Journalizing Sales and Cash Receipt Using Special Journals
|
|
|
- Sibyl French
- 5 years ago
- Views:
Transcription
1 Chapter 10 Journalizing Sales and Cash Receipt Using Special Journals Objectives 1. Define accounting terms related to sales and cash receipts for a merchandising business. 2. Identify accounting concepts and practices related to sales and cash receipts for a merchandising business. 3. Journalize sales on accounting using a sales journal. 4. Journalize cash receipts using a cash receipts journal. 5. Record sales returns and allowances using a general journal. 1
2 LESSON 10-1 Journalizing Sales on Account Using a Sales Journal 4 SALES TAX page 270 2
3 5 SALES OF MERCHANDISE ON ACCOUNT page SALES JOURNAL page 272 3
4 7 SALES INVOICE page SALE ON ACCOUNT page 273 November 3. Sold merchandise on account to Village Crafts, $540.00, plus sales tax, $32.40; total, $ Sales Invoice No Write the date. 2. Write the customer name. 3. Write the sales invoice number. 4. Write the total amount owed by the customer. 5. Write the sales amount. 6. Write the sales tax amount. 4
5 TOTALING, PROVING, AND RULING A SALES JOURNAL page Application Application Problem 10-1 (pg. 289) ault.html# 5
6 LESSON 10-2 Journalizing Cash Receipts Using a Cash Receipts Journal 12 PROCESSING SALES TRANSACTIONS page 277 Cash Register Receipt UPC (Universal Product Code) Point-of-Sale (POS) Terminal Receipt (continued on next slide) 6
7 13 PROCESSING SALES TRANSACTIONS page 277 Terminal Summary Batch Report (continued from previous slide) 14 CASH RECEIPTS JOURNAL page 278 7
8 15 CASH AND CREDIT CARD SALES page 279 November 4. Recorded cash and credit card sales, $5,460.00, plus sales tax, $327.60; total, $5, Terminal Summary Write the date. 2. Place a check mark in the Account Title column. 3. Write the terminal summary document number. 4. Place a check mark in the Post. Ref. column. 5. Write the sales amount. 6. Write the sales tax amount. 7. Write the cash amount. 16 CASH RECEIPTS ON ACCOUNT page 280 November 6. Received cash on account from Country Crafters, $2,162.40, covering S69. Receipt No Write the date. 2. Write the customer s name. 3. Write the receipt number. 4. Write the credit amount. 5. Write the debit amount. 8
9 JOURNALIZING CASH RECEIPTS ON ACCOUNT WITH SALES DISCOUNTS 17 page 282 November 7. Received cash on account from Cumberland Center, $1,176.00, covering Sales Invoice No. 74 for $1,200.00, less 2% discount, $ Receipt No Write the date. 2. Write the customer s name. 3. Write the receipt number. 4. Write the original invoice amount. 5. Write the amount of sales discount. 6. Write the debit to cash. TOTALING, PROVING, AND RULING A CASH RECEIPTS JOURNAL page
10 Application Application Problem 10-2 (pg. 289) ault.html# LESSON 10-3 Recording Transactions Using a General Journal 10
11 CREDIT MEMORANDUM FOR SALES RETURNS AND ALLOWANCES page JOURNALIZING SALES RETURNS AND ALLOWANCES 22 page 286 March 11. Granted credit to Village Crafts for merchandise returned, $58.50, plus sales tax, $3.51, from S160; total, $ Credit Memorandum No Write the date. 6. Write the sales tax amount. 2. Write Sales Returns and Allowances. 7. Write the accounts to be credited. 3. Write CM and the credit memorandum number. 8. Draw a diagonal line in the Post. Ref. column. 4. Write the amount of the sales return. 9. Write the total accounts receivable 5. Write Sales Tax Payable. amount
12 23 Terms customer sales tax sales journal cash sales credit card sales point-of-sale (POS) terminal terminal summary batch report batching out cash receipts journal sales discount sales return sales allowance credit memorandum Application Application Problem 10-3 (pg. 290) ault.html# 12
13 Homework Application Problems a. Review problems completed in class. b. Use available interactive e-work papers to complete application problems not worked in class. c. No Chapter 10 application problems are due this week. 1.2 Mastery Problem 10-4 (p. 290) Sect. 3A Due 07/18/07 Sect. 5B Due 07/16/ Quiz Chapter 5 a. Sect. 3A Due 07/18/07 Sect. 5B Due 07/16/07 b. quiz results to Instructor (pcarter9@mccneb.edu) and to yourself. Congratulations! You have made it through Chapter 10. Exam #3 Coverage Chapters 9-13 Sect 3A: 07/28/07 Sect 5B: 07/26/07 13
