FUNDAMENTAL ACCOUNTING PRINCIPLES 22ND EDITION SOLUTIONS MANUAL BY WILD SHAW CHIAPPETTA

FUNDAMENTAL ACCOUNTING PRINCIPLES 22ND EDITION SOLUTIONS MANUAL BY WILD, SHAW, CHIAPPETTA Chapter Accounting for Merchandising Operations Questions Merchandising companies report Merchandise Inventory on the balance sheet, service companies not Also, merchandising companies report both Sales (of goods) and Cost of Goods Sold on the income statement, while service companies not Additional accounts of a merchandising company likely include Merchandise Inventory, Sales (of goods), Cost of Goods Sold, Sales Discounts, and Sales Returns and Allowances (and possibly Delivery Expense) A company can have a net loss if its expenses (absent cost of goods sold) are greater than its gross profit from sales of merchandise A cash discount can be offered to encourage customers to promptly pay This provides cash more quickly to the seller and avoids the costs of additional collection activities Of course, the seller must perform a costs vs benefits analysis on the merits and terms of any cash discount offered to customers For a perpetual inventory system, inventory shrinkage is determined by taking a physical count of the inventory available at the end of a period and comparing that amount with the amount recorded in the Merchandise Inventory account Cash discounts are granted in return for early payment and reduce the amount paid below the negotiated price Cash discounts are recorded in the accounting records (as a reduction of Merchandise Inventory) Trade discounts are deducted from the 5-291 Chapter 05 - Accounting for Merchandising Operations list or catalog price to determine the purchase (negotiated) price Trade discounts are not recorded in the accounting records Sales discount is a term used by a seller to describe a cash discount granted to a customer Purchase discount is a term used by a purchaser to describe a cash discount received from a seller (It is a matter of perspective: seller versus buyer.) A manager is concerned about the quantity of its purchase returns because the company incurs costs in receiving, inspecting, identifying, and returning the merchandise More returns create more expenses By knowing more about returns, the manager can decide if they are a problem and how they can be minimized The sender (maker) of a debit memorandum records a debit in an account of the recipient; and the recipient records a credit in an account maintained for the sender 5-292 10 The single-step income statement format presents cost of goods sold and expenses in one list, totals the list, and subtracts the total from net sales in one step The multiple-step format presents intermediate totals, including gross profit (the difference between net sales and cost of goods sold) and sub-categories of expenses (often by key activities) 11 Apple calls its inventory account “Inventories.” A detailed calculation of cost of goods sold is not presented by Apple 12 Google titles its cost of sales accounts as “Cost of revenues” Google presents costs of sales separate for “Google (advertising and other)” and “Motorola Mobile (hardware and other)” 13 Samsung titles its cost of goods sold account “Cost of sales.” 14 Samsung reports a separate gross margin figure on its consolidated income statement Its 2013 gross profit is ₩90,996,358 (in millions of Korean won) 15 A buyer should attempt to negotiate the shipping terms FOB destination In this case, title will pass after the goods are safely delivered to the buyer’s business and transportation charges will be the responsibility of the supplier (seller) QUICK STUDIES Quick Study 5-1 (10 minutes) G H B I A F J C E 10 D Quick Study 5-2 (5 minutes) Answer: d 5-293 Chapter 05 - Accounting for Merchandising Operations Quick Study 5-3 (15 minutes) Computation of net income: Krug Service Co Revenues Less: Expenses Net income $14,000 8,500 $ 5,500 Kleiner Merchandising Co Sales Less: Cost of goods sold (see below*) Gross profit Less: Operating expenses Net income $ 9,500 7,200 2,300 1,450 $ 850 *Computation of cost of goods sold: Beginning inventory Plus: Purchases Goods available for sale Less: Ending inventory Cost of goods sold _ $ 5,000 3,900 8,900 1,700 $ 7,200 Quick Study 5-4 (15 minutes) Nov Merchandise