SOLUTION MANUAL For Financial Accounting Fundamentals, 8th Edition By John Wild, Verified Chapters 1 - 13, Complete Newest Version

,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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,Chapter1 cz




Accounting in Business cz cz




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




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 cz g. External usercz




b. External user cz h. External usercz




c. External user cz i. Internal user
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d. External user cz j. External usercz




e. Internal user cz k. External usercz




f. External user cz l. External usercz




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




3. Business entity assumptioncz cz




Quick Study 1-7 (5 minutes)
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Assets = Liabilities + Equity
$700,000 (a) $280,000
c z $420,000
$500,000 (b) $250,000
c z (b) $250,000
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Quick Study 1-8 (10 minutes)
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1.
Assets = Liabilities + Equity
$75,000 (a) $35,000 c z $40,000
(b) $95,000
c z $25,000 $70,000
$85,000 $20,000 (c) $65,000 c z




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




$40,000 $16,000 $20,000 $ 0 (a) $12,000
cz $ 8,000
c z




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