Solution Manual for Accounting Principles Volume 1 & Volume 2, 9th Canadian Edition Jerry J. Weygandt

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Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Ninth Canadian Edition CHAPTER 1 Accounting in Action Learning Objectives 1. Identify the use and users of accounting and the objective of financial reporting. 2. Compare the different forms of business organization. 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. 5. Analyze the effects of business transactions on the accounting equation. 6. Prepare financial statements. Solutions Manual 1.1 Chapter 1 © 2022 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited. Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Ninth Canadian Edition Summary of Questions by Learning Objectives and Bloom‘s Taxonomy Item LO BT Item LO BT Item LO 1. 2. 3. 4. 1 1 1 2 C C C K 5. 6. 7. 8. 1. 2. 3. 4. 1 2 3 3 K C AN C 5. 6. 7. 8. 1. 2. 3. 4. 1 1 2 3 C C C C 5. 6. 7. 8. 1. 1 S 2. 2,3 AP 3. 4 AP 4. 5. 6. BT Item LO BT Item LO BT Questions 3 C 9. 3 C 13. 4 K 17. 3 K 10. 3 C 14. 4 K 18. 3 K 11. 3 C 15. 4 C 19. 3 C 12. 4 K 16. 4 K 20. Brief Exercises 3 C 9. 4 AP 13. 5 AP 17. 3 C 10. 4 AP 14. 4,5 AP 18. 4 C 11. 4 K 15. 4,6 AP 4 AP 12. 5 AP 16. 6 AP Exercises 1,3,5 K 9. 3,5,6 C 13. 4,5 AP 17. 4 AP 10. 5 C 14. 6 AP 4 AP 11. 5 C 15. 6 AP 5 C 12. 4,5 AP 16. 6 AP Problems 4 AP 7. 3,4,5,6 AP 10. 6 AN 3,5 C 8. 4,5,6 AP 11. 3,4,5,6 AP 4,6 AP 9. 6 AP 5 5 6 6 C AP K C 6 6 AP AP 6 AP Solutions Manual 1.2 Chapter 1 © 2022 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited. Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Ninth Canadian Edition Legend: The following abbreviations will appear throughout the solutions manual file. LO BT Difficulty: Time: AACSB CPA CM Learning objective Bloom's Taxonomy K Knowledge C Comprehension AP Application AN Analysis S Synthesis E Evaluation Level of difficulty S Simple M Moderate C Complex Estimated time to complete in minutes Association to Advance Collegiate Schools of Business Communication Communication Ethics Ethics Analytic Analytic Tech. Technology Diversity Diversity Reflec. Thinking Reflective Thinking CPA Canada Competency Map Ethics Professional and Ethical Behaviour PS and DM Problem-Solving and Decision-Making Comm. Communication Self-Mgt. Self-Management Team & Lead Teamwork and Leadership Reporting Financial Reporting Stat. & Gov. Strategy and Governance Mgt. Accounting Management Accounting Audit Audit and Assurance Finance Finance Tax Taxation Solutions Manual 1.3 Chapter 1 © 2022 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited. Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Ninth Canadian Edition ASSIGNMENT CLASSIFICATION TABLE Questions Brief Exercises Exercises Problems Set A Problems Set B 1. Identify the use and users of accounting and the objective of financial reporting. 1, 2, 3 1 1, 2, 5 1 1 2. Compare the different forms of business organization. 4 2 3, 2 2 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. 5, 6, 7, 8, 9, 10, 11 3, 4, 5, 6 3, 4, 5, 9, 10 2, 5, 7, 11 2, 5, 7, 11 12, 13, 14. 15, 16 7, 8, 9, 10, 11, 15 6, 7, 13 3, 4, 6, 7, 8, 11 3, 4, 6, 7, 8, 11 5. Analyze the effects of business transactions on the accounting equation. 17, 18 12, 13, 14 5, 8, 9, 10, 11, 12, 13 5, 7, 8, 11 6, 7, 8, 9, 10, 11 6. Prepare financial statements. 19, 20 14, 15, 16 17, 18 9, 14, 15, 16, 17 6, 7, 8, 9, 10, 11 2, 5, 7, 11 Learning Objectives Solutions Manual 1.4 Chapter 1 © 2022 John Wiley & Sons Canada, Ltd. Unauthorized copying, distribution, or transmission of this page is prohibited.