SOLUTIONS MANUAL

College Accounting, A practical Approach 15th Canadian Edition by Jeffrey Slater | INSTRUCTOR’S SOLUTIONS MANUAL

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The INSTRUCTOR’S SOLUTIONS MANUAL for 15th Canadian Edition of College Accounting: A Practical Approach by Jeffrey Slater, Mike Deschamps, and Debra Good covers foundational financial accounting concepts, the complete bookkeeping cycle, and specialized accounting procedures updated for Canadian tax and payroll regulations. [1, 2, 3]
The curriculum is structured to build skills progressively, moving from basic concepts to complex business structures: [1, 2]
The Accounting Cycle for a Service Business
  • Accounting Concepts and Procedures: An introduction to the basic elements of the accounting equation, assets, liabilities, and owner's equity.
  • Debits and Credits: Analyzing and recording business transactions into appropriate accounts.
  • Beginning the Accounting Cycle: Practical steps for journalizing, posting transactions to the ledger, and preparing a trial balance.
  • The Accounting Cycle Continued: Preparing necessary financial worksheets and financial statements.
  • The Accounting Cycle Completed: Processing closing entries and developing post-closing trial balances to wrap up a fiscal period. [1, 2]
Cash Management and Payroll Systems
  • Banking Procedures and Cash Control: Managing internal cash controls, petty cash, and reconciling bank statements. [1, 2, 3]
  • Payroll Procedures (The Employee's Perspective): Calculating gross and net pay, deductions, and understanding employee pay stubs based on Canadian standards. [1, 2]
  • The Employer's Payroll Responsibilities: Documenting and reporting employer-paid payroll taxes, including current Canada Pension Plan (CPP), Employment Insurance (EI), and income tax calculations. [1, 2, 3]
Merchandising and Special Ledgers
  • Special Journals and Subsidiary Ledgers: Streamlining records with specific focus on the Sales and Cash Receipts Journals.
  • Purchases and Cash Payments Journals: Efficiently tracking supplier invoices, credit terms, and cash payouts.
  • Completion of the Accounting Cycle for a Merchandising Company: Adapting basic cycle steps to product-based businesses.
  • Special Journals with Taxes: Integrating provincial and federal sales taxes (such as GST/HST/PST) into daily transaction journals.
  • Accounting for Bad Debts: Estimating and writing off uncollectible accounts receivable balances. [1, 2, 3, 4]

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