Reeve Warren Duchac. James M. Reeve. Professor Emeritus of Accounting University of Tennessee, Knoxville

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Reeve Warren Duchac. James M. Reeve. Professor Emeritus of Accounting University of Tennessee, Knoxville"

Transcription

1 Reeve Warren Duchac 10e James M. Reeve Professor Emeritus of Accounting University of Tennessee, Knoxville Carl S. Warren Professor Emeritus of Accounting University of Georgia, Athens Jonathan E. Duchac Professor of Accounting Wake Forest University SOUTH-WESTERN CENGAGE Learning* A u s t r a l i a B r a z i l C a n a d a M e x i c o S i n g a p o r e - S p a i n U n i t e d K i n g d o m U n i t e d S t a t e s

2 CHAPTER 1 Introduction to Accounting and Business Nature of Business and Accounting 2 Types of Businesses 2 The Role of Accounting in Business 3 Role of Ethics in Accounting and Business 4 Opportunities for Accountants 6 Generally Accepted Accounting Principles 7 Business Entity Concept 8 The Cost Concept 8. The Accounting Equation 9 Business Transactions and the Accounting Equation 10 Business Connection: The Accounting Equation 10 Financial Statements 16 Income Statement 17 Retained Earnings Statement 19 Balance Sheet 20 Statement of Cash Flows 20,/ Interrelationships Among Financial Statements 22 Financial Analysis and Interpretation 23 CHAPTER 2 Analyzing Transactions Using Accounts to Record Transactions 52 Chart of Accounts 54 Business Connection: The Hijacking Receivable 54 Double-Entry Accounting System 55 Balance Sheet Accounts 55 Income Statement Accounts 56 Dividends 56 Normal Balances 56 Journalizing 57 Posting Journal Entries to Accounts 61 Trial Balance 70 Errors Affecting the Trial Balance 70 Errors Not Affecting the Trial Balance 72 Financial Analysis and Interpretation 73 CHAPTER 3 The Adjusting Process Nature of the Adjusting Process 102 The Adjusting Process 103 Types of Accounts Requiring Adjustment 104 Recording Adjusting Entries Prepaid Expenses 107 Unearned Revenues 109 Accrued Revenues 110 Accrued Expenses 111 Depreciation Expense 113 Summary of Adjustment Process 115 Business Connection: Microsoft Corporation i 18 Adjusted Trial Balance 120 Financial Analysis and Interpretation 122 CHAPTER 4 Completing the Accounting Cycle 145 Flow of Accounting Information 146 Financial Statements 148 Income Statement 148 Retained Earnings Statement 150 Balance Sheet 151 Business Connection: International Differences 152 Closing Entries 152 Journalizing and Posting Closing Entries 154 Post-Closing Trial Balance 157 Accounting Cycle 158 Illustration of the Accounting Cycle 159 Step 1. Analyzing and Recording Transactions in the Journal 160 Step 2. Posting Transactions to the Ledger 161 Step 3. Preparing an Unadjusted Trial Balance 162 Step 4. Assembling and Analyzing Adjustment Data 162 Step 5. Preparing an Optional End-of-Period Spreadsheet (Work Sheet) 163 Step 6. Journalizing and Posting Adjusting Entries 163 Step 7. Preparing an Adjusted Trial Balance 165 Step 8. Preparing the Financial Statements 165 Step 9. Journalizing and Posting Closing Entries 167 Step 10. Preparing a Post-Closing Trial Balance 167 Fiscal Year 170 Financial Analysis and Interpretation 171 Appendix: End-of-Period Spreadsheet (Work Sheet) 171 Step 1. Enter the Title 171 Step 2. Enter the Unadjusted Trial Balance 172 Step 3. Enter the Adjustments 172 Step 4. Enter the Adjusted Trial Balance 174 Step 5. Extend the Accounts to the Income Statement and Balance Sheet Columns 175 XXV

3 Step 6. Total the Income Statement and Balance Sheet Columns, Compute the Net Income or Net Loss, and Complete the Spreadsheet 175 Preparing the Financial Statements from the Spreadsheet 176 Comprehensive Problem CHAPTER 5 Accounting for Merchandising Businesses 208 Nature of Merchandising Businesses 209 Financial Statements for a Merchandising Business 210 Multiple-Sep Income Statement 211 Single-Step Income Statement 215 Retained Earnings Statement 215 Balance Sheet 215 Business Connection: H&R Block Versus the Home Depot 217 Merchandising Transactions 217 Chart of Accounts for a Merchandising Business 217 Sales Transactions 217 Purchase Transactions 223 Freight, Sales Taxes, and Trade Discounts 226 Dual Nature of Merchandise Transactions 229 The Adjusting and Closing Process 230 Adjusting Entry for Inventory Shrinkage 230 Closing Entries 231 Financial Analysis and Interpretation 232 Appendix: The Periodic Inventory System 233 Cost of Merchandise Sold Using the Periodic Inventory System 233 Chart of Accounts Under the Periodic Inventory System 234 Recording Merchandise Transactions Under the Periodic Inventory System 234 Adjusting Process Under the Periodic Inventory System 235 Financial Statements Under the Periodic Inventory System 235 Closing Entries Under the Periodic Inventory System 236 Comprehensive Problem Comparing Inventory Costing Methods 275 Reporting Merchandise Inventory in the Financial Statements 276 Valuation at Lower of Cost or Market 277 Valuation at Net Realizable Value 278 Merchandise Inventory on the Balance Sheet 278 Effect of Inventory Errors on the Financial Statement 279 Business Connection: Rapid Inventory at Costco 282 Financial Analysis and Interpretation 282 Appendix: Estimating Inventory Cost 283 Retail Method of Inventory Costing 283 Gross Profit Method of Inventory Costing 284 CHAPTER 7 Sarbanes-Oxley, Internal Control, and Cash 304 Sarbanes-Oxley Act of Internal Control 307 Objectives of Internal Control 307 Elements of Internal Control 307 Control Environment 308 Risk Assessment 309 Control Procedures 309 Monitoring 311 Information and Communication 312 Limitations of Internal Control 312 Cash Controls Over Receipts and Payments 312 Control of Cash Receipts 313 Control of Cash Payments 315 Bank Accounts 316 Bank Statement 316 Using the Bank Statement as a Control Over Cash 318 Bank Reconciliation 319 Special-Purpose Cash Funds 323 Financial Statement Reporting of Cash 324 CHAPTER 6 Inventories 263 Control of Inventory 264 Safeguarding Inventory 264 Reporting Inventory 265 Inventory Cost Flow Assumptions 265 Inventory Costing Methods Under a Perpetual Inventory System 268 First-ln, First-Out Method 268 Last-In, First-Out Method 270 Average Cost Method 271 Computerized Perpetual Inventory Systems 271 Inventory Costing Methods Under a Periodic Inventory System 272 First-ln, First-Out Method 272 Last-In, First-Out Method 273 Average Cost Method 274 Financial Analysis and Interpretation 325 Business Connection: Microsoft Corporation 326 CHAPTER 8 Receivables 349 Classification of Receivables 350 Accounts Receivable 350 Notes Receivable 350 Other Receivables 351 Uncollectible Receivables 351 Direct Write-Off Method for Uncollectible Accounts 352 Allowance Method for Uncollectible Accounts 353 Write-Offs to the Allowance Account 354 Estimating Uncollectibles 355 Comparing Direct Write-Off and Allowance Methods 360 Notes Receivable 362 XXVI