Journalizing Transactions
LESSON Journalizing Transactions CENTURY ACCOUNTING Thomson/South-Western Objectives:. Define accounting terms related to journalizing transactions.. Identify accounting concepts and practices related
ACCOUNTING CYCLE FOR A MERCHANDISING BUSINESS ORGANIZED AS A CORPORATION
ACCOUNTING CYCLE FOR A MERCHANDISING BUSINESS ORGANIZED AS A CORPORATION page 97. Source documents are checked, and transactions are analyzed.. Transactions are recorded in journals. 5. Journal entries
LESSON Posting to an Accounts Payable Ledger. CENTURY 21 ACCOUNTING Thomson/South-Western
LESSON - Posting to an Accounts Payable Ledger 2 Posting to an Accounts Payable Ledger There are two (2) major differences between the posting learned in this chapter (corporation) and the posting learned
Chapter 7. Financial Statements For a Proprietorship. CENTURY 21 ACCOUNTING Thomson/South-Western
Chapter 7 Financial Statements For a Proprietorship CENTURY 21 ACCOUNTING Thomson/South-Western Objectives 1. Define accounting terms related to financial statements for a service business organized as
Cash Control Systems
Chapter 5 Cash Control Systems Objectives: 1. Define accounting terms related to using a checking account and a petty cash fund. 2. Identify accounting concepts and practices related to using a checking
ACCOUNTING I Chapter 10 Reading Guide. 1. What are the two major activities of merchandising businesses?
Due: Name: Hour: ACCOUNTING I Chapter 10 Reading Guide Answer the following questions as you read Chapter 10, pages 268-288. 10-1 JOURNALIZING SALES ON ACCOUNT; USING A SALES JOURNAL 1. What are the two
Recording Departmental Sales and Cash Receipts
Recording Departmental Sales and Cash Receipts Departmental Sales on Account and Sales Returns and Allowances MasterSport records all departmental sales on account in a Sales Journal. The Sales Journal
Journalizing Sales and Cash Receipts Using Special Journals. Friday, February 25, :53:53 AM ET
Journalizing Sales and Cash Receipts Using Special Journals Customer A person or business to whom merchandise or services are sold. Sales Tax A tax on a sale of merchandise or services. Businesses must
LESSON 2-1. Departmental Sales on Account and Sales Returns and Allowances. CENTURY 21 ACCOUNTING 2009 South-Western, Cengage Learning
LESSON 2-1 Departmental Sales on Account and Sales Returns and Allowances 2 Departmental Sales on Account Sales on account are recorded by department in order to help management make decisions Sales on
LESSON Journalizing Purchases Using a Purchases Journal
LESSON 9-1 - Journalizing Purchases Using a Purchases Journal Service business vs. merchandising business Service business sells services for a fee nail salon, attorney Merchandising business purchases
Accounting I Chapter 9 JOURNALIZING PURCHASES AND CASH PAYMENTS. Assign Students to Read Ch. 9 and complete the terms p. 234
Accounting I Chapter 9 JOURNALIZING PURCHASES AND CASH PAYMENTS Assign Students to Read Ch. 9 and complete the terms p. 234 (Students may hand-write them on handout or do on word processor) Discuss Section
Chapter 4: Posting from a General Journal to a General Ledger
Chapter 4: Posting from a General Journal to a General Ledger Goals of Chapter 4: Define accounting terms related to posting form a general journal to a general ledger Identify accounting concepts and
Posting from a General Journal to a General Ledger. Tuesday, October 26, :48:47 PM ET
Posting from a General Journal to a General Ledger Account Form Based on the T account (Debit and Credit sides). Transaction Date and Journal page number. Balance-Ruled Account Form A form that has columns
Account Form. Used to summarize in one place all the changes to a single account A separate form for each account. Sample of a blank account form
