Understanding Financial Accounting 3rd Canadian Edition by Christopher D. Burnley solution manual

 
Examples of Aritzia Inc.’s operating transactions:
1. Sale of retail inventory to customers
2. Payment of wages to employees
 
LO 4  BT: C  Difficulty: M Time: 15 min.  AACSB: None  CPA: cpa-t001  CM: Reporting
 
 
AP1-2B    Examples of Telus Corporation’s financing transactions:
Issuance of shares to investors to raise capital for the purchasing of property, plant and equipment and research and development.
Issuance of long-term debt to raise necessary capital invest in new technologies (such as wifi calling and hot spots)
 
Examples of Telus Corporation’s investing transactions:
Purchase of equipment for manufacturing operations
Selling of equipment used for manufacturing operations.
 
Examples of Telus Corporation’s operating transactions:
1. Sale of inventory to customers
2. Payment of wages to employees
 
LO 4  BT: C  Difficulty: M Time: 15 min.  AACSB: None  CPA: cpa-t001  CM: Reporting
 

AP1-3B    a. I
        b. I
        c. O
        d. F
        e. O
        f.  I
        g. F
 
 
LO 4  BT: AP  Difficulty: H Time: 10 min.  AACSB: None  CPA: cpa-t001  CM: Reporting
 
 
AP1-4B    
Wages payable is found on the statement of financial position and represents the amount that the company owes to the employees for time worked but not yet paid to the employees.
Wages expense is found on the on the statement of income and represents the amount of wages incurred (earned by the employees) during the period, whether paid or unpaid.  Wages payable represents a liability of the company and wages expense represents a use of the resources of the company.
The connection between these two accounts is that wages payable is created from wages expense for time that has been worked by the employees but has not yet been paid.
 
LO 5  BT: C  Difficulty: M Time: 15 min.  AACSB: None  CPA: cpa-t001  CM: Reporting
 
 
AP1-5B     a.  CL
      b. CA
      c. SI
      d. SCF
      e. CA
      f.  SI and SCE 
      g. SCF
      h. SCF 
      i.      SI
      j.  SI
      k. SCE and SCF
 
LO 5  BT: AP  Difficulty: M Time: 10 min.  AACSB: None  CPA: cpa-t001  CM: Reporting

AP1-6B      a.   NCA
      b. SI
      c. SCF
      d. CA
      e. CL and SCE
      f.  SI
      g. CL
      h. SI 
      i.      SI
      j.  CL and SCE
      k. SI
 
LO 5  BT: AP  Difficulty: H Time: 15 min.  AACSB: None  CPA: cpa-t001  CM: Reporting
 
 
AP1-7B    a. SFP
SI
SFP
SFP
SI
SI
N
SFP
SI
SFP
 
LO 5  BT: AP  Difficulty: M Time: 10 min.  AACSB: None  CPA: cpa-t001  CM: Reporting
 
 
AP1-8B    a. SFP
SI
N
SFP
SI
SFP
SFP
SFP
SI
SFP
 
LO 5  BT: AP  Difficulty: M Time: 10 min.  AACSB: None  CPA: cpa-t001  CM: Reporting

AP1-9B
                             A         B         C         D           
    Current Assets           $ 650,000    $420,0001     $150,000 $ 320,000
    Non-current Assets  1,150,0002       380,000      210,0003    760,000