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ISBN 10:0133791009
ISBN 13:9780133791006
Author:Jeffrey Slater
Fundamental Accounting Principles College Accounting: A Practical Approach provides a strong foundation in the basics of accounting. The material is organized in a clear, easy-to-follow format, and each chapter contains a plethora of learning tools and practice materials to help students immediately put their skills to use. The Thirteenth Edition stays current with modern accounting tools and techniques and includes new computer workshops using Sage 50 and QuickBooks. Students are also introduced to new trends in banking technology and updated tax information. Also available with MyAccountingLab This title is also available with MyAccountingLab – an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.
College Accounting A Practical Approach 13th Table of contents:
Chapter 1 Accounting Concepts and Procedures
Learning Objectives
Learning Unit 1-1 Accounting, Business, and the Accounting Equation
Types of Business Organizations
Sole Proprietorship.
Partnership.
Corporation.
Limited Liability Company (LLC).
Classifying Business Organizations
Definition of Accounting
Computer Software and the Bookkeeper
The Accounting Equation: Assets, Liabilities, and Equities
Assets.
Equities.
Relationship between Assets and Equities.
Liabilities.
Basic Accounting Equation.
Importance of Creditors.
Shift in Assets.
TRY IT! Learning Unit 1-1
Learning Unit 1-2 The Balance Sheet
Points to Remember in Preparing a Balance Sheet
The Heading.
Use of the Dollar Sign.
Distinguishing the Total.
TRY IT! Learning Unit 1-2
Learning Unit 1-3 The Accounting Equation Expanded: Revenue, Expenses, and Withdrawals
Revenue
Expenses
Net Income/Net Loss
Withdrawals
Expanded Accounting Equation
Subdivision of Owner’s Equity.
Mia Wong’s Expanded Accounting Equation.
TRY IT! Learning Unit 1-3
Learning Unit 1-4 The Three Financial Statements
The Income Statement
Points to Remember in Preparing an Income Statement
Heading.
The Setup.
The Statement of Owner’s Equity
The Balance Sheet
Main Elements of the Income Statement, the Statementof Owner’s Equity, and the Balance Sheet
TRY IT! Learning Unit 1-4
Demonstration Summary Problem
Solutions
Requirement 1
Tips to Expanded Accounting Equation
Solution to Recording Transactions into Expanded Accounting Equation
Solutions to Preparing Financial Statements
Tips to Preparing Financial Statements
Blueprint: Financial Statements
CHAPTER 1 Accounting Coach
LU 1-1 Accounting, Business, and the Accounting Equation
Pre-Game Tips:
Pre-Game Checkup:
LU 1-2 The Balance Sheet
Pre-Game Tips:
Pre-Game Tips:
LU 1-3 The Accounting Equation Expanded: Revenue, Expenses, and Withdrawals
Pre-Game Tips:
Pre-Game Checkup:
LU 1-4 The Balance Sheet
Pre-Game Tips:
Pre-Game Checkup:
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
On the Job Smith Computer Center
Assignment
Chapter 2 Debits and Credits: Analyzing and Recording Business Transactions
2.1 Learning Unit 2-1 The T Account and How to Foot and Balance
2.1.1 Balancing an Account
TRY IT! Learning Unit 2-1
2.2 Learning Unit 2-2 The Chart of Accounts: Recording Transactions in T Accounts According to Rules of Debits and Credits
2.2.1 T Account Entries for Accounting in the Accounting Equation
2.2.1.1 Rules for Assets Work in the Opposite Direction to Those for Liabilities.
2.2.1.2 Balancing the Equation.
2.2.1.3 Chart of Accounts.
2.2.2 The Transaction Analysis: Five Steps
2.2.3 Applying the Transaction Analysis to Mia Wong’s Law Practice
2.2.3.1 Analysis of Transaction A
2.2.3.2 Analysis of Transaction B
2.2.3.3 Analysis of Transaction C
2.2.3.4 Analysis of Transaction D
2.2.3.5 Analysis of Transaction E
2.2.3.6 Analysis of Transaction F
2.2.3.7 Analysis of Transaction G
2.2.3.8 Analysis of Transaction H
2.2.3.9 Analysis of Transaction I
2.2.3.10 Analysis of Transaction J
TRY IT! Learning Unit 2-2
2.3 Learning Unit 2-3 The Trial Balance and Preparation of Financial Statements
2.3.1 The Trial Balance
2.3.2 Preparing Financial Statements
TRY IT! Learning Unit 2-3
Demonstration Summary Problem
Solutions
Requirement 1,2,3,4
Tips to Recording Transactions
Tips to Journalizing and Posting Transactions
Requirement 5
Tips to Prepare Financial Statements from a Trial Balance
Blueprint: Preparing Financial Statements From A Trial Balance
CHAPTER 2 Accounting Coach
LU 2-1 The T Account and How to Foot and Balance
Pre-Game Checkup:
LU 2-2 The Chart of Accounts: Recording Transactions in T Accounts According to Rules of Debits and Credits
Pre-Game Checkup:
LU 2-3 The Trial Balance and Preparation of Financial Statements
Pre-Game Checkup:
Lu 2-1
Lu 2-2
Lu 2-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
On the Job
Chapter 3 Beginning the Accounting Cycle
Learning Objectives
Learning Unit 3-1 Analyzing and Recording Business Transactions into a Journal (Steps 1 and 2 of the Accounting Cycle)
The General Journal
Relationship between the Journal and the Chart of Accounts.
Journalizing the Transactions of Mel’s Computer Repair Service.
TRY IT! Learning Unit 3-1
Learning Unit 3-2 Posting to the Ledger (Step 3 of the Accounting Cycle)
Posting
Using Posting References.
TRY IT! Learning Unit 3-2
Learning Unit 3-3 Preparing the Trial Balance (Step 4 of the Accounting Cycle)
What to Do if a Trial Balance Doesn’t Balance
Some Common Mistakes
Making a Correction Before Posting
Correcting an Error in an Account Title.
Correcting a Numerical Error.
Correcting an Entry Error.