Learning Objectives LO1 Construct a chart of accounts for a service business organized as a proprietorship. LO2 Demonstrate correct principles for numbering accounts. LO3 Apply file maintenance principles
Accounting 1. Lesson Plan. Topic: Distributing Dividends and Preparing a Work Sheet for a Unit: 4 Chapter 26 Corporation
Accounting 1 Lesson Plan Name: Terry Wilhelmi Day/Date: Topic: Distributing Dividends and Preparing a Work Sheet for a Unit: 4 Chapter 26 Corporation I. Objective(s): By the end of today s lesson, the
LESSON Recording A Payroll. CENTURY 21 ACCOUNTING Thomson/South-Western
LESSON 13-1 Recording A Payroll 2 PAYROLL REGISTER page 369 Total Earnings = Salary Expense Deductions all become Payables Net pay = Cash LESSON 13-1 3 ANALYZING PAYMENT OF A PAYROLL page 370 LESSON 13-1
Journalizing Sales and Cash Receipts Using Special Journals
C H A P T E R 1 0 Journalizing Sales and Cash Receipts Using Special Journals STOCKBYTE/GETTY IMAGES O B J E C T I V E S After studying Chapter 10, you will be able to: 1. Define accounting terms related
Chapter 9 Recording Adjusting and Closing Entries
Chapter 9 Recording Adjusting and Closing Entries Fiscal Period Length of time for which a business reports and summarizes financial information Concept: Accounting Period Cycle: reporting changes in financial
LESSON Preparing an Income Statement. CENTURY 21 ACCOUNTING Thomson/South-Western
Preparing an Income Statement 2 Uses of Financial Statements Financial statements provide the source of information needed by owners and managers to make decisions on the future activity of a business
LESSON Recording A Payroll. CENTURY 21 ACCOUNTING 2009 South-Western, Cengage Learning
LESSON 13-1 Recording A Payroll 2 PAYROLL REGISTER page 369 Use the payroll register to record the payment of the payroll. The payment of the payroll is recorded in the cash payments journal. LESSON 13-1
Learning Objectives. LO1 Journalize and post closing entries for a service business organized as a proprietorship.
Learning Objectives LO1 Journalize and post closing entries for a service business organized as a proprietorship. Lesson 8-1 Need for Permanent and Temporary Accounts Accounts used to accumulate information
Learning Objective. LO1 Prepare an income statement for a merchandising business organized as a corporation.
Learning Objective LO1 Prepare an income statement for a merchandising business organized as a corporation. Lesson 16-1 Uses of Financial Statements LO1 A corporation prepares an income statement and a
1 of 8 8/11/2014 11:20 AM Units: Teacher: Accounting, CORE Course: Accounting Year: 2012-13 Accounting Activities for a Service Business owned by a Sole Proprietor Other standards 2.4.G 2.5.G Content Skills
Accounting 1. Lesson Plan. Topic: Recording Sales and Cash Receipts Using Special Journals Unit: 4 Chapter 20
Accounting 1 Lesson Plan Name: Terry Wilhelmi Day/Date: Topic: Recording Sales and Cash Receipts Using Special Journals Unit: 4 Chapter 20 I. Objective(s): By the end of today s lesson, the student will
Accounting I. Lesson Plan. Name: Terry Wilhelmi Day/Date: Topic: Journalizing Purchases and Cash Payments Unit: 3 Chapter 11
Accounting I Lesson Plan Name: Terry Wilhelmi Day/Date: Topic: Journalizing Purchases and Payments Unit: 3 Chapter 11 I. Objective(s): By the end of today s lesson, the student will be able to: define
Chapter 16. Financial Statements for a Partnership. South-Western Educational Publishing
Chapter 16 Financial Statements for a Partnership Reporting Financial Information Adequate Disclosure Concept Applied when financial statements contain all information necessary to understand a business
District > Intermediate > Business Education > Accounting II ( ) (District) > Juett, David
Granite School District Accounting II (52.0322) (District) District > Intermediate > Business Education > Accounting II (52.0322) (District) > Juett, David Unit Essential Questions Content Skills Vocabulary
Introduction Cengage Learning. All Rights Reserved.
