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1、CHAPTER10INTRODUCTIONTOLIABILITIES:ECONOMICCONSEQUENCES,CURRENTLIABILITIES,ANDCONTINGENCIESBRIEFEXERCISESBE10–1a.Dividendsdeclaredduringayearandtheactualcashpaidfordividendsduringtheyearmaybedifferentbecausedividendsdeclaredincludesdividendsthatareaccruedbutnotpaidasofyearen
2、d.Thecashpaidfordividendswillincludeallpaymentsthatrelatetodividendsduringtheyear,regardlessofwhenthosedividendswererecognizedinthefinancialstatements.b.Dividendpayableisashorttermliabilitybecauseitrepresentsdividendsthatwillhavetobepaidwithinthenext12monthsasofthebalanceshe
3、etdate.c.Dividendpayable–12/31/02$808.4million+Dividendsdeclared–20033,264.7million–Dividendspaidduring2003(3,250.4)millionDividendpayable–12/31/03$822.7millionBE10–2a.Calculationofinventorypurchasesduring2003:Inventory@12/31/02$4,760million+Purchases-2003x–Inventory@12/31/0
4、3(5,343)millionCostofGoodsSold–2003$31,790millionx=32,373..................................................................................Inventory(+A).........................................................................................32,373AccountsPayable(+L).........
5、......................................................32,373Recordinventorypurchasesmadeduring2003.b.Calculationofpaymentsmadetosuppliersduring2003:AccountsPayable@12/31/2002$4,684million+2003InventoryPurchases32,373million–AccountsPayable@12/31/2003(5,448)millionPaymentsmad
6、etosuppliersduring2003$31,609millionAccountsPayable(-L)......................................................................31,609Cash(-A)....................................................................................31,609Recordcashpaidtosuppliersduring2003.BE10–31a.A
7、ssets=Liabilities+StockholdersEquity$0=+$400+–$400Theaccrualforlitigationin2003increasedtheliabilitiesandreducedretainedearnings.Theretainedearningswerereducedbecausenetincomewasreducedbythisexpense.b.Monsantoisactuallyfollowingacoupleofaccountingprincipleswiththisexpense.By
8、recordingcontingencylosses,thecompanyisfollowingtheconservatismprincipleand
