Schaum's outline of theory and problems of bookkeeping and accounting Book

Preface     xi
The Bookkeeping Cycle     1
Assets, Liabilities, and Capital     3
Nature of Bookkeeping and Accounting     3
Basic Elements of Financial Position: The Accounting Equation     3
Debits and Credits: The Double-Entry System     15
Introduction     15
The Account     15
Debits and Credits     16
The Ledger     18
The Chart of Accounts     19
The Trial Balance     19
Journalizing and Posting Transactions     32
Introduction     32
The Journal     32
Journalizing     33
Posting     34
Financial Statements     52
Introduction     52
Income Statement     52
Accrual Basis and Cash Basis of Accounting     53
Balance Sheet     53
Statement of Owner's Equity     55
The Statement of Cash Flows     55
Financial Statement Summary     56
Classified Financial Statements     56
Adjusting and Closing Procedures     85
Introduction: The Accrual Basis of Accounting     85
Adjusting Entries Covering Recorded Data     85
Adjusting Entries Covering Unrecorded Data     87
Closing Entries     88
Ruling