Introduction How would you obtain a balance for any account recorded in the journal? How do you keep track of cash received and spent? Name different ways you can pay with cash. What types of accounts
LESSON Recording A Payroll. CENTURY 21 ACCOUNTING Thomson/South-Western
Recording A Payroll 2 Different Forms of Payroll Information Payroll information for each pay period is recorded in a payroll register Each pay period the payroll information for each employee is also
Acct 151A Week 7, Chap 6. Instructor: Michael Booth Cabrillo College
Acct 151A Week 7, Chap 6 Instructor: Michael Booth Cabrillo College McGraw-Hill 2007 The McGraw-Hill Companies, Inc. All rights reserved. Closing Entries and the Postclosing Trial Balance Closing Entries
The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
1-1 2012 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 8 1 Chapter Accounting for Purchases and Accounts Payable 8 Section 1: Merchandise Purchases Section Objectives 1. Record
ACCOUNTING STATE COMPETENCY TEST REVIEW
ACCOUNTING STATE COMPETENCY TEST REVIEW Source Documents Documents that are analyzed to determine what happened in a transaction Memorandum a note written by the company when there is no other source document
Accounting. Chapter 6
Accounting Chapter 6 Aim: What are four source documents and when would they be used? Do Now: Take a Do Now slip. Answer: Why do people use journals? Have you ever kept a daily journal of the things that
Bixby Public Schools Essential Elements Grade: 10-12
Course: Accounting Essential Elements Grade: 10-12 Weeks 1-6 Chapter 1 describes how a proprietorship is started & the transactions that occur when the business is organized. The accounting equation is
Ch.7 Accounting for a Merchandising Business: Purchases and Cash Payments
Ch.7 Accounting for a Merchandising Business: Purchases and Cash Payments 1 Procedures and forms used in purchasing merchandise Record credit purchases in a general journal and a purchases journal, and
Allowance Method of Recording Losses from Uncollectible Accounts
Learning Objectives LO1 Explain the purpose of the allowance method for recording losses from uncollectible accounts. LO2 Estimate uncollectible accounts expense using an aging of accounts receivable.
Learning Objectives. LO1 Prepare the heading of a work sheet. LO2 Prepare the trial balance section of a work sheet.
Learning Objectives LO1 Prepare the heading of a work sheet. LO2 Prepare the trial balance section of a work sheet. Lesson 6-1 Consistent Reporting The accounting concept Consistent Reporting is applied
Accounting 1. Lesson Plan. Name: Terry Wilhelmi Day/Date:
Accounting 1 Lesson Plan Name: Terry Wilhelmi Day/Date: Topic: Financial Statements and End-of-Fiscal-Period Entries Unit: 4 Chapter 27 for a Corporation I. Objective(s): By the end of today s lesson,
Brunswick School Department: Grades 9-12
Understandings Questions Brunswick School Department: Grades 9-12 The subsidiary ledger is used to summarize a single general ledger The subsidiary ledger is used by many businesses that have large numbers
Reporting Financial Information
Learning Objectives LO1 Prepare an income statement for a service business. LO2 Calculate and analyze financial ratios using income statement amounts. Lesson 7-1 Reporting Financial Information LO1 The
MERCHANDISING OPERATIONS
MERCHANDISING OPERATIONS Key Topics to Know Merchandising Businesses The revenue account is Sales, not Fees Earned New expense account, Cost of Goods Sold (COGS), records the cost of merchandise inventory
District > Basic > Business Education > Accounting I ( ) (District) > Juett, David
Granite School District I (52.0312) (District) District > Basic > Business Education > I (52.0312) (District) > Juett, David Unit Essential Questions Content s Vocabulary Formative & Understanding (Week
Analyzing Transactions
C H A P T E R 2 Analyzing Transactions QUIZ AND TEST HINTS The following hints may be helpful to you in preparing for a quiz or a test over the material covered in Chapter 2. 1. Terminology is important
Study Guide 24. Part One Identifying Accounting Terms. Column II. Answers. Column I
Study Guide 24 Name Part One Identifying Accounting Terms Identifying Accounting Terms Analyzing International and Internet Sales Analyzing Accounts Affected by International and Internet Transactions
Chapter 6: Worksheets for a Service Business
Chapter 6: Worksheets for a Service Business Goals of Chapter 6: Define accounting terms related to a worksheet for a service business organized as a proprietorship Identify accounting concepts and practices
ACCOUNTING I. 1. The cash account is used to summarize information about the amount of money the business has available.
