Understanding Financial Accounting 3rd Canadian Edition by Christopher D. Burnley solution manual
i. N
j. SFP
LO 5 BT: AP Difficulty: M Time: 10 min. AACSB: None CPA: cpa-t001 CM: Reporting
AP1-8A a. SFP
b. N
c. SFP
d. SI
e. SFP
f. SFP
g. SI
h. N
i. SI
j. SI
LO 5 BT: AP Difficulty: M Time: 10 min. AACSB: None CPA: cpa-t001 CM: Reporting
AP1-9A
A
B
C
D
Current Assets
$570,0001
$600,000
$180,000
$990,000
Non-current Assets
780,000
735,0002
390,000
660,0003
Total Assets
1,350,0004
1,335,000
570,0005
1,650,000
Current Liabilities
375,000
345,000
135,000
390,000
Non-current Liabilities
337,0006
330,000
105,0007
225,000
Shareholders’ Equity
638,000
660,0008
330,000
1,035,0009
Total Liabilities and Shareholders’ Equity
1,350,000
1,335,00010
570,00011
1,650,00012
1 $1,350,000 - $780,000 = $570,000
2 $1,335,000 - $600,000 = $735,000
3 $1,650,000 - $990,000 = $660,000
4 $1,350,000 = Total Liabilities and Shareholders’ Equity
5 $180,000 + $390,000 = $570,000
6 $1,350,000 - $638,000 -$375,000 = $337,000
7 $570,0005 - $330,000 -$135,000 = $105,000
8 $1,335,00010 (total assets) - $345,000 - $330,000 = $660,000
9 $1,650,00012 (total assets) - $390,000 - $225,000 = $1,035,000
10 $1,335,000 = Total Assets
11 $570,0005 = Total Assets
12 $1,650,000 = Total Assets
LO 5 BT: AP Difficulty: M Time: 20 min. AACSB: : Analytic CPA: cpa-t001 CM: Reporting
AP1-10A
A B C D
Retained Earnings
Dec. 31, 2023 $100,000 $420,000 $1,475,0001 $930,000
Net Earnings 40,000 160,0002 550,000 290,000
Dividends declared
and paid 10,000 50,000 225,000 140,0003
Retained Earnings
Dec. 31, 2024 130,0004 530,000 1,800,000 1,080,000
1 $1,800,000 - $550,000 + $225,000 = $1,475,000
2 $530,000 - $420,000 + $50,000 = $160,000
3 $930,000 + $290,000 - $1,080,000 = $140,000
4 $100,000 + $40,000 - $10,000 = $130,000
LO 5 BT: AP Difficulty: M Time: 15 min. AACSB: Analytic CPA: cpa-t001 CM: Reporting