Financial Accounting with International Financial Reporting Standards, 4th Edition Weygandt, Kimmel, Kieso 2019 Instructor Solution Manual
Financial Accounting
(Instructor Solution Manual)
Financial Accounting with International Financial Reporting Standards, 4th Edition Weygandt, Kimmel, Kieso 2019 Instructor Solution Manual
Edition:5th Edition
Author Name: Weygandt, Kimmel, Kieso
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CHAPTER 1
Accounting in Action
ASSIGNMENT CLASSIFICATION TABLE
Learning Objectives |
Questions |
Brief
Exercises |
Do It! |
Exercises |
Problems |
|||||
1. Identify the activities and users associated with accounting. | 1, 2, 3, 4, 5 | 1 | 1, 2 | |||||||
2. Explain the building blocks of accounting: ethics, principles, and assumptions. | 6, 7, 8, 9, 10 | 2 | 3, 4 | |||||||
3. State the accounting equation, and define its components. | 11, 12, 13, 22 | 1, 2, 3, 4, 5, 6 | 3 | 5 | 1 | |||||
4. Analyze the effects of business transactions on the accounting equation. | 14, 15, 16, 18 | 7, 8, 9 | 4 | 6, 7, 8 | 1, 2, 4, 5 | |||||
5. Describe the five financial statements and how they are prepared. | 17, 19, 20, 21 | 10, 11 | 5 | 9, 10, 11, 12, 13, 14, 15, 16, 17, 18 | 2, 3, 4, 5 |
ASSIGNMENT CHARACTERISTICS TABLE
Problem
Number |
Description |
Difficulty
Level |
Time Allotted (min.) | |||
1 | Analyze transactions and compute net income. | Moderate | 40–50 | |||
2 | Analyze transactions and prepare income statement, retained earnings statement, and statement of financial position. |
Moderate | 50–60 | |||
3 | Prepare income statement, retained earnings statement, and statement of financial position. |
Moderate | 50–60 | |||
4 | Analyze transactions and prepare financial statements. | Moderate | 40–50 | |||
5 | Determine financial statement amounts and prepare retained earnings statement. |
Moderate | 40–50 |
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