ACCOUNTING I True/False Indicate whether the sentence or statement is true or false. 1. The cash account is used to summarize information about the amount of money the business has available. 2. The source
Accounting Glossary 1. an equation showing the relationship among assets, liabilities, and
Accounting Glossary 1 GLOSSARY A Account a record summarizing all the information pertaining to a single item in the accounting equation. (p. 10) Account balance the amount in an account. (p. 10) Account
Week 5, Chap 4 Part 1
Slide 1 Week 5, Chap 4 Part 1 The General Journal and the General Ledger Instructor: Michael Booth Slide 2 The General Journal and the General Ledger The General Journal Section Objectives 1. Record transactions
Accounting Principles (203) Dr. Mishari Alfraih
1. Which of the following will cause owner's equity to increase? A. Expenses B. Owner s drawings D. loss 2. XYZ Co. provided the following information about its balance sheet: Cash K.D. 1,000 Account receivable
ACCOUNTING SEMESTER 1. Final Exam Review
ACCOUNTING SEMESTER 1 Final Exam Review 1 ACCOUNTING SEMESTER 1 30 T & F 70 MC Questions with pictures 5-Worksheet 6-Journals 3-Cash Payment Journal 2 CHAPTER 1 What is the accounting equation? Assets=Liabilities
LO1 Record a deposit on a check stub. LO2 Endorse checks using blank, special, and restrictive endorsements. LO3 Prepare a check stub and a check.
Learning Objectives LO1 Record a deposit on a check stub. LO2 Endorse checks using blank, special, and restrictive endorsements. LO3 Prepare a check stub and a check. Lesson 5-1 How Businesses Use Cash
a) Post-closing trial balance c) Income statement d) Statement of retained earnings
Note: The formatting of financial statements is important. They follow Generally Accepted Accounting Principles (GAAP), which creates a uniformity of financial statements for analyzing. This allows for
Week 5, Chap 4 Part 2
Slide 1 Week 5, Chap 4 Part 2 The General Journal and the General Ledger Instructor: Michael Booth Slide 2 The General Journal Objective Prepare compound journal entries. McGraw-Hill 2007 The McGraw-Hill
FUNDAMENTAL ACCOUNTING (100) Secondary
Page 1 of 12 FUNDAMENTAL ACCOUNTING (100) Secondary REGIONAL 2015 Multiple Choice & Short Answer Section: Contestant Number: Time: Rank: Multiple Choice (25 @ 2 points each) Account Classification (10
Chapter 4. Posting to a General Ledger
Chapter 4 Posting to a General Ledger Introduction In the last chapter we journalized transactions. Now we have to post these entries to their own accounts so they can be analyzed if needed. 4-1 Terms
Total Test Questions: 57 Levels: Grades Units of Credit:.50
DESCRIPTION Students will develop advanced skills that build upon those acquired in Accounting I. Students continue applying concepts of double-entry accounting systems related to merchandising businesses.
