndo n
the role of the decision maker, engaging users to represent itemsr etghaartd laerses oifn wtehnedne cda sfho ris sraeclee ivined t. hIne tohrisd iinnsatrayn cceo, fuorrs eex aomf pblue,s $in1e3s,0s.0 0I fc ashth haats t hbee emne asure is
inventory includes, say, raeccceoivuendt sfo rre cseerivviacbesle t,h iatt lhaacvkesn f’ta iytehtf ubel erne ppreersfeonrmtaetdio. nA.lso, adjusting entriess uepnpaobsleed a t o represent.
the student in an interesting situation To break it down furcthoemrp, afnayit htof urle croegpnreizsee natlla teixopne nreseqsu iinrecsu rtrheadt diunrfionrgm aa ptieornio db,e rcegoamrdplleestse ,o f when cash
related to the accounting issues to come. ©goniondelcuuzl/tu1r2da3RelF,s aanlld t hfere ien fforromma teiaisroc rcpnooa rnuid.ne .tcA .We C sdisoteahnprovyueic rtf stodieoerly npf,r aweoictfihit ahfatouinoul n ter ,ae ctdpohjrneue sosftrmemineeintcnad ttsp,i ’oth hcneeo n oscotfo m osttfhe oeunf soe irncnegon itnts hio secm ooevimqceu rppispthlameetteneedno tbmi fiy se i $-tn 3o,t0 t0Aita 0 ikdn epecnpalu iiciddnt eitiosonn a ilsl icnofomrmplaettieo nif
Then, the cases pose questions for the non that it purports to readpvreasnecne tf.o Or pmaritt toinf gne ax t pyoeratri’os nre ontf. that information can cause it to be necessary for faithful
student in the role of decision maker. false or misleading. p leWtei tmh eaadsujurset mofe nat sc,o mwep agneyt’ sa no paecrcartiunagl pinecrofomrme asntactee manedn ta tbheattt eprr omveidaesus rae fmorroe prperre ecsdoeinmctta--tion.
Marginal notations through out the chap- A financial accountinign gs tfauntudraer odp, earnadti ntgh ec asstha nfdloawrds.- sSeimttiinlagr lyp,r othcee sbsa,l ains cne esuhtereat lp rifo viitd iess far eme oreN ceoumtrpall eimtep lies freedom
ter point out locations where each ques- from bias. You learned eaasrsleisesrm thenatt ocfh aasnsgeetss a innd a lciacboiulintiteisn ags sstoaunrdcaesr dosf cfuatnu rlee acdas tho r aecdevieprtss ea nedc od-isbufrrsoemm beinatss..
nomic consequences for certain companies and that political pressure is sometimes brought
tion is addressed. The case questions to bear on the standard-setting process in hopes of achieving particular outcomes. Account-
are answered at the end of the chapter. ing standards should be established with the goal of providing high-quality information, and
should try not to achieve particular social outcomes or favor particular groups or companies.
Where We’re Headed spi10175_ch02_046-109 82 07/27/18 08:18 AM
Where We’re Headed
These boxes describe the potential
financial reporting effects of many of
As part of its ongoing disclosure framework project, the FASB has proposed using the U.S.
the FASB’s proposed projects that have Supreme Court’s description of materiality. Under that definition, which comes from court
not yet been adopted, as well as joint cases and interpretations, qualitative and quantitative disclosures are material if there is a
substantial likelihood that omitting a disclosure would have been viewed by a reasonable
proposed projects with the IASB. Where user as having significantly altered the total mix of information made available in making a
We’re Headed boxes allow instructors to decision. This change is controversial because it could affect the amount of information that
companies disclose. The FASB has committed to seek more input before moving forward Revised Pages
deal with ongoing projects to the extent with this proposal.
they desire.