Making a Correction After Posting
Correcting an Entry Posted to the Wrong Account
TRY IT! Learning Unit 3-3
Demonstration Summary Problem
Solutions
Requirements 1, 2, 3
Tips to Journalizing
Tips for the General Ledger
Requirement 4
Solution to Preparing a Trial Balance
Blueprint of First Four Steps of Accounting Cycle
CHAPTER 3 Accounting Coach
LU 3-1 Analyzing and Recording Business Transactions into a Journal (Steps 1 and 2 of the Accounting Cycle)
Pre-Game Checkup:
LU 3-2 Posting to the Ledger (Step 3 of the Accounting Cycle)
Pre-Game Checkup:
LU 3-3 Preparing the Trial Balance (Step 4 of the Accounting Cycle)
Pre-Game Checkup:
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
ON the JOB Smith Computer Center
Assignment
Sage 50 Computer Workshop
Computerized Accounting Application for Chapter 3
Preparing to use Sage 50 Complete Accounting
Workshop 1:
Quickbooks Computer Workshop
Computerized Accounting Application for Chapter 3 Preparing to use QuickBooks Accountant
Workshop 1:
Chapter 4 The Accounting Cycle Continued
Learning Objectives
Learning Unit 4-1 Explaining Adjustments and How to Record Them on a Worksheet
The Trial Balance Section
The Adjustments Section
A. Adjusting the Computer Supplies Account.
B. Adjusting the Prepaid Rent Account.
C. Adjusting the Computer Equipment Account for Depreciation.
D. Adjusting the Salaries Accrued Account.
TRY IT! Learning Unit 4-1
Learning Unit 4-2 The Worksheet (Step 5 of the Accounting Cycle)
The Adjusted Trial Balance
The Income Statement Section
The Balance Sheet Section
TRY IT! Learning Unit 4-2
Adjustment Data
Learning Unit 4-3 The Financial Statements from the Worksheet (Step 6 of the Accounting Cycle)
Preparing the Income Statement
Preparing the Statement of Owner’s Equity
Preparing the Balance Sheet
TRY IT! Learning Unit 4-3
Demonstration Summary Problem
Adjustment Data
Requirements
Solutions
Requirement 1
Tips for Adjustments
Requirement 2
Tips for Preparing Financial Statements from a Worksheet
Blueprint of Steps 5 and 6 of the Accounting Cycle
CHAPTER 4 Accounting Coach
LU 4-1 Explaining Adjustments and How to Record Them on a Worksheet
LU 4-2 The Worksheet (Step 5 of the Accounting Cycle)
LU 4-3 The Financial Statements from the Worksheet (Step 6 of the Accounting Cycle)
LU 4-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Check
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
ON the JOB Smith Computer Center
Assignment
SAGE 50 Computer Workshop
Computerized Accounting Application for Chapter 4
Refresher on using Sage 50 Complete Accounting
Workshop 2:
QUICKBOOKS Computer Workshop
Computerized Accounting Application for Chapter 4
Refresher on using QuickBooks Accountant
Workshop 2:
Chapter 5 The Accounting Cycle Completed
Learning Objectives
Learning Unit 5-1 Adjusting Entries (Step 7 of the Accounting Cycle)
Recording Journal Entries from the Worksheet
Adjustment (A)
Adjustment (B)
Adjustment (C)
Adjustment (D)
TRY IT! Learning Unit 5-1
Learning Unit 5-2 Closing Entries (Step 8 of the Accounting Cycle)
How to Journalize Closing Entries
Step 1: Clear Revenue Balance and Transfer to Income Summary.
Step 2: Clear Individual Expense Balances and Transfer the Total to Income Summary.
Step 3: Clear Balance in Income Summary (Net Income) and Transfer It to Capital.
Step 4: Clear the Withdrawals Balance and Transfer It to Capital.
Insight into Closing in a Computerized System
TRY IT! Learning Unit 5-2
Learning Unit 5-3 The Post-Closing Trial Balance (Step 9 of the Accounting Cycle)
Preparing a Post-Closing Trial Balance
The Accounting Cycle Reviewed
Insight.
TRY IT! Learning Unit 5-3
Demonstration Summary Problem
Solutions
Requirement 1
Tips to Journalizing and Posting Transactions
Requirement 2
Tips to the Trial Balance and Completion of the Worksheet
Adjustments
Requirement 3
Tips to Preparing the Financial Statements
Requirement 4
Tips to Journalizing and Posting Adjusting and Closing Entries
Adjustments
Closing
Goals
Steps in the Closing Process
Tips for the Post-Closing Trial Balance
Blueprint of Closing Process From The Worksheet
Chapter 5 Accounting Coach
LU 5-1 Adjusting Entries (Step 7 of the Accounting Cycle)
LU 5-2 Closing Entries (Step 8 of the Accounting Cycle)
LU 5-3 The Post-Closing Trial Balance (Step 9 of the Accounting Cycle)
LU 5-1
LU 5-2
LU 5-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
On the Job Smith Computer Center
Mini Practice Set Sousa Realty
Reviewing the Accounting Cycle Twice
Required Work for September
Required Work for October
Sage 50 Computer Workshop Computerized Accounting Application for Chapter 5 Refresher on using Sage 50 Complete Accounting
Workshop 3:
Quickbooks Computer Workshop Computerized Accounting Application for Chapter 5 Refresher on using QuickBooks Accountant
Workshop 3:
Chapter 6 Banking Procedures and Control of Cash
6.1 Learning Unit 6-1 Banking Procedures and Checking Accounts
Opening a Checking Account
Check Endorsement
The Checkbook
Monthly Recordkeeping: The Bank’s Statement of Account and In-Company Records
TRY IT! Learning Unit 6-1
Learning Unit 6-2 The Bank Reconciliation Process
6.2.1
Deposits in Transit.
Outstanding Checks.
Service Charges.
Nonsufficient Funds.
Trends in Banking
Advantages of Online Banking.
Disadvantages of Online Banking.
Check Truncation (Safekeeping).
Example of a More Comprehensive Bank Statement.
TRY IT! Learning Unit 6-2
6.3 Learning Unit 6-3 The Establishment of Petty Cash and Change Funds
6.3.1 Setting Up the Petty Cash Fund
Making Payments from the Petty Cash Fund
6.3.3 How to Replenish the Petty Cash Fund
6.3.4 Setting Up a Change Fund and Insight into Cash Short and Over
Cash Short and Over
Example 1: Shortages and Overages in Sales.
