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WILEY
, Intermediate Accounting
I Twelfth Canadian Edition I
DONALD E. KIESO, Ph.D., CPA IRENE M. WIECEK, FCPA, FCA
KPMG Peat Marwick Emeritus Professor of Accounting, Teaching Stream
Professor of Accounting University of Toronto
Northern Illinois University Toronto, Ontario
DeKalb, Illinois
BRUCE J. McCONOMY,
JERRY J. WEYGANDT, Ph.D., CPA Ph.D., CPA, CA
Arthur Andersen Alumni Professor Professor and KPMG Foundation Fellow
of Accounting in Accounting
University of Wisconsin Wilfrid Laurier University
Madison, Wisconsin Waterloo, Ontario
TERRY D. WARFIELD, Ph.D.
PwC Professor in Accounting
University of Wisconsin
Madison, Wisconsin
WILEY
, VICE PRESIDENT, EDUCATION Tim Stookesberry
DIRECTOR, BUSINESS, ACCOUNTING, AND FINANCE Michael McDonald
SENIOR EDITOR Emily Marcoux
EDITORIAL ASSISTANT Kirsten Loose
ASSOCIATE PRODUCT DESIGNER Daleara Hirjikaka
PRODUCT DESIGN MANAGER Karen Staudinger
SENIOR MARKETING MANAGER Anita Osborne
SENIOR CONTENT MANAGER Dorothy Sinclair
PRODUCTION EDITOR Rachel Conrad
DESIGN Wiley
COVER DESIGN Joanna Vieira/Wiley
COVER PHOTOGRAPHS © Vadim Petrov/123RF
This book was set in 9.5/ 12 STIX Two Text by Aptara, Inc. Printed and bound by Quad/ Graphics.
This book is printed on acid-free paper. oo
Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for
more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our
company is built on a foundation of principles that include responsibility to the communities we serve and
where we live and work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address
the environmental, social, economic, and ethical challenges we face in our business. Among the issues
we are addressing are carbon impact, paper specifications and procurement, ethical conduct within our
business and among our vendors, and community and charitable support. For more information, please
visit our website: www.wiley.com/go/citizenship.
Copyright © 2019 John Wiley & Sons Canada, Ltd.
All rights reserved. No part of this work covered by the copyrights herein may be reproduced, transmit-
ted, or used in any form or by any means-graphic, electronic, or mechanical-without the prior written
permission of the publisher.
Any request for photocopying, recording, taping, or inclusion in information storage and retrieval
systems of any part of this book shall be directed to The Canadian Copyright Licensing Agency (Access
Copyright). For an Access Copyright Licence, visit www.accesscopyright.ca or call toll-free, 1-800-893-5777.
Care has been taken to trace ownership of copyright material contained in this text. The publishers will
gladly receive any information that will enable them to rectify any erroneous reference or credit line in
subsequent editions.
Evaluation copies are provided to qualified academics and professionals for review purposes only, for
use in their courses during the next academic year. These copies are licensed and may not be sold or
transferred to a third party. Upon completion of the review period, please return the evaluation copy to
Wiley. Return instructions and a free-of-charge return shipping label are available at www.wiley.com/
go/ returnlabel. If you have chosen to adopt this textbook for use in your course, please accept this book
as your complimentary desk copy. Outside of the United States, please contact your local representative.
ISBN 978-1-119-49633-5 (E-Pub); 978-1-119-49649-6 (LLPC)
The inside back cover will contain printing identification and country of origin if omitted from this page.
In addition, if the ISBN on the cover differs from the ISBN on this page, the one on the cover is correct.
References to the CPA Canada Handbook-Accounting are reprinted (or adapted) with permission from
Chartered Professional Accountants of Canada. All rights reserved by the copyright owner.
Questions adapted from the Uniform Final Evaluation and the Financial Accounting: Assets (FA2)
Exams or Financial Accounting: Liabilities & Equities (FA3) Exams are reproduced with permission from
CPA Canada, Toronto, Canada. Any changes to the original material are the sole responsibility of the
author (and/or publisher) and have not been reviewed or endorsed by CPA Canada.
This publication and course contains copyright material of the IFRS"' Foundation in respect of which all
rights are reserved. Reproduced by John Wiley & Sons Canada, Limited with the permission of the IFRS
Foundation. No permission granted to third parties to reproduce or distribute. For full access to IFRS
Standards and the work of the IFRS Foundation please visit http: //eifrs.ifrs.org
The International Accounting Standards Board, the IFRS Foundation, the authors and the publishers do
not accept responsibility for any loss caused by acting or refraining from acting in reliance on the material
in this publication, whether such loss is caused by negligence or otherwise.
Printed in the United States of America
V10015445_110719
,ileyPLUS
-
eTextbook
Modules
Grades
Recent Announcements
:: • Welcome to your Wiley Course
View Progress
• +
+ Module
When course materials are presented in an organ ized way, yo u are
more li kely to stay focu sed, develop mastery, and participate in
Discussions <f' What's Inside 0
Conferences
class. Wi leyPLU S provides yo u a clear path through the course
J> looking for Help and Tips? 0
Collaborations materia l.
WileyPLUS Sup- <J> How to Succeed in This Course 0
port
<f> Guidelines for Instructors
Sta rting with Wi ley's quality curated content and adaptive pract ice
Assignment Zero - Introduction to
questions, yo u ca n quickly access materia l most relevant to yo ur
~ WileyPLUS
Opb
course and understand topics that are most challenging to yo u.
Thi s easy-to-use, intuitive interface saves you t ime, helps yo u stay
g ... Ch 0: Accounting Cyde Review
• + on t ra ck, and keeps you motivated t hroughout your cou rse.
