Cunningham 1e Accounting: Information for Business Decisions Solutions Manual
Accounting for the operations of a business
The questions in this chapter are divided into three sections: Testing your knowledge: these questions are straightforward and are designed to help students assess their basic knowledge of a particular topic. Applying your knowledge: these questions ask students to use their basic knowledge to solve a particular problem. Making evaluations: these questions are more complex and ask students to integrate their knowledge of a particular topic or topics to make decisions. We have included the ‘Content analysis’ below to help instructors decide which applying your knowledge questions to assign. It briefly summarises the content of each question. We did not provide a content analysis for the making evaluations questions because of their lack of uniformity, and because of the multiple topics included in them.
Content analysis for applying your knowledge questions
4.23 The Accounting Equation. Determine the amounts of assets, liabilities, and owner’s equity under three scenarios. 4.24 Balancing Amounts. Determine the amounts of a business’ owner’s equity and liabilities 4.25 Balancing Amounts. Determine the business’ ending total liabilities, beginning total assets, and beginning owner’s equity. 4.26 Transaction Effects. Determine the effect of several transactions on assets, liabilities, and owner’s equity. 4.27 Balance Sheet. Using accounting records prepare a balance sheet and determine the balance of the owner’s equity account. 4.28 Balance Sheet. Using accounting records prepare a balance sheet for a business and determine the balance of the cash and owner’s equity account. 4.29 Dual Effect of Transactions. For six cases, describe transactions that will cause the changes in different elements of the accounting equation.