Example 2: Cash Short and Over in Petty Cash.
TRY IT! Learning Unit 6-3
Demonstration Summary Problem
Blueprint: A Bank Reconciliation
Chapter 6 Accounting Coach
LU 6-1 Banking Procedures and Checking Accounts
Pre-Game Checkup:
LU 6-2 The Bank Reconciliation Process
Pre-Game Checkup:
LU 6-3 The Establishment of Petty Cash and Change Funds
Pre-Game Checkup:
Lu 6-1
Lu 6-2
Lu 6-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
ON the JOB Smith Computer Center
Assignment
Smith Computer Center Summary of Deposits and Checks
Bank Statement
Bank Statement
Bank Statement
Chapter 7 Calculating Pay and Recording Payroll Taxes: The Beginning of the Payroll Process
Learning Objectives
Learning Unit 7-1 Gross Pay, Employee Payroll Tax Deductions for Federal Income Tax Withholding, State Income Tax Withholding, FICA (OASDI, Medicare), and Net Pay
Gross Earnings
Federal Income Tax Withholding
State Income Tax Withholding
Other Income Tax Withholding
Employee Withholding for FICA Taxes
Other Withholdings (Voluntary Deductions)
Net Pay
TRY IT! Learning Unit 7-1
Learning Unit 7-2 Preparing a Payroll Register and Maintaining an Employee Earnings Record
The Payroll Register
The Employee Earnings Record
TRY IT! Learning Unit 7-2
Learning Unit 7-3 Employer Taxes for FICA (OASDI, Medicare), FUTA, SUTA, and Workers’ Compensation Insurance
Employer Payment for FICA Taxes
FUTA and SUTA
Workers’ Compensation Insurance
TRY IT! Learning Unit 7-3
Learning Unit 7-4 The Payroll Register, Employer Tax Liability, and Workers’ Compensation Insurance
Recording Payroll
Recording Payroll Tax Expense
Recording Workers’ Compensation Expense
TRY IT! Learning Unit 7-4
Demonstration Summary Problem
Solutions
Requirement 1
Requirement 2
Requirement 3
Blueprint for Recording Transactions in a Payroll Register
CHAPTER 7 Accounting Coach
LU 7-1 Gross Pay, Employee Payroll Tax Deductions for Federal Income Tax Withholding, State Income Tax Withholding, FICA (OASDI, Medicare), and Net Pay
Pre-Game Checkup:
LU 7-2 Preparing a Payroll Register and Maintaining an Employee Earnings Record
Pre-Game Checkup:
LU 7-3 Employer Taxes for FICA (OASDI, Medicare), FUTA, SUTA, and Workers’ Compensation Insurance
Pre-Game Checkup:
LU 7-4 The Payroll Register, Employer Tax Liability, and Workers’ Compensation Insurance
Pre-Game Checkup:
LU 7-1
LU 7-2
LU 7-3
LU 7-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Check
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
ON THE JOB Smith Computer Center
Assignment
Chapter 8 Paying the Payroll, Depositing Payroll Taxes, and Filing the Required Quarterly and Annual Tax Forms: The Conclusion of the Payroll Process
Learning Objectives
Learning Unit 8-1 Payroll and Depositing Taxes
Transferring Funds to the Payroll Account and Distributing the Paychecks
Depositing Payroll Taxes
General Rules for Determining a Depositor Classification
General Rules for Depositing Payroll Taxes
Tax Deposit Exceptions
TRY IT! Learning Unit 8-1
Learning Unit 8-2 Quarterly Reports for Federal and State Governments
Form 941
Additional Quarterly Requirements
State Unemployment Tax (SUTA).
Federal Unemployment Tax (FUTA).
TRY IT! Learning Unit 8-2
Learning Unit 8-3 Annual Reports, Forms W-2 and W-3
Preparing Form 940 and Remitting Unpaid Liability
Preparing Form W-2: Wage and Tax Statement
Preparing Form W-3: Transmittal of Income and Tax Statements
Other Annual Reporting Requirements
TRY IT! Learning Unit 8-3
Demonstration Summary Problem
Solutions
Requirement 1
Computations
Solution
Requirement 2
Requirement 3
Requirement 4
Blueprint: Form 941 Tax Deposit Rules Ten Frequently Asked Questions and Answers About Depositing OASDI, Medicare, and FIT to the Government
CHAPTER 8 Accounting Coach
LU 8-1 Payroll and Depositing Taxes
Pre-Game Checkup:
LU 8-2 Quarterly Reports for Federal and State Governments
Pre-Game Checkup:
LU 8-3 Annual Reports, Forms W-2 and W-3
Pre-Game Checkup:
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Check
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
ON THE JOB Smith Computer Center
Assignment
Sage 50 Computer Workshop
Computerized Accounting Application for Chapter 8 Refresher on using Sage 50 Complete Accounting
Workshop 4:
Quickbooks Computer Workshop
Computerized Accounting Application for Chapter 8 Refresher on using QuickBooks Accountant
Workshop 4: Payroll Mini Practice Set
Chapter 9 Sales and Cash Receipts
Learning Objectives
Learning Unit 9-1 Chou’s Toy Shop: Entries for Sales, Sales Discounts, and Sales Returns and Allowances
Gross Sales
Sales Returns and Allowances
Sales Discount
Sales Discount Policies
Sales Tax Payable
TRY IT! Learning Unit 9-1
Learning Unit 9-2 Subsidiary Ledgers and General Ledger Sales Transactions and Returns
Accounts Receivable Subsidiary Ledgers
Posting and Recording Sales Transactions.
