SOLUTION MANUAL - John Wild, Financial Accounting Fundamentals 8th Edition All Chapters 1 - 13, with Appendix (B & C) Complete Newest Version

SOLUTION MANUAL
Financial Accounting Fundamentals, 8th Edition
By John Wild, Chapter 1 - 13 with appendix B&C

,Chapter 1: Accounting in Business
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Chapter 2: Accounting for Business Transactions
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Chapter 3: Adjusting Accounts for Financial Statements
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Chapter 4: Accounting for Merchandising Operations
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Chapter 5: Inventories and Cost of Sales
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Chapter 6: Cash, Fraud, and Internal Control
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Chapter 7: Accounting for Receivables
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Chapter 8: Accounting for Long-Term Assets
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Chapter 9: Accounting for Current Liabilities
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Chapter 10: Accounting for Long-Term Liabilities
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Chapter 11: Corporate Reporting and Analysis
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Chapter 12: Reporting Cash Flows
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Chapter 13: Analysis of Financial Statements
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,Chapter 1 yc




Accounting in Business yc yc




QUICK STUDIES
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Quick Study 1-1 (10 minutes)
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1. f Artificial Intelligence yc




2. c Recording
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3. h Recordkeeping (bookkeeping)
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Quick Study 1-2 (10 minutes)
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a. External user yc g. External user
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b. External user yc h. External user
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c. External user yc i. Internal user
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d. External user yc j. External user
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e. Internal user yc k. External user
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f. External user yc l. External user
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Quick Study 1-3 (10 minutes)
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1. Opportunity 4. Opportunity
2. Pressure 5. Pressure
3. Rationalization 6. Rationalization


Quick Study 1-4 (5 minutes)
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, 1. Principle 3. Assumption
2. Assumption 4. Principle
Quick Study 1-5 (10 minutes)
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Attribute Present yc Proprietorship Partnership Corporation LLC
1. Business taxed yc no no yes no
2. Limited liability yc no no yes yes
3. Legal entity yc no no yes yes



Quick Study 1-6 (10 minutes)
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1. Revenue recognition principle
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2. Measurement (cost) principle yc yc




3. Business entity assumptionyc yc




Quick Study 1-7 (5 minutes)
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Assets = Liabilities + Equity
$700,000 (a) $280,000
y c $420,000
$500,000 (b) $250,000
y c (b) $250,000
y c




Quick Study 1-8 (10 minutes)
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1.
Assets = Liabilities + Equity
$75,000 (a) $35,000 y c $40,000
(b) $95,000
y c $25,000 $70,000
$85,000 $20,000 (c) $65,000
y c




2.
+ Common
y c

Assets = Liabilities Stock - Dividends
y c + Revenues
yc - Expenses
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$40,000 $16,000 $20,000 $ 0 (a) $12,000
yc $ 8,000
y c




$80,000 $32,000 $44,000 (b) $2,000
yc $24,000 $18,000