Solutions for Fundamental Accounting Principles Volume 1, 17th Canadian Edition by Larson

COMPLETE
SOLUTIONS MANUAL

Fundamental Accounting Principles
th
17 Canadian Edition Vol 1
by Larson/Dieckmann/Harris




Solutions Manual to accompany Fundamental Accounting Principles, 17th Canadian Edition. © 2022 AI-1

, Appendix I Payroll Liabilities

Appendix Critical Thinking Challenge Questions*

If payroll liabilities are not recorded, what is the effect on the financial statements?
- If payroll liabilities are not recorded, expenses on the income statement will be
understated causing profit to be overstated. On the balance sheet, unrecorded payroll
liabilities will cause liabilities to be understated and equity to be overstated.




Solutions Manual to accompany Fundamental Accounting Principles, 17th Canadian Edition. © 2022 AI-2