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Solutions Manual

for use with

VOLUME 2
Advanced
ACCOUNTING
Principles and Procedural Applications
2013 Edition

Pedro P. Guerrero
Jose F. Peralta
To The Instructor

This Solutions Manual contains suggested solutions to all the Multiple Choices and Problems
for the Advanced Accounting Principles and Procedural Applications, 2013 Edition.
Solutions have been prepared by the authors to ensure accuracy and consistency with the
discussion and illustration in the textbook.

Multiple Choices Computational


The multiple choices Computational are designed to cover a variety of conceptual situations
included in each chapter. Solving these should reinforce the students knowledge of
accounting and also test their understanding of the points covered. You may choose to assign
selected multiple choices to supplement the problems assigned in each chapter. Most of the
multiple choices require a limited amount of computations and are well suited for inclusion in
quizzes or examinations.

Problems
Problems have been provided at the end of each chapter more than you can reasonably use in
a single offering of the course. This abundance of problems allows you to vary problem
assignments in different sections of the course, or from semester to semester, and to choose
these problems that best fit the scope, level and emphasis of your course.

Final Note
The Solutions Manual intended to accompany this edition had been prepared carefully and
reviewed thoroughly to ensure that the instructors who adopt this textbook are provided with
all possible assistance in making their course effective. In the final analysis, however, any
given course is shaped primarily by the person who teaches it, and the success of our efforts
will be proven through extensive experience in the classroom. We will appreciate any
comments and suggestions from you no matter how minor the point involved. Please address
correspondence to Pedro P. Guerrero, CPAR Building, 837 F. Cayco st., Sampaloc, Metro
Manila or you may email me at ppg@pldtdsl.net.

P. P. Guerrero
J. F. Peralta
Contents

CHAPTER 12: Home Office and Branch General Procedures

CHAPTER 13: Home Office and Branch Special Problems

CHAPTER 14: Business Combination - PFRS 3

CHAPTER 15: Consolidated Statement of Financial Position Date


ofAcquisition

CHAPTER 16: Consolidated Financial Statements (PFRS 10) - Subsequent to


Date of Purchase Type of Business Combination.

CHAPTER 17: Inter-company Profit Transactions Inventories

CHAPTER 18: Inter-company Gain Transactions Plant Assets

CHAPTER 19: Accounting for Foreign Currency Transactions (PAS 21)

CHAPTER 20: Translation of Foreign Currency Financial Statements (PAS 21)

CHAPTER 21: New Government Accounting System for National Government


Agency (NGAAS)

CHAPTER 22: Nonprofit Organizations.