TEST BANK For Intermediate Accounting, 8th Edition by David Spiceland, Mark Nelson, Complete Newest Version

TEST BANK For Intermediate Accounting, 11th Edition by David Spiceland

,TEST BANK For Intermediate Accounting, 11th Edition by David Spiceland



SOLUTION MANUAL FOR
Financial Accounting Fundamentals, 8th Edition By

John Wild
Chapter 1-13 with appendix B&C



Chapter 1


Accounting in Business
QUICK STUDIES

Quick Study 1-1 (10 minutes)

1. f Artificial Intelligence
2. c Recording
3. h Recordkeeping (bookkeeping)



Quick Study 1-2 (10 minutes)

a. External user g. External user
b. External user h. External user
c. External user i. Internal user
d. External user j. External user
e. Internal user k. External user
f. External user l. External user


3. Rationalization
Quick Study 1-3 (10 minutes)

1. Opportunity

2. Pressure

,TEST BANK For Intermediate Accounting, 11th Edition by David Spiceland


5. Pressure

6. Rationalization
4. Opportunity



Quick Study 1-4 (5 minutes)


1. Principle

2. Assumption
Quick Study 1-5 (10 minutes)
3. Assumption

4. Principle

Attribute Present Proprietorship Partnership Corporation LLC
1. Business taxed no no yes no
2. Limited liability no no yes yes
3. Legal entity no no yes yes




Quick Study 1-6 (10 minutes)

1. Revenue recognition principle
2. Measurement (cost) principle
3. Business entity assumption



Quick Study 1-7 (5 minutes)

Assets = Liabilities + Equity

$700,000 (a) $280,000 $420,000
$500,000 (b) $250,000 (b) $250,000




Quick Study 1-8 (10 minutes)

1.

Assets = Liabilities + Equity

, TEST BANK For Intermediate Accounting, 11th Edition by David Spiceland



$75,000 (a) $35,000 $40,000
(b) $95,000 $25,000 $70,000
$85,000 $20,000 (c) $65,000


2.
+ Common
Assets = Liabilities - Dividends + Revenues - Expenses
Stock

$40,000 $16,000 $20,000 $ 0 (a) $12,000 $ 8,000
$80,000 $32,000 $44,000 (b) $2,000 $24,000 $18,000



Quick Study 1-9 (5 minutes)

a. Increase

b. Decrease

c. Increase

d. Decrease




Quick Study 1-10 (15 minutes)

Assets = Liabilities + Equity
Accounts Accounts Common
Cash + = + - Dividends + Revenues - Expenses
Recble. Payable Stock

(a) $5,500 = $5,500
Consulting



(b) + $4,000 = + 4,000
Commission



Bal. 5,500 + 4,000 = + 9,500


(c) -1,400 = - $1,400
Wages



Bal. 4,100 + 4,000 = + 9,500 - 1,400


(d) +1,000 + - 1,000 = -


Bal. 5,100 + 3,000 = + 9,500 - 1,400


(e) -700 + = - 700
Cleaning