Errors in Textbook

Errors in Textbook - Financial Accounting (Third Canadian...

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Financial Accounting (Third Canadian Edition) by Libby, Libby, Short, Kanaan, and Gowing Textbook Errata p. 47, Exhibit 2.1 The box labelled Constraints should consist of Cost / Benefit, Materiality, and Conservatism. These constraints are discussed in Chapter 6. P. 67, Self- Study Quiz 2-3 The signs shown for the assets are incorrect. It should read: Cash +300 Notes receivable -300 p. 115 The date in the first sentence should be April 30, 2007, rather than March 31, 2007. p. 166, Exhibit 4.4 The top headings in the table should read “Deferred Expenses” and “Accrued Expenses” rather than “Deferred Revenues” and Accrued Revenues.” p. 183 In the discussion of the Return on Equity ratio, the Comparisons over Time table should list Van Houtte Inc. as the company rather than Intrawest. p. 193 The solution to transaction c in question 7 of the Demonstration Case is incorrect. It should read: Assets: O, $38 Liabilities: NE Shareholders’ Equity: O, $38 Revenues: NE Expenses: U, $38 Net Income: O, $38 p. 193 The solution to Self-Study Quiz 4-3 for the net profit margin based on the unadjusted trial balance is incorrect. It should read: Income before income taxes = $76,300 - 58,210 = $18,090
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Errors in Textbook - Financial Accounting (Third Canadian...

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