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SOLUTION MANUAL FOR Financial Accounting Fundamentals, 8th Edition by John Wild Chapter 1-13 with appendix B&C A++ $12.99   Add to cart

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SOLUTION MANUAL FOR Financial Accounting Fundamentals, 8th Edition by John Wild Chapter 1-13 with appendix B&C A++

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SOLUTION MANUAL FOR Financial Accounting Fundamentals, 8th Edition by John Wild Chapter 1-13 with appendix B&C A++ ..

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  • October 2, 2024
  • 954
  • 2024/2025
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Created By: Irfan Ali


SOLUTION MANUAL FOR Financial Accounting

Fundamentals, 8th Edition by John Wild Chapter 1-13

with appendix B&C A++
Chapter 1: Accounting in Business

Quick Study 1-1 (10 minutes)

1. f Artificial Intelligence
2. c Recording
3. h Recordkeeping (bookkeeping)


Quick Study 1-2 (10 minutes)

a. External user g. External user
b. External user h. External user
c. External user i. Internal user
d. External user j. External user
e. Internal user k. External user
f. External user l. External user



Quick Study 1-3 (10 minutes)
4. Opportunity
1. Opportunity
5. Pressure
2. Pressure
6. Rationalization
3. Rationalization


Quick Study 1-4 (5 minutes)




1

,Created By: Irfan Ali




1. Principle 3. Assumption
2. Assumption 4. Principle
Quick Study 1-5 (10 minutes)




2

,Created by: A Solution



Attribute Present Proprietorship Partnership Corporation LLC
1. Business taxed no no yes no
2. Limited liability no no yes yes
3. Legal entity no no yes yes




Quick Study 1-6 (10 minutes)
1. Revenue recognition principle
2. Measurement (cost) principle
3. Business entity assumption



Quick Study 1-7 (5 minutes)

Assets = Liabilities + Equity
$700,000 (a) $280,000 $420,000
$500,000 (b) $250,000 (b) $250,000



Quick Study 1-8 (10 minutes)
1.

Assets = Liabilities + Equity
$75,000 (a) $35,000 $40,000
(b) $95,000 $25,000 $70,000
$85,000 $20,000 (c) $65,000

2.

+ Common
Assets = Liabilities Stock - Dividends + Revenues - Expenses

$40,000 $16,000 $20,000 $ 0 (a) $12,000 $ 8,000
$80,000 $32,000 $44,000 (b) $2,000 $24,000 $18,000
Quick Study 1-9 (5 minutes)

A+ Page 3

, Created by: A Solution


a. Increase
b. Decrease
c. Increase
d. Decrease



Quick Study 1-10 (15 minutes)

Assets = Liabilities + Equity
Account Account Commo
Cash + s = s + n - Dividends + Revenues - Expenses
Recble. Payable Stock
(a) $5,500 = $5,500
Consulti
ng
(b) + $4,000 = + 4,000
Commiss
ion
Bal. 5,500 + 4,000 = + 9,500

(c) -1,400 = - $1,400
Wages

Bal. 4,100 + 4,000 = + 9,500 - 1,400

(d) +1,000 + - 1,000 = -

Bal. 5,100 + 3,000 = + 9,500 - 1,400
(e) -700 + = - 700
Cleanin
g
Bal. $4,400 + $3,000 = + $9,500 - $2,100
Quick Study 1-11 (15 minutes)

Assets = Liabilitie + Equity
s
Acct Comm Div
Cash + Suppli + Equip. + Land = s. + on - i- + Rev - Exp
es Pay Stock dend . .
. s
(a) $15,000 = $15,000




A+ Page 4

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