CHAPTER 5 Time Value of Money Concepts 245
Additional Consideration Additional Consideration
Boxes
spiS10o17lv5i_nchg0 1f_o0r0 2th-0e45 u n2k1 nown factor in either of these examples could just as easily be done using 07/27/18 11:31 AM
the future value tables. The number of years is the value of n that will provide a present value
These are “on the spot” consid erations of $10,000 when $16,000 is the future amount and the interest rate is 10%.
of important, but inci dental or infrequent, $16,000 (fu ture value ) = $ 10,000  (present  value) × ?*
aspects of the primary topics to which *Future value of $1: n = ?, i = 10%
Rearranging algebraically, the future value table factor is 1.6.
they relate. $16,000 (fu ture value)  ÷ $ 10,000  (present va lue) = 1.6* Revised Pages
*Future value of $1: n = ?, i = 10%
When you consult the future value table, Table 1, you search the 10% column (i = 10%)
for this value and find 1.61051 in row five. So it would take approximately five years to
accumulate $16,000 in the situation described.
CHAPTER 7 Cash and Receivables 343
Decision Makers’
CDoencciseipotn R Meavkieewrs E’ xPeerrcsipseective
Perspective
UCsaisnhg othftee na pisp rcoapllreiadt ea tnaobnlee,a arnnsinwge ra sesaecth b oefc athuese f oitl leoawrninsg l iitntldee opre nndoe inntt eqrueesst.t iFoonrs .this reason, VALUING A SINGLE
These sections appear throughout the 1m. aWnahgaetr iss i tnhvee sfut tiudrlee cvaaslhu ei no fe i$th5e,0r 0c0a saht ethqeu ievnadle onft ss ioxr psheorirot-dtse ramt 8in%v ecsotmmpeonutsn, db ointhte oref swt?hich CASH FLOW AMOUNT
provide a larger return than a checking account. Management’s goal is to hold the minimum
text to illustrate how account ing informa- 2a.m Wouhnatt oisf tchaes hp rneesecnest svaarlyu eto o cf o$n8d,0u0ct0 ntoo rbmea rle bceuisvinedes esi gohpte rpaetrioiondss, fmroemet tiotsd aoyb laigssautimoninsg, aan d
compound interest rate of 12%?
tion is put to work in today’s firms. With 3ttao. koWe l hiatadtltve ia scn atthasgeh e pi nroecfs reoenapstp evosar tlruuinseki to.i feT s$h.1 iT0s o,0tor0a m0d etu-oco hbff e c bareeschtwe rieevedendu crtewissko p yaroenafdir tssr efttrhuorrmonu tgiosh d aalnoy s oat nsrsgeutoumirnnigns g,c whanohi iclee
the CPA exam placing greater focus maadnen ubayl minatneraegsetm raetnet o(fin 2te4r%na aln dde cmisoinotnh lmy ackoemrsp)o. uWndhienthge?r the choice made is appropriate is
4a.n Iof nagno iinnvge astsmseesnsmt oefn $t 2m,0a0d0e gbyre iwn vtoes $to2r,s5 2an0d i nc rtehdreiteo rpse (reioxdtesr, nwalh date cisis tihoen imntaekreesrst )r.ate at
on applica tion of skills in realistic work
wAh cicohm tphaen iyn vmesutsmt ehnatv ge rceaws?h Savoalvilea ubslein fgo rb oththe cporemsepnetn saantdin fgu tbuarlea nvacleuse w taeb dleissc.ussed in the Companies hold cash
set tings, these discussions help your 5p.r eAvpiopuros xsiemcatitoenly a hso wwe mll aansy f oyre aprlsa wnnoeudl dd iits btaukrese fmore nants irnevleasttemd etnot noofr $m5a,2l 5o0p etora aticncgu,m inuvlaetset - to pay for planned and
students gain an edge that will remain ingto, a$n1d5 ,f0in0a0n, caisnsgu mcaisnhg filnotwerse.s tH ios wcoemvepro, ubnecdaeuds aet c1a0s%h iannfnlouwalsl ya?n dS ooluvtef luoswinsg c baont hv aprrye sferonmt uanndp ltaon nsaetdis tfrya nsactions
plaannnde fdu atumreo uvnatlsu,e a t caobmlesp.any needs an additional cash cushion as a precaution against unex- compensating balance
with them as they enter the workplace. pected events. The size of the cushion depends on the company’s ability to convert cash requirements.