Inventory 6,000 Accounts Payable 6,000 To record credit purchase [(600 x $10] Nov Accounts Payable 250 Merchandise Inventory 250 Returned defective units [(25 x $10] Nov 15 Accounts Payable 5,750 Cash Merchandise Inventory* Paid for purchase less cash discount *[(6,000 - $250) x 2%] Quick Study 5-5 (10 minutes) a) 5-294 5,635 115 Aug Merchandise Inventory 60,000 Accounts Payable 60,000 To record credit purchase b) Aug 11 Accounts Payable 60,000 Cash* Merchandise Inventory 58,800 1,200 Paid for purchase less cash discount * [(60,000 x (100% - 2%)] Quick Study 5-6 (10 minutes) a) Sept 15 b) Sept 28 Merchandise Inventory Accounts Payable To record credit purchase Accounts Payable 35,000 35,000 35,000 Cash Paid for purchase and discount period missed 5-295 35,000 Chapter 05 - Accounting for Merchandising Operations Quick Study 5-7 (10 minutes) Apr Accounts Receivable 3,000 Sales 3,000 To record credit sale Cost of Goods Sold 1,800 Merchandise Inventory 1,800 To record cost of credit sale Sales Returns and Allowances 600 Accounts Receivable 600 To record sales return Merchandise Inventory Cost of Goods Sold 360 360 Restore cost of returned goods to inventory 11 Cash 2,352 Sales Discounts* 48 Accounts Receivable 2,400 Received payment less cash discount *[($3,000 - $600) x 2%] Quick Study 5-8 (10 minutes) July 31 Cost of Goods Sold Merchandise Inventory To adjust for shrinkage based on physical count [$37,800 - $35,900] 5-296 1,900 1,900 Quick Study 5-9 (10 minutes) July 31 Sales 160,200 Income Summary 160,200 To close temporary accounts with credit balances July 31 Income Summary 165,900 Sales Discounts 4,700 Sales Returns and Allowances 6,500 Cost of Goods Sold* Depreciation Expense Salaries Expense Miscellaneous Expenses 106,900 10,300 32,500 5,000 To close temporary accounts with debit balances (*$105,000 + $1,900 —from QS 5-8) Quick Study 5-10 (10 minutes) a b a a Quick Study 5-11 (10 minutes) Acid-test ratio = ($1,490 + $2,800) / ($5,750 + $850) = 0.65 Explanation of acid-test ratio: The acid-test ratio is used to evaluate (reflect on) the liquidity of a company It helps in determining whether a company will be able to meet its current obligations as they come due with its most liquid assets In this case, the company only has 65 cents available in quick assets to pay $1.00 in current liabilities as they come due An acid-test ratio less than one usually suggests some concern and encourages further analysis of liquidity 5-297 Chapter 05 - Accounting for Merchandising Operations Quick Study 5-12 (10 minutes) Similarities: Both the acid-test ratio and current ratio are used to assess liquidity Both ratios are computed with current liabilities as the denominator Differences: The current ratio includes all current assets in the numerator The acid-test ratio includes current assets less inventories and prepaids in its numerator (leaving cash & equivalents, current receivables, and short-term investments) Comparison and Description: Compared with the current ratio, the acid-test ratio is a more stringent test of a company’s ability to meet its current obligations The acid-test ratio is more stringent as it does not assume a company relies on prepaids and inventory to pay current liabilities This is because prepaids and inventory assets are not generally available to satisfy current obligations Quick Study 5-13 (10 minutes) (a) Sales $150,000 Sales discounts (5,000) Sales returns and allowances (20,000) Net sales 125,000 Cost of goods sold (79,750) Gross profit $ 45,250 Gross margin ratio: (Gross profit / Net sales) 36.2% (b) $550,000 (17,500) (6,000) 526,500 (329,589) $196,911 37.4% (c) $38,700 (600) (5,100) 33,000 (24,453) $ 8,547 25.9% (d) $255,700 (4,800) (900) 250,000 (126,500) $123,500 49.4% Interpretation of gross margin ratio for case a: The ratio of 36.2% implies that for each dollar in net sales the company earns 36.2 cents in gross profit The company must still deduct other expenses that it incurs in running the business when computing net income 5-298 Quick Study 5-14 (20 minutes) Multiple-step income statement adidas Group Income Statement (€ millions) For Year Ended December 31, 2013 Net sales €14,492 Cost of sales 7,352 Gross profit 7,140 Operating expenses Royalty and commission income € 104 Other