4 Characteristics of Notes Receivable 362 Accounting for Notes Receivable 363 Reporting Receivables on the Balance Sheet 365 Financial Analysis and Interpretation 366 Business Connection: Delta Air Lines 367 Appendix: Discounting Notes Receivable 367 CHAPTER 9 Fixed Assets and Intangible Assets.392 Nature of Fixed Assets 393 Classifying Costs 394 The Cost of Fixed Assets 395 Capital and Revenue Expenditures 396 Leasing Fixed Assets 397 Accounting for Depreciation 398 Factors in Computing Depreciation Expense 399 Straight-Line Method 400 Units-of-Production Method 401 Double-Declining Balance Method 402 Comparing Depreciation Methods 403 Depreciation for Federal Income Tax 404 Revising Depreciation Estimates 404 Disposal of Fixed Assets 406 Discarding Fixed Assets 406 Selling Fixed Assets 407 : Natural Resources 408 Intangible Assets 409 Patents 409 Copyrights and Trademarks 410 Goodwill 411 Financial Reporting for Fixed Assets and Intangible Assets 412 Business Connection: Hub-and-Spoke or Point-to-Point? 413 Financial Analysis and Interpretation 414 Appendix: Sum-of-the-Years-Digits Depreciation 414 Appendix: Exchanging Similar Fixed Assets 415 Gain on Exchange 416 Loss on Exchange 416 CHAPTER 1 O Current Liabilities and Payroll 436 Current Liabilities 437 Accounts Payable 437 Current Portion of Long-Term Debt 438 Short-Term Notes Payable 438 Payroll and Payroll Taxes 441 Liability for Employee Earnings 441 Deductions from Employee Earnings 441 Computing Employee Net Pay 444 Liability for Employer's Payroll Taxes 444 Business Connection: The Most You Will Ever Pay 445 Accounting Systems for Payroll and Payroll Taxes 445 Payroll Register 446 Employee's Earnings Record 449 Payroll Checks 449 Payroll System Diagram 450 Internal Controls for Payroll Systems 451 Employees' Fringe Benefits 453 Vacation Pay 453 Pensions 454 Postretirement Benefits Other than Pensions 455 Current Liabilities on the Balance Sheet 456 Contingent Liabilities 456 Probable and Estimable 456 Probable and Not Estimable 457 Reasonably Possible 457 Remote 457 Financial Analysis and Interpretation 459 Comprehensive Problem CHAPTER 1 1 Corporations: Organization, Stock Transactions, and Dividends 483 Nature of a Corporation 484 Characteristics of a Corporation 484 Forming a Corporation 485 Paid-in Capital from Issuing Stock 487 Characteristics of Stock 487 Classes of Stock 487 Issuing Stock 489 Premium on Stock 490 No-Par Stock 490 Business Connection: Cisco Systems, Inc. 491 Accounting for Dividends 492 Cash Dividends 492 Stock Dividends 494 Treasury Stock Transactions 495 Reporting Stockholders' Equity 497 Stockholders' Equity in the Balance Sheet 497 Reporting Retained Earnings 499 Statement of Stockholders' Equity 500 Reporting Stockholders' Equity for Mornin' Joe 501 Stock Splits 502 Financial Analysis and Interpretation 503 CHAPTER 1 2 Financing Corporations 525 Long-Term Liabilities: Bonds and Notes 524 Nature of Bonds Payable 528 Bond Characteristics and Terminology 528 Proceeds from Issuing Bonds 528 Accounting for Bonds Payable 529 Bonds Issued at Face Amount 529 XXVII

5 Bonds Issued at a Discount 530 Amortizing a Bond Discount 531 Bonds Issued at a Premium 532 Amortizing a Bond Premium 533 Business Connection: Ch-Ch-Ch-Changes in Bond Trends 534 Bond Redemption 534 Installment Notes 536 Issuing an Installment Note 536 Annual Payments 536 Reporting Long-Term Liabilities 538 Financial Analysis and Interpretation 539 Appendix 1: Present Value Concepts and Pricing Bonds Payable 539 Present Value Concepts 540 Pricing Bonds 542 Appendix 2: Effective Interest Rate Method of Amortization 544 Amortization of Discount by the Interest Method 544 Amortization of Premium by the Interest Method 545 CHAPTER 1 3 Investments and Fair Value Accounting Why Companies Invest 565 Investing Cash in Current Operations 565 Investing Cash in Temporary Investments 566 Investing Cash in Long-Term Investments 566 Accounting for Debt Investments 567 Purchase of Bonds 567 Interest Revenue 567 Sale of Bonds 568 Accounting for Equity Investments 569 Less Than 20% Ownership 569 Between 20% and 50% Ownership 571 More Than 50% Ownership 573 Valuing and Reporting Investments 574 Trading Securities 574 Held-To-Maturity Securities 577 Available-for-Sale Securities 578 Summary 581 Business Connection: Warren Buffett: The Sage of Omaha 583 Fair Value Accounting 583 Trend to Fair Value Accounting 583 Effect of Fair Value Accounting on the Financial Statements 584 Future of Fair Value Accounting 585 Financial Analysis and Interpretation 585 Appendix 1: Accounting for Held-to-Maturity Investments 585 Purchase of Bonds 585 Amortization of Premium or Discount 586 Receipt of Maturity Value of Bond 587 Appendix 2: Comprehensive Income 588 XXVIII Comprehensive Problem Financial Statements for Mornin Joe 614 CHAPTER 1 4 Statement of Cash Flows 617 Reporting Cash Flows 618 Cash Flows from Operating Activities 619 Cash Flows from Investing Activities 621 Cash Flows from Financing Activities 621 Noncash Investing and Financing Activities 621 Business Connection: Too Much Cash! 621 No Cash Flow per Share 622 Statement of Cash Flows The Indirect Method 622 Retained Earnings 624 Adjustments to Net Income 624 Dividends 629 Common Stock 629 Bonds Payable 630 Building 630 Land 631 Preparing the Statement of Cash Flows 631 Statement of Cash Flows The Direct Method 632 Cash Received from Customers 633 Cash Payments for Merchandise 634 Cash Payments for Operating Expenses 635 Gain on Sale of Land 635 Interest Expense 635 Cash Payments for Income Taxes 636 Reporting Cash Flows from Operating Activities Direct Method 636 Financial Analysis and Interpretation 637 Appendix: Spreadsheet (Work Sheet) for Statement of Cash Flows The Indirect Method 638 Analyzing Accounts 638 Retained Earnings 638 Other Accounts 640 Preparing the Statement of Cash Flows 640 CHAPTER 1 5 Financial Statement Analysis Basic Analytical Methods 672 Horizontal Analysis 673 Vertical Analysis 675 Common-Sized Statements 676 Other Analytical Measures 678 Solvency Analysis 678 Current Position Analysis 679 Accounts Receivable Analysis 681 Inventory Analysis 682 Ratio of Fixed Assets to Long-Term Liabilities 684 Ratio of Liabilities to Stockholders' Equity 684 Number of Times Interest Charges Earned 685 Profitability Analysis 686 Ratio of Net Sales to Assets

