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Solutions Manual for Intermediate Accounting 12th Edition by Donald E. Kieso Jerry J. Weygandt Terry D. Warfield

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Intermediate accounting

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Intermediate Accounting

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Intermediate Accounting

Solutions Manual for Intermediate Accounting 12th Edition by Donald E. Kieso Jerry J. Weygandt Terry D. Warfield (A Comprehensive Guide)

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solutions manual for intermediate accounting 12th edition by donald e kieso jerry j weygandt terry d warfield
solutions manual for intermediate accounting 12th edition by donald e kieso jerry j w

Book Title:Intermediate Accounting

Author(s):Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy

Edition:2019
ISBN:9781119496366
Edition:Unknown

Exam (elaborations)
Solution Manual For Intermediate Accounting 16th Edition By Donald |2024|

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CONTENTS

Preface to the Instructor

Chapter 1 Financial Accounting and Accounting Standards

Chapter 2 Conceptual Framework Underlying Financial Accounting

Chapter 3 The Accounting Information System

Chapter 4 Income Statement and Related Information

Chapter 5 Balance Sheet and Statement of Cash Flows

Chapter 6 Accounting and the Time Value of Money

Chapter 7 Cash and Receivables

Chapter 8 Valuation of Inventories: A Cost Basis Approach

Chapter 9 Inventories: Additional Valuation Issues

Chapter 10 Acquisition and Disposition of Property, Plant, and Equipment

Chapter 11 Depreciation, Impairments, and Depletion

Chapter 12 Intangible Assets

Chapter 13 Current Liabilities and Contingencies

Chapter 14 Long-Term Liabilities

Chapter 15 Stockholders’ Equity

Chapter 16 Dilutive Securities and Earnings Per Share

Chapter 17 Investments

Chapter 18 Revenue Recognition

Chapter 19 Accounting for Income Taxes

Chapter 20 Accounting for Pensions and Postretirement Benefits

Chapter 21 Accounting for Leases

Chapter 22 Accounting Changes and Error Analysis

Chapter 23 Statement of Cash Flows

Chapter 24 Full Disclosure in Financial Reporting
iii

, PREFACE—TO THE INSTRUCTOR
The presentation of the subject matter in each of the chapters in Intermediate Accounting, 12e is followed
by questions, brief exercises, exercises, problems, and concepts for analysis. Another section entitled
“Using Your Judgment” is also provided (financial reporting, financial statement analysis, comparative
analysis, research, international reporting, professional re- search and professional simulation). Note that
writing, group, and ethics cases have been in- tegrated into the exercises, problems, and concepts for
analysis and are identified with icons inthe text margins. This manual contains complete solutions to all
exercises, problems, and cases in the “Using Your Judgment” section as well as suggested answers to the
questions and concepts for analysis.

Assignment Classification Table (Topic and Learning Objective). A unique feature of our Solutions
Manual is a table that categorizes four types of end-of-chapter items (questions, ex- ercises, problems, and
concepts for analysis) by key topics in the chapter. New to Intermedi- ate Accounting, 12e is a
classification table organizing solutions by textbook learning objective.

Assignment Characteristics Table. Each chapter of this manual contains a table offering:
(1) a short description of each exercise, problem, and case, (2) an indication of the level of dif-ficulty
(simple, moderate, or complex), and (3) the estimated time in minutes.

An estimated average minimum and maximum time (in minutes) is given for each exercise, problem, and
case in the text. Although many of the estimated times are based on actual classroom experience, it should
be recognized that they are only averages. On any given problem or case even a superior student may
encounter difficulty because of a mechanical er- ror or misinterpretation of the problem and spend more
time than on other problems of similar difficulty.

The estimated time to complete each exercise is also indicated at the right of each exercise number. For
problems and cases the estimated time also appears with the list of “purposes” that precedes each set of
problems and each set of cases.

We hope these classifications, descriptions, and times will prove helpful to instructors in tailor- ing
homework assignments to the capacities of their students and to the time available.

Purpose. A statement of the purpose of each problem and each case appears in a list pre- ceding the sets
of problems and cases in each chapter.

Questions. The questions at the end of the chapter provide a basis for classroom discussion of the topics
presented in the chapter and serve as an aid to the students in testing their un- derstanding of the text
material. They deal with both conceptual and procedural matters. The sequence of questions generally
corresponds to the topical coverage in the text. Full and com- plete answers to these questions are
presented in this manual.

