Solutions manual for accounting principles 8th canadian edition volume 1 jerry weygandt donald kieso paul kimmel barbara...

Solutions Manual For Accounting Principles 8th Canadian Edition(
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Volume 1) Jerry Weygandt, Donald Kieso, Paul Kimmel, Barbara Tr
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enholm, Valerie Warren, Lori Novak h h h h




CHAPTER 1 h




Accounting in Action h h




Learning Objectives
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1. Identify the use and users of accounting and the objective offi
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nancial reporting.
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2. Compare the different forms of business organization.
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3. Explain the building blocks of accounting: ethics and thec
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oncepts included in the conceptual framework.
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4. Describe the components of the financial statements ande
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xplain the accounting equation.
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5. Analyze the effects of business transactions on thea
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ccounting equation. h


6. Prepare financial statements.
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SolutionshManual 1.1 Chapterh1
.

, Weygandt,hKieso,hKimmel,hTrenholm,hWarren,hNovak AccountinghPrinciples,hEighthhCanadianhEdition




Summary of Questions by Learning Objectives and Bloom’s Taxonomy
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Item LO BT Item LO
h BT Item LO h BT Item LO BT h Item LO BT
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Questions
1. 1 C 5. 3 C h 9. 3 C 13. 4 K h 17. 5 C h
h h
2. 1 6. 3 K 10.
h 3 14. 4 K h 18. 5 AP h
C C
3. 1 h 7. 3 K 11. 3 15. 4 hC 19. 6 K
4. 2 C 8. 3 C 12. 4 C 16. 4 K 20. 6 C
K K
Brief Exercises
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1. 1 K h 5. 3 C h 9. 4 AP 13. 5 AP 17. 6 AP h


2. 2 C h 6. 3 C 10.
h 4 A 14. 4,5 A
h h 18. 6 AP
3. 3 AN 7. 4 C 11. 4 P 15. 4,6 P h h


4. 3 C 8. 4 AP 12. 5 K 16. 6 AP
AP AP
Exercises
1. 1 C 5. 1,3,5 K h 9. 3,5,6 C 13. 4,5 AP 17. 6 AP
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2. 1 C 6. 4 AP 10. 5 C 14. 6 A h


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


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




SolutionshManual 1.2 Chapterh1
.

,Weygandt,hKieso,hKimmel,hTrenholm,hWarren,hNovak AccountinghPrinciples,hEighthhCanadianhEdition




Legend: The following abbreviations will appear throughout thes
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olutions manual file.
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LO Learning objective h


Bloom's
BT Taxonomy
K Knowledge
C Comprehension
AP Application
AN Analysis
S Synthesis
E Evaluation
Difficulty: Level of difficulty
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S Simple
M Moderate
C Complex
Time: Estimated time to complete in minutes
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AACSB Association to Advance Collegiate Schools of Business
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Communication Communication
Ethics Ethics
Analytic Analytic
Tech. Technology
Diversity Diversity
Reflec. Thinking Reflective Thinking
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CPA CMh CPA Canada Competency Map
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Ethics Professional and Ethical Behaviour h h h


PS and DM
h Problem-Solving and Decision-Making
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Comm. Communication
Self-Mgt. Self-Management
Team & Lead h Teamwork and Leadership
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Reporting Financial Reporting h


Stat. & Gov.h Strategy and Governance
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Mgt. Accounting
h Management Accounting h


Audit Audit and Assurance h h


Finance Finance
Tax Taxation



SolutionshManual 1.3 Chapterh1
.

, Weygandt,hKieso,hKimmel,hTrenholm,hWarren,hNovak AccountinghPrinciples,hEighthhCanadianhEdition




ASSIGNMENT CLASSIFICATION TABLE
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BriefhE Problemsh Problemsh
LearninghObjectives Questions xercises Exercises SethA SethB

1.hIdentifyhthehusehandh 1,h2,h3 1 1,h2,h5 1 1
usershofhaccountingh
andhthehobjectivehofh
financialhreporting.

2.hComparehthehdifferenth 4 2 3, 2 2
formshofhbusinesshorg
anization.

3.hExplainhthehbuilding 5,h6,h7,h8, 3,h4,h5,h6 4,h5,h9,h10 2,h5,h7, 2,h5,h7,h11
blockshofhaccounting: 9,h10,h11 11
ethicshandhthe
conceptshincludedhin
thehconceptual
framework.
4.hDescribehthe 12,h13,h14. 7,h8,h9, 6,h7,h13 3,h4,h6,h7, 3,h4,h6,h7,
componentshofhthe 15,h16 10,h11,h15 8,h11 8,h11
financialhstatements
andhexplainhthe
accountinghequation.
5.hAnalyzehtheheffectshof 17,h18 12,h13,h14 5,h8,h9, 5,h7,h8, 6,h7,h8,h9,
businesshtransactions 10,h11, 11 10,h11
onhthehaccounting 12,h13
equation.

6.hPreparehfinancial 19,h20 14,h15,h16 9,h14,h15, 6,h7,h8,h9, 2,h5,h7,h11
statements. 17,h18 16,h17 10,h11




SolutionshManual 1.4 Chapterh1
.