6 Rate Earned on Total Assets 687 Rate Earned on Stockholders' Equity 688 Rate Earned on Common Stockholders' Equity 689 Earned Per Share on Common Stock 690 Price-Earnings Ratio 691 Dividends Per Share 692 Dividend Yield 692 Summary of Analytical Measures 692 Corporate Annual Reports 694 Management Discussion and Analysis 694 Report on Internal Control 694 Report on Fairness of Financial Statements 695 Business Connection: Investing Strategies 695 Appendix: Unusual Items on the Income Statement 696 Unusual Items Affecting the Current Period's Income Statement 696 Unusual Items Affecting the Prior Period's Income Statement 698 Nike, Inc., Problem 724 APPENDIX A Interest Tables A-2 APPENDIX B Reversing Entries B-1 APPENDIX C Special Journals and Subsidiary Ledgers C-1 Subsidiary Ledgers C-1 Special Journals C-1 Revenue Journal C-3 Cash Receipts Journal C-6 Accounts Receivable Control Account and Subsidiary Ledger C-8 Purchases Journal C-8 Cash Payments Journal C-10 Accounts Payable Control Account and Subsidiary Ledger C-13 APPENDIX D End-of-Period Spreadsheet (Work Sheet) for a Merchandising Business D-1 Temporary Differences D-1 Reporting Deferred Taxes D-3 Permanent Differences D-3 APPENDIX E Accounting for Deferred Income Taxes E-1 Temporary Differences E-1 Reporting Deferred Taxes E-3 Permanent Differences E-3 APPENDIX F Form 10-K Nike Inc F-1 APPENDIX G International Financial Reporting Standards G-1 Glossary GL-1 Subject Index 1-1 Company Index 1-12

Course Outcome Summary

Course Outcome Summary 1 of 8 Wisconsin Indianhead Technical College Course Outcome Summary Course Information Alternate Title Description Instructional Level Total Credits 4.00 Total Hours 80.00 previously Financial Accounting

More information

Century 21 Accounting, 8e General Journal Chapter Outlines

Century 21 Accounting, 8e General Journal Chapter Outlines Century 21 Accounting, 8e General Journal Chapter Outlines PART 1 Chapter 1 ACCOUNTING FOR A SERVICE BUSINESS ORGANIZED AS A PROPRIETORSHIP Starting A Proprietorship: Changes that Affect the Accounting

More information

ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING

ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING ACC 120 PRINCIPLES OF FINANCIAL ACCOUNTING COURSE DESCRIPTION: Prerequisites ENG 090, and RED 090 or DRE 098; MAT 070 or DMA 010, 020, 030, 040, or satisfactory score on placement test Corequisites: None

More information

Completing the Accounting Cycle

Completing the Accounting Cycle C H A P T E R 4 Completing the Accounting Cycle Financial Accounting 14e Warren Reeve Duchac human/istock/360/getty Images Flow of Accounting Information (slide 1 of 5) End-of-Period Spreadsheet (Work

More information

RAPID REVIEW Chapter Content

RAPID REVIEW Chapter Content RAPID REVIEW BASIC ACCOUNTING EQUATION (Chapter 2) INVENTORY (Chapters 5 and 6) Basic Equation Assets Owner s Equity Expanded Owner s Owner s Assets Equation = Liabilities Capital Drawing Revenues Debit

More information

Accounting. Charles T. Horngren. Stanford University. Walter Harrison Jr. Baylor University. IVL Suzanne Oliver. Northwest Florida State College

Accounting. Charles T. Horngren. Stanford University. Walter Harrison Jr. Baylor University. IVL Suzanne Oliver. Northwest Florida State College Accounting EIGHTH EDITION Charles T. Horngren Stanford University Walter Harrison Jr. Baylor University IVL Suzanne Oliver Northwest Florida State College Pearson Education International Contents CHAPTER

More information

CENTURY 21 ACCOUNTING, 8e General Journal Chapter Objectives

CENTURY 21 ACCOUNTING, 8e General Journal Chapter Objectives CENTURY 21 ACCOUNTING, 8e General Journal Chapter Objectives Chapter 1 Starting A Proprietorship: Changes that Affect the Accounting Equation After studying Chapter 1, you will be able to: 1. Define accounting

More information

Principles of Financial Accounting ACC-101-TE. TECEP Test Description

Principles of Financial Accounting ACC-101-TE. TECEP Test Description Principles of Financial Accounting ACC-101-TE TECEP Test Description This TECEP is an introduction to the field of financial accounting. It covers the accounting cycle, merchandising concerns, and financial

More information

Financial Accounting by Michael P. Licata, Ph.D. Course Syllabus and Learning Objectives by Chapter

Financial Accounting by Michael P. Licata, Ph.D. Course Syllabus and Learning Objectives by Chapter Financial Accounting by Michael P. Licata, Ph.D. Course Syllabus and Learning Objectives by Chapter Basic Course Description Financial Accounting by Michael P. Licata, Ph.D. is a first accounting course

More information

Advanced Placement (AP) Accounting

Advanced Placement (AP) Accounting Advanced Placement (AP) Accounting The Advanced Placement (AP) Accounting Course is a full academic year course. The course is based on high school teachers having 120 contact hours with students from

More information

BUSINESS BOOKS. Accounting SIXTH EDITION. Peter J. Eisen Assistant Principal Retired Accounting & Business Practice N.YC. Department of Education

