Accounting Principles 12th Edition Solution Manual | Weygandt, Kimmel & Kieso | Chapter 1 Answers

Solutions Manual Acc̣ ounting
c̣ Principles
̣ 12th Edition
c c c c c




Weygandt Kimmel Kieso c c c



CHAPTER 1 c c




Acc̣ ounting
̣ cin cAction
̣ c




ASSIGNMENT CLASSIFICATION TABLE c c c




Brief c Ac
Learning cObjectives
̣ Questions c Exercises
̣ Do cIt! Exercises
̣ Problems

1. c Identify cthe cac ̣tivities cand c 1, c2, c3, c4, c5 c 1 1, c2
users cassoc ̣iated
cwith c

ac ̣c ̣ounting.

2. c Explain cthe cbuilding cbloc ̣ks cof 6, c7, c8, c9, c10 c 2 3, c4
ac ̣c ̣ounting: cethic
c ̣s,
cprinc ̣iples, c

and cassumptions.

3. c State cthe cac ̣c ̣ounting c 11, c12, c13, c22 c 1, c2, c3, c4, c5, 3, c5 5 1A, c2A c4A
equation, cand cdefine c8

cits c

c ̣omponents.

4. c Analyze cthe ceffec ̣ts cof c 14, c15, c16, c18 c 6, c7, c9 4 6, c7, c8 1A, c2A, c4A, c
business ctransac ̣tions con cthe c 5A
ac ̣c ̣ounting cequation.

5. c Desc ̣ribe cthe cfour cfinanc ̣ial c 17, c19, c20, c21 c 10, c11 5 9, c10, c11, c12, 2A, c3A, c4A, c
statements cand chow cthey care c13, c14, c15, 5A
prepared. c c16




Weygandt, cAc ̣c ̣ounting cPrinc ̣iples, c12/e, cSolutions cManual c c c(For cInstruc ̣tor cUse cOnly) 1-1 c

,ASSIGNMENT CHARACTERISTICS TABLE
c c c




Problem c Difficulty
̣ c Time cAllotted c
Number Description
̣ Level (min.)

1A Analyze ctransac ̣tions cand cc ̣ompute cnet cinc ̣ome. Moderate 40–50

2A Analyze ctransac ̣tions cand cprepare cinc ̣ome cstatement, c Moderate 50–60
owner’s cequity cstatement, cand cbalanc ̣e csheet.

3A Prepare cinc ̣ome cstatement, cowner’s cequity cstatement, Moderate 50–60
cbalanc
and c ̣e csheet.

4A Analyze ctransac ̣tions cand cprepare cfinanc ̣ial cstatements. Moderate 40–50

5A Determine cfinanc ̣ial cstatement camounts cand cprepare c Moderate 40–50
owner’s cequity cstatement.




1-2 c Copyright c© c2015 cJohn cWiley c& cSons, cInc ̣. c c cWeygandt, cAc ̣c ̣ounting cPrinc ̣iples, c12/e, cSolutions cManual c c c c(For
cInstruc ̣tor cUse cOnly)

, WEYGANDT ACCOUNTING PRINCIPLES 12E
c c c


CHAPTER 1 c c c


ACCOUNTING IN ACTION c c c




Number LO BT Difficulty
̣ Time c(min.)
BE1 3 AP Simple 2–4
BE2 3 AP Simple 3–5
BE3 3 AP Moderate 4–6
BE4 3 AP Moderate 4–6
BE5 3 C Simple 2–4
BE6 4 C Simple 2–4
BE7 4 C Simple 2–4
BE8 3 C Simple 2–4
BE9 4 C Simple 1–2
BE10 5 AP Simple 3–5
BE11 5 C Simple 2–4
DI1 1 K Simple 2–4
DI2 2 K Simple 2–4
DI3 3 AP Simple 6–8
DI4 4 AP Moderate 8–10
DI5 y 3, 5 y y AP y Moderate y 10–12 y




EX1 1 C Moderate 5–7
EX2 1 C Simple 6–8
EX3 2 C Moderate 6–8
EX4 2 C Moderate 6–8
EX5 3 C Simple 4–6
EX6 4 C Simple 6–8
EX7 4 C Simple 4–6
EX8 4 AP Moderate 12–15
EX9 5 AP Simple 12–15
EX10 5 AP Moderate 8–10
EX11 5 AP Moderate 6–8
EX12 5 AP Simple 8–10
EX13 5 AN Simple 8–10
EX14 5 AP Simple 10–12
EX15 5 AP Simple 6–8
EX16 5 AP Moderate 6–8 y




Weygandt, Ac ̣c ̣ounting Princ̣ iples, 12/e, Solutions Manual
y y y y y yyy (For Instruc̣ tor Use Only)
y y y 1-3
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, ACCOUNTING IN ACTION (Continued) y y y y




Number LO BT Difficulty
̣ Time (min.)
y




P1A 3, 4
y AP Moderate 40–50
P2A 3–5 AP Moderate 50–60
P3A 5 AP Moderate 50–60
P4A 3–5 AP Moderate 40–50
P5A 4, 5
y AP Moderate 40–50
BYP1 5 AN Simple 10–15
BYP2 5 AN, E y Simple 10–15
BYP3 y 5 y AN, E y y Simple y 10–15 y




BYP4 6 C, AN
y Simple 15–20
BYP5 4 E Moderate 15–20
BYP6 5 E Simple 12–15
BYP7 2 E Simple 10–12
BYP8 y 2 y E y Moderate y 15–20 y




BYP9 y – y AP y Moderate y 15–20 y




BYP10 – C Simple y 10–15 y




1-4
y Copyright © 2015 John Wiley & Sons, Inc̣ .
y y y y y y y yyy Weygandt, Ac ̣c ̣ounting Princ̣ iples, 12/e, Solutions Manual (For Instr
y y y y y yyyy y



uc̣ tor Use Only)
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