Volume 2 is where introductory accounting stops being about recording and starts being about financing. Accounting Principles, Seventh Canadian Edition, Volume 2 by Jerry J. Weygandt moves into shares, dividends, bonds, investments and the cash flow statement, and the change catches out exactly the students who did well in the first term. The entries are no longer the difficult part. What is difficult is understanding why a company would issue debt rather than equity, what that choice does to the statements, and how an analyst reading those statements would describe the result.
Why this test bank helps
Conceptual chapters are deceptively readable. A section on bond issuance makes complete sense on the page and then collapses when a question gives you a stated rate, a market rate and asks what happens to the proceeds. Practice exposes that gap early, and the written rationale under each item rebuilds the reasoning — which rate drives the pricing, which account absorbs the difference, how the amortization then flows into interest expense over the term.
What’s inside
- Coverage of the Volume 2 chapters in the seventh Canadian edition’s own order.
- Computational and conceptual items, including the statement-preparation questions that carry the most marks.
- A written rationale under every question, showing the figures as well as the principle.
- Focused practice on the cash flow statement and financial statement analysis chapters.
- A single organized PDF, downloadable the moment checkout completes.
Topics covered
- Partnerships — formation, division of profit and loss, admission and withdrawal of partners, liquidation.
- Corporations — share issuance, common and preferred shares, cash and stock dividends, retained earnings.
- Additional corporate reporting — comprehensive income, earnings per share and the statement of changes in equity.
- Long-term liabilities — bonds issued above and below face value, effective-interest amortization, instalment notes.
- Investments — classification, amortized cost, fair value measurement and the equity method.
- The cash flow statement — operating, investing and financing activities under the indirect and direct methods.
- Financial statement analysis — horizontal and vertical analysis, liquidity, solvency and profitability ratios.
- IFRS and ASPE differences — presentation and measurement choices that vary by reporting framework.
Who it’s for
Second-term introductory accounting students at Canadian institutions using Volume 2 of the seventh Canadian edition, and students preparing to move into intermediate accounting who want the corporate reporting chapters secure first.
How to use it (the right way)
Treat the cash flow and analysis chapters as practice subjects rather than reading subjects: attempt questions before you feel ready, because the confusion is the information. Work closed-book, review every rationale, and redo missed items a week later. This is a study aid, to be used in line with your institution’s academic-integrity policy, as preparation rather than a shortcut around the coursework, and never taken into a graded assessment.
Sample question (shows the format — your download contains the full set)
Q. A company issues $500,000 of five-year bonds paying 6 percent when the market rate for similar bonds is 8 percent. The bonds will be issued:
- A. At face value
- B. Above face value
- C. Below face value
- D. At an amount that cannot be determined from this information
Answer: C. Investors will not accept 6 percent when the market pays 8 percent, so they pay less than face value and the shortfall raises their effective yield to the market rate. B happens in the opposite case, when the stated rate exceeds the market rate. A occurs only when the two rates are equal. D is wrong because the relationship between the two rates always determines the direction.
Edition & format
- Matches: Accounting Principles, Seventh Canadian Edition, Volume 2, by Jerry J. Weygandt (ISBN 9781119048473).
- Format: Digital PDF, delivered instantly after checkout.
- Access: Lifetime — re-download from your account whenever you need it.
Please confirm the volume, edition and ISBN above match your course before buying, since Volume 1 covers an entirely different set of chapters.
Frequently asked questions
Which volume is this? Volume 2 of the seventh Canadian edition, ISBN 9781119048473, covering the corporate reporting and analysis chapters. Volume 1 is listed on its own.
When is the file available? Straight after checkout, from the confirmation page and from your account thereafter.
Do computational questions show the numbers? Yes. Each rationale sets out the figures used as well as the principle applied.
Is a test bank acceptable to revise from? Used as practice it is an ordinary study resource. Follow your institution’s academic-integrity policy and never use it in a graded assessment.
Browse the rest of this subject in Accounting Test Banks.
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