Seoqluutiivoanl:ents and short-term investments into cash quickly, along with its short-term borrow-
1 i n.   g F*LF cVuitaqu pru=ea iv dca$liiu5tteyy, o0 . fi0 s$0 1a:  n ×m = 1 e6.,a 5is =8u 68r%8e   7(of*rfo = ma   T$cabo7lme,9 13p) 4an y’s cash position and overall ability to obtain cash in
2th. eP nVo r=m $a8l ,c0o0u0r s×e  0o.f4 0b3u8s8in* e=ss $ t3o, 2p3a1y liabilities as they come due. A company is assumed
  t o    *bPree selinqt vuailude   oiff  $1it:  nh =a 8s,  is =u 1f2f %ic (iferonmt  Tcaablse h2) o r is capable of converting its other assets to cash in
3a. rPelVat i=v e$l1y0 s,0h0o0rt  ×p e0r.i6o2d1 o7f2 *t i=m e$ 6s,o2 1th7at current needs can be met. Frequently, liquidity is
  m   e *aPrseusernet dva luwe io tfh $ 1:r en s=p 2e4c, it = t 2o%  t(hfroem  aTbabillei t2y) t o pay currently maturing debt. The current ratio is
4o.n Ue soifn tgh pe rmesoesntt cvoamlume otanb wlea,ys of measuring liquidity and is calculated by dividing current
awsis_ $$teh_22t _s,,a50 _sb20_sy00e_ t cs=u t rh0ra.e7tn 9et3 ilt7iha*e bri laitriee sc.a Bshy ocro wmiplla brien gc olniavbeirl tietide st oth caats mh uins tt hbee nseaatirs ftieerdm i nw teh hea nveea ar tbearsme
me*Parsesuernet v aolufe  ao f c$1o:m n =p a3,n i y=’ ?s ( flrioqmu Tiadbilet y2,.  i Wappero xcimanat erlye 8f%in)e the measure by adjusting for the implicit
assumption of the current ratio that all current assets are equally liquid. In the acid-test or
Using future value table,
quick ratio, the numerator consists of “quick assets,” which include only cash and cash
spi10175_fm_i-xxxi.indd vi eaqn_ud $$_i 22pv_,,ra50_el20_ep00_na ti=sd , 1esx.h2po6er0nt-*s teesrm, t hien vceusrtrmenetn atsss, eatns dth aact caoreu nletss sr erecaedivilayb lceo. nBveyr teiblilme iinnatoti ncga sihn,v wenet ogreite as 10/16/18 06:56 PM
mo*Fruetu prer veacluies oef $in1:d ni =c a3,t ii o=n ? (ofrfo ma Tcaoblme 1p, ia anppyro’xsi msahteolyr t8-%te)rm liquidity than with the current ratio. We
5d.i sUcusisnsge dp raensde niltl uvsatlruaete tda bthlee,se liquidity ratios in Chapter 3.
_W$_5_e,2 _s5_h0o_ u =ld 0e.v3a5l*uate the adequacy of any ratio in the context of the industry in which the
com $1p5a,n0y0 0o perates a nd other specific circumstances. Bea r in mind, though, that industry aver-
age*Psre saernet  voalnuel yof  o$1n: en  =in ?,d ii =c a10ti%o (nfr oomf  Taabclce e2,p nt aapbpirloixtiym aatenlyd 1 1a yneyar sr)atio is but one indication of liquidity.
ProUfsitianbgi lfiutytu, rfeo rv ianlsutea ntacbel, ei,s perhaps the best long-run indication of liquidity. And a company
mthaa _$ny$1_ 5b5t_,he,2_0e 5_v0y0e_0 or y =th e e2frf.w8ic5iis7ee*n tw ionu mlda nbaeg. iTngh ei tsre ccuerirveanbtl eass steutrsn soov ethr arta, tsiaoy w, ree cdeiisvcaubslse sin a rPea mrt oBre o lfi qtuhiids
cha*Fputtuerer voaflufee orfs $ 1a: nm =e ?a. si u=r 1e0 %o (ff rmoma Tnaablge e1m, n eapnptr’osxi meaftfeilcy i1e1n yceayrs i)n this regard.
