lOMoARcPSD|15670522
Financial Accounting - Weygandt - Kimmel - Kieso -
Solution Manual Accounting in Action
Financial Accounting (Institute of Business Management)
, lOMoARcPSD|15670522
CHAPTER 1
Accounting in Action
ASSIGNMENT CLASSIFICATION TABLE
Brief A B
Study Objectives Questions Exercises Exercises Problems Problems
1. Explain what 1,2,5 1
accounting is.
2. Identify the users and 3, 4 2
uses of accounting.
3. Understand why ethics 3
is a fundamental business
concept.
4. Explain generally accepted 6 4
accounting principles
and the cost principle.
5. Explain the monetary 7, 8, 9, 10 4
unit assumption and
the economic entity
assumption.
6. State the accounting 11, 12, 13 1,2,3,4 5, 6, 7, 11 1A, 2A 1B, 2B
equation, and define 4A 4B
assets, liabilities, and
owner’s equity.
7. Analyze the effects of 14, 15, 5,6,7,8 6, 7, 8, 1A, 2A, 1B, 2B,
business transactions on 16, 18 10, 11 4A, 5A 4B, 5B
the accounting equation.
8. Understand the four 17, 19, 9, 10 9, 12, 13, 2A, 3A, 2B, 3B,
financial statements 20, 21 14, 15, 16 4A, 5A 4B, 5B
and how they are
prepared.
1-1
, lOMoARcPSD|15670522
ASSIGNMENT CHARACTERISTICS TABLE
Problem Difficulty Time Allotted
Number Description Level (min.)
1A Analyze transactions and compute net income. Moderate 40–50
2A Analyze transactions and prepare income statement, Moderate 50–60
owner’s equity statement, and balance sheet.
3A Prepare income statement, owner’s equity statement, and Moderate 50–60
balance sheet.
4A Analyze transactions and prepare financial statements. Moderate 40–50
5A Determine financial statement amounts and prepare Moderate 40–50
owner’s equity statement.
1B Analyze transactions and compute net income. Moderate 40–50
2B Analyze transactions and prepare income statement, Moderate 50–60
owner’s equity statement, and balance sheet.
3B Prepare income statement, owner’s equity statement, and Moderate 50–60
balance sheet.
4B Analyze transactions and prepare financial statements. Moderate 40–50
5B Determine financial statement amounts and prepare Moderate 40–50
owner’s equity statement.
1-2
, Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems
BLOOM’S TAXONOMY TABLE
Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation
1. Explain what accounting is. Q1-1 Q1-5
Q1-2 E1-1
2. Identify the users and uses of Q1-3 E1-2
accounting. Q1-4
3. Understand why ethics is a funda- E1-3
mental business concept.
4. Explain generally accepted Q1-6
accounting principles and the E1-4
cost principle.
5. Explain the monetary unit Q1-8 Q1-7
assumption and the economic Q1-9 Q1-10
entity assumption. E1-4
6. State the accounting equation, Q1-11 Q1-13 E1-6 BE1-1 P1-2A
and define assets, liabilities, and Q1-12 BE1-4 E1-7 BE1-2 P1-4A
lOMoARcPSD|15670522
owner’s equity. E1-5 BE1-3 P1-1B
E1-11 P1-2B
P1-1A P1-4B
7. Analyze the effects of business Q1-14 BE1-6 E1-8 P1-5A
transactions on the accounting Q1-15 BE1-7 E1-10 P1-1B
equation. Q1-16 BE1-8 E1-11 P1-2B
Q1-18 E1-6 P1-1A P1-4B
BE1-5 E1-7 P1-2A P1-5B
P1-4A
8. Understand the four financial Q1-17 Q1-20 P1-2A E1-13
statements and how they are Q1-19 Q1-21 P1-3A
prepared. BE1-10 BE1-9 P1-4A
E1-9 P1-5A
E1-12 P1-2B
E1-14 P1-3B
E1-15 P1-4B
E1-16 P1-5B
Broadening Your Perspective Exploring the Web Financial Reporting All About You
Comparative Analysis Comparative Analysis
Exploring the Web Decision Making Across
the Organization
Communication Activity
Ethics Case
Financial Accounting - Weygandt - Kimmel - Kieso -
Solution Manual Accounting in Action
Financial Accounting (Institute of Business Management)
, lOMoARcPSD|15670522
CHAPTER 1
Accounting in Action
ASSIGNMENT CLASSIFICATION TABLE
Brief A B
Study Objectives Questions Exercises Exercises Problems Problems
1. Explain what 1,2,5 1
accounting is.