Brief Exercises. Each brief exercise focuses on one concept or procedure. Because these brief exercises
are straightforward and simple, they build the student’s confidence and test ba- sic skills.

Exercises. Generally, the exercises cover a specific topic and require less time and effort to solve than the
problems. In addition to serving as supplemental assignment material, the exer- cises may be used for
class discussion and for examination purposes.

iv

,Problems. Whereas the goal of the exercises is brevity of solution time and coverage of es- sential
principles or methodology with minimum difficulty, the problems are designed to de- velop a professional
level of achievement and, therefore, are generally more challenging to solve. We have arranged the
problems, as much as possible, from least to most difficult in the same order as the discussion in the
chapter. Some of the problems are routine and can be solved by following procedures that are illustrated
in the textbook. The more difficult problems may blend a diversity of principles into a single situation
requiring a series of steps, computa- tions, or solutions and demand interpretation, analysis, and judgment.

Many of the problems (indicated by AICPA, CMA, or CIA Adapted) have been adapted fromthe
Uniform CPA, CMA, or CIA Examinations. In most instances, the solutions to these prob- lems include
all the information from the unofficial CPA, CMA, or CIA examination solution. Generally, the students
will not furnish a solution in the same detail.

Additionally, a far greater number of problems has been provided than the instructor can rea- sonably use
in a single offering of the course.

Concepts For Analysis. The concepts for analysis, many of which are adoptions from the Uniform CPA
Examination, generally require essay as opposed to quantitative solutions. They are intended to confront
the student with situations, frequently unstructured, calling for in-depth analysis and the exercise of
judgment in identifying problems and evaluating alternatives.

Using Your Judgment. This section of assignment material has been greatly expanded and revised for
this 12th edition. The financial reporting problems have been adapted to the Annual Report financial
information found in the text. Many of the financial statement analysis cases (using real-world companies),
the comparative analysis cases, and the research cases (many of which require either library research or
Internet research), have been updated for this edi- tion. This edition also includes updated and expanded
international reporting cases and a new feature called “Professional Research”. The professional
simulations are patterned after the computerized CPA exam, which was introduced in 2004.
SUMMARY

The solutions have been painstakingly prepared, reviewed, and tested to provide instructors error-free
materials. To the extent that we have not, we invite the users of our textbook to in- form us directly of the
reactions and suggested improvements. All solutions manuals are avail- able at no cost for use by
instructors adopting the textbook.

ACKNOWLEDGMENTS

We sincerely thank the following individuals for their expert assistance in reviewing andchecking the
material contained in this Solutions Manual: John Borke, University of Wiscon- sin—Platteville; Jack
Cathey, University of North Carolina – Charlotte; Robert Derstine, Villa- nova University; Gregory Dold,
Southwestern College; James M. Emig, Villanova University; Larry Falcetto, Emporia State University;
Paul Robertson, Henderson State University; Alice Sineath, Forsyth Technical Community College; Dick
Wasson, Southwestern College. We thank development editor, Ann Torbert, Ed Brislin of John Wiley
& Sons, and Alicia Gmeiner of Elm Street Publishing Services for preparing this manual for publication.
Donald E. Kieso
Jerry J. Weygandt
Terry D. Warfield

v

, CHAPTER 1
Financial Accounting and Accounting Standards

ASSIGNMENT CLASSIFICATION TABLE

Topics Questions Cases

1. Subject matter of accounting. 1 1

2. Environment of accounting. 2, 3, 4 3, 4

3. Role of principles, objectives, 5, 6, 7 2
standards, and accounting theory.

4. Historical development of accounting 8, 9, 10, 11 5, 16
standards.

5. Authoritative pronouncementsand 12, 13, 14, 15, 6, 7, 8, 9, 10, 11,
standards-setting bodies. 16, 17, 18, 19, 12, 15
20, 21, 22, 23

6. Role of pressure groups. 23, 24, 25, 26, 17, 18
27, 28

7. International accounting. 29, 30 14

8. Ethical issues. 31 13, 16

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Solutions Manual for Intermediate Accounting 12th Edition by Donald E. Kieso Jerry J. Weygandt Terry D. Warfield

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