Quiz 1

CHAPTER 3

The Accounting Information System

ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC)

Brief

Topics Questions Exercises Exercises Problems

1. Transaction identification. 1, 2, 3, 5, 1, 2 1, 2, 3, 4, 17 1

6, 7, 8

2. Nominal accounts. 4, 7

3. Trial balance. 6, 10 2, 3, 4 1, 2, 7, 8

4. Adjusting entries. 8, 11, 13, 14 3, 4, 5, 6, 7, 5, 6, 7, 8, 1, 2, 3, 4,

8, 9, 10 9, 10, 20 5, 6, 7, 8,

9, 10, 12

5. Financial statements. 11, 12, 15, 1, 2, 4, 6

22, 23

6. Closing. 12 11 13, 14, 16 1, 4, 9,

10, 12

7. Inventory and cost 9 14, 15

of goods sold.

8. Comprehensive 1, 2, 6, 12

accounting cycle.

*9. Cash vs. Accrual Basis. 15, 16, 17 12 18, 19 11

*10. Reversing entries. 18 13 20

*11. Worksheet. 19 21, 22, 23 12

*These topics are dealt with in an Appendix to the Chapter.

Copyright © 2011 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 14/e, Solutions Manual (For Instructor Use Only) 3-1

ASSIGNMENT CLASSIFICATION TABLE (BY LEARNING OBJECTIVE)

Brief

Learning Objectives Exercises Exercises Problems

1. Understand basic accounting terminology.

2. Explain double-entry rules.

3. Identify steps in accounting cycle.

4. Record transactions in journals, post to ledger 1, 2, 3, 4, 1, 2, 3, 1, 4, 9, 10

accounts, and prepare a trial balance. 5, 6, 7 4, 17

5. Explain the reasons for preparing adjusting 3, 4, 5, 6, 7, 5, 6, 7, 8, 2, 3, 4, 5,

entries. 8, 9, 10 9, 10, 20 6, 7, 8, 9,

10, 12

6. Prepare financial statements from the adjusted 11, 12, 15 1, 2, 4, 6,

trail balance. 7, 8, 9,

10, 12

7. Prepare closing entries. 11 13, 14, 16 1, 4, 9,

10, 12

*8. Differentiate the cash basis of accounting from 12 18, 19 11

the accrual basis of accounting.

*9. Identify adjusting entries that may be reversed. 13 20

*10. Prepare a 10-column worksheet. 21, 22, 23 12

*These topics are dealt with in an Appendix to the Chapter.

3-2 Copyright © 2011 John Wiley & Sons, Inc. Kieso, Intermediate Accounting, 14/e, Solutions Manual (For Instructor Use Only)

ASSIGNMENT CHARACTERISTICS TABLE

Level of Time

Item Description Difficulty (minutes)

E3-1 Transaction analysis–service company. Simple 15–20

E3-2 Corrected trial balance. Simple 10–15

E3-3 Corrected trial balance. Simple 15–20

E3-4 Corrected trial balance. Simple 10–15