There are many techniques that a company can use to manage cash balances. A discus- A manager should actively
sion of these techniques is beyond the scope of this text. However, it is sufficient here to monitor the company’s
understand that management must make important decisions related to cash that have a direct cash position.
impact on a company’s profitability and risk. Because the lack of prudent cash management
can lead to the failure of an otherwise sound company, it is essential that managers, as well as
outside investors and creditors, maintain close vigil over this facet of a company’s health. ●
spi10175_ch05_238-275 245 07/27/18 10:59 AM
Current Receivables PART B
Receivables represent a company’s claims to the future collection of cash, other assets, or
services. Receivables resulting from the sale of goods or services on account (also called
credit sales) are called accounts receivable and often are referred to as trade receivables.
Nontrade receivables are those other than trade receivables and include tax refund claims,
interest receivable, and advances to employees. When a receivable, trade or nontrade, is
accompanied by a formal promissory note, it is referred to as a note receivable. We consider
notes receivable after first discussing accounts receivable.
spi10175_ch07_338-401 343 07/28/18 10:35 AM
Final PDF to printer
SPICELAND | NELSON | THOMAS vii
In talking with so many intermediate accounting faculty, we heard more than how to improve the book—there was much,
Revised Pages
much more that both users and nonusers insisted we not change. Here are some of the features that have made Spiceland
such a phenomenal success.
CHAPTER 4 The Income Statement, Comprehensive Income, and the Statement of Cash Flows 227
7. From the perspective of a creditor, which company offers the most comfortable margin of safety in terms of
its ability to pay fixed interest charges?
P 4–16 Branson Electronic“s OCoumrp asnyt uis da esmnaltls, p unbelicelyd tr atdoed tchominpakny a prbepoaruintg titos fpirsict qsu acrterri tinictearimll yre port to be
Interim financial mailed to shareholders. The following information for the quarter has been compiled:
reporting and broadly. Spiceland is superior in terms of pre-
● Appendix 4 Sales revenue   $ 180,000
sentinCogs t bofi ggo opdsi csotldure cases an d scena3r5i,o00s0 that help
Operating expenses:    
stude nFtixse dunderstand ho$w 59 ,0t0o0 think beyon  d simple
Variable 48,000 107,000
journal entries and worksheet problems.”
Fixed operating expenses include payments of $50,000 to an advertising firm to promote Branson through various
media throughout the year. The income tax rate for Branson’s level of operations in the first quarter is 20%, but
management estim—ateJs tahem effeecsti vBe rraute sfohr twhe oenotirde y,e Car woilllo bre a25d%o. State University
Required:
Prepare the income statement to be included in Branson’s first quarter interim report.
Decision Makers’
Decision Makers’ Perspective
Perspective Cases
Apply your critical-thinking ability to the knowledge you’ve gained. These casCesH AwPillT pErRo v1id5e y o u a nL eoappseorst unity 9to0 1
develop your research, analysis, judgment, and communication skills. You also will work with other students, integrate Designed to further develop
what you’ve learned, apply it in real-world situations, and consider its global and ethical ramifications. This practice will
4. bProreapdaerne y aonu ra kmnoowrtliezdagtieo ann sdc fhuertdhuelre d(es)v edleospc yroibuirn dge cthiseio pna-mttaekrnin go fa biniltiteieress.t over the lease term for the lessee and students’ decision-making
the lessor.
