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Solutions for Intermediate Accounting, Volume 1 7th Canadian Edition by Beechy
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Solutions for Intermediate Accounting, Volume 1 7th Canadian Edition 7ce by Beechy. Complete chapters are included Chapter 1: The Framework for Financial Reporting Chapter 2: Accounting Judgements Chapter 3: Statements of Income and Comprehensive Income Chapter 4: Statements of Financi...

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  • November 14, 2024
  • 693
  • 2021/2022
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Appendix: Fundamentals: The Accounting Information
Processing System

Suggested Time




Solutions Manual to accompany Intermediate Accounting, Volume 1, 6th edition App1-
1

,Technical Review
TRApp1-1 Deferred Expenses………….. ........................... 5
TRApp1-2 Deferred Revenue................................................ 5
TRApp1-3 Accrued Expenses and Reversing Journal Entries 5
TRApp1-4 Accrued Revenue and Reversing Journal Entries .... 5
TRApp1-5 Adjusting Journal Entries ................................... 5
TRApp1-6 Adjusting Journal Entries ................................... 5
TRApp1-7 Adjusting Journal Entries ................................... 5
TRApp1-8 Closing Entries ................................................... 5
TRApp1-9 Adjusted Trial Balance ....................................... 5
TRApp1-10 Adjusting Entries and
Statement of Changes in Equity ............................ 5


Assignments
AApp1-1 Journalize Transactions ........................................ 20
AApp1-2 Journalize Transactions and Adjustments—
Valuation (*W) ...................................................... 30
AApp1-3 Journalize and Post—Unadjusted Trial Balance .. 30
AApp1-4 Adjusting Entries .................................................. 30
AApp1-5 Adjusting Entries .................................................. 20
AApp1-6 Adjusting Entries (*W)......................................... 30
AApp1-7 Adjusting Entries .................................................. 15
AApp1-8 Adjusting Entries .................................................. 25
AApp1-9 ASPE—Adjusting Entries .................................... 25
AApp1-10 Adjusting Entries ................................................. 30
AApp1-11 Adjusting Entries ................................................. 25
AApp1-12 Entries and Financial Statements ........................ 30
AApp1-13 Adjustments and Financial Statements (*W) ...... 30
AApp1-14 Adjustments and Statement of Financial Position 30
AApp1-15 Adjustments and Financial Statements................ 30
AApp1-16 Preparing a Statement of Financial Position ....... 30
AApp1-17 ASPE—Preparing Financial Statements (*W) .... 30
AApp1-18 Entries and Worksheet......................................... 45
AApp1-19 Entries and Worksheet......................................... 45
AApp1-20 ASPE—The Accounting Cycle ........................... 75
AApp1-21 The Accounting Cycle ......................................... 90
AApp1-22 Worksheet, Adjusting and Closing Entries,
Statements...................................................... 60
AApp1-23 Perform All Accounting Cycle Steps .................. 90




App1-2 Solutions Manual to accompany Intermediate Accounting, Volume 1, 6th edition

, AApp1-24 Special Journals ................................................... 20
AApp1-25 Special Journals ................................................... 10
AApp1-26 Special Journals ................................................... 20
AApp1-27 Special Journals ................................................... 20
AApp1-28 Transactions and Financial Statements ............... 40
AApp1-29 Transactions and Financial Statements ............... 40
AApp1-30 Transactions and Financial Statements ............... 25


*W The solution to this assignment is on the text website, Connect.
This solution is marked WEB.




Solutions Manual to accompany Intermediate Accounting, Volume 1, 6th edition App1-
3

, Technical Review

Technical Review App1-1

Nov 1
Dr. Prepaid insurance 600
Cr. Cash 600
To record payment of insurance.

Dec 31
Dr. Insurance expense 200
Cr. Prepaid insurance 200
To record insurance expense for two months to Nov 1 to Dec 31
(600 x 2/6)

Technical Review App1-2

April 1
Dr. Cash 2,400
Cr. Revenue – service contracts 2,400
To record receipt from customer for a 12-month service contract.

Oct 31
Dr. Revenue – service contracts 1,000
Cr. Deferred revenue 1,000
To record deferred revenue for five months Nov 1 to Mar 31
(2,400 x 5/12)




Technical Review App1-3
Apr 30
Dr. Wages expense 5,000
Cr. Accrued Wages 5,000
To accrue wages for 5 days (14,000 x 5/14) on April 30.

May 1
Dr. Accrued wages 5,000
Cr. Wages expense 5,000
To reverse the accrual on May 1.

May 9
Dr. Wages expense 14,000
Cr. Cash 14,000
To record payment of wages for pay period ending May 9


App1-4 Solutions Manual to accompany Intermediate Accounting, Volume 1, 6th edition

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