Solution Manual for Accounting Principles 8th Canadian Edition By Jerry
l l l l l l l l l
Weygandt, DonaldKieso, Paul Kimmel, Barbara Trenholm, Valerie Warren,
l l l l l l l l l
Lori Novak (Solutions Manual All Chapters, 100% Original Verified, A+
l l l l l l l l l l
Grade) l
CHAPTER 1 l
Accounting in Action l l
Learning Objectives l
1. Identify the use and users of accounting and the objective of
l l l l l l l l l l
financial reporting.
l l
2. Compare the different forms of business organization.
l l l l l l
3. Explain the building blocks of accounting: ethics and the
l l l l l l l l
concepts included in the conceptual framework.
l l l l l l
4. Describe the components of the financial statements and
l l l l l l l
explain the accounting equation.
l l l l
5. Analyze the effects of business transactions on the
l l l l l l l
accounting equation.
l l
6. Prepare financial statements. l l
Solutions Manual 1.1 Chapter 1
.
, Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Eighth Canadian Edition
Summary of Questions by Learning Objectives and Bloom’s Taxonomy
l l l l l l l l
Item LO BT Item LO
l BT Item LO BT Item LO
l l BT Item LO BT l
Questions
1. 1 C 5. 3 C 9. 3 C 13. 4 K 17. 5 C
2. 1 C
l 6. 3 K 10.
l 3 C 14. 4 l K
l 18. 5 A l
3. 1 C
l 7. 3 K 11.
l 3 C 15. 4 l C
l 19. 6 PK l
4. 2 K 8. 3 C 12. 4 K 16. 4 K 20. 6 C
Brief Exercises
l
1. 1 K 5. 3 C 9. 4 AP 13. 5 AP 17. 6 AP
2. 2 C
l 6. 3 C 10.
l 4 AP 14. 4,5 l AP 18.
l 6 AP
l
3. 3 A
l 7. 4 C 11.
l 4 K 15. 4,6 l AP
l
4. 3 N 8. 4 AP 12. 5 AP 16. 6 AP
C
Exercises
1. 1 C 5. 1,3,5 K 9. 3,5,6 C 13. 4,5 AP 17. 6 AP
2. 1 C
l 6. 4 AP 10.
l 5 C l 14. 6 AP
l
3. 2 C
l 7. 4 AP 11.l 5 C l 15. 6 AP
l
4. 3 C 8. 5 C 12. 4,5 AP 16. 6 AP
Problems
1. 1 S 4. 4 AP 7. 3,4,5,6 AP 10. 6 AN
2. 2,3 AP
l l 5. 3,5 C 8. 4,5,6 AP 11. 3,4,5,6 AP
l l
3. 4 AP 6. 4,6 AP 9. 6 AP
Solutions Manual 1.2 Chapter 1
.
,Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Eighth Canadian Edition
Legend: The following abbreviations will appear throughout the
l l l l l l l
solutions manual file.
l l l
LO Learning objective l
Bloom's
BT Taxonomy
K Knowledge
C Comprehension
AP Application
AN Analysis
S Synthesis
E Evaluation
Difficulty: Level of difficulty l l
S Simple
M Moderate
C Complex
Time: Estimated time to complete in minutes l l l l l
AACSB Association to Advance Collegiate Schools of Business l l l l l l
Communication
l Communication
Ethics Ethics
Analytic Analytic
Tech. Technology
Diversity Diversity
Reflec. Thinking Reflective Thinking
l l
CPA CM l CPA Canada Competency Map
l l l
Ethics Professional and Ethical Behaviour l l l
PS and DM
l Problem-Solving and Decision-Making
l l l
Comm. Communication
Self-Mgt. Self-Management
Team & Lead Teamwork and Leadership
l l l l
Reporting Financial Reporting l
Stat. & Gov. l Strategy and Governance
l l l
Mgt. Accounting
l Management Accounting l
Audit Audit and Assurance l l
Finance Finance
Tax Taxation
Solutions Manual 1.3 Chapter 1
.
, Weygandt, Kieso, Kimmel, Trenholm, Warren, Novak Accounting Principles, Eighth Canadian Edition
ASSIGNMENT CLASSIFICATION TABLE l l
Brief Problems Problems
Learning Objectives l Questions l Exercises Exercises Set A l l Set B l l
1. Identify the use and
l l l l 1, 2, 3
l l 1 1, 2, 5
l l 1 1
users of accounting
l l l
and the objective of
l l l l
financial reporting.
l l
2. Compare the different
l l l 4 2 3, 2 2
forms of business
l l l
organization.
l
3. Explain the building
l l l 5, 6, 7, 8,
l l l 3, 4, 5, 6
l l l 4, 5, 9, 10
l l l 2, 5, 7,
l l 2, 5, 7, 11
l l l
blocks of accounting:
l l l 9, 10, 11
l l 11
ethics and the
l l l
concepts included in
l l l
the conceptual l
framework.
l
4. Describe the
l l 12, 13, 14.
l l 7, 8, 9,
l l 6, 7, 13
l l 3, 4, 6, 7,
l l l 3, 4, 6, 7,
l l l
components of the
l l l 15, 16 l 10, 11, 15
l l 8, 11
l 8, 11
l
financial statements
l l
and explain the
l l l
accountingequation.
l l
5. Analyze the effects of
l l l l 17, 18 l 12, 13, 14
l l 5, 8, 9,
l l 5, 7, 8,
l l 6, 7, 8, 9,
l l l
business transactions
l l 10, 11, l 11 10, 11 l
on the accounting
l l l 12, 13 l
equation.
l
6. Prepare financial
l l 19, 20 l 14, 15, 16
l l 9, 14, 15,
l l 6, 7, 8, 9,
l l l 2, 5, 7, 11
l l l
statements.
l 17, 18 l 16, 17 l 10, 11 l
Solutions Manual 1.4 Chapter 1
.