©ImageGap/Getty Images abilities, each chapter includes
5. Prepare the appropriate entries for both Western Soya and Rhone-Metro on December 31, 2022 (the second
Judgment Tlehaes fei npaanycmiaeln cto amndm aumniotyr tiinz atthioe nU).nited States has become increasingly concerned with the quality of reported a robust set of powerful and ef-
CEaarsnein 4g–s1 quality 6. cRePoeqrmqeuuppipiaarmrneeyde :tnehate ri nsai prnepgtrsuo.rpnreiadt eto e Rnthroiense f-oMr ebtoroth a Wnde sthteer na cStuoayla r aensidd uRahlo vnael-uMe eotnr ot hoant dDaetcee ims $b1er,5 3010,. 2025, assuming the fective cases, asking students to
● LO4–2, LO4–3 1. Define the term earnings quality. Confirming Pages analyze, evaluate, and commu-
P 15–23 Rh 2o.n eE-Mxpelatrion Ithned udsitsrtiiensc tmioann buefatwcteuerne sp eerqmuiapnmenetn at nthda tte ims psoorldar oyr e laeransiendg.s O asn iDt reecleamtesb etor 3th1e, 2co0n2c1e, pRt hoof neea-rMnientgrso nicate findings, further building
Purchase option leasedq euqauliitpym.ent to Western Soya Co. for a noncancelable stated lease term of four years ending December 31, 2025,
reasonably at w 3.h iHcho wtim deo peaorsnsiensgsiso mn aonfa tgheem leeanst epdr aacstsiecte sw ailflf ercetv tehret bqaucakli ttyo oRfh eoanrne-inMges?tro. The equipment cost $300,000 to their critical thinking skills. Many
certain to be ma 4n.u fAacstsuurme ea nthda ht aas m aann euxfapcetcutreidn gu sceofmulp lainfey ’osf a sninxu yael airnsc. oImts en sotramteaml esnalte isn cplruicdee dis a $ l3a6rg5e, 7g6a0in. Tfrhoem e xthpee csateled oref sidual of these cases are now auto-
exercised before value ionfv $e2st5m,0e0n0t saetc Dureictieems.b Werh 3a1t ,f a2c0t2o5rs, wis onuoltd gyuoaur acnotneseidd.e Wr ine sdteetrenr mSoinyian gC ow. hies trheears oorn nabolty t hciesr gtaaiinn tsoh oexueldr cbisee a
lease term purchainsec loupdteido nin o ann D aessceesmsmbeern 3t 0o,f 2th0e2 4co, mat paann yo’pst ipoenr mprainceen ot fe $ar1n0i,n0g0s0?. Equal payments under the lease are $134,960 gradable in Connect.
ends; nonlease (including $4,000 annual maintenance costs) and are due on December 31 of each year. The first payment was
18 SECTION 1 Thpea RyJmouledeng tomsf; e Asnactl ec so-untinmga Tadhes e oa nanp D pIeneacfreoamrnmcbeea ro t3fio 1r,ne 2s t0Sr2uy1cst.t uWerimnegst ecrons tSs oiyna ’cso rinpcorreamte einntcaol mboe rrsotawteimnge nratst ei nisc r1e2a%se.d W siegsnteifrinc aSnotylya iknn othwes 1 t9h8e0 isn taenreds t
typeC alesaes 4e–2 rate1 9im90psl iacnitd icno tnhtein lueeass et op abye mreelnevtsa nist 1to0d%ay. .Both companies use straight-line depreciation or amortization. Ethical Dilemmas
● LROe1s5t–ru3c, LtuOr1in5g– 6, RHeiqnuti:r eAd :lease term ends for accounting purposes when an option becomes exercisable if it’s expected to be
EtLc ●Oho 1sL5itO–cs47–a 3l DileRexeme 1 2qr..uc miiWWrseedhhda:ae (tni .taeyr.p,e e ars e BostfPr cuOoc)st.utsr ianrge cinocsltus dreedco ignn riezsetdru?cturing costs? Because ethical ramifications of
1. 3S. hHowow h owwo uRldh oynoue- cMlaestsriofy c raelscturluactteudr itnhge c$o1s3ts4 i,n9 6a0 m aunlntiu-satle lpe ainsceo pmaey mstaetnetms.ent? business decisions impact so