Chapter 5: Cash Control Systems
Chapter 5: Cash Control Systems Goals of Chapter 5: Define accounting terms related to using a checking account and a petty cash fund Identify accounting concepts and practices related to using a checking
FINANCIAL STATEMENTS: INCOME STATEMENT & ASSET DISPOSAL 08 AUGUST 2013
FINANCIAL STATEMENTS: INCOME STATEMENT & ASSET DISPOSAL 08 AUGUST 2013 Lesson Description In this lesson we: Focus on income statement adjustments and calculating profit/loss on sale of asset. Questions
FUNDAMENTAL ACCOUNTING (100) Secondary
Page 1 of 12 FUNDAMENTAL ACCOUNTING (100) Secondary REGIONAL 2015 Multiple Choice & Short Answer Section: Contestant Number: Time: Rank: Multiple Choice (25 @ 2 points each) Account Classification (10
Century 21 Accounting, 9e Multicolumn Journal Chapter Outlines
Century 21 Accounting, 9e Multicolumn Journal Chapter Outlines PART 1 Chapter 1 ACCOUNTING FOR A SERVICE BUSINESS ORGANIZED AS A PROPRIETORSHIP Starting A Proprietorship: Changes that Affect the Accounting
CENTURY 21 ACCOUNTING, 9e General Journal Chapter Objectives
CENTURY 21 ACCOUNTING, 9e 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
The General Ledger. The 4 th step of the accounting cycle is to post to the ledger.
The General Ledger 4 Post to the ledger The 4 th step of the accounting cycle is to post to the ledger. The General Ledger is a book containing a separate page for each business account. The General Ledger
Principles of Accounting II
Principles of Accounting II Lecture 1 Adjusting the Accounts Basic Accounting Equation What the business owns = What the business owes Assets = Liabilities (owed to creditors)+ Owners Equity (residual
FUNDAMENTAL ACCOUNTING (01)
13 Pages Contestant Number Time Rank FUNDAMENTAL ACCOUNTING (01) Regional 2009 Multiple Choice (30 @ 2 points each) Account Identification (39 @ 1 point each) Production Portion Problem 1: Journalizing
How to Journalize using Data Entry
Steps Essential to Success 1. Print a copy of the Problem you intend to complete. To do so, go to the software log-in page and click on Download Student Manual button, click on the Problem to open it.
Week 4/5, Chap 4. The General Journal and the General Ledger. Instructor: Michael Booth
Week 4/5, Chap 4 The General Journal and the General Ledger Instructor: Michael Booth Complete the trial balance 1. Enter the trial balance heading showing the company name, report title, and closing date
Prepare, Apply, and Confirm with MyAccountingLab
Prepare, Apply, and Confirm with MyAccountingLab Hallmark Features Personalized Learning Aids, like Help Me Solve This, Demo Docs, and instant feedback are available for further practice and mastery when
Ch.8 Accounting for a Merchandising Business: Sales and Cash Receipts
Ch.8 Accounting for a Merchandising Business: Sales and Cash Receipts Procedures and forms used in selling merchandise Credit sales Sales Journal Sales returns and allowances Sales discounts Posting procedure
The General Journal and the General Ledger
chapter College Accounting The General Journal and the General Ledger 11 th Edition 3 1 Learning Objectives After you have completed this chapter, you will be able to do the following: 3 2 The General
Contents: Interview Summary...2. Assignment Text excerpt for Assignment Syllabus...11
College: Great Bay Community College Course: Introduction Dan Murphy Text: Fundamental Accounting Principles, 19 th Ed; Wild, Shaw, Chiappetta Contents: Interview Summary...2 Assignment 1...3 Text excerpt