BUSINESS BOOKS. Accounting SIXTH EDITION. Peter J. Eisen Assistant Principal Retired Accounting & Business Practice N.YC. Department of Education BUSINESS BOOKS Accounting SIXTH EDITION Peter J. Eisen Assistant Principal Retired Accounting & Business Practice N.YC. Department of Education BARRON'S CONTENTS Preface ix 1 THE ACCOUNTING EQUATION I

More information

ACCOUNTING DICTIONARY

ACCOUNTING DICTIONARY ACCOUNTING DICTIONARY A Account a record summarizing all the information pertaining to a single item in the accounting equation Account balance the amount in an account Account number the number assigned

More information

a. $ 65,000. b. $ 80,000. c. $130,000. d. $145,000.

a. $ 65,000. b. $ 80,000. c. $130,000. d. $145,000. 注 意 1. 本 試 題 卷 共 50 題, 總 分 100 分 第 01-15 題, 每 題 1.75 分, 合 計 26.25 分 ; 第 16-35 題, 每 題 2 分, 合 計 40 分 ; 第 36-50 題, 每 題 2.25 分, 合 計 33.75 答 錯 不 倒 扣 2. 請 將 答 案 按 試 題 題 號, 依 序 填 入 答 案 卡 1.FastForward had cash

More information

COURSE GUIDELINE--Accounting

COURSE GUIDELINE--Accounting COURSE GUIDELINE--Accounting Grade: 9- (Elective Course, offered one semester at a time) SUBJECT: Accounting TEACHER: Reimer STANDARD QTR. RESOURCES STRATEGIES ASSESSMENTS. Define accounting and explain

More information

Prerequisite: None or as established by individual college. 3.0 semester credit hours/4.5 quarter credit hours/45 contact hours

Prerequisite: None or as established by individual college. 3.0 semester credit hours/4.5 quarter credit hours/45 contact hours I. CATALOG DESCRIPTION ACCT-1200 Principles of Accounting I Prerequisite: None or as established by individual college This course is designed to provide introductory knowledge of accounting principles,

More information

WORK PROCESS SCHEDULE ACCOUNTING TECHNICIAN O*NET-SOC CODE: 43-3031.00 RAIS CODE: 1125HY

WORK PROCESS SCHEDULE ACCOUNTING TECHNICIAN O*NET-SOC CODE: 43-3031.00 RAIS CODE: 1125HY Accounting Technician 1 WORK PROCESS SCHEDULE ACCOUNTING TECHNICIAN O*NET-SOC CODE: 43-3031.00 RAIS CODE: 1125HY DESCRIPTION: Compute, classify, and record numerical data to keep financial records complete.

More information

PROFESSOR S NAME ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8)

PROFESSOR S NAME ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) Page 137 NAME ANSWER KEY PROFESSOR S NAME SECTION SCORE ACC 255 FALL 2011 COVER SHEET FOR COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5-8) INSTRUCTIONS: COMPLETE ALL

More information

Page 1 FBLA: ACCOUNTING II

Page 1 FBLA: ACCOUNTING II Competency: Financial Statements 1. Describe the different types of financial statements; explain their purpose and compare the difference. 2. Prepare a trial balance, a worksheet (8 and 10 columns), and

More information

Introductory Financial Accounting Course Outline

Introductory Financial Accounting Course Outline Aboriginal Financial Officers Association of Alberta Introductory Financial Accounting Course Outline ACCT 210: INTRODUCTORY FINANCIAL ACCOUNTING I... 1 ACCT 240: INTRODUCTORY FINANCIAL ACCOUNTING II...

More information

COMPUTERIZED ACCOUNTING II Curriculum Content Frameworks

COMPUTERIZED ACCOUNTING II Curriculum Content Frameworks COMPUTERIZED ACCOUNTING II Curriculum Content Frameworks Please note: All assessment questions will be taken from the knowledge portion of these frameworks. Prepared by Loretta Burgess, Greenbrier High

More information

TOPIC LEARNING OBJECTIVE

TOPIC LEARNING OBJECTIVE Topic Mapping 1 Transaction Analysis Understand the effect of various types of transactions on the accounting equation, accounting journal and accounting ledger. Concepts and Skills Accounting Equation

More information

ACCOUNTING COURSE QUALITY STANDARDS ACC-131... 3 ACC-132... 5 ACC-161... 7 ACC-221... 9 ACC-231... 11 ACC-232... 14 ACC-261... 17 ACC-310...

ACCOUNTING COURSE QUALITY STANDARDS ACC-131... 3 ACC-132... 5 ACC-161... 7 ACC-221... 9 ACC-231... 11 ACC-232... 14 ACC-261... 17 ACC-310... ACCOUNTING COURSE QUALITY STANDARDS ACC-131... 3 ACC-132... 5 ACC-161... 7 ACC-221... 9 ACC-231... 11 ACC-232... 14 ACC-261... 17 ACC-310... 17 ACC-805... 17 ACC-806... 19 ADM-114... 21 ADM-133... 22 BCA-157...

More information

Financial & Manageria. Accounting. Charles T. Horngren. Stanford University. Walter T. Harrison Jr. Baylor University. M.

Financial & Manageria. Accounting. Charles T. Horngren. Stanford University. Walter T. Harrison Jr. Baylor University. M. Financial & Manageria Accounting THIRD EDITION Charles T. Horngren Stanford University Walter T. Harrison Jr. Baylor University M. Suzanne Oliver University of West Florida PEARSON Pearson Education International

More information

Accounting Skills Assessment Practice Exam Page 1 of 10

Accounting Skills Assessment Practice Exam Page 1 of 10 NAU ACCOUNTING SKILLS ASSESSMENT PRACTICE EXAM & KEY 1. A company received cash and issued common stock. What was the effect on the accounting equation? Assets Liabilities Stockholders Equity A. + NE +

More information

CHAPTER 23. Statement of Cash Flows 1, 2, 7, 8, 12 3, 4, 5, 6, 16, 17, 19 9, 20 4, 5, 9, 10, 11 10, 13, 15, 16. 7. Worksheet adjustments.

CHAPTER 23. Statement of Cash Flows 1, 2, 7, 8, 12 3, 4, 5, 6, 16, 17, 19 9, 20 4, 5, 9, 10, 11 10, 13, 15, 16. 7. Worksheet adjustments. CHAPTER 23 Statement of Cash Flows ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Format, objectives purpose, and source of statement.

More information

INDICE Preface Part 1 the accounting cycle 1 Accounting, the language of business What is accounting?