You recently ha 2v.e 4 H.b oeWweh snaht o efuamcldto ptrhsli ows yoleeualdsde y bboeyu ccaloa nslassiidrfgieered i n (r ade)e tbtaeyri mlW cienhsintaegri nnw hStehotyhaaet rC soore. nl(lotsht erse lpsetsorusrectetiu)n raignng dg c(oobs)ot sbd yssh R.o huOoldnn bee-eM inectlruod Iendd iuns atrni es many individuals as well as the
of your tasks is to (htheaesl pslee sspssomrree)?np tWa orfhe ay ?cpoemrpioandy’isc p feirnmaannecnita ela srntiantges?ments for external distribution. The
core of our economy, Ethical Di-
cyJCohuaaudsgi enam 4’rsee– n3l act ru greresnt tcl 3 4yr..e CpwPPdroirroicmeeteppropskaa ararri,neenn iN detagh snaa e looats afiomnotp et opnnotrr haoitanirepzlce raS r itseuaiaanottseadvne e eti stnrenhc tpgmherr eisveedeas sus&l nufuloee trL(sre os o b)tffo oaods ttemnhros c,ecWt kehrr tieeoe bsopiqt rnteti ughorbn neirtr saheSe.te oeSs Wypo- aaqmma tlCtueleo orSarnne.t rsr attoeonheefrd tt ri ptnleRoytae eh refrnroaieiinrnonsnetgaid -nosMn gvpecseer rntimo ratjdoaehl n ceiosnta niltgoge aeDna mtssJee eeciu nmnetne tmo repemrbrdn ae e3fcrtro ts0 3irtc,o1 , te a,hs i2ne nt 0coldr2e aes 1rast.seiefei c saitanoldclky lemmas are incorporated within
2E0ar2n1in.gs ctrheea tlee sdseosri.red results. the context of accounting issues
manDaugreimnegn tthe m 5o. nRPetrhqeupsia roreedf :t hMe aapyp aronpdri aJteu ennetr,i etsh feor cbootmh Wpaesnteyr ns pSoeyna ta $nd1 ,R2h0o0ne,0-M0e0tr oo onn aD ehceemftbye rr a3d1,i o20 a22n (dth e second as they are discussed. These
T ●V L Oa4d–v2e, LrOti4s–in3g camIrse epnata rpniaginyngms. e mTnath naean gd$e am1m,e2no0tr ta0ilzw,a0taiy0osn0 )in. itnencdleudd toe pdr otdhuece choigshtesr ioncfo pmreo? dEuxpclaining. the commercials
6. Prepare the appropriate entries for both Western Soya and Rhone-Metro on December 30, 2024, assuming the features lend themselves very
acRChsea aaswrel geW 4el–ol dr4al dst o t haed vraedrtCRiiposeou qimranucpnghiraaed nsedi ee:Tx sop Vopeft itteoninmns vieeso .l e upTxneuhtrarcerciisl hyce daop rsomoenv pidtdha eat nton dyo ana’st-ieG r.c AthhAieeP fec afoirnnmianmgnsc ewiarhcle inoa tflhsfei.cy A eanrll n (ooCufFn tcOhe e)a n hcnauoassl toasrs qwkueaerdrtee ryl yo eua rnings. well to impromptu class discus-
P 1tE5oa– rp2nri4negpsa qruea laity J unOen 1 J.3 a0nWu haaardyt ij1su ,m s2te0ian2n1gt, b Ney gntuhteyr eyten rt mEol enrcoetnrmo-GnoAicvAse Ple etaahsreendi ncegqosu siipnts mth efirnso tc fomrnot meax dtN?veeverltsi sLineagsi negx fpoer an fsoeu ra-ynedar tpoer iod ending sions and debates, and are
Lleessssaesoeenartdre; n ul neainposngsnd sae- GenA aAsPs et DNceea 2cvl.eel emlHsd b$oe w8pr2 3rd4e1o,3, pn 62oa80n i2a-dG4n ,dA aa hAtd awPvs h eeaianrcrt hnei sixtniipmgnesgec r te petldoah steaesc ettoso swn tiohoimelnl ciobcof ne ltichf eeeep oxtl efop affse ieevnader snayeisensadgersts i.wqn Nui laJell viurteeyllvy?se. erTtx bphaeecckt sC ttoFh eNO ree veseixdlspu. alTla hviena leeuqedu a ipt ment cost complemented by Ethics Cases
guat ●hra anLtOt e“4eT–d3h is adverDtiescienmgb cera 3m1,p 2a02ig4n, w hilal sbe l e$1d0 0to,0 0s0i.g Nneigfioctaiantiot nssa lleeds to i nth eM leasyse ae nguda rJauntneeein agn ad $ 1I 4t0h,0in00k riets idual value. found in the Decision Makers’