operating income 143 Other operating expenses 6,185 Operating profit 1,202 Other revenues and gains (expenses and losses) Financial income 26 Financial expenses 94 Income before taxes 1,134 Income taxes 344 Net income € 790 Single-step income statement adidas Group Income Statement (€ millions) For Year Ended December 31, 2013 Revenues Net sales Royalty and commission income Other operating income Financial income Total revenues €14,492 104 143 26 14,765 Expenses Cost of sales €7,352 Other operating expenses 6,185 Financial expenses 94 Income taxes 344 Total expenses Net income 13,975 € 790 5-299 Chapter 05 - Accounting for Merchandising Operations Quick Study 5-15A (5 minutes) a b c d e Periodic inventory system Perpetual inventory system Perpetual inventory system Perpetual inventory system Perpetual inventory system Quick Study 5-16A (10 minutes) Nov Purchases 6,000 Accounts Payable 6,000 To record credit purchase [(600 x $10] Accounts Payable 250 Purchases Returns & Allowances 250 Returned defective units [(25 x $10] 15 Accounts Payable 5,750 Cash Purchases Discounts* 5,635 115 Paid for purchase less cash discount * [(6,000 - $250) x 2%)] Quick Study 5-17A (10 minutes) Apr Accounts Receivable Sales 3,000 3,000 To record credit sale Sales Returns and Allowances Accounts Receivable 600 600 To record sales return 11 Cash Sales Discounts* Accounts Receivable Received payment less cash discount *($3,000 - $600) x 2% 5-300 2,352 48 2,400 Chapter 05 - Accounting for Merchandising Operations Serial Problem — SP (Continued) S Rey, Capital Date Explanation PR Dec 31 Balance Jan Date Feb 15 Date Jan 11 16 Mar 16 24 Debit S Rey, Withdrawals Explanation PR Debit 4,800 Acct No 302 Credit Balance 4,800 Computer Services Revenue Explanation PR Debit Acct No 403 Credit Balance 7,000 7,000 4,000 11,000 5,260 16,260 9,047 25,307 Sales Date Jan 13 26 Feb 23 Mar 25 30 Date Jan 20 Acct No 301 Credit Balance 80,360 25,000 105,360 Explanation PR Debit Sales Returns and Allowances Explanation PR Debit 500 5-352 Acct No 413 Credit Balance 5,200 5,200 5,800 11,000 3,220 14,220 2,800 17,020 2,220 19,240 Acct No 414 Credit Balance 500 Serial Problem — SP (Continued) Date Jan 22 Date Jan 13 26 Feb 23 Mar 25 30 Date Sales Discounts Explanation PR Cost of Goods Sold Explanation PR Debit 47 Acct No 415 Credit Balance 47 Debit 3,560 4,640 2,660 2,002 1,048 Acct No 502 Credit Balance 3,560 8,200 10,860 12,862 13,910 Depreciation Expense—Office Equipment Acct No 612 Explanation PR Debit Credit Balance Depreciation Expense—Computer Equipment Date Date Jan 31 Feb 26 Explanation PR Wages Expense Explanation PR Date Insurance Expense Explanation PR Date Rent Expense Explanation PR 5-353 Acct No 613 Debit Credit Balance Debit 125 1,250 1,000 Acct No 623 Credit Balance 125 1,375 2,375 Debit Acct No 637 Credit Balance Debit Acct No 640 Credit Balance Chapter 05 - Accounting for Merchandising Operations Serial Problem — SP (Continued) Date Computer Supplies Expense Explanation PR Debit Acct No 652 Credit Balance Date Feb Advertising Expense Explanation PR Debit 600 Acct No 655 Credit Balance 600 Mileage Expense Explanation PR Acct No 676 Credit Balance 192 320 Date Feb 27 Mar 31 Debit 192 128 Date Miscellaneous Expenses Explanation PR Debit Acct No 677 Credit Balance Date Mar 11 Repairs Expense—Computer Explanation PR Debit 960 Acct No 684 Credit Balance 960 5-354 Serial Problem — SP (Continued) Acct No 101 106.1 106.2 106.3 106.4 106.5 106.6 106.7 106.8 106.9 119 126 128 131 163 164 167 168 201 210 236 301 302 403 413 414 415 502 612 613 623 637 640 652 655 676 677 684 Part BUSINESS SOLUTIONS Partial Work Sheet March 31, 2016 Unadjusted Trial Balance Adjustments Account Title Cash 68,057 Alex’s Engineering Co Wildcat Services 2,800 Easy Leasing 9,047 IMF Co 5,220 Liu Corporation Gomez Co Delta Co KC, Inc 5,800 Dream, Inc Merchandise inventory 846 (g) 142 Computer supplies (a) 1,305 3,310 Prepaid insurance (b) 555 1,665 Prepaid rent (d) 2,475 3,300 Office equipment 8,000 Accumulated depreciation– (f) 400 400 Office equipment Computer equipment 20,000 Accumulated depreciation– (e) 1,250 1,250 Computer equip Accounts payable Wages payable (c) 875 Unearned computer services revenue S Rey, Capital 105,360 S Rey, Withdrawals 4,800 Computer services