INDICE Preface Part 1 the accounting cycle 1 Accounting, the language of business What is accounting? INDICE Preface XV Part 1 the accounting cycle 1 Accounting, the language of business 2 What is accounting? The purpose and nature and accounting information, creating accounting information. Communicating

More information

國 立 體 育 大 學 100 學 年 度 學 士 班 轉 學 考 試 試 題 休 閒 產 業 經 營 學 系 二 年 級 會 計 學 ( 本 試 題 共 8 頁 )

國 立 體 育 大 學 100 學 年 度 學 士 班 轉 學 考 試 試 題 休 閒 產 業 經 營 學 系 二 年 級 會 計 學 ( 本 試 題 共 8 頁 ) 國 立 體 育 大 學 100 學 年 度 學 士 班 轉 學 考 試 試 題 休 閒 產 業 經 營 學 系 二 年 級 會 計 學 ( 本 試 題 共 8 頁 ) 注 意 : 1. 答 案 一 律 寫 在 答 案 卷 上, 否 則 不 予 計 分 2. 請 核 對 試 卷 准 考 證 號 碼 與 座 位 號 碼 三 者 是 否 相 符 3. 試 卷 彌 封 處 不 得 汚 損 破 壞 4. 行

More information

Advanced Placement (AP) Accounting Course and Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes

Advanced Placement (AP) Accounting Course and Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Advanced Placement (AP) Accounting Course and Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Course Overview The Advanced Placement (AP) Accounting Course and Exam Pilot Program

More information

ACCOUNTING 105 CONCEPTS REVIEW

ACCOUNTING 105 CONCEPTS REVIEW ACCOUNTING 105 CONCEPTS REVIEW A note from the tutors: This handout is designed to help you review important information as you study for your cumulative final exam. While it does cover many important

More information

Statement of Cash Flows

Statement of Cash Flows PREPARING THE STATEMENT OF CASH FLOWS: THE INDIRECT METHOD OF REPORTING CASH FLOWS FROM OPERATING ACTIVITIES The work sheet method described in the text book is not the recommended approach. We will provide

More information

Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes

Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Course Overview The Advanced Placement (AP) Accounting Course & Exam Pilot Program

More information

Chapter 4. Completing the accounting cycle

Chapter 4. Completing the accounting cycle 1 Chapter 4 Completing the accounting cycle 2 Learning objectives 1. Prepare an accounting worksheet and describe its purpose 2. Prepare a classified balance sheet and explain the major headings 3. Explain

More information

Expected Competencies. (The enhanced course must include the following competencies.)

Expected Competencies. (The enhanced course must include the following competencies.) Accounting I (BACCT-TP) 1202210T High School Course College WECM Equivalent Introduction to Accounting I ACNT 1303 or ACNT 1403 (or ACNT 1003 CEU) AND Introduction to Accounting II ACNT 1304 or ACNT 1404

More information

Chapter 21 The Statement of Cash Flows Revisited

Chapter 21 The Statement of Cash Flows Revisited Chapter 21 The Statement of Cash Flows Revisited AACSB assurance of learning standards in accounting and business education require documentation of outcomes assessment. Although schools, departments,

More information

Statement of Financial Accounting Standards No. 25. Statement of Financial Accounting Standards No.25. Business Combinations

Statement of Financial Accounting Standards No. 25. Statement of Financial Accounting Standards No.25. Business Combinations Statement of Financial Accounting Standards No. 25 Statement of Financial Accounting Standards No.25 Business Combinations Revised on 30 November 2006 Translated by Ling-Tai Lynette Chou, Professor (National

More information

Accounting Pilot & Bridge Project Course Outline, Learning Objectives and Student Outcomes

Accounting Pilot & Bridge Project Course Outline, Learning Objectives and Student Outcomes Accounting Pilot & Bridge Project Course Outline, Learning Objectives and Student Outcomes Course Overview The Accounting Pilot & Bridge Project is a year-long course based on high school teachers having

More information

CHAPTER 2 REVIEW OF THE ACCOUNTING PROCESS. Lecture Outline

CHAPTER 2 REVIEW OF THE ACCOUNTING PROCESS. Lecture Outline CHAPTER 2 REVIEW OF THE ACCOUNTING PROCESS Overview Chapter 1 explained that the primary means of conveying financial information to investors, creditors, and other external users is through financial

More information

Financial Accounting: Assets FA 2 Module 6. Handouts. Current financial assets And current liabilities. Presented by: Laura Dallas, CGA

Financial Accounting: Assets FA 2 Module 6. Handouts. Current financial assets And current liabilities. Presented by: Laura Dallas, CGA Accounting: Assets FA 2 Module 6 Handouts Current financial assets And current liabilities Presented by: Laura Dallas, CGA Note: this information is prepared from the best information I have available

More information

Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes

Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Course Overview The Advanced Placement (AP) Accounting Course & Exam Pilot Program

More information

6. Depreciation is a process of a. asset devaluation. b. cost accumulation. c. cost allocation. d. asset valuation.

6. Depreciation is a process of a. asset devaluation. b. cost accumulation. c. cost allocation. d. asset valuation. 1. A company purchased land for $72,000 cash. Real estate brokers' commission was $5,000 and $7,000 was spent for demolishing an old building on the land before construction of a new building could start.

More information

Advanced Accounting. Chapter 4: Financial Reporting for a Departmentalized Business

Advanced Accounting. Chapter 4: Financial Reporting for a Departmentalized Business Advanced Accounting Chapter 4: Financial Reporting for a Departmentalized Business Financial statements are used to summarize financial info and then are used to evaluate the financial position and progress

More information

ACC 255 FINAL EXAM REVIEW PACKET (NEW MATERIAL)

ACC 255 FINAL EXAM REVIEW PACKET (NEW MATERIAL) Page 1 ACC 255 FINAL EXAM REVIEW PACKET (NEW MATERIAL) Complete these sample exam problems/objective questions and check your answers with the solutions at the end of the review file and identify where

More information

Investments and advances... 313,669

Investments and advances... 313,669 Consolidated Financial Statements of the Company The consolidated balance sheet, statement of income, and statement of equity of the Company are as follows. Please note the Company s consolidated financial

More information

CASH FLOW STATEMENT & BALANCE SHEET GUIDE

CASH FLOW STATEMENT & BALANCE SHEET GUIDE CASH FLOW STATEMENT & BALANCE SHEET GUIDE The Agriculture Development Council requires the submission of a cash flow statement and balance sheet that provide annual financial projections for the business

More information

國 立 體 育 學 院 九 十 六 學 年 度 學 士 班 轉 學 考 試 試 題

國 立 體 育 學 院 九 十 六 學 年 度 學 士 班 轉 學 考 試 試 題 國 立 體 育 學 院 九 十 六 學 年 度 學 士 班 轉 學 考 試 試 題 會 計 學 ( 本 試 題 共 8 頁 ) 注 意 :1 答 案 一 律 寫 在 答 案 卷 上, 否 則 不 予 計 分 2 請 核 對 試 卷 准 考 證 號 碼 與 座 位 號 碼 三 者 是 否 相 符 3 試 卷 彌 封 處 不 得 汚 損 破 壞 4 行 動 電 話 或 呼 叫 器 等 通 訊 器 材 不

More information

Syllabus Principles of Accounting II BAN223 Spring 2016

Syllabus Principles of Accounting II BAN223 Spring 2016 Syllabus Principles of Accounting II BAN223 Spring 2016 Course Name: Principles of Accounting II Course Number: BAN 223 (ACTS 2013) Academic Year: Spring 2016 Prerequisite: BAN 213 or departmental approval.