reswidiulla cl voanluteinue to briEnqgua iln p acyumsetnotsm unedresr tthhe rleoauseg ahre t$h2e00 m,00o0n atnhd aoref dJuuel oyn. BDeyc ermebceor r3d1 ionfg e atchh ey eaard w citoh sthtes f iarsst payment being
● LaOn1 5a–s2s, eLOt,1 w5–e7 camn amdea otnc hD etcheem bceor 3s1t , o2f0 2t1h.e N gaudyvene rist iaswinarge twhaitt hN etvheels ausdedd iat i5o%n ianlt eJreuslty r astea wlehse.n Bcaelcsuildateinsg, liefa se payments. Perspective Case section at the
we expense theR eaqduvireedrt:ising in May and June, we will show an operating loss on our income end of each chapter.
statement for th 1e. qPrueaparrtee trh. eT ahpepr obparinakte reentqriuesir feosr btohtha tN wguey ecno anndti nNuevee ltso o ns Jhaonuwar qy u1,a 2r0te21r,l yto p rercoofridts t hien l ease.
order to maintai 2n. oPruerp alorea anll ianp pgrooporidat es etnatnridesi nfogr .”both Nguyen and Nevels on December 31, 2021, related to the lease.
Star Problems
P 15spi–1021755_ch04_166-237 227O n January 1, 2021, Harlon Consulting entered into a three-year lease for new office space agreein0g7/ 0t3o/1 8l e 1a0s:0e7 PM
Operating lease; payments of $5,000 in 2021, $6,000 in 2022, and $7,000 in 2023. Payments are due on December 31 of each
In each chapter, particularly rig-
uneven lease year with the first payment being made on December 31, 2021. Harlon is aware that the lessor used a 5% interest
paySmteenpts 3. Idenrattief yw htehne c avlcaulluateinsg rleealsae tpeadym teon ttsh.e situation. For example, in some situations orous problems, designated by
● LO15–4, LO15–c7onfRiedqeuinretdia:lity may be an important value that might conflict with the right to a , require students to combine
kno 1w. .Prepare the appropriate entries for Harlon Consulting on January 1, 2021, to record the lease. multiple concepts or require
2. Prepare all appropriate entries for Harlon Consulting on December 31, 2021, related to the lease.
Step 4. Specify the alternative courses of action.
3. Prepare all appropriate entries for Harlon Consulting on December 31, 2022, related to the lease. significant use of judgment.
Step 5. Eva 4lu. aPtreep athree a lcl aopuprrospersia toe fe natrcietsi ofonr Hsaprelocni Cfioendsu litnin gs oten pD e4c eimnb eter 3r1m, 2s0 2o3f, rtehlaeteird tcoo thnes liesatsee.ncy
with the values identified in step 3. This step may or may not lead
P 15–26 to a O snu Jgangueasryte 1d, 2 c02o1u, rHsaerl oonf C aocnstuioltinng. entered into a three-year lease for new office space agreeing to lease
Operating lease; payments of $7,000 in 2021, $6,000 in 2022, and $5,000 in 2023. Payments are due on December 31 of each
uneSvetne ple a6se. Idenyteiafry w itthh eth ec ofirnsts peaqyumeennt cbeeisn go mf aedae cohn Dpeocesmsibberl e31 c, o20u2r1s. eH aorlfo na ics taiwoanre. tIhfa ts ttheep le 5ss odr ouseesd an 5o%t interest
payments provraitde ew hae nc ocaulcruslaet inogf leaacseti poanym, aenstss.ess the consequences of each possible course of
● LO15–4, LO15–a7ctioRenq ufiorerd a:ll of the stakeholders involved.