revenue 25,307 Sales 19,240 Sales returns and allow 500 Sales discounts 47 Cost of goods sold (g) 142 13,910 Depreciation expense– (f) 400 Office equipment Depreciation expense– (e) 1,250 Computer equipment Wages expense (c) 875 2,375 Insurance expense (b) 555 Rent expense (d) 2,475 Computer supplies expense (a) 1,305 Advertising expense 600 Mileage expense 320 Miscellaneous expenses Repairs expense–Computer 960 Totals 151,557 151,557 7,002 7,002 5-355 Adjusted Trial Balance 68,057 2,800 9,047 5,220 0 5,800 704 2,005 1,110 825 8,000 800 20,000 2,500 875 105,360 4,800 25,307 19,240 500 47 14,052 400 1,250 3,250 555 2,475 1,305 600 320 960 154,082 154,082 Chapter 05 - Accounting for Merchandising Operations Serial Problem — SP (Continued) Part BUSINESS SOLUTIONS Income Statement For Three Months Ended March 31, 2016 Revenues Computer services revenue Net sales* Total revenues Expenses Cost of goods sold $14,052 Depreciation expense—Office equipment Depreciation expense—Computer equipment Wages expense Insurance expense Rent expense Computer supplies expense Advertising expense Mileage expense Repairs expense—Computer Total expenses $25,307 18,693 44,000 400 1,250 3,250 555 2,475 1,305 600 320 960 Net income 25,167 $18,833 * Net sales = $19,240 - $500 - $47 = $18,693 Part BUSINESS SOLUTIONS Statement of Owner’s Equity For Three Months Ended March 31, 2016 S Rey, Capital, Dec 31, 2015 Plus: Investments by owner Net income Less: Withdrawals by owner S Rey, Capital, March 31, 2016 5-356 $ 80,360 25,000 18,833 124,193 4,800 $119,393 Serial Problem — SP (Concluded) Part BUSINESS SOLUTIONS Balance Sheet March 31, 2016 Assets Current assets Cash Accounts receivable* Merchandise inventory Computer supplies Prepaid insurance Prepaid rent Total current assets Plant assets Office equipment Accumulated depreciation—Office equipment Computer equipment Accumulated depreciation—Computer equipment Total plant assets Total assets $ 68,057 22,867 704 2,005 1,110 825 95,568 $8,000 (800) 20,000 (2,500) 7,200 17,500 24,700 $120,268 Liabilities Current liabilities Wages payable $ 875 Equity S Rey, Capital 119,393 Total liabilities and equity $120,268 *Accounts receivable = $2,800 + $9,047 + $5,220 + $5,800 = $22,867 5-357 Chapter 05 - Accounting for Merchandising Operations Reporting in Action — BTN 5-1 Compute cost of sales for 2013 as follows ($ millions) September 29, 2012 inventory Plus cost of goods purchased Less September 28, 2013 inventory Cost of goods sold 791 ? (1,764) $106,606 Then, solve for: Cost of goods purchased * $107,579 $ *($106,606 - $791 + $1,764) ($ millions) 2013 Current Acid-Test Ratio Ratio Current assets Cash and equivalents $14,259 Short-term marketable sec 26,287 Accounts receivables, net 13,102 Inventories, net 1,764 Deferred tax assets 3,453 Vendor non-trade receivables 7,539 Other current assets 6,882 Total current assets $73,286 Total quick assets Total current liabilities $43,658 Ratio 1.68 $14,259 26,287 13,102 _ 2012 Current Acid-Test Ratio Ratio $10,746 18,383 10,930 791 2,583 7,762 6,458 $57,653 $53,648 $10,746 18,383 10,930 _ $40,059 $43,658 $38,542 $38,542 1.23 1.50 1.04 Interpretation: The current ratio increased from 1.50 in 2012 to 1.68 in 2013 The acid-test ratio increased from 1.04 in 2012 to 1.23 in 2013 The year-to-year comparison shows that Apple’s liquidity position has improved slightly when considering the current ratio and the acid-test ratio In both years its current ratio is at or above the industry average of 1.5 but below the rule-of-thumb ratio of 2.0 A similar interpretation applies to its acid-test ratio, which is below the industry average of 1.25 but is above the rule-of-thumb ratio of 1.0 Solution depends on the financial statement data obtained 5-358 Comparative Analysis — BTN 5-2 Apple ($ millions) Google Current Prior Current Prior Net sales $170,910 $156,508 $59,825 $50,175 Cost of sales 106,606 87,846 25,858 20,634 Gross margin $ 64,304 $ 68,662 $33,967 $29,541 Gross margin ratio 37.6% 43.9% 56.8% 58.9% In both years, Google’s gross margin ratio was higher than that for Apple For both years, Apple’s gross margin ratio was below the industry average of 45.0%, whereas in both years Google’s gross margin exceeded the industry average Apple’s gross margin ratio declined