Accounting for Merchandising Businesses
C H A P T E R 5 Accounting for Merchandising Businesses Corporate Financial Accounting 13e Warren Reeve Duchac human/istock/360/getty Images Operating Cycle The operating cycle is the process by which
Accounting Fundamentals: Journals
Directions: Fill in the blanks. 1. Journals Are a form for recording transactions in chronological order journal entries include the transaction amounts, which accounts are affected and how the accounts
Accounting Basics Introduction To Financial Accounting
Accounting Basics Introduction To Financial Accounting ILLUSTRATION 1-5 BASIC ACCOUNTING EQUATION The Basic Accounting Equation Assets = Liabilities + Owner s Equity ASSETS AS A BUILDING BLOCK Assets are
HOW TO MAKE SALES LEDGER PAYMENTS
HOW TO MAKE SALES LEDGER PAYMENTS There are three ways through which you can make sales ledger payments in HART PMS. This guide gives you a short description on how you can do each one of them: A. SALES
ACCT 652 Accounting. Review of last week. Review of last week (2) 12/29/15. Week 2 Charts of accounts, Journals, T-accounts, and special journals
ACCT 652 Accounting Week 2 Charts of accounts, Journals, T-accounts, and special journals Some slides Times Mirror Higher Education Division, Inc. Used by permission Michael D. Kinsman, Ph.D. Review of
DOWNLOAD PDF GENERAL JOURNAL ENTRIES EXAMPLES
Chapter 1 : Accounting Journal Entries â Accounting Questions and Answers Journal entries use debits and credits to record the changes of the accounting equation in the general journal. Traditional journal
BUSA PRACTICAL ACCOUNTING I/II Entiat High School
BUSA 102 - PRACTICAL ACCOUNTING I/II Student Entiat High School 2010-2011 Cycle 1 1 Define and identify asset, liability, and owner s equity accounts. 1.1 2 Define a fiscal period and a fiscal year. 1.1
Accounting Terms Chap 1-8
Accounting Terms Chap - TERM DEFINITION CHAPTER Account Account balance A record that summarizes all the transactions pertaining to a single item in the equation. The difference between the increases and
LESSON 8-1. Recording Adjusting Entries. CENTURY 21 ACCOUNTING Thomson/South-Western
LESSON 8-1 Recording Adjusting Entries 2 TERM REVIEW page 205 Adjusting Entries journal entries recorded to update general ledger accounts at the end of a fiscal period Adjustments must be journalized
Investments and Fair Value Accounting
C H A P T E R 15 Investments and Fair Value Accounting QUIZ AND TEST HINTS The following hints may be helpful to you in preparing for a quiz or a test over the material covered in Chapter 15. 1. This chapter
PELLISSIPPI STATE COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING II ACC 2030
PELLISSIPPI STATE COMMUNITY COLLEGE MASTER SYLLABUS PRINCIPLES OF ACCOUNTING II ACC 2030 Class Hours: 3.0 Credit Hours: 3.0 Laboratory Hours: 0.0 Revised: Spring 2011 * Intended for transfer. Catalog Course
Trial Balance. Format of Trial Balance. The under mention points may be noted for preparing a trial balance.
Trial Balance All the businessmen after completion of posting from journal or subsidiary books to the ledger want to verify the accuracy of the posting. For this purpose, our statement is prepared wherein
Chapter 3 Question Review 1
Chapter 3 Question Review 1 Chapter 3 Questions Multiple Choice 1. If services are rendered on account, then a. assets will decrease. b. liabilities will increase. c. stockholders equity will increase.
