Solution Manual for Intermediate Accounting (Volume 1), 8th Canadian Edition By Thomas H. Beechy, Joan E. Conrod, All Chapters 1 - 11, Complete Newest Version

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,TABLE OF CONTENTS
nn nn




CHAPTER nnONE
Financial nnStatements nnand nnBusiness nnDecisions

CHAPTER nnTWO
Investing nnand nnFinancing nnDecisions nnand nnthe nnAccounting nnSystem

CHAPTER nnTHREE
Operating nnDecisions nnand nnthe nnAccounting nnSystem

CHAPTER nnFOUR
Adjustments, nnFinancial nnStatements, nnand nnthe nnClosing nnProcess

CHAPTER nnFIVE
Reporting nnand nnInterpreting nnSales nnRevenue, nnReceivables, nnand nnCash

CHAPTER nnSIX
Reporting nnand nnInterpreting nnCost nnof nnSales nnand nnInventory

CHAPTER nnSEVEN
Reporting nnand nnInterpreting nnLong-Lived nnAssets

CHAPTER nnEIGHT
Reporting nnand nnInterpreting nnCurrent nnLiabilities

CHAPTER nnNINE
Reporting nnand nnInterpreting nnNon-current nnLiabilities

CHAPTER nnTEN
Reporting nnand nnInterpreting nnShareholders' nnEquity

CHAPTER nnELEVEN
Statement nnof nnCash nnFlows

CHAPTER nnTWELVE
Communicating nnAccounting nnInformation nnand nnAnalyzing nnFinancial nnStatements

CHAPTER nnTHIRTEEN
Reporting nnand nnInterpreting nnInvestments nnin nnOther nnCorporations




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,CHAPTER ONE
nn




FINANCIAL STATEMENTS AND BUSINESS DECISIONS
nn nn nn nn




ANSWERS TO QUESTIONS
nn nn




1. Accounting nnis nna nnsystem nnthat collects nnand nnprocesses nn(analyzes, nnmeasures, nnand
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nnrecord nns) nnfinancial nninformation nnabout nnan nnorganization nnand nnreports nnthat

nninformation nnto nndecision nnmakers.




2. Financial nnaccounting nninvolves nnpreparation nnof nnthe nnfour nnbasic nnfinancial
nnstatements nna nnndrelated nndisclosures nnfor nnexternal nndecision nnmakers.

nnManagerial nnaccounting nninvolv nnes nnthennpreparationnnofnndetailed nnplans, nnbudgets,

nnforecasts,nnandnnperformance nnreports nnfor nninternal nndecision nnmakers.




3. Financial nnreports nnare nnused nnby nnboth nninternal nnand nnexternal nngroups nnand
nnindividuals. nnThe nnint nnernal nngroups nnare nncomprised nnof nnthe nnvarious nnmanagers nnof

nnthe nnentity. nnThe nnexternal nngroups nninclude nnthe owners, nninvestors, nncreditors,
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nngovernmental nnagencies, nnother nninterested nnpart nnies, nnand nnthe nnpublic at nnlarge.
z




4. Investors nnpurchase nnall nnor nnpart of nna nnbusiness nnand nnhope nnto nngain nnby nnreceiving nnpart of
z z


nnwhat nnt nnhe nncompany nnearns nnand/or nnselling nnthe nncompany nnin nnthe nnfuture nnat a nnhigher
z


nnprice nnthannnthey nnpaid. nnCreditors nnlend nnmoneynntonna nncompanynnfornna nnspecific length nnof
z


nntimennand nnhope nnto nngain nnby nncharging nninterest nnon nnthe nnloan.




5. In nna nnsociety nneach nnorganization nncan nnbe nndefined nnas nna nnseparate nnaccounting nnentity.
nnAn nnacco nnunting nnentity nnis nnthe organization nnfor nnwhich nnfinancial nndata nnare nnto nnbe
z


nncollected. nnTypical nnacc nnounting nnentities nnare a z nnbusiness, nna nnchurch, nna

nngovernmental nnunit, nna nnuniversity nnand nnother nnn nnonprofit nnorganizations nnsuch nnas nna

nnhospital nnand nna nnwelfare nnorganization. nnA nnbusiness nntypica nnlly nnis nndefined nnand nntreated

nnasnna nnseparate n n entity nnbecause nnthe owners, nncreditors,nninvestors
z


, nnand nnother nninterested nnparties nnneed nnto nnevaluate nnits nnperformance nnand nnits nnpotential
nnsepara nntely nnfrom nnother nnentities nnand nnfrom nnits owners.
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, 6. NamennofnnStatement Alternative nnTitle
(a) Income nnStatement (a) nnStatementnnof nnEarnings;nnStatement of
z


Income;nnStatement nnof nnOperations
(b) Balance nnSheet (b) n n Statement of nnFinancial nnPosition
z


(c) Audit nnReport (c) n n Report nnofnnIndependentnnAccountants




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