More information

1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is known as a voucher system.

1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is known as a voucher system. Accounting II True/False Indicate whether the sentence or statement is true or false. 1. A set of procedures for controlling cash payments by preparing and approving vouchers before payments are made is

More information

2014-2015 High School Accounting II Curriculum Map

2014-2015 High School Accounting II Curriculum Map 2014-2015 High School Accounting II Curriculum Map Rev. 6/16/2014 Harrison School District Two Curriculum Map Pacing Guide The curriculum map is a paced guide to the curriculum. It is a planning tool to

More information

SYLLABUS. Title: Principles of Accounting I

SYLLABUS. Title: Principles of Accounting I Code: ACCT101 Institute: Business & Social Science Title: Principles of Accounting I Department: Accounting Course Description: An introduction to basic concepts and principles of recording and posting

More information

: Warren, C., Reeve, J. & Duchac, J. (2009). Accounting, 23 th ed. OH, USA, South-Western Cengage Publishing.

: Warren, C., Reeve, J. & Duchac, J. (2009). Accounting, 23 th ed. OH, USA, South-Western Cengage Publishing. UNIVERSITY OF PUERTO RICO AT BAYAMÓN BUSINESS ADMINISTRATION ACCOUNTING PROGRAM SYLLABUS COURSE TITLE : Elementary Accounting I COURSE CODE : CONT 3005 CREDITS : Four (4) PREREQUISITES CONTACT HOURS TEXTBOOK

More information

ACC 135. Course Package

ACC 135. Course Package 1 ACC 135 Accounting Systems and Procedures Course Package Approved August 6, 2009 2. COURSE PACKAGE FORM Contact person(s) Dr. Eric Aurand, Dr. James Childe Date of proposal to Fall 2009 Curriculum Committee

More information

Hoover City Schools Secondary Curriculum Document Career Technical Education, 2009-2010

Hoover City Schools Secondary Curriculum Document Career Technical Education, 2009-2010 Links to Document Content: HCS Curriculum: Career Technology 9 Hoover City Schools Secondary Curriculum Document Career Technical Education, 009-00 Basic Course Information Instructional Sequence Instructional

More information

Accounting 500 4A Balance Sheet Page 1

Accounting 500 4A Balance Sheet Page 1 Accounting 500 4A Balance Sheet Page 1 I. PURPOSE A. The Balance Sheet shows the financial position of the company at a specific point in time (a date) 1. This differs from the Income Statement which measures

More information

Investments and advances... 344,499

Investments and advances... 344,499 Consolidated Financial Statements of the Company The consolidated balance sheet, statement of income, and statement of equity of the Company are as follows. Please note the Company s consolidated financial

More information

CONTENTS CHAPTER - 1 : FINANCIAL ACCOUNTING : AN OVERVIEW

CONTENTS CHAPTER - 1 : FINANCIAL ACCOUNTING : AN OVERVIEW CONTENTS CHAPTER - 1 : FINANCIAL ACCOUNTING : AN OVERVIEW Introduction ; Evolution of accounting; Meaning of book keeping; Definition of book keeping; Characteristics of book keeping; Process of book keeping;

More information

Study Guide - Final Exam Accounting I

Study Guide - Final Exam Accounting I Study Guide - Final Exam Accounting I True/False Indicate whether the sentence or statement is true or false. 1. Entries in a sales journal affect account balances in both the accounts receivable ledger

More information

Learning Objectives: Quick answer key: Question # Multiple Choice True/False. 14.1 Describe the important of accounting and financial information.

Learning Objectives: Quick answer key: Question # Multiple Choice True/False. 14.1 Describe the important of accounting and financial information. 0 Learning Objectives: 14.1 Describe the important of accounting and financial information. 14.2 Differentiate between managerial and financial accounting. 14.3 Identify the six steps of the accounting

More information

Consolidated Balance Sheets

Consolidated Balance Sheets Consolidated Balance Sheets March 31 2015 2014 2015 Assets: Current assets Cash and cash equivalents 726,888 604,571 $ 6,057,400 Marketable securities 19,033 16,635 158,608 Notes and accounts receivable:

More information

COMPONENTS OF THE STATEMENT OF CASH FLOWS

COMPONENTS OF THE STATEMENT OF CASH FLOWS ILLUSTRATION 24-1 OPERATING, INVESTING, AND FINANCING ACTIVITIES COMPONENTS OF THE STATEMENT OF CASH FLOWS CASH FLOWS FROM OPERATING ACTIVITIES + Sales and Service Revenue Received Cost of Sales Paid Selling

More information

Review of Accounting Principles

Review of Accounting Principles Appendix A Review of Accounting Principles Appendix A is a review of basic accounting principles and procedures. Standard accounting procedures are based on the double-entry system. This means that each

More information

ACCOUNTING: TOOLS FOR BUSINESS DECISION MAKING, FIFTH EDITION

ACCOUNTING: TOOLS FOR BUSINESS DECISION MAKING, FIFTH EDITION CHECKLIST OF KEY FIGURES For Exercises and Problems in Kimmel, Weygandt, Kieso FINANCIAL ACCOUNTING: TOOLS FOR BUSINESS DECISION MAKING, FIFTH EDITION Chapter 1 1-4 Net income $8,400. 1-5 Net income $4,576.1.

