solution manual for Intermediate
Accounting, Volume 2, 12th Canadian
Edition by Donald E. Kieso
, CHAPTER 1-13
NON-FINANCIAL AND CURRENT LIABILITIES
Learning Objectives
1. Understand the importance of non-financial and current
liabilities from a business perspective.
2. Define liabilities, distinguish financial liabilities from other
Solutions Manual 13-1 Chapter 13
Copyright © 2019 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
, liabilities, and identify how they are measured.
3. Define current liabilities and identify and account for common
types of current liabilities.
4. Identify and account for the major types of employee-related
liabilities.
5. Explain the recognition, measurement, and disclosure
requirements for decommissioning and restoration
obligations.
6. Explain the issues and account for product guarantees, other
customer program obligations, and unearned revenue.
7. Explain and account for contingencies and uncertain
commitments, and identify the accounting and reporting
requirements for guarantees and commitments.
8. Indicate how non-financial and current liabilities are
presented and analyzed.
9. Identify differences in accounting between IFRS and ASPE,
and what changes are expected in the near future.
Solutions Manual 13-2 Chapter 13
Copyright © 2019 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
, Summary of Questions by Learning Objectives and Bloom’s Taxonomy
Ite LO BT Ite LO BT Ite LO
BT Ite LO BT Ite LO BT
m m m m m
Brief Exercises
1. 1 C 8. 3 AP 15. 4 AP 22. 5,9 AP 29. 6,9 AP
2. 3 AP 9. 3 AP 16. 4 AP 23. 6 AP 30. 7,9 AP
3. 3 AP 10. 3 AP 17. 4 AP 24. 6 AP 31. 7 AP
4. 3 AP 11. 3 AP 18. 4 AP 25. 6 AP 32. 8 AN
5. 3 AP 12. 3 AP 19. 4 AP 26. 6 AP
6. 2,3 AP 13. 3,9 C 20. 2,5 AP 27. 6 AP
7. 3 AP 14. 3,9 C 21. 5,9 AP 28. 6 AP
Exercises
1. 2,9 C 8. 3,8,9 AP 15. 5,9 AP 22. 6,9 AP 29. 7,9 C
2. 3 AP 9. 3,8,9 AP 16. 5,9 AP 23. 6,9 AP 30. 8 AN
3. 3 AP 10. 4 AP 17. 6 AP 24. 6,9 AP 31. 8 AN
4. 3,9 AP 11. 4 AP 18. 3,4,6 AP 25. 6 AP 32. 8 AN
5. 3 AP 12. 4 AP 19. 6,9 AP 26. 6,9 AP
6. 3,9 AP 13. 4 AP 20. 6,9 AP 27. 6 AP
7. 3,4,6,7,9 C 14. 4,9 AN 21. 6,9 AP 28. 6 AP
Problems
1. 2,3,5,9 AP 5. 4 AP 9. 6,7,9 AP 13. 6,9 AP 17. 7,8, AP
9
2. 2,3 AP 6.
4 AP 10. 6,7,10 AP 14. 6,8,9 AP
3. 2,3,4,6,9 AP 7.
4,9 AN 11. 6,8 AP 15. 6,9 AP
4. 2,3,5,6 AP 8.
5,7 AP 12. 6,7,9 AP 16. 7,8 AP
Cases
1. 6,9 AN 2. 3.
Integrated Cases
1. 7 AN 2. 7 AP 3. 7 AP
Research and Analysis
1. 5,6,7 AP 3. 6,7,8 AP 5. 6,7 AP 6. 4,8 AP 7. 2,6, AN
7
2. 3,7,8 AP 4. 3,5,6, AP
8
Solutions Manual 13-3 Chapter 13
Copyright © 2019 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
Accounting, Volume 2, 12th Canadian
Edition by Donald E. Kieso
, CHAPTER 1-13
NON-FINANCIAL AND CURRENT LIABILITIES
Learning Objectives
1. Understand the importance of non-financial and current
liabilities from a business perspective.
2. Define liabilities, distinguish financial liabilities from other
Solutions Manual 13-1 Chapter 13
Copyright © 2019 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
, liabilities, and identify how they are measured.
3. Define current liabilities and identify and account for common
types of current liabilities.
4. Identify and account for the major types of employee-related
liabilities.
5. Explain the recognition, measurement, and disclosure
requirements for decommissioning and restoration
obligations.
6. Explain the issues and account for product guarantees, other
customer program obligations, and unearned revenue.
7. Explain and account for contingencies and uncertain
commitments, and identify the accounting and reporting
requirements for guarantees and commitments.
8. Indicate how non-financial and current liabilities are
presented and analyzed.
9. Identify differences in accounting between IFRS and ASPE,
and what changes are expected in the near future.
Solutions Manual 13-2 Chapter 13
Copyright © 2019 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
, Summary of Questions by Learning Objectives and Bloom’s Taxonomy
Ite LO BT Ite LO BT Ite LO
BT Ite LO BT Ite LO BT
m m m m m
Brief Exercises
1. 1 C 8. 3 AP 15. 4 AP 22. 5,9 AP 29. 6,9 AP
2. 3 AP 9. 3 AP 16. 4 AP 23. 6 AP 30. 7,9 AP
3. 3 AP 10. 3 AP 17. 4 AP 24. 6 AP 31. 7 AP
4. 3 AP 11. 3 AP 18. 4 AP 25. 6 AP 32. 8 AN
5. 3 AP 12. 3 AP 19. 4 AP 26. 6 AP
6. 2,3 AP 13. 3,9 C 20. 2,5 AP 27. 6 AP
7. 3 AP 14. 3,9 C 21. 5,9 AP 28. 6 AP
Exercises
1. 2,9 C 8. 3,8,9 AP 15. 5,9 AP 22. 6,9 AP 29. 7,9 C
2. 3 AP 9. 3,8,9 AP 16. 5,9 AP 23. 6,9 AP 30. 8 AN
3. 3 AP 10. 4 AP 17. 6 AP 24. 6,9 AP 31. 8 AN
4. 3,9 AP 11. 4 AP 18. 3,4,6 AP 25. 6 AP 32. 8 AN
5. 3 AP 12. 4 AP 19. 6,9 AP 26. 6,9 AP
6. 3,9 AP 13. 4 AP 20. 6,9 AP 27. 6 AP
7. 3,4,6,7,9 C 14. 4,9 AN 21. 6,9 AP 28. 6 AP
Problems
1. 2,3,5,9 AP 5. 4 AP 9. 6,7,9 AP 13. 6,9 AP 17. 7,8, AP
9
2. 2,3 AP 6.
4 AP 10. 6,7,10 AP 14. 6,8,9 AP
3. 2,3,4,6,9 AP 7.
4,9 AN 11. 6,8 AP 15. 6,9 AP
4. 2,3,5,6 AP 8.
5,7 AP 12. 6,7,9 AP 16. 7,8 AP
Cases
1. 6,9 AN 2. 3.
Integrated Cases
1. 7 AN 2. 7 AP 3. 7 AP
Research and Analysis
1. 5,6,7 AP 3. 6,7,8 AP 5. 6,7 AP 6. 4,8 AP 7. 2,6, AN
7
2. 3,7,8 AP 4. 3,5,6, AP
8
Solutions Manual 13-3 Chapter 13
Copyright © 2019 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is strictly prohibited.