The Credit Memorandum
Journalizing, Recording, and Posting the Credit Memorandum
TRY IT! Learning Unit 9-2
Learning Unit9-3 Cash Receipt Transactions and Preparation of Schedule of Accounts Receivable
Schedule of Accounts Receivable
TRY IT! Learning Unit 9-3
Demonstration Summary Problem
Solutions
Requirements 1, 2, 3
Tips for Journalizing Transactions and Posting to the Accounts Receivable Subsidiary Ledger and General Ledger
Tips for Preparing a Schedule of Accounts Receivable
Blueprint: Transferring Information From the General Journal
Learning Unit 9-2
Learning Unit 9-3
CHAPTER 9 Accounting Coach
LU 9-1 Chou’s Toy Shop: Entries for Sales, Sales Discounts, and Sales Returns and Allowances
Pre-Game Checkup:
LU 9-2 Subsidiary Ledgers and General Ledger Sales Transactions and Returns
Pre-Game Checkup:
LU 9-3 Cash Receipt Transactions and Preparation of Schedule of Accounts Receivable
Pre-Game Checkup:
LU 9-2
LU 9-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Required
Required
Required
Required
Set B
Required
Required
Required
Required
Financial Report Problem
Reading the Kellogg’s Annual Report
ON the JOB Smith Computer Center
Assignment
Chapter 10 Purchases and Cash Payments
Learning Unit 10-1 Purchases Transactions, Including Freight
Purchases
Purchases Returns and Allowances
Purchases Discount.
TRY IT! Learning Unit 10-1
Learning Unit 10-2 Journalizing and Recording Transactions to the Accounts Payable Subsidiary Ledger and Posting to the General Ledger Along with a Debit Memorandum
10.2.1
Step 1: Prepare a Purchase Requisition at Art’s Wholesale Clothing Company.
Step 2: Purchasing Department of Art’s Wholesale Clothing Company Prepares a Purchase Order.
Step 3: Sales Invoice Prepared by Abby Blake Company.
Step 4: Receiving the Goods.
Step 5: Verifying the Numbers.
Accounts Payable Subsidiary Ledger
Posting and Recording Purchases Transactions.
Debit Memorandum
Journalizing and Posting the Debit Memo.
TRY IT! Learning Unit 10-2
Learning Unit 10-3 Cash Payments Transactions and Schedules of Accounts Payable
TRY IT! Learning Unit 10-3
Learning Unit 10-4 Journalizing Transactions for a Perpetual Inventory System
Introduction to the Merchandise Cycle
What Inventory System Walmart Uses
Recording Merchandise Transactions
Walmart: The Buyer.
Recording Purchases Returns and Allowances.
Recording Purchase Discounts.
Recording Cost of Freight.
Walmart: The Seller.
Recording Sales at Walmart.
How Walmart Records Sales Returns Allowances and Sales Discounts.
TRY IT! Learning Unit 10-4
Demonstration Summary Problem
Solutions
Requirement 1
Tips for Journalizing, Posting, and Recording the Transactions for a Periodic System
Requirement 2
Tip for Preparing a Schedule of Accounts Payable
Requirement 3
Tips for Journalizing the Same Transactions Using the Perpetual System
Blueprint: Periodic versus Perpetual Accounts Used for Journal Entries
Learning Unit 10-1
Learning Unit 10-2
Learning Unit 10-3
Learning Unit 10-4
10 Accounting Coach
LU 10-1 Purchases Transactions, Including Freight
Pre-Game Checkup:
LU 10-2 Journalizing and Recording Transactions to the Accounts Payable Subsidiary Ledger and Posting to the General Ledger Along with a Debit Memorandum
Pre-Game Checkup:
LU 10-3 Cash Payments Transactions and Schedules of Accounts Payable
Pre-Game Checkup:
LU 10-4 Journalizing Transactions for a Perpetual Inventory System
Pre-Game Checkup:
Lu 10-1
Lu 10-2
Lu 10-3
Lu 10-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Assignment
Set B
Assignment
Financial Report Problem
Reading the Kellogg’s Annual Report
ON the Job Smith Computer Center
Assignment
Sage 50 Computer Workshop Computerized Accounting Application for Chapter 10 Refresher on using Sage 50 Complete Accounting
Workshop 5:
Part A:
Part B:
Quickbooks Computer Workshop Computerized Accounting Application for Chapter 10 Refresher on using QuickBooks Accountant
Workshop 5:
Part A:
Part B:
Appendix A
Demonstration Summary Problem
Journalizing Transactions to Special Journals*; Posting to Subsidiary and General Ledger Accounts from Special Journals: A Periodic Approach
Requirements
Solutions
Requirement 1
Requirement 2
Appendix Problems (Assume Periodic Method) appA
Required
Required
Sales and Cash Receipts Journal Using a Perpetual Inventory System for Art’s Wholesale Clothing
Chapter 11 Preparing a Worksheet for a Merchandise Company
Learning Objectives
Learning Unit 11-1 Adjustments for Merchandise Inventory, Unearned Rent, Supplies Used, Insurance Expired, Depreciation Expense, and Salaries Accrued
Learning Unit 11-2 Worksheets for Merchandise Companies
Demonstration Summary Problem
Tips for Adjustments
Solutions
Tip to Complete a Worksheet
Blueprint: A Worksheet for a Merchandise Company
CHAPTER 11 Accounting Coach
LU 11-1 Adjustments for Merchandise Inventory, Unearned Rent, Supplies Used, Insurance Expired, Depreciation Expense, and Salaries Accrued
Pre-Game Checkup:
LU 11-2 Worksheets for Merchandise Companies
Pre-Game Checkup:
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
ON THE JOB Smith Computer Center
Assignment
Supplies
Merchandise Inventory
Depreciation of Computer Equipment
Depreciation of office Equipment
Expiration of Prepaid Rent
Chapter 12 Completion of the Accounting Cycle for a Merchandise Company
Learning Unit 12-1 Financial Statements for Merchandise Companies
The Income Statement
Revenue Section: Net Sales.
Cost of Goods Sold Section.
Gross Profit.
Operating Expenses Section.
Operating Expenses
Other Income (or Other Revenue) Section.
Other Expenses Section.
Statement of Owner’s Equity.
