Financial_Accounting_IFRS_3rd_Edition_Solutions_Manual

Financial Accounting IFRS 3rd Edition Solutions Manual Weygandt Kimmel
Kieso



CHAPTER 3

Adjusting the Accounts


ASSIGNMENT CLASSIFICATION TABLE

Brief A B
Exercises Problems Problems
Learning Objectives Questions Do It! Exercises



*1. Explain the time period 1 1 1
assumption.


*2. Explain the accrual 2, 3, 4, 5 1 2, 3, 10,16
basis of accounting.


*3. Explain the reasons for 6, 7 1
adjusting entries.


*4. Identify the major types 8, 18 2, 8 4, 6, 11
of adjusting entries.


*5. Prepare adjusting 8, 9, 10, 11, 2, 3, 4, 5, 2 5, 6, 7, 8, 9, 1A, 2A, 3A, 1B, 2B,
entries for 12, 13, 18, 6, 8 10, 11, 12, 3B,
deferrals. 19, 20 13, 15 4A, 5A, 6A 4B, 5B


*6. Prepare adjusting 8, 14, 15, 2, 7, 8 3 5, 6, 7, 8, 1A, 2A, 3A, 1B, 2B,
entries for 16, 17, 18, 9, 10, 11, 3B,
accruals. 19, 20 12, 13, 15 4A, 5A, 6A 4B, 5B


*7. Describe the nature and 21 9, 10 4 10, 11, 12, 1A, 2A, 3A, 1B, 2B,
3B,
purpose of an adjusted 13, 14 5A, 6A 5B
trial balance.



Weygandt Financial Accounting IFRS 3e Solutions Manual 3-1

, *8. Prepare adjusting 22 11 17, 18 6A
entries for the
alternative treatment of
deferrals.

*9. Discuss financial 23, 24, 25, 12, 13 19, 20, 21,
reporting 26, 27, 28 14, 15 22, 23
concepts.


*Note: All asterisked Questions, Exercises, and Problems relate to material contained in the appendix to the chapter.

,Weygandt Financial Accounting IFRS 3e Solutions Manual 3-2



ASSIGNMENT CHARACTERISTICS TABLE

Problem Difficulty Time
Number Description Level Allotted (min.)



1A Prepare adjusting entries, post to ledger accounts, and Simple 40–50
prepare an adjusted trial balance.


2A Prepare adjusting entries, post, and prepare adjusted trial Simple 50–60
balance and financial statements.

3A Prepare adjusting entries and financial statements. Moderate 40–50


4A Prepare adjusting entries. Moderate 30–40


5A Journalize transactions and follow through accounting Moderate 60–70
cycle to preparation of financial statements.

*6A* Prepare adjusting entries, adjusted trial balance, and Moderate 40–50
financial statements using appendix.

1B Prepare adjusting entries, post to ledger accounts, and Simple 40–50
prepare an adjusted trial balance.

2B Prepare adjusting entries, post, and prepare adjusted trial Simple 50–60
balance and financial statements.

3B Prepare adjusting entries and financial statements. Moderate 40–50


4B Prepare adjusting entries. Moderate 30–40


5B Journalize transactions and follow through accounting Moderate 60–70
cycle to preparation of financial statements.


WEYGANDT FINANCIAL ACCOUNTING, IFRS EDITION, 3e


Weygandt Financial Accounting IFRS 3e Solutions Manual 3-3

, CHAPTER 3
ADJUSTING THE ACCOUNTS


Number LO BT Difficulty Time (min.)


BE1 3 C Simple 4–6
BE2 4–6 AN Moderate 6–8
BE3 5 AN Simple 3–5
BE4 5 AN Simple 3–5
BE5 5 AN Simple 2–4
BE6 5 AN Simple 2–4
BE7 6 AN Simple 4–6
BE8 4–6 AN Simple 5–7
BE9 7 AP Simple 4–6
BE10 7 AP Simple 2–4
BE11* 8 AN Moderate 3–5
BE12* 9 K Simple 3–5
BE13* 9 K Simple 2–4
BE14* 9 K Simple 2–4
BE15* 9 K Simple 1–2
DI1 1, 2 K Simple 2–4
DI2 5 AN Simple 6–8
DI3 6 AN Simple 4–6
DI4 7 AN Moderate 20–30
EX1 1 C Simple 3–5
EX2 2 E Moderate 10–15
EX3 2 AP Simple 6–8
EX4 4 AN Simple 5–6
EX5 5, 6 AN Moderate 10–15
EX6 4–6 AN Moderate 10–12
EX7 5, 6 AN Moderate 8–10