Attendance
I; t.f 0.1 Analyze Business Transactions 0
t Customized
Content [EJ Interactive
eTextbook
~ I Adaptive Practice
~ _; Questions
Your cou rse has been You ca n easily search Qui ckly identify areas
customized wit h videos, conten t, highl ight an d ta ke that are most challenging
docu ments, pages, and notes, access instructor's for you and then focus
releva nt links to keep you notes and highlights, and on mate ria l most
motivated. read offlin e. releva nt to your needs.
Calendar
~
Linear Design
and Organization The cou rse ca lendar syncs
D•
DD StudentApp
Cou rse mod ules organized with other features-like You can view due dates,
by lea rning objective assignments and syll ab us submit assignments, read
include eTextbook content, -so any upd ates from materi al, and
vid eos, an imations, your instructor will com mu nicate with your
int eractives, and practice immed iately appea r. instructor all from you r
questions. phone.
Wileyplus.com/student-register
WILEY
, Intermediate Accounting
I Twelfth Canadian Edition I
DONALD E. KIESO, Ph.D., CPA IRENE M. WIECEK, FCPA, FCA
KPMG Peat Marwick Emeritus Professor of Accounting, Teaching Stream
Professor of Accounting University of Toronto
Northern Illinois University Toronto, Ontario
DeKalb, Illinois
BRUCE J. McCONOMY,
JERRY J. WEYGANDT, Ph.D., CPA Ph.D., CPA, CA
Arthur Andersen Alumni Professor Professor and KPMG Foundation Fellow
of Accounting in Accounting
University of Wisconsin Wilfrid Laurier University
Madison, Wisconsin Waterloo, Ontario
TERRY D. WARFIELD, Ph.D.
PwC Professor in Accounting
University of Wisconsin
Madison, Wisconsin
WILEY
, VICE PRESIDENT, EDUCATION Tim Stookesberry
DIRECTOR, BUSINESS, ACCOUNTING, AND FINANCE Michael McDonald
SENIOR EDITOR Emily Marcoux
EDITORIAL ASSISTANT Kirsten Loose
ASSOCIATE PRODUCT DESIGNER Daleara Hirjikaka
PRODUCT DESIGN MANAGER Karen Staudinger
SENIOR MARKETING MANAGER Anita Osborne
SENIOR CONTENT MANAGER Dorothy Sinclair
PRODUCTION EDITOR Rachel Conrad
DESIGN Wiley
COVER DESIGN Joanna Vieira/Wiley
COVER PHOTOGRAPHS © Vadim Petrov/123RF
This book was set in 9.5/ 12 STIX Two Text by Aptara, Inc. Printed and bound by Quad/ Graphics.
This book is printed on acid-free paper. oo
Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for
more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our
company is built on a foundation of principles that include responsibility to the communities we serve and
where we live and work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address
the environmental, social, economic, and ethical challenges we face in our business. Among the issues
we are addressing are carbon impact, paper specifications and procurement, ethical conduct within our
business and among our vendors, and community and charitable support. For more information, please
visit our website: www.wiley.com/go/citizenship.
Copyright © 2019 John Wiley & Sons Canada, Ltd.
All rights reserved. No part of this work covered by the copyrights herein may be reproduced, transmit-
ted, or used in any form or by any means-graphic, electronic, or mechanical-without the prior written
permission of the publisher.
Any request for photocopying, recording, taping, or inclusion in information storage and retrieval
systems of any part of this book shall be directed to The Canadian Copyright Licensing Agency (Access
Copyright). For an Access Copyright Licence, visit www.accesscopyright.ca or call toll-free, 1-800-893-5777.
Care has been taken to trace ownership of copyright material contained in this text. The publishers will
gladly receive any information that will enable them to rectify any erroneous reference or credit line in
subsequent editions.
Evaluation copies are provided to qualified academics and professionals for review purposes only, for
use in their courses during the next academic year. These copies are licensed and may not be sold or
transferred to a third party. Upon completion of the review period, please return the evaluation copy to
Wiley. Return instructions and a free-of-charge return shipping label are available at www.wiley.com/
go/ returnlabel. If you have chosen to adopt this textbook for use in your course, please accept this book
as your complimentary desk copy. Outside of the United States, please contact your local representative.
ISBN 978-1-119-49633-5 (E-Pub); 978-1-119-49649-6 (LLPC)
The inside back cover will contain printing identification and country of origin if omitted from this page.
In addition, if the ISBN on the cover differs from the ISBN on this page, the one on the cover is correct.
References to the CPA Canada Handbook-Accounting are reprinted (or adapted) with permission from
Chartered Professional Accountants of Canada. All rights reserved by the copyright owner.
Questions adapted from the Uniform Final Evaluation and the Financial Accounting: Assets (FA2)
Exams or Financial Accounting: Liabilities & Equities (FA3) Exams are reproduced with permission from
CPA Canada, Toronto, Canada. Any changes to the original material are the sole responsibility of the
author (and/or publisher) and have not been reviewed or endorsed by CPA Canada.
This publication and course contains copyright material of the IFRS"' Foundation in respect of which all
rights are reserved. Reproduced by John Wiley & Sons Canada, Limited with the permission of the IFRS
Foundation. No permission granted to third parties to reproduce or distribute. For full access to IFRS
Standards and the work of the IFRS Foundation please visit http: //eifrs.ifrs.org
The International Accounting Standards Board, the IFRS Foundation, the authors and the publishers do
not accept responsibility for any loss caused by acting or refraining from acting in reliance on the material
in this publication, whether such loss is caused by negligence or otherwise.
Printed in the United States of America
V10015445_110719
