Accounting principles chapter 04

... CHAPTER COMPLETING THE ACCOUNTING CYCLE Accounting Principles, Eighth Edition Chapter 4-2 Study Study Objectives Objectives Prepare a worksheet ... in the accounting cycle Explain the approaches to preparing correcting entries Identify the sections of a classified balance sheet Chapter 4-3 Completing Completing the the Accounting Accounting ... 3,170 1,050 200 960 200 350 13,45...

Ngày tải lên: 05/04/2017, 15:19

... on the first day of an accounting period – It has the opposite effect of an adjusting entry made at the end of the previous period: It debits the credits and credits the debits of an earlier adjusting ... their end -of- period balances into the next accounting period – Revenue and expense accounts are considered temporary accounts (or nominal accounts) because they are cleared by...

Ngày tải lên: 15/05/2017, 15:43

... Instructions Using the above information, complete the worksheet on the following page for Yang Bakery for the month of October 4-20 4-21 Closing the Books At the end of the accounting period, the company ... one year or the operating cycle, whichever is longer Operating cycle is the average time it takes from the purchase of inventory to the collection of cash fr...

Ngày tải lên: 13/05/2015, 02:48

... Exercise 4-15 211 212 Chapter Lecture Notes Helpful Hint: Before beginning the lecture, show students the fourth segment from the first tape of the McGraw-Hill/Irwin Managerial/ Cost Accounting video ... segment introduces students to many of the concepts discussed in chapter The lecture notes reinforce the concepts introduced in the video Chapter theme: Managers need to assign costs...

Ngày tải lên: 23/11/2016, 10:46

... Chapter 4: The Mechanics of Financial Accounting Chapter 4: The Mechanics of Financial Accounting   The first step in the accounting process is transaction analysis This process examines ... The financial statements for Kelly Supply (next slides), and other examples in text, can be used as guidelines to prepare financial statements The financials should be prepared in...

Ngày tải lên: 24/11/2016, 11:11

... environment of marketing Explain the basics of foreign and domestic competition © 2015 Cengage Learning Inc All Rights Reserved The External Marketing Environment Discuss the external environment of marketing, ... the external environment of marketing, and explain how it affects a firm Describe the social factors that affect marketing Explain the importance to marketing mana...

Ngày tải lên: 09/12/2016, 12:20

... CHAPTER ACCOUNTING IN ACTION After studying this chapter, you should be able to: • Explain what accounting is • Identify users and uses of accounting • Understand why ... concept • Explain the meaning of generally accepted accounting principles and the cost principle CHAPTER ACCOUNTING IN After studying thisACTION chapter, you should be able to: • Explain the meaning ... BOO...

Ngày tải lên: 05/04/2017, 14:48

... CHAPTER THE RECORDING After studying this chapter, you should be able to: PROCESS Explain what an account is and how ... process Explain what a journal is and how it helps in the recording process CHAPTER THE RECORDING After studying PROCESS this chapter, you should be able to: Explain what a ledger is and how it helps ... trial balance and explain its purpose THE ACCOUNT STUDY OBJECTIV...

Ngày tải lên: 05/04/2017, 14:48

... accrual-basis accounting is incorrect? a Accrual-basis accounting follows the revenue recognition principle b Accrual-basis accounting is the method required by generally accepted accounting principles ... Accrual-basis accounting follows the revenue recognition principle b Accrual-basis accounting is the method required by generally accepted accounting principles c Accrual-...

Ngày tải lên: 05/04/2017, 14:48

... inventory system explain the steps in the accounting cycle for a merchandising company CHAPTER ACCOUNTING FOR MERCHANDISING OPERATIONS After studying this chapter, you should be able to: distinguish ... CHAPTER ACCOUNTING FOR MERCHANDISING OPERATIONS After studying this chapter, you should be able to: identify the differences between ... goods on hand at the beginning of the acco...

Ngày tải lên: 05/04/2017, 14:48

... CHAPTER INVENTORIES After studying this chapter, you should be able to: Describe steps in determining inventory quantities Explain the basis of accounting for inventories ... determined when sale occurs Periodic • cost of goods sold is determined at the end of accounting period Basis of Accounting for Inventories Periodic Cost Flow Methods STUDY OBJECTIVE • Revenues from ... classifi...

Ngày tải lên: 05/04/2017, 14:48

... CHAPTER ACCOUNTING INFORMATION SYSTEMS After studying this chapter, you should be able to: Identify basic principles of accounting information systems Explain ... operations with manual accounting systems and convert to computerized systems as business grows • To understand computerized accounting systems– one must understand how manual accounting systems ... STUDY OBJECTIVE A...

Ngày tải lên: 05/04/2017, 14:48

... CHAPTER INTERNAL CONTROL AND CASH After studying this chapter, you should be able to: Define internal control Identify the principles of internal control Explain ... organization’s assets Enhances the accuracy and reliability of accounting records PRINCIPLES OF INTERNAL CONTROL STUDY OBJECTIVE PRINCIPLES OF INTERNAL CONTROL • Establishment of responsibility: ... internal control Ex...

Ngày tải lên: 05/04/2017, 14:49

... CHAPTER ACCOUNTING FOR RECEIVABLES After studying this chapter, you should be able to: Identify the different types of receivables ... receivable Compute the maturity date of and interest on notes receivable CHAPTER ACCOUNTING FOR RECEIVABLES After studying this chapter, you should be able to: Explain how notes receivable are recognized ... receivables Examples: interest receivable...

Ngày tải lên: 05/04/2017, 14:49

... CHAPTER 10 PLANT ASSETS, NATURAL RESOURCES, AND INTANGIBLE After studying this ASSETS chapter, you should be able to: Describe how the cost ... business, and private monopolistic arrangements ACCOUNTING FOR INTANGIBLE ASSETS • In general, accounting for intangible assets parallels the accounting for plant assets • Intangible assets are: ... eliminated and gain or loss, if any, is r...

Ngày tải lên: 05/04/2017, 14:49