The Balance Sheet
TRY IT! Learning Unit 12-1
Learning Unit 12-2 Adjusting and Closing Entries and the Post-Closing Trial Balance for a Merchandise Company
Journalizing and Posting Adjusting Entries
Journalizing and Posting Closing Entries
The Post-Closing Trial Balance
TRY IT! Learning Unit 12-2
Learning Unit 12-3 Reversing Entries (Optional Section)
TRY IT! Learning Unit 12-3
Demonstration Summary Problem
Solutions
Requirement 1
Requirement 2
Tips for Adjusting and Closing Entries
Blueprint: Financial Statements
Learning Unit 12-1
Learning Unit 12-2
Learning Unit 12-3
Accounting Coach 12
LU 12-1 Financial Statements for Merchandise Companies
Pre-Game Checkup:
LU 12-2 Adjusting and Closing Entries and the Post-Closing Trial Balance for a Merchandise Company
Pre-Game Checkup:
LU 12-3 Reversing Entries (Optional Section)
Pre-Game Checkup:
Lu 12-1
Lu 12-2
Lu 12-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
On The Job Smith Computer Center
Mini Practice Set The Elegant Dress Shop
Sage 50 Computer Workshop Computerized Accounting Application for Chapter 12 Refresher on using Sage 50 Complete Accounting
Workshop 6:Accounting Cycle for a Merchandising Company
Quickbooks Computer Workshop Computerized Accounting Application for Chapter 12 Refresher on using QuickBooks Accountant
Workshop 6:
Accounting Cycle for a Merchandising Company
Chapter 13 Accounting for Bad Debts
Learning Objectives
Learning Unit 13-1 Accrual Accounting and Journalizing Bad Debts Transactions
Writing Off an Account Deemed Uncollectible
TRY IT! Learning Unit 13-1
Learning Unit 13-2 The Allowance Method
The Income Statement Approach
The Balance Sheet Approach
Aging of Accounts Receivable.
TRY IT! Learning Unit 13-2
Learning Unit 13-3 Writing Off and Recovering Uncollectible Accounts
Writing Off an Account Using the Allowance for Doubtful Accounts
Recording Recovered Debts Using Allowance for Doubtful Accounts.
The Direct Write-Off Method
Recording Recovered Debts Using the Direct Method.
TRY IT! Learning Unit 13-3
Demonstration Summary Problem
Requirements
Solutions for Income Statement and Aging of Accounts Receivable Methods
Requirement 1
Requirement 2
Requirement 3
Blueprint: Allowance Method by Income and Balance Sheet Approach
Learning Unit 13-1
Learning Unit 13-2
Learning Unit 13-3
Chapter 13 Accounting Coach
LU 13-1 Accrual Accounting and Journalizing Bad Debts Transactions
Pre-Game Checkup:
LU 13-2 The Allowance Method
Pre-Game Checkup:
LU 13-3 Writing Off and Recovering Uncollectible Accounts
Pre-Game Checkup:
lu 13-1
lu 13-2
lu 13-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Categorizing Accounts
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
On the Job Smith Computer Center
Assignment
Chapter 14 Notes Receivable and Notes Payable
Learning Unit 14-1 Interest Calculations and Determining Maturity Dates on Notes
How to Calculate Interest
How to Determine Maturity Date
Maturity Date Determined by Exact Days.
Maturity Date Determined by Number of Months.
TRY IT!Learning Unit 14-1
Learning Unit 14-2 Journalizing Entries to Record Notes
Sale of Merchandise on Account
Time Extension with a Note.
Note Due and Paid at Maturity
Note Renewed at Maturity
Dishonored Note
Note Given in Exchange for Equipment Purchased
TRY IT! Learning Unit 14-2
Learning Unit 14-3 Journalizing Entries to Discount a Note
How to Discount an Interest-Bearing Note Receivable
Procedure When a Discounted Note Is Dishonored
TRY IT! Learning Unit 14-3
Learning Unit 14-4 Adjustments for Interest Expense and Interest Income
Discounting One’s Own Note
Interest: The Need for Adjustments
TRY IT! Learning Unit 14-4
DemonstRation Summary Problem Requirement
Solutions
Tips for Journalizing Notes and Interest
Blueprint: Notes Payable and Notes Receivable
Learning Unit 14-1
Learning Unit 14-2
Learning Unit 14-3
Learning Unit 14-4
Chapter 14 Accounting Coach
LU 14-1 Interest Calculations and Determining Maturity Dates on Notes
Pre-Game Checkup:
LU 14-2 Journalizing Entries to Record Notes
Pre-Game Checkup:
LU 14-3 Journalizing Entries to Discount a Note
Pre-Game Checkup:
LU 14-4 Adjustments for Interest Expense and Interest Income
Pre-Game Checkup:
Lu 14-1
Lu 14-2
Lu 14-3
Lu 14-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
On the Job Smith Computer Center
Assignment
Chapter 15 Accounting for Merchandise Inventory
Learning Unit 15-1 Transactions for a Perpetual and Periodic Inventory System
Comparison of the Perpetual and Periodic Inventory Systems
TRY IT! Learning Unit 15-1
Learning Unit 15-2 Using a Subsidiary Ledger for Inventory; Calculating Cost of Ending Inventory Using a Perpetual System
TRY IT! Learning Unit 15-2
Learning Unit 15-3 Inventory Methods to Calculate Ending Inventory in a Periodic System
Specific Invoice Method
First-In, First-Out Method (FIFO)
Last-In, First-Out Method (LIFO)
Weighted-Average Method
When Can an Inventory Method Be Changed?
Items That Should Be Included in the Cost of Inventory
Goods in Transit.
Merchandise on Consignment.
Damaged or Obsolete Merchandise.
TRY IT! Learning Unit 15-3
Learning Unit 15-4 Estimating Ending Inventory by the Retail and Gross Profit Methods
Retail Method
Gross Profit Method
How Incorrect Calculation of Ending Inventory Affects Financial Statements.