from 43.9% to 37.6% and Google’s gross margin ratio declined from 58.9% to 56.8% Ethics Challenge — BTN 5-3 A few students sometimes feel that Amy has devised a clever way to beat the system She appears to be succeeding in getting something for free However, most students fortunately feel that Amy is abusing the system and that her ethical conduct needs an overhaul The instructor may wish to point out that customer abuses such as Amy’s usually result in stores adopting stringent return policies that impact all customers who have legitimate needs to return unused products At some point, Amy will probably suffer discomfort when questioned about items that are returned in less than new condition Also, if store managers suspect Amy is abusing the system, they may no longer allow her to shop at their store If Amy is banned from the store, she will likely suffer humiliation for herself, her family, and her friends 5-359 Chapter 05 - Accounting for Merchandising Operations Ethics Challenge, BTN 5-3 — (Concluded) The merchandising company accounts for sales returns using a contra revenue account called Sales Returns and Allowances A dress returned with a sales bill of $200 would be accounted for as follows: Sales Returns and Allowances 200 Accounts Receivable 200 Also, if the item is returned to inventory (and it had cost $160), the following entry is made: Merchandise Inventory 160 Cost of Goods sold Communicating in Practice 160 — BTN 5-4 Note: While responses will vary, the essence of its content follows: TO: Mr V Velakturi FROM: DATE: SUBJECT: Reply to inventory shrinkage question You are correct in noting that Music Plus has lost inventory as a result of shoplifting and other forms of shrinkage However, you will be pleased to know your investment in security has paid off Let me explain We maintain a perpetual inventory system, which continuously updates inventory account balances as goods are purchased, sold, and returned At the end of each accounting period, we take an actual physical inventory and compare this amount to our inventory records These accounting procedures for verifying inventory available have disclosed that the amount of inventory loss is not abnormally large Accounting procedures allow this immaterial shrinkage to be directly charged to cost of goods sold This is why you not see a specific deduction for shrinkage on the income statement Instead, the deduction has been taken in the form of increased cost of goods sold I hope this addresses your concern and that you are now confident that net income is not overstated If you have any additional questions or require more specific information regarding inventory shrinkage, please let me know The supporting information is available in the accounting records 5-360 Taking It to the Net Fiscal Year ($ thousands) 2012 — BTN 5-5 2013 2014 Net sales $1,721,750 $2,227,717 $2,428,257 Cost of goods sold 1,042,197 1,240,989 1,422,143 Gross margin $ 679,553 $ 986,728 $1,006,114 Gross margin ratio 39.5% 44.3% 41.4% Analysis: J Crew’s gross margin ratio improved from 39.5% in 2012 to 44.3% in 2013, but declined to 41.4% in 2014 Its net sales increased in 2014, albeit with a lower gross margin percentage 5-361 Chapter 05 - Accounting for Merchandising Operations Teamwork in Action — BTN 5-6 a Net sales computation Sales Less: Sales discounts Sales returns and allowances Net sales $600,000 $ 13,000 20,000 b Total cost of merchandise purchases computation Invoice cost of merchandise purchases Less: Purchase discounts received Purchase returns and allowances Add costs of transportation-in Total cost of merchandise purchases c Cost of goods sold computation Merchandise inventory, Beginning Total cost of merchandise purchased (from b) Merchandise available for sale Merchandise inventory, Ending Cost of goods sold d Gross profit computation Net sales (from a) Less: Cost of goods sold (from c) Gross profit 5-362 33,000 $567,000 $360,000 (9,000) (11,000) 22,000 $362,000 $ 98,000 362,000 $460,000 (84,000) $376,000 $567,000 376,000 $191,000 Teamwork in Action (Concluded) e Net income computation Gross profit from sales (from d) Operating expenses (given) Net income $191,000 50,000 $141,000 Net income is $141,000 The inventory account balance is $84,000 If actual (physical) inventory is $76,000, an $8,000 loss from inventory shrinkage occurred This would result in an adjustment necessitating a reduction (credit) to the inventory account and an increase (debit) to cost of goods sold This $8,000 increase in cost of goods sold would result in a corresponding decrease in both gross profit and net income This means that net income would decline to $133,000 5-363 Chapter 05 - Accounting for Merchandising Operations Entrepreneurial Decision — BTN 5-7 Sseko Designs Forecasted Income Statement For Year Ended January 31, 2015 Net sales ($1,000,000 x 1.09) Cost of sales* ($1,090,000 x 61%) Expenses ($200,000 x 1.06) Net income $1,090,000 664,900 212,000 $ 213,100 *Gross profit ratio = ($1,000,000 - $610,000) / $1,000,000 = 39%; therefore the ratio of cost of sales to sales = 100% - 39% = 61% The proposal yields a forecasted net income of $213,100 This compares favorably to the prior year’s net income of $190,000 Accordingly, based on these facts alone, the company should implement the proposal There are many issues that should be considered Among them are: First, there is the issue of the prediction itself That is, are estimates reasonable or could reality be markedly different from these estimates? Second, and related to the first, there is a need to consider “ranges” of possible scenarios since the future is unpredictable This would involve looking at alternative possibilities and then assessing the range of outcomes Third, there is a concern with the impact of these changes on customer attitudes For example, one concern might be with the proposed change to an FOB shipping point policy from FOB destination We need to be certain that our customers will not object to this change and look elsewhere for their merchandise In addition to issues of confidence in prediction, one should also consider that there may be speeding up of cash collections Customers currently have 15 days to earn a 1% discount By changing the terms, customers will have only 10 days to earn a 3% discount That additional discount may motivate some customers to pay sooner Currently, the company sends a signal to customers through terms of n/60 that it is willing to wait 60 days for payment By changing the terms to n/30, the company signals that it is now only willing to wait 30 days before payments are overdue This may motivate customers to pay sooner In sum, we must consider alternative possibilities, both good and bad, with these proposed policy changes 5-364 Hitting the Road — BTN 5-8 There is no formal solution for this field activity As the discussion facilitator, the instructor should try to develop a sense of how willing retail managers are in granting sales allowances, the range of return policies employed, and strategies managers use to stem return abuses Global Decision — BTN 5-9 (in millions) Samsung* Net sales ₩228,692,667 Apple $170,910 Google $59,825 Cost of sales 137,696,309 106,606 25,858 Gross margin ₩ 90,996,358 $ 64,304 $33,967 Gross margin ratio 39.8% 37.6% 56.8% *millions of Korean won Gross Margin % Google 56.8% Rank Samsung 39.8% Apple 37.6% Samsung, Apple and Google each use the multiple-step format for their income statements Google’s income statement is a mix between multiple-step and single-step as it does not report a measure of gross profit separately however other items such as Income from operations are reported Samsung’s income statement is somewhat different from what most U.S companies use in that the term Profit for the year is used instead of net income or net earnings and they report in Korean won instead of dollars More download links: fundamental accounting principles 22nd edition exercise answers fundamental accounting principles 22nd edition test bank fundamental accounting principles 22nd edition solutions manual pdf fundamental accounting principles 21st edition answer key 5-365 Chapter 05 - Accounting for Merchandising Operations fundamental accounting principles 21st edition solutions manual pdf fundamental accounting principles 20th edition answer key pdf fundamental accounting principles 22nd edition answer key pdf fundamental accounting principles 18th edition larson wild chiappetta solutions manual fundamental accounting principles 20th edition solutions manual pdf 5-366