Solution Manual for Accounting Principles chapter 1-26th Canadian Edition Jerry J. Weygandt

CHAPTER 1
Accounting in Action

ASSIGNMENT CLASSIFICATION TABLE

Brief A B
Study Objectives Questions Exercises Do It! Exercises Problems Problems

1. Explain what 1, 2, 5 1, 2, 4 1
accounting is.


2. Identify the users and 3, 4 6 2
uses of accounting.

3. Understand why ethics 7 3
is a fundamental business
concept.

4. Explain generally accepted 6 8 4
accounting principles
and the cost principle.

5. Explain the monetary 7, 8, 9, 10 4
unit assumption and
the economic entity
assumption.

6. State the accounting 11, 12, 13, 1, 2, 3, 4, 5 5, 6, 7, 11 1A, 2A 1B, 2B
equation, and define 22 4A 4B
its components.

7. Analyze the effects of 14, 15, 16, 6, 7, 8, 9 6, 7, 8, 1A, 2A, 1B, 2B,
business transactions on 18 10, 11 4A, 5A 4B, 5B
the accounting equation.

8. Understand the four 17, 19, 20, 10, 11 9, 12, 13, 2A, 3A, 2B, 3B,
financial statements 21 14, 15, 16 4A, 5A 4B, 5B
and how they are
prepared.




Copyright © 2009 John Wiley & Sons, Inc. Weygandt, Accounting Principles, 9/e, Solutions Manual (For Instructor Use Only) 1-1

,ASSIGNMENT CHARACTERISTICS TABLE

Problem Difficulty Time Allotted
Number Description Level (min.)

1A Analyze transactions and compute net income. Moderate 40–50

2A Analyze transactions and prepare income statement, Moderate 50–60
owner’s equity statement, and balance sheet.

3A Prepare income statement, owner’s equity statement, and Moderate 50–60
balance sheet.

4A Analyze transactions and prepare financial statements. Moderate 40–50

5A Determine financial statement amounts and prepare Moderate 40–50
owner’s equity statement.

1B Analyze transactions and compute net income. Moderate 40–50

2B Analyze transactions and prepare income statement, Moderate 50–60
owner’s equity statement, and balance sheet.

3B Prepare income statement, owner’s equity statement, and Moderate 50–60
balance sheet.

4B Analyze transactions and prepare financial statements. Moderate 40–50

5B Determine financial statement amounts and prepare Moderate 40–50
owner’s equity statement.




1-2 Copyright © 2009 John Wiley & Sons, Inc. Weygandt, Accounting Principles, 9/e, Solutions Manual (For Instructor Use Only)

, WEYGANDT ACCOUNTING PRINCIPLES 9E
CHAPTER 1
ACCOUNTING IN ACTION

Number SO BT Difficulty Time (min.)
BE1 6 AP Simple 2–4
BE2 6 AP Simple 3–5
BE3 6 AP Moderate 4–6
BE4 6 AP Moderate 4–6
BE5 6 C Simple 2–4
BE6 7 C Simple 2–4
BE7 7 C Simple 2–4
BE8 7 C Simple 2–4
BE9 7 C Simple 1–2
BE10 8 AP Simple 3–5
BE11 8 C Simple 2–4
DI1 1, 2, 4 K Simple 2–4
DI2 6 K Simple 2–4
DI3 7 AP Simple 6–8
DI4 8 AP Moderate 8–10
EX1 1 C Moderate 5–7
EX2 2 C Simple 6–8
EX3 3 C Moderate 6–8
EX4 4, 5 C Moderate 6–8
EX5 6 C Simple 4–6
EX6 6, 7 C Simple 6–8
EX7 6, 7 C Simple 4–6
EX8 7 AP Moderate 12–15
EX9 8 AP Simple 12–15
EX10 7 AP Moderate 8–10
EX11 6, 7 AP Moderate 6–8
EX12 8 AP Simple 8–10
EX13 8 AN Simple 8–10
EX14 8 AP Simple 10–12
EX15 8 AP Simple 6–8
EX16 8 AP Moderate 6–8




Copyright © 2009 John Wiley & Sons, Inc. Weygandt, Accounting Principles, 9/e, Solutions Manual (For Instructor Use Only) 1-3

, ACCOUNTING IN ACTION (Continued)


Number SO BT Difficulty Time (min.)
P1A 6, 7 AP Moderate 40–50
P2A 6–8 AP Moderate 50–60
P3A 8 AP Moderate 50–60
P4A 6–8 AP Moderate 40–50
P5A 7, 8 AP Moderate 40–50
P1B 6, 7 AP Moderate 40–50
P2B 6–8 AP Moderate 50–60
P3B 8 AP Moderate 50–60
P4B 6–8 AP Moderate 40–50
P5B 7, 8 AP Moderate 40–50
BYP1 8 AN Simple 10–15
BYP2 8 AN, E Simple 10–15
BYP3 9 C, AN Simple 15–20
BYP4 8 E Moderate 15–20
BYP5 8 E Simple 12–15
BYP6 3 E Simple 10–12
BYP7 3 E Moderate 15–20




1-4 Copyright © 2009 John Wiley & Sons, Inc. Weygandt, Accounting Principles, 9/e, Solutions Manual (For Instructor Use Only)