1. Prepare the appropriate entries for Harlon Consulting on January 1, 2021, to record the lease.
Step 7. Make your decision and take any indicated action.
2. Prepare all appropriate entries for Harlon Consulting on December 31, 2021, related to the lease.
Ethical dilemm 3. aPsr eapraere palrle aspeprnotperidat et henrtoriuesg fhoro Huatr ltohn iCso bnsouoltikn.g Tonh Dee acenmableyr t3i1c, a2l0 2s2t,e rpelsa toedu ttol ithnee ldea saeb.ove
provide a framew 4.o rPkre pyaoreu a lcl aapnp ruopsreia tteo e netrvieasl fuoar Htea rtlohne Cseon ssuilttuinagt oion nDse.cember 31, 2023, related to the lease.
spi10175_fm_i-xxxi.indd vii 10/16/18 06:56 PM
The Conceptual Framework
PART B
Sturdy buildings are built on sound foundations. The U.S. Constitution is the foundation for
● LO1–6 the laws of our land. The conceptual framework has been described as an “Accounting
Constitution” because it provides the underlying foundation for U.S. accounting standards.
The conceptual framework provides structure and direction to financial accounting and
FINANCIAL
reporting but does not directly prescribe GAAP. It is a coherent system of interrelated objec-
Reporting Case
tives and fundamentals that is intended to lead to consistent standards and that prescribes
the nature, function, and limits of financial accounting and reporting. The fundamentals
Q4, p. 3
are the underlying concepts of accounting that guide the selection of events to be accounted
for, the measurement of those events, and the means of summarizing and communicating
them to interested parties.27
The conceptual framework The FASB disseminates this framework through Statements of Financial Accounting
does not prescribe GAAP. Concepts (SFACs). SFAC 8 discusses the objective of financial reporting and the qualitative
It provides an underlying
foundation for accounting characteristics of useful financial information. SFAC 7 describes how cash flows and present
standards. values are used when making accounting measurements, SFAC 6 defines the accounts and
27“Conceptual Framework for Financial Accounting and Reporting: Elements of Financial Statements and Their Measurement,”
Discussion Memorandum (Stamford, Conn.: FASB, 1976), p. 2.
spi10175_ch01_002-045 18 07/27/18 11:31 AM
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tech problems—although Connect’s 99% uptime
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yourself at status.mheducation.com
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Final PDF to printer
For Students
Effective, efficient studying.
Connect helps you be more productive with your
study time and get better grades using tools like
SmartBook, which highlights key concepts and creates
a personalized study plan. Connect sets you up for
success, so you walk into class with confidence and
walk out with better grades.
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“
I really liked this app—it
Study anytime, anywhere.
made it easy to study when
Download the free ReadAnywhere app and access your
you don't have your text-
online eBook when it’s convenient, even if you’re offline.
”
book in front of you.
And since the app automatically syncs with your eBook in
Connect, all of your notes are available every time you open
- Jordan Cunningham,
it. Find out more at www.mheducation.com/readanywhere
Eastern Washington University
No surprises.
The Connect Calendar and Reports
tools keep you on track with the
13 14
work you need to get done and your
assignment scores. Life gets busy;
Connect tools help you keep learning Chapter 12 Quiz Chapter 11 Quiz
through it all.
Chapter 13 Evidence of Evolution Chapter 11 DNA Technology
Chapter 7 Quiz
Chapter 7 DNA Structure and Gene...
and 7 more...
Learning for everyone.
McGraw-Hill works directly with Accessibility Services
Departments and faculty to meet the learning needs of all
students. Please contact your Accessibility Services office
and ask them to email [email protected], or visit
www.mheducation.com/accessibility for more information.
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