TRY IT! Learning Unit 15-4
Demonstration Summary Problem
Solutions
Requirement 1
Tips for Journalizing Perpetual Transactions
Requirement 2
Tips for Calculating Inventory Methods in a Periodic System
Blueprint: Methods of Determining the Value of Inventory
Chapter 15 Accounting Coach
LU 15-1 Transactions for a Perpetual and Periodic Inventory System
Pre-Game Checkup:
LU 15-2 Using a Subsidiary Ledger for Inventory; Calculating Cost of Ending Inventory Using a Perpetual System
Pre-Game Checkup:
LU 15-3 Inventory Methods to Calculate Ending Inventory in a Periodic System
Pre-Game Checkup:
LU 15-4 Estimating Ending Inventory by the Retail and Gross Profit Methods
Pre-Game Checkup:
lu 15-1
lu 15-2
lu 15-3
lu 15-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
ON the JOB Smith Computer Center
Assignment
Sage 50 Computer Workshop Computerized Accounting Application for Chapter 15 Refresher on using Sage 50 Complete Accounting
Workshop 7:
Perpetual Inventory System
Quickbooks Computer Workshop Computerized Accounting Application for Chapter 15 Refresher on using QuickBooks Accountant
Workshop 7:
Perpetual Inventory System
Chapter 16 Accounting for Property, Plant, Equipment, and Intangible Assets
Learning Unit 16-1 Calculating the Cost of Property, Plant, and Equipment
Land and Land Improvements
Buildings
TRY IT! Learning Unit 16-1
Learning Unit 16-2 Depreciation Methods
Straight-Line Method
Units-of-Production Method
Double Declining-Balance Method
Depreciation for Partial Years
Straight-Line Method.
Units-of-Production Method.
Double Declining-Balance Method.
Depreciation for Tax Purposes: Modified Accelerated Cost Recovery System (MACRS), Including the Tax Act of 1989
The Tax Act of 1989
TRY IT!Learning Unit 16-2
16.3 Learning Unit 16-3 Journalizing Entries for Capital and Revenue Expenditures and Disposal of Plant Assets
Capital Expenditures
Revenue Expenditures
Disposal of Plant Assets
A. Disposal by Discarding Plant Assets.
16.3.3.1.1 Situation 1: No Gain or Loss.
16.3.3.1.2 Situation 2: Loss on Disposal.
16.3.3.1.3 Situation 3: Loss from Fire.
B. Disposal by Selling Plant Assets
16.3.3.2.1 Situation 4: Gain on Sale.
16.3.3.2.2 Situation 5: Loss on Sale.
C. Disposal by Exchanging for Similar Plant Assets
16.3.3.3.1 Situation 6: Loss on Exchange.
16.3.3.3.2 Situation 7: Gain Is Absorbed into Cost of New Machine.
16.3.3.3.3 Situation 8: Loss Is Absorbed in Cost of New Asset.
TRY IT! Learning Unit 16-3
Learning Unit 16-4 Transactions for Natural Resources and Intangible Assets
Intangible Assets and the Concept of Impairment
Patents.
Copyrights.
Franchises.
Goodwill.
Accounting for the Impairment of an Intangible Asset.
TRY IT! Learning Unit 16-4
Demonstration Summary Problem Requirements
Solutions
Requirement 1
Requirement 2
Requirement 3
Tips for Calculating Cost of Asset and Depreciation Methods
Blueprint: Key Accounts
Chapter 16 Accounting Coach
LU 16-1 Calculating the Cost of Property, Plant, and Equipment
Pre-Game Checkup:
LU 16-2 Depreciation Methods
Pre-Game Checkup:
LU 16-3 Journalizing Entries for Capital and Revenue Expenditures and Disposal of Plant Assets
Pre-Game Checkup:
LU 16-4 Transactions for Natural Resources and Intangible Assets
Pre-Game Checkup:
Lu 16-1
Lu 16-2
Lu 16-3
Lu 16-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 17 Partnership
Learning Unit 17-1 Journalizing Entries to Form a Partnership
Characteristics of Partnerships
Limited Life.
Mutual Agency.
Unlimited Liability.
Co-ownership of Property.
Taxation.
Formation of a Partnership
TRY IT! Learning Unit 17-1
Learning Unit 17-2 Journalizing Entries to Record Division of Net Income and Net Loss Among Partners
Partnership Financial Statement
TRY IT! Learning Unit 17-2
Learning Unit 17-3 Journalizing Entries to Record Admissions and Withdrawals of Partners
Admission of a New Partner
Buying an Equity Interest from an Original Partner.
Investing in an Existing Partnership.
Recording a Bonus to the Old Partners When Admitting a New Partner.
Recording a Bonus to a New Partner.
Recording Permanent Withdrawal of a Partner
Recording Permanent Withdrawal When a Partner Takes Assets of Less Value Than Book Equity
Recording Permanent Withdrawal When a Partner Takes Assets of Greater Value Than Book Equity
TRY IT! Learning Unit 17-3
Learning Unit 17-4 Entries for the Liquidation of a Partnership
The Liquidation Process
Situation 2.
The Liquidation Process
Situation 3.
The Liquidation Process
Learning Unit 17-4 17-4
Demonstration Summary Problem
Solutions for Project 1
Tips
Project 2
Solution for Project 2
Tip
Blueprint: Advantages and Disadvantages of a Partnership
Chapter 17 Accounting Coach
LU 17-1 Journalizing Entries to Form a Partnership
Pre-Game Checkup:
LU 17-2 Journalizing Entries to Record Division of Net Income and Net Loss Among Partners
Pre-Game Checkup:
LU 17-3 Journalizing Entries to Record Admissions and Withdrawals of Partners
Pre-Game Checkup:
LU 17-4 Entries for the Liquidation of a Partnership
Pre-Game Checkup:
Lu 17-1
Lu 17-2
Lu 17-3
Lu 17-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 18 Corporations: Organizations and Stock
Learning Unit 18-1 The Advantages and Disadvantages of the Corporate Structure
Advantages of the Corporate Form of Organization
1. Limited Liability/Separate Legal Entity.
2. Unlimited Life.
3. Ease of Transferring Ownership Interest.
4. No Mutual Agency.
5. Ease of Raising Capital.
Disadvantages of the Corporate Structure
1. Difficulties in Forming a Corporation/Government Regulations.
2. Corporate Taxation.
TRY IT! Learning Unit 18-1
Learning Unit 18-2 Retained Earnings and Stockholders’ Equity
Capital Stock
Characteristics of Common Stock
Characteristics of Preferred Stock
Dividends on Common and Preferred Stock
Stock Value (for Capital Stock)
TRY IT! Learning Unit 18-2
Learning Unit 18-3 Capital Stock Transactions and Calculating Dividends
Recording the Sale of Stock That Has Par Value
Situation 1: Selling Common Stock at Par.
Situation 2: Selling Preferred Stock at Par.
Situation 3: Selling Common Stock at a Premium (More Than Par Value).