More information

Consolidated Balance Sheets March 31, 2001 and 2000

Consolidated Balance Sheets March 31, 2001 and 2000 Financial Statements SEIKAGAKU CORPORATION AND CONSOLIDATED SUBSIDIARIES Consolidated Balance Sheets March 31, 2001 and 2000 Assets Current assets: Cash and cash equivalents... Short-term investments (Note

More information

Mathematics Crosswalk Common Core State Standards aligned to Accounting Standards

Mathematics Crosswalk Common Core State Standards aligned to Accounting Standards Connecticut State Department of Education Mathematics Crosswalk Common Core State Standards aligned to Accounting Standards The high school standards specify the mathematics that all students should study

More information

ACCOUNTING ENTRANCE EXAMINATION PRACTICE QUESTION SET J.M. TULL SCHOOL OF ACCOUNTING ENTRANCE EXAMINATION PRACTICE QUESTION SET

ACCOUNTING ENTRANCE EXAMINATION PRACTICE QUESTION SET J.M. TULL SCHOOL OF ACCOUNTING ENTRANCE EXAMINATION PRACTICE QUESTION SET ACCOUNTING ENTRANCE EXAMINATION PRACTICE QUESTION SET J.M. TULL SCHOOL OF ACCOUNTING ENTRANCE EXAMINATION PRACTICE QUESTION SET Important: PRINT your response (A,B,C,D or E) that best completes the statement

More information

EXERCISES. The cash from operating activities detail is provided as follows for class discussion:

EXERCISES. The cash from operating activities detail is provided as follows for class discussion: EXERCISES Ex. 14 1 There were net additions, such as depreciation and amortization of intangible assets of $389 million, to the net loss reported on the income statement to convert the net loss from the

More information

Financial Statements Tutorial

Financial Statements Tutorial Financial Statement Review: Financial Statements Tutorial There are four major financial statements used to communicate information to external users (creditors, investors, suppliers, etc.) - 1. Balance

More information

ADVANCED ACCOUNTING (02) REGIONAL 2006

ADVANCED ACCOUNTING (02) REGIONAL 2006 13 Pages Contestant Number Time Rank ADVANCED ACCOUNTING (02) REGIONAL 2006 Objective Questions (30 @ 2 points each) Job 1 Income Statement Job 2 Statement of Retained Earnings Job 3 Balance Sheet (60

More information

FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT 100 Arbor Drive, Suite 108 Christiansburg, VA 24073 Voice: 540-381-9333 FAX: 540-381-8319 www.becpas.com Providing Professional Business Advisory & Consulting Services Douglas L. Johnston, II djohnston@becpas.com

More information

Salem Community College Course Syllabus. Section I. Course Title: Principles Of Accounting I. Course Code: ACC121

Salem Community College Course Syllabus. Section I. Course Title: Principles Of Accounting I. Course Code: ACC121 Salem Community College Course Syllabus Section I Course Title: Principles Of Accounting I Course Code: ACC121 Lecture Hours: 4 Lab Hours: 0 Credits: 4 Course Description: An introduction to accounting

More information

Statement of Cash Flows

Statement of Cash Flows THE CONTENT AND VALUE OF THE STATEMENT OF CASH FLOWS The cash flow statement reconciles beginning and ending cash by presenting the cash receipts and cash disbursements of an enterprise for an accounting

More information

Statement of Cash Flows: Reporting and Analysis

Statement of Cash Flows: Reporting and Analysis Statement of Cash Flows: Reporting and Analysis Statement of Cash Flows: Reporting and Analysis Copyright 2014 by DELTACPE LLC All rights reserved. No part of this course may be reproduced in any form

More information

CHAE Review. Capital Leases & Forms of Business

CHAE Review. Capital Leases & Forms of Business CHAE Review Financial Statements, Capital Leases & Forms of Business This is a complete review of the two volume text book, Certified Hospitality Accountant Executive Study Guide, as published by The Educational

More information

! "#$ %&!& "& ' - 3+4 &*!&-.,,5///2!(.//+ & $!- )!* & % +, -).//0)& 7+00///2 *&&.4 &*!&- 7.00///2 )!*.//+ 8 -!% %& "#$ ) &!&.

! #$ %&!& & ' - 3+4 &*!&-.,,5///2!(.//+ & $!- )!* & % +, -).//0)& 7+00///2 *&&.4 &*!&- 7.00///2 )!*.//+ 8 -!% %& #$ ) &!&. ! "#!""#$%$#$#$"& $'"()*+,$-).,/ 012! "#$ %&!& "& '!(&)!*&%+,-).//0 -#$#3-4' &,'1$1# $!-!(.//0)& +01+///2 *&& - 3+4 &*!&-.,,5///2!(.//+ &!(!-6%(!(.//.$(!(.//0)& 01,///2 //+2% &*!&- 5,0///2 //32%!(.//+

More information

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006

MITSUI SUMITOMO INSURANCE COMPANY, LIMITED AND SUBSIDIARIES. CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 CONSOLIDATED BALANCE SHEETS March 31, 2005 and 2006 2005 2006 ASSETS Investments - other than investments in affiliates: Securities available for sale: Fixed maturities, at fair value 3,043,851 3,193,503

More information

STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION. BALANCE SHEET As of

STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION. BALANCE SHEET As of STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION BALANCE SHEET As of ASSETS CURRENT ASSETS Cash and Cash Equivalents Cash - Restricted Accounts Receivable - Trade Accounts Receivable

More information

Review of the Accounting Process THE BASIC MODEL

Review of the Accounting Process THE BASIC MODEL THE BASIC MODEL The accounting information system is designed to collect and organize data into information that is useful for stakeholders. The Accounting Equation The basic accounting equation is what

More information

Financial Statement Analysis: An Introduction

Financial Statement Analysis: An Introduction Financial Statement Analysis: An Introduction 2014 Level I Financial Reporting and Analysis IFT Notes for the CFA exam Contents 1. Introduction... 3 2. Scope of Financial Statement Analysis... 3 3. Major

More information

FBLA: ACCOUNTING I. Competency: Journalizing

FBLA: ACCOUNTING I. Competency: Journalizing Competency: Journalizing 1. Prepare a multi-column journal for recording data. 2. Record transactions such as accounts receivables and accounts payables in appropriate journals. 3. Journalize or record

More information

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED)

EMERSON AND SUBSIDIARIES CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) CONSOLIDATED OPERATING RESULTS (AMOUNTS IN MILLIONS EXCEPT PER SHARE, UNAUDITED) TABLE 1 Quarter Ended March 31, Percent Change Net Sales $ 5,854 $ 5,919 1% Costs and expenses: Cost of sales 3,548 3,583

More information

Atthapol Charoenkietkrai ACG2021 Section 2

Atthapol Charoenkietkrai ACG2021 Section 2 Atthapol Charoenkietkrai ACG2021 Section 2 Amazon has been in a good position for the last few years and still on a rise. The assets have increased, and the debt has decreased. The company has exponentially

More information

COMPLETING THE ACCOUNTING CYCLE

COMPLETING THE ACCOUNTING CYCLE 4 COMPLETING THE ACCOUNTING CYCLE objectives After studying this chapter, you should be able to: Review the seven basic steps of the accounting cycle. Prepare a work sheet. Prepare financial statements