DE ANZA COLLEGE ACCOUNTING 1A EXTRA CREDIT ASSIGNMENT. (Manual Case, and Working Papers) Scott Osborne, CPA
DE ANZA COLLEGE ACCOUNTING 1A EXTRA CREDIT ASSIGNMENT (Manual Case, and Working Papers) by Scott Osborne, CPA 1 EXPLANATION OF EXTRA CREDIT ASSIGNMENT The extra credit assignment consists of a manual accounting
MANAGEMENT 2100Y - MIDTERM EXAM SPRING 2013
MANAGEMENT 2100Y - MIDTERM EXAM SPRING 2013 INSTRUCTOR: Steven Dyer STUDENT: INSTRUCTIONS: 1. Programmable calculators are not allowed in this exam. 2. Check that there are 15 pages (including the title
HS Accounting I 2013 Business and Technology
Course Description Students will learn the fundamentals and principles of double-entry accounting for service and merchandising businesses. This course focuses on financial reports along with transactions,
Accounting 3 4. Course Outline. Board Approved: October 10, I. Course Information. A. Course Title: Accounting 3-4. B. Course Code Number: BU143
Accounting 3 4 Course Outline Board Approved: October 10, 1995 I. Course Information A. Course Title: Accounting 3-4 B. Course Code Number: BU143 C. Course Length: One Year D. Grade Level: 12 E. Units
DE ANZA COLLEGE Accounting 1A Comprehensive Problem for Lawrence Scott Osborne's Class ONLY. Y. Chang Company COVER SHEET
DE ANZA COLLEGE Accounting 1A Comprehensive Problem for Lawrence Scott Osborne's Class ONLY Y. Chang Company COVER SHEET The purpose of this project is to give you experience doing manual accounting. You
Work4Me. Algorithmic Version. Aging Accounts Receivable. Problem Eleven. 1 st Web-Based Edition
Work4Me Algorithmic Version 1 st Web-Based Edition Problem Eleven Aging Accounts Receivable Page 1 INTRODUCTION Log on to Algorithmic Work4Me II and from the Problems Menu Bar, select Problem 11, Aging
Work Sheets for Exercises 7-3, 7-4, and 7-5 appear on the following pages. Exercise 7-6 a.
Exercise 7-1 CROCKER COMPANY Schedule of Corrected Net Income Year 2005 2006 2007 Total Exercise 7-2 Work Sheets for Exercises 7-3, 7-4, and 7-5 appear on the following pages. Exercise 7-6 a. KETTLE COMPANY
Study Guide. for the Casualty Insurance Exam. License Exam Manual. InsurancePro QBank/Exam Management
Study Guide for the Casualty Insurance Exam This guide provides you with both a study calendar and information on which sections of the materials you will need to study in preparing for your Casualty Insurance
Chapter 2 Recording Business Transactions
Horngren's Accounting, The Financial Chapters 11th Edition Solutions Manual Miller-Nobles Solutions Manual, Answer key, Instructor's resource Manual, Try It Solutions, Working Papers Solutions are include.
Accounting I PRECISION EXAMS DESCRIPTION. EXAM INFORMATION Items
PRECISION EXAMS EXAM INFORMATION Items 67 Points 73 Prerequisites NONE Course Length ONE SEMESTER DESCRIPTION The first summative assessment in a series, measures the knowledge and skills necessary for
Chapter 8. Recording Adjusting and Closing Entries
Chapter 8 Recording Adjusting and Closing Entries Adjusting Entries Adjusting Entries - journal entries recorded to update general ledger accounts at the end of a fiscal period (Supplies & Prepaid Insurance).
Accounting Vocabulary
Accounting Vocabulary A. Accounting: planning, recording, analyzing and interpreting financial information. Accounting Equation: an equation showing the relationship among assets, liabilities, and owner
Chapter 2 Debits and Credits: Analyzing and Recording Business Transactions. Chapter Overview. Learning Objectives
Chapter 2 Debits and Credits: Analyzing and Recording Business Transactions Chapter Overview This chapter transitions from analyzing transactions and listing each account in a potentially long accounting
PASS4TEST. IT Certification Guaranteed, The Easy Way! We offer free update service for one year
PASS4TEST \ http://www.pass4test.com We offer free update service for one year Exam : 1z0-506 Title : Oracle Fusion Financials 11g Accounts Receivable Essentials Vendor : Oracle Version : DEMO Get Latest
SENECA HIGH SCHOOL CURRICULUM MAP BUSINESS/COMPUTER EDUCATION ACCOUNTING II
UNIT 1 Accounting for Sales and Cash Receipts How do merchandising businesses keep track of what is sold and how much money is collected? How does this benefit the consumer? Accounting for a Merchandising
2Recording Departmental
Recording Departmental Sales and Cash Receipts AFTER STUDYING CHAPTER, YOU WILL BE ABLE TO:. Define terms related to departmental sales and cash receipts.. Identify concepts and practices related to departmental
Analyzing Transactions
Principles of Accounting HelpLesson #2 Analyzing Transactions Business Transaction A business transaction is any event that affects the financial condition of a company and can be reliably measured in