18.3.1.3.1 The Analysis.
18.3.1.4 Situation 4: Selling Common Stock at a Discount (Below Par).*
18.3.1.4.1 The Analysis.
Recording Sale of Stock with No-Par Value and Stated Value
Situation 5: Selling No-Par Common Stock with No Stated Value.
18.3.2.2 Situation 6: Selling No-Par Common Stock with a Stated Value.
18.3.2.2.1 The Analysis.
Recording Transactions in Which Stock Is Exchanged for Noncash Assets
Situation 7: Exchanging Stock for Noncash Assets.
18.3.3.1.1 The Analysis.
Situation 8:* Issuing Stock to Organizers of a Business for Services Performed.
18.3.3.2.1 The Analysis.
How to Calculate Dividends
TRY IT! Learning Unit 18-3
Learning Unit 18-4 Journalizing Entries to Record Capital Stock Transactions for a Subscription Plan
Stockholders’ Equity
TRY IT! Learning Unit 18-4
Demonstration Summary Problem
Project 1
Solution for Project 1
Tips
Project 2
Solution for Project 2
Tips
Project 3
Solution for Project 3
Tips
Project 4
Solution for Project 4
Tips
Blueprint: Source-of-Capital Approach
Learning Unit 18-1
Learning Unit 18-2
Learning Unit 18-3
Learning Unit 18-4
Chapter 18 Accounting Coach
lu 18-1 The Advantages and Disadvantages of the Corporate Structure
Pre-Game Checkup:
lu 18-2 Retained Earnings and Stockholders’ Equity
Pre-Game Checkup:
lu 18-3 Capital Stock Transactions and Calculating Dividends
Pre-Game Checkup:
lu 18-4 Journalizing Entries to Record Capital Stock Transactions for a Subscription Plan
Pre-Game Checkup:
Lu 18-1
Lu 18-2
Lu 18-3
Lu 18-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 19 Corporations: Stock Values, Dividends, Treasury Stocks, and Retained Earnings
Learning Unit 19-1 Redemption, Market, and Book Value
Redemption Value
Market Value
Book Value per Share
Calculating Book Value with Only One Class of Stock
Calculating Book Value with Both Preferred and Common Stock
TRY IT! Learning Unit 19-1
Learning Unit 19-2 Calculating and Journalizing Dividends
Cash Dividends
Date of Declaration: March 8, 201X.
Date of Payment: April 16, 201X.
The Stock Dividend
Recording a Stock Dividend
Recording the Declaration of the Dividend.
Recording the Issuance of the Stock Dividend.
The Stock Split.
TRY IT! Learning Unit 19-2
19.3 Learning Unit 19-3 Journalizing Treasury Stock Transactions
Purchase of Treasury Stock
Sale of Treasury Stock
Example of Stockholders’ Equity with Treasury Stock
TRY IT! Learning Unit 19-3
Learning Unit 19-4 Appropriation of Retained Earnings and the Statement of Retained Earnings
Preparing the Statement of Retained Earnings
Accounting Cycle for a Corporation
TRY IT! Learning Unit 19-4
Demonstration Summary Problem
Project 1
Solution for Project 1
Tips
Project 2
Solution for Project 2
Tips
Project 3
Solution for Project 3
Tips
Project 4
Solution for Project 4
Tips
Blueprint: Legal Capital Approach
Learning Unit 19-1
Learning Unit 19-2
Learning Unit 19-3
Learning Unit 19-4
Chapter 19 Accounting Coach
LU 19-1 Redemption, Market, and Book Value
Pre-Game Checkup:
LU 19-2 Calculating and Journalizing Dividends
Pre-Game Checkup:
LU 19-3 Journalizing Treasury Stock Transactions
Pre-Game Checkup:
LU 19-4 Appropriation of Retained Earnings and the Statement of Retained Earnings
Pre-Game Checkup:
lu 19-1
lu 19-2
lu 19-3
lu 19-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 20 Corporations and Bonds Payable
Learning Unit 20-1 Journalizing Issuance and Interest Payments of Bonds
Types of Bonds
Stocks versus Bonds
Bonds Sold between Interest Dates
TRY IT!Learning Unit 20-1
Learning Unit 20-2 Journalizing Amortization of Bonds by the Straight-Line Method
Recording and Amortizing Bonds Issued at a Discount
Year-End Adjusting Entry: Accrued Interest and Amortization of Discount on Bonds Payable.
Recording and Amortizing Bonds Issued at a Premium
TRY IT! Learning Unit 20-2
Learning Unit 20-3 Journalizing Amortization of Bonds by the Interest Method*
Amortizing the Bond Discount by the Interest Method
Year-End Adjustment
Amortizing the Bond Premium by the Interest Method
Year-End Adjustment
TRY IT! Learning Unit 20-3
Learning Unit 20-4 Journalizing Bond Sinking Fund Transactions
The Bond Sinking Fund
TRY IT! Learning Unit 20-4
Demonstration Summary Problem
Project 1
Solution for Project 1
Tips
Project 2
Solution for Project 2
Tips
Project 3
Solution for Project 3
Tips
Blueprint: Stocks Versus Bonds
Learning Unit 20-1
Learning Unit 20-2
Learning Unit 20-3
Learning Unit 20-4
Chapter 20 Accounting Coach
LU 20-1 Journalizing Issuance and Interest Payments of Bonds
Pre-Game Checkup:
LU 20-2 Journalizing Amortization of Bonds by the Straight-Line Method
Pre-Game Checkup:
LU 20-3 Journalizing Amortization of Bonds by the Interest Method
Pre-Game Checkup:
LU 20-4 Journalizing Bond Sinking Fund Transactions
Pre-Game Checkup:
Lu 20-1
Lu 20-2
Lu 20-3
Lu 20-4
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 21 Statement of Cash Flows
Usefulness and Layout
Learning Unit 21-1 Preparing a Statement of Cash Flows by the Indirect Method
Cash Flows from Operating Activities: Indirect Method
Cash Flows from Investing Activities
Cash Flows from Financing Activities
TRY IT! Learning Unit 21-1
Learning Unit 21-2 Preparing a Statement of Cash Flows by the Direct Method
TRY IT! Learning Unit 21-2
Demonstration Summary Problem Requirement
Solution for Indirect Method
Tips for Indirect Method
Solution for Direct Method
Tips for Direct Method
Blueprint: Statement of Cash Flows
Indirect Method
Direct Method
Learning Unit 21-1
Learning Unit 21-2
Chapter 21 Accounting Coach
LU 21-1 Preparing a Statement of Cash Flows by the Indirect Method
Pre-Game Checkup:
LU 21-2 Preparing a Statement of Cash Flows by the Direct Method
Pre-Game Checkup:
Lu 21-1
Lu 21-2
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 22 Analyzing Financial Statements
Learning Unit 22-1 Horizontal and Vertical Analysis of Comparative Balance Sheets
Horizontal Analysis of the Balance Sheet
Vertical Analysis of the Balance Sheet
TRY IT! Learning Unit 22-1
Learning Unit 22-2 Horizontal and Vertical Analysis of Income Statements
Horizontal Analysis of the Income Statement
Vertical Analysis of the Income Statement
Trend Analysis
TRY IT! Learning Unit 22-2
Learning Unit 22-3 Calculate Financial Ratios
Liquidity Ratios
Current Ratio.
