Solution Manual for Accounting Principles Volume 1 And Volume 2 9th Canadian Edition Jerry J. Weygandt

Weygandt,bKieso,bKimmel,bTrenholm,bWarren,bNovak AccountingbPrinciples,bNinthbCanadianbEdition




CHAPTER 1 b




Accounting in Action b b




Learning Objectives
b



1. Identify the use and users of accounting and the objective offi
b b b b b b b b b b b


nancial reporting.
b


2. Compare the different forms of business organization.
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3. Explain the building blocks of accounting: ethics and thec
b b b b b b b b b


oncepts included in the conceptual framework.
b b b b b


4. Describe the components of the financial statements ande
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xplain the accounting equation.
b b b


5. Analyze the effects of business transactions on thea
b b b b b b b b


ccounting equation. b


6. Prepare financial statements.
b b




SolutionsbManual 1.1 Chapterb1
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, Weygandt,bKieso,bKimmel,bTrenholm,bWarren,bNovak AccountingbPrinciples,bNinthbCanadianbEdition




Summary of Questions by Learning Objectives and Bloom‘s Taxonomy
b b b b b b b b




Item LO BT Item LO
b BT Item LO b BT Item LO b BT Item LO BT b


Questions
1. 1 C b 5. 3 C b 9. 3 C b 13. 4 Kb 17. 5 Cb


2. 1 C b 6. 3 K
b 10. 3 C b 14. 4 Kb 18. 5 AP b


3. 1 C 7. 3 K 11. 3 C 15. 4 C 19. 6 K
4. 2 K 8. 3 C 12. 4 K 16. 4 K 20. 6 C
Brief Exercises
b


1. 1 K b 5. 3 C b 9. 4 AP b 13. 5 AP 17.
b 6 AP b


2. 2 C b 6. 3 C b 10. 4 AP b 14. 4,5 AP 18.
b 6 AP
3. 3 AN 7. 4 C 11. 4 K 15. 4,6 AP
4. 3 C 8. 4 AP 12. 5 AP 16. 6 AP
Exercises
1. 1 C b 5. 1,3,5 K b 9. 3,5,6 C b 13. 4,5 AP 17.
b 6 AP
2. 1 C b 6. 4 AP b 10. 5 C b 14. 6 AP b


3. 2 C 7. 4 AP 11. 5 C 15. 6 AP
4. 3 C 8. 5 C 12. 4,5 AP 16. 6 AP
Problems
1. 1 S 4. 4 AP 7. 3,4,5,6 AP 10. 6 AN
2. 2,3 AP
b b 5. 3,5 C 8. 4,5,6 AP 11. 3,4,5,6 AP
b b


3. 4 AP 6. 4,6 AP 9. 6 AP




SolutionsbManual 1.2 Chapterb1
©b2022bJohnbWileyb&bSonsbCanada,bLtd.bUnauthorizedbcopying,bdistribution,borbtransmissionbofbthisbpagebisbprohibite
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,Weygandt,bKieso,bKimmel,bTrenholm,bWarren,bNovak AccountingbPrinciples,bNinthbCanadianbEdition




Legend: The following abbreviations will appear throughout thesoluti
b b b b b b b b


ons manual file.
b b




LO Learning objective b


Bloom's
BT Taxonomy
K Knowledge
C Comprehension
AP Application
AN Analysis
S Synthesis
E Evaluation
Difficulty: Level of difficulty
b b


S Simple
M Moderate
C Complex
Time: Estimated time to complete in minutes
b b b b b


AACSB Association to Advance Collegiate Schools of Business
b b b b b b b


Communication Communication
Ethics Ethics
Analytic Analytic
Tech. Technology
Diversity Diversity
Reflec. Thinkingb Reflective Thinking b


CPA CM b CPA Canada Competency Map
b b b


Ethics Professional and Ethical Behaviour b b b


PS and DM
b Problem-Solving and Decision-Making
b b b


Comm. Communication
Self-Mgt. Self-Management
Team & Lead b Teamwork and Leadership
b b b


Reporting Financial Reporting b


Stat. & Gov.
b b Strategy and Governance b b


Mgt. Accounting
b Management Accounting b


Audit Audit and Assurance b b


Finance Finance
Tax Taxation



SolutionsbManual 1.3 Chapterb1
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, Weygandt,bKieso,bKimmel,bTrenholm,bWarren,bNovak AccountingbPrinciples,bNinthbCanadianbEdition




ASSIGNMENT CLASSIFICATION TABLE
b b




Brief Problems Problems
LearningbObjectives Questions Exercises Exercises SetbA SetbB

1.bIdentifybthebusebandb 1,b2,b3 1 1,b2,b5 1 1
usersbofbaccountingb
andbthebobjectivebofb
financialbreporting.

2.bComparebthebdifferentb 4 2 3, 2 2
formsbofbbusinessborg
anization.

3.bExplainbthebbuildingbb 5,b6,b7,b8, 3,b4,b5,b6 3,b4,b5,b9, 2,b5,b7, 2,b5,b7,b11
locksbofbaccounting:be 9,b10,b11 10 11
thicsbandbthebconcept
sbincludedbinbthebcon
ceptual
framework.
4.bDescribebthebcompon 12,b13,b14. 7,b8,b9, 6,b7,b13 3,b4,b6,b7, 3,b4,b6,b7,
entsbofbthebfinancialb 15,b16 10,b11,b15 8,b11 8,b11
statementsbandbexpl
ainbthebaccountingbe
quation.
5.bAnalyzebthebeffectsbofb 17,b18 12,b13,b14 5,b8,b9, 5,b7,b8, 6,b7,b8,b9,
businessbtransactionsb 10,b11, 11 10,b11
onbthebaccountingbeq 12,b13
uation.

6.bPreparebfinancialb 19,b20 14,b15,b16 9,b14,b15, 6,b7,b8,b9, 2,b5,b7,b11
statements. 17,b18 16,b17 10,b11




SolutionsbManual 1.4 Chapterb1
©b2022bJohnbWileyb&bSonsbCanada,bLtd.bUnauthorizedbcopying,bdistribution,borbtransmissionbofbthisbpagebisbprohibite
d.