More information

University of Waterloo Final Examination. Term: Fall Year: 2005. Core Concepts of Accounting Information

University of Waterloo Final Examination. Term: Fall Year: 2005. Core Concepts of Accounting Information University of Waterloo Final Examination Term: Fall Year: 2005 Student Name Solution UW Student ID Number Course Abbreviation and Number AFM 101 Course Title Core Concepts of Accounting Information Section(s)

More information

CHAPTER 3: PREPARING FINANCIAL STATEMENTS

CHAPTER 3: PREPARING FINANCIAL STATEMENTS CHAPTER 3: PREPARING FINANCIAL STATEMENTS I. TIMING AND REPORTING A. The Accounting Period Time period assumption an organization s activities can be divided into specific time periods. Examples: a month,

More information

Glossary of Accounting Terms Peter Baskerville

Glossary of Accounting Terms Peter Baskerville Glossary of Accounting Terms Peter Baskerville Account for or 'bring to account': An accounting phrase used to describe the recording of a financial transaction that is required under the generally accepted

More information

CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY. True-False Statements

CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY. True-False Statements CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM S TAXONOMY Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT True-False Statements 1. 1 K 9. 2 K 17. 4

More information

Chapter 8 Accounting for Receivables

Chapter 8 Accounting for Receivables Chapter 8 Accounting for Receivables Accounts Receivable Accounts Receivables are current assets. They are usually expected to be collected within 30 days. Allowance Method and Bad Debt Expense 2 methods:

More information

Glossary of Accounting Terms

Glossary of Accounting Terms Glossary of Accounting Terms Account: A record that holds the results of financial transactions. Accountant's Equation: The equation that is the basis of the Balance Sheet: Assets = Liabilities + Owners'

More information

中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試

中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試 中 原 大 學 95 學 年 度 轉 學 考 招 生 入 學 考 試 7 月 12 日 14:00~15:30 商 學 群 組 二 年 級 科 目 : 會 計 學 ( 共 七 頁 第 一 頁 ) 可 使 用 計 算 機, 惟 僅 限 不 具 可 程 式 及 多 重 記 憶 者 一 MULTIPLE CHOICE QUESTIONS: (50%) 誠 實 是 我 們 珍 視 的 美 德, 我 們 喜

More information

YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year

YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year YAVAPAI COLLEGE/PRESCOTT UNIFIED SCHOOL DISTRICT District Instructional Guide (DIG) Year-Long Semester Pacing Guide 2015/2016 School Year School: Prescott High dual enrolled with Yavapai College Grade

More information

CHAPTER 5. Examining the Balance Sheet and Statement of Cash Flows 2 4, 5 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 12, 13, 14, 15, 16

CHAPTER 5. Examining the Balance Sheet and Statement of Cash Flows 2 4, 5 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11 12, 13, 14, 15, 16 CHAPTER 5 Examining the Balance Sheet and Statement of Cash Flows ASSIGNMENT CLASSIFICATION TABLE (BY TOPIC) Topics Questions Brief Exercises Exercises Problems Concepts for Analysis 1. Disclosure principles,

More information

DTS CORPORATION and Consolidated Subsidiaries. Unaudited Quarterly Consolidated Financial Statements for the Three Months Ended June 30, 2008

DTS CORPORATION and Consolidated Subsidiaries. Unaudited Quarterly Consolidated Financial Statements for the Three Months Ended June 30, 2008 DTS CORPORATION and Consolidated Subsidiaries Unaudited Quarterly Consolidated Financial Statements for the Three Months Ended June 30, 2008 DTS CORPORATION and Consolidated Subsidiaries Quarterly Consolidated

More information

PELLISSIPPI STATE TECHNICAL COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACC 2110

PELLISSIPPI STATE TECHNICAL COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACC 2110 PELLISSIPPI STATE TECHNICAL COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING I ACC 2110 Class Hours: 3.0 Credit Hours: 3.0 Laboratory Hours: 0.0 Date Revised: Fall 2004 * Intended for transfer.

More information

Job Ready Assessment Blueprint. Accounting-Basic. Test Code: 4000 / Version: 01. Copyright 2012. All Rights Reserved.

Job Ready Assessment Blueprint. Accounting-Basic. Test Code: 4000 / Version: 01. Copyright 2012. All Rights Reserved. Job Ready Assessment Blueprint Accounting-Basic Test Code: 4000 / Version: 01 Copyright 2012. All Rights Reserved. General Assessment Information Blueprint Contents General Assessment Information Written

More information

Reporting and Analyzing Cash Flows QUESTIONS

Reporting and Analyzing Cash Flows QUESTIONS Chapter 12 Reporting and Analyzing Cash Flows QUESTIONS 1. The purpose of the cash flow statement is to report all major cash receipts (inflows) and cash payments (outflows) during a period. It helps users

More information

SOUTHWESTERN MICHIGAN COLLEGE School of Business Dowagiac, Michigan COURSE SYLLABUS Winter Session, 2004

SOUTHWESTERN MICHIGAN COLLEGE School of Business Dowagiac, Michigan COURSE SYLLABUS Winter Session, 2004 SOUTHWESTERN MICHIGAN COLLEGE School of Business Dowagiac, Michigan COURSE SYLLABUS Winter Session, 2004 COURSE TITLE: Principles of Accounting I COURSE NO.: ACCO 201 SECTION NO.: 1002 1003 CREDITS/CONTACTS:

More information

Financial Statements for Manufacturing Businesses

Financial Statements for Manufacturing Businesses Management Accounting 31 Financial Statements for Manufacturing Businesses Importance of Financial Statements Accounting plays a critical role in decision-making. Accounting provides the financial framework

More information

Consolidated Financial Statements

Consolidated Financial Statements Consolidated Financial Statements For the fiscal year ended March 31, 2013 Sony Corporation TOKYO, JAPAN Contents Management s Annual Report on Internal Control over Financial Reporting 2 Report of Independent

More information

Learning Targets: Quarter 1, Unit 1, Chapters 1 & 2 Quarter 2, Unit 2, Chapters 3 & 4 Quarter 3, Unit 3, Chapter 5 Unit 4, Chapter 6

Learning Targets: Quarter 1, Unit 1, Chapters 1 & 2 Quarter 2, Unit 2, Chapters 3 & 4 Quarter 3, Unit 3, Chapter 5 Unit 4, Chapter 6 School District of Waukesha Course Syllabus Curriculum Area: Business Education Course Title: Accounting I Prerequisites: None Course Length: Year Course #: 4004 Date Last Revised: June 2009 Stage 1: Desired

More information