Acid Test Ratio (Quick Ratio).
Asset Management Ratios
Accounts Receivable Turnover.
Average Collection Period.
Inventory Turnover.
Asset Turnover.
Debt Management Ratios
Debt to Total Assets.
Debt to Stockholders’ Equity.
Times Interest Earned (Interest Coverage Ratio).
Profitability Ratios
Gross Profit Rate.
Return on Sales.
Rate of Return on Total Assets.
Rate of Return on Common Stockholders’ Equity (Return on Equity).
TRY IT! Learning Unit 22-3
Demonstration Summary Problem
Solution for Quick Quiz 1
Tip
Quick Quiz 2
Solution for Quick Quiz 2
Tip
Quick Quiz 3
Solution for Quick Quiz 3
Tip
Quick Quiz 4
Solution for Quick Quiz 4
Tip
Quick Quiz 5
Solution for Quick Quiz 5
Tip
Blueprint: Calculating Financial Ratios
Chapter 22 Accounting Coach
LU 22-1 Horizontal and Vertical Analysis of Comparative Balance Sheets
Pre-Game Checkup:
LU 22-2 Horizontal and Vertical Analysis of Income Statements
Pre-Game Checkup:
LU 22-3 Calculate Financial Ratios
Pre-Game Checkup:
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 23 The Voucher System
Learning Unit 23-1 Handling Transactions in a Voucher System
The Voucher
The Voucher Register
Unpaid Voucher File
Check Register
Paid Voucher File
TRY IT! Learning Unit 23-1
Learning Unit 23-2 Purchases Returns and Allowances, Partial Payments, and Recording Purchases at Net or Gross in a Voucher System
Situation 1: Purchases Returns and Allowances After Voucher Has Been Recorded
Situation 2: Partial Payments Planned After Voucher Prepared for Full Amount
Recording Purchases at Net Amount
If Discount Is Taken on Time.
If Discount Is Missed.
TRY IT! Learning Unit 23-2
Demonstration Summary Problem Requirements
Solutions
Requirement 1
Tips
Requirement 2
Tips
Blueprint: Steps to Record and Pay a Liability Using the Voucher System
Chapter 23 Accounting Coach
LU 23-1 Handling Transactions in a Voucher System
Pre-Game Checkup:
LU 23-2 Purchases Returns and Allowances, Partial Payments, and Recording Purchases at Net or Gross in a Voucher System
Pre-Game Checkup:
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 24 Departmental Accounting
Learning Unit 24-1 The Income Statement Focused on Gross Profit by Departments
TRY IT!Learning Unit 24-1
Learning Unit 24-2 How Operating Expenses Are Broken Down by Departments
Departmental Income from Operations
TRY IT! Learning Unit 24-2
Learning Unit 24-3 Contribution Margin on the Income Statement
TRY IT! Learning Unit 24-3
Demonstration Summary Problem
Solution for Requirement 1
Tip
Requirement 2
Solution for Requirement 2
Tip
Requirement 3
Solution for Requirement 3
Tip
Blueprint: Departmental Accounting
Chapter 24 Accounting Coach
LU 24-1 The Income Statement Focused on Gross Profit by Departments
Pre-Game Checkup:
LU 24-2 How Operating Expenses Are Broken Down by Departments
Pre-Game Checkup:
LU 24-3 Contribution Margin on the Income Statement
Pre-Game Checkup:
lu 24-1
lu 24-2
lu 24-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Checks
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
Chapter 25 Manufacturing Accounting
Learning Unit 25-1 Cost of Goods Manufactured and the Income Statement
Elements of Manufacturing Cost
Manufacturing Inventories
Cost of Goods Sold
TRY IT! Learning Unit 25-1
Learning Unit 25-2 Journalizing the Flow of Costs for a Manufacturing Company
The Accumulation of Manufacturing Costs
Source Documents.
The Flow of Manufacturing Costs
The Flowchart.
Overhead Application.
TRY IT! Learning Unit 25-2
Learning Unit 25-3 Preparing a Worksheet for a Manufacturing Company
Key Points to Look at on the Worksheet
Reports Prepared from the Worksheet
Statement of Cost of Goods Manufactured
The Income Statement.
The Balance Sheet.
TRY IT! Learning Unit 25-3
Demonstration Summary Problem
Solution for Requirement 1
Tip
Requirement 2
Solution for Requirement 2
Tip
Requirement 3
Solution for Requirement 3
Tip
Blueprint: Manufacturing Elements
Chapter 25 Accounting Coach
LU 25-1 Cost of Goods Manufactured and the Income Statement
Pre-Game Checkup:
LU 25-2 Journalizing the Flow of Costs for a Manufacturing Company
Pre-Game Checkup:
LU 25-3 Preparing a Worksheet for a Manufacturing Company
Pre-Game Checkup:
lu 25-1
lu 25-2
lu 25-3
Chapter Summary
Discussion Questions and Critical Thinking/Ethical Case
Concept Check
Exercises
Set A
Set B
Problems
Set A
Set B
Financial Report Problem
Reading the Kellogg’s Annual Report
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