SOLUTIONMANUAL f f
FinancialAccountingFundamentals,8thEdition
f f f f
ByJohnWild,Chapter1-13withappendixB&C
f f f f f f f f f f
,Chapter 1: Accounting in Business
f f f f
Chapter2:AccountingforBusinessTransactions Chapter3:
f f f f f f f
AdjustingAccountsforFinancialStatements Chapter 4:
f f f f f f f
Accounting for Merchandising Operations Chapter 5:
f f f f f f
Inventories and Cost of Sales
f f f f f
Chapter6:Cash,Fraud,andInternalControl
f f f f f f
Chapter 7: Accounting for Receivables Chapter
f f f f f f
8:AccountingforLong-TermAssets Chapter9:
f f f f f f f
Accounting forCurrentLiabilities
f f f f
Chapter10:AccountingforLong-TermLiabilities
f f f f f
Chapter 11: Corporate Reporting and Analysis Chapter
f f f f f f f
12: Reporting Cash Flows
f f f f
Chapter 13: Analysis of Financial Statements
f f f f f
,Chapter1 f
Accounting in Business f f
QUICK STUDIES
f
Quick Study 1-1 (10 minutes)
f f f f
1. f Artificial Intelligence f
2. c Recording
3. h Recordkeeping (bookkeeping) f
Quick Study 1-2 (10 minutes)
f f f f
a. External user f g. External user
f
b. External user f h. External user
f
c. External user f i. Internal user
f
d. External user f j. External user
f
e. Internal userf k. External user
f
f. External user f l. External user
f
Quick Study 1-3 (10
f f f
minutes)
4. Opportunity
f
1. Opportunity 5. Pressure
2. Pressure 6. Rationalization
3. Rationalization
Quick Study 1-4 (5 minutes)
f f f f
, 1. Principle 3. Assumption
2. Assumption 4. Principle
Quick Study 1-5 (10
f f f
fminutes)
AttributeuPresent Proprietorship Partnership Corporation LLC
1. Business taxed f no no yes no
2. Limited liability f no no yes yes
3. Legal entity
f no no yes yes
Quick Study 1-6 (10 minutes)
f f f f
1. Revenue recognition principle
f f
2. Measurement (cost) principle f f
3. Business entity assumption
f f
Quick Study 1-7 (5 minutes)
f f f f
Assets = Liabilities + Equity
$700,000 (a) $280,000 $420,000
$500,000 (b) $250,000 (b) $250,000
Quick Study 1-8 (10 minutes)
f f f f
1.
Assets = Liabilities + Equity
$75,000 (a) $35,000 $40,000
(b) $95,000 $25,000 $70,000
$85,000 $20,000 (c) $65,000
2.
+ u Common
Assets = Liabilities - Dividends +uRevenues -uExpenses
f f
u
Stock
f
f f f f
$40,000 $16,000 $20,000 $ 0 (a) $12,000
f $ 8,000
$80,000 $32,000 $44,000 (b) $2,000
f $24,000 $18,000
FinancialAccountingFundamentals,8thEdition
f f f f
ByJohnWild,Chapter1-13withappendixB&C
f f f f f f f f f f
,Chapter 1: Accounting in Business
f f f f
Chapter2:AccountingforBusinessTransactions Chapter3:
f f f f f f f
AdjustingAccountsforFinancialStatements Chapter 4:
f f f f f f f
Accounting for Merchandising Operations Chapter 5:
f f f f f f
Inventories and Cost of Sales
f f f f f
Chapter6:Cash,Fraud,andInternalControl
f f f f f f
Chapter 7: Accounting for Receivables Chapter
f f f f f f
8:AccountingforLong-TermAssets Chapter9:
f f f f f f f
Accounting forCurrentLiabilities
f f f f
Chapter10:AccountingforLong-TermLiabilities
f f f f f
Chapter 11: Corporate Reporting and Analysis Chapter
f f f f f f f
12: Reporting Cash Flows
f f f f
Chapter 13: Analysis of Financial Statements
f f f f f
,Chapter1 f
Accounting in Business f f
QUICK STUDIES
f
Quick Study 1-1 (10 minutes)
f f f f
1. f Artificial Intelligence f
2. c Recording
3. h Recordkeeping (bookkeeping) f
Quick Study 1-2 (10 minutes)
f f f f
a. External user f g. External user
f
b. External user f h. External user
f
c. External user f i. Internal user
f
d. External user f j. External user
f
e. Internal userf k. External user
f
f. External user f l. External user
f
Quick Study 1-3 (10
f f f
minutes)
4. Opportunity
f
1. Opportunity 5. Pressure
2. Pressure 6. Rationalization
3. Rationalization
Quick Study 1-4 (5 minutes)
f f f f
, 1. Principle 3. Assumption
2. Assumption 4. Principle
Quick Study 1-5 (10
f f f
fminutes)
AttributeuPresent Proprietorship Partnership Corporation LLC
1. Business taxed f no no yes no
2. Limited liability f no no yes yes
3. Legal entity
f no no yes yes
Quick Study 1-6 (10 minutes)
f f f f
1. Revenue recognition principle
f f
2. Measurement (cost) principle f f
3. Business entity assumption
f f
Quick Study 1-7 (5 minutes)
f f f f
Assets = Liabilities + Equity
$700,000 (a) $280,000 $420,000
$500,000 (b) $250,000 (b) $250,000
Quick Study 1-8 (10 minutes)
f f f f
1.
Assets = Liabilities + Equity
$75,000 (a) $35,000 $40,000
(b) $95,000 $25,000 $70,000
$85,000 $20,000 (c) $65,000
2.
+ u Common
Assets = Liabilities - Dividends +uRevenues -uExpenses
f f
u
Stock
f
f f f f
$40,000 $16,000 $20,000 $ 0 (a) $12,000
f $ 8,000
$80,000 $32,000 $44,000 (b) $2,000
f $24,000 $18,000