2. Identify the users and 3, 4 2
uses of accounting.
3. Understand why ethics 3
is a fundamental business
concept.
4. Explain generally accepted 6 4
accounting principles
and the cost principle.
5. Explain the monetary 7, 8, 9, 10 4
unit assumption and
the economic entity
assumption.
6. State the accounting 11, 12, 13 1,2,3,4 5, 6, 7, 11 1A, 2A 1B, 2B
equation, and define 4A 4B
assets, liabilities, and
owner’s equity.
7. Analyze the effects of 14, 15, 5,6,7,8 6, 7, 8, 1A, 2A, 1B, 2B,
business transactions on 16, 18 10, 11 4A, 5A 4B, 5B
the accounting equation.
8. Understand the four 17, 19, 9, 10 9, 12, 13, 2A, 3A, 2B, 3B,
financial statements 20, 21 14, 15, 16 4A, 5A 4B, 5B
and how they are
prepared.
1-1
, lOMoARcPSD|15670522
ASSIGNMENT CHARACTERISTICS TABLE
Problem Difficulty Time Allotted
Number Description Level (min.)
1A Analyze transactions and compute net income. Moderate 40–50
2A Analyze transactions and prepare income statement, Moderate 50–60
owner’s equity statement, and balance sheet.
3A Prepare income statement, owner’s equity statement, and Moderate 50–60
balance sheet.
4A Analyze transactions and prepare financial statements. Moderate 40–50
5A Determine financial statement amounts and prepare Moderate 40–50
owner’s equity statement.
1B Analyze transactions and compute net income. Moderate 40–50
2B Analyze transactions and prepare income statement, Moderate 50–60
owner’s equity statement, and balance sheet.
3B Prepare income statement, owner’s equity statement, and Moderate 50–60
balance sheet.
4B Analyze transactions and prepare financial statements. Moderate 40–50
5B Determine financial statement amounts and prepare Moderate 40–50
owner’s equity statement.
1-2
, Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems
BLOOM’S TAXONOMY TABLE
Study Objective Knowledge Comprehension Application Analysis Synthesis Evaluation
1. Explain what accounting is. Q1-1 Q1-5
Q1-2 E1-1
2. Identify the users and uses of Q1-3 E1-2
accounting. Q1-4
3. Understand why ethics is a funda- E1-3
mental business concept.
4. Explain generally accepted Q1-6
accounting principles and the E1-4
cost principle.
5. Explain the monetary unit Q1-8 Q1-7
assumption and the economic Q1-9 Q1-10
entity assumption. E1-4
6. State the accounting equation, Q1-11 Q1-13 E1-6 BE1-1 P1-2A
and define assets, liabilities, and Q1-12 BE1-4 E1-7 BE1-2 P1-4A
lOMoARcPSD|15670522
owner’s equity. E1-5 BE1-3 P1-1B
E1-11 P1-2B
P1-1A P1-4B
7. Analyze the effects of business Q1-14 BE1-6 E1-8 P1-5A
transactions on the accounting Q1-15 BE1-7 E1-10 P1-1B
equation. Q1-16 BE1-8 E1-11 P1-2B
Q1-18 E1-6 P1-1A P1-4B
BE1-5 E1-7 P1-2A P1-5B
P1-4A
8. Understand the four financial Q1-17 Q1-20 P1-2A E1-13
statements and how they are Q1-19 Q1-21 P1-3A
prepared. BE1-10 BE1-9 P1-4A
E1-9 P1-5A
E1-12 P1-2B
E1-14 P1-3B
E1-15 P1-4B
E1-16 P1-5B
Broadening Your Perspective Exploring the Web Financial Reporting All About You
Comparative Analysis Comparative Analysis
Exploring the Web Decision Making Across
the Organization
Communication Activity
Ethics Case
