Canadian Edition
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SOLUTIONS
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MANUAL
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Jerry J. Weygandt
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Paul D. Kimmel
Jill E. Mitchell
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Valerie Warren
Lori Novak
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Comprehensive Solution Manual for
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Instructors and Students
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© Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell, Valerie Warren & Lori Novak
All rights reserved. Reproduction or distribution without permission is prohibited.
©STUDYSTREAM
, TABLE OF CONTENTS
Accounting Principles, Volume 1 – 10th
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Canadian Edition
Weygandt, Kimmel, Mitchell, Warren & Novak
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Chapter 1. Accounting in Action
Chapter 2. The Recording Process
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Chapter 3. Adjusting the Accounts
Chapter 4. Completion of the Accounting Cycle
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Chapter 5. Accounting for Merchandising Operations
Chapter 6. Inventory Costing
Chapter 7. Internal Control and Cash
Chapter 8. Accounting for Receivables
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Chapter 9. Long-Lived Assets
Chapter 10. Current Liabilities and Payroll
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©STUDYSTREAM
, SOLUTION MANUAL FOR
ACCOUNTING PRINCIPLES, VOLUME 1, 10TH CANADIAN EDITION JERRY
J. WEYGANDT, PAUL D. KIMMEL, JILL E. MITCHELL, VALERIE WARREN,
ST
LORI NOVAK
CHAPTER 1-10
CHAPTER 1
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Accounting in Action
Learning Objectives
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1. Identify the use and users of accounting and the objective of
financial reporting.
2. Compare the different forms of business organization.
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3. Explain the building blocks of accounting: ethics and the
concepts included in the conceptual framework.
4. Describe the components of the financial statements and
explain the accounting equation.
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5. Analyze the effects of business transactions on the
accounting equation.
6. Prepare financial statements.
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, Summary of Questions by Learning Objectives and Bloom‘s Taxonomy
Item LO BT Item LO BT Item LO BT Item LO BT Item LO BT
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Questions
1. 1 C 5. 3 C 9. 3 C 13. 4 K 17. 5 C
2. 1 C 6. 3 K 10. 3 C 14. 4 K 18. 5 AP
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3. 1 C 7. 3 K 11. 3 C 15. 4 C 19. 6 K
4. 2 K 8. 3 C 12. 4 K 16. 4 K 20. 6 C
Brief Exercises
1. 1 K 5. 3 C 9. 4 AP 13. 5 AP 17. 6 AP
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2. 2 C 6. 3 C 10. 4 AP 14. 4,5 AP 18. 6 AP
3. 3 AN 7. 4 C 11. 4 K 15. 4,6 AP
4. 3 C 8. 4 AP 12. 5 AP 16. 6 AP
Exercises
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1. 1 C 5. 1,3,5 K 9. 3,5,6 C 13. 4,5 AP 17. 6 AP
2. 1 C 6. 4 AP 10. 5 C 14. 6 AP
3. 2 C 7. 4 AP 11. 5 C 15. 6 AP
4. 3 C 8. 5 C 12. 4,5 AP 16. 6 AP
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Problems
1. 1 S 4. 4 AP 7. 3,4,5,6 AP 10. 6 AN
2. 2,3 AP 5. 3,5 C 8. 4,5,6 AP 11. 3,4,5,6 AP
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3. 4 AP 6. 4,6 AP 9. 6 AP
Legend: The following abbreviations will appear throughout the
solutions manual file.
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LO Learning objective
Bloom's
BT Taxonomy
K Knowledge
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C Comprehension
AP Application
AN Analysis
S Synthesis
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E Evaluation
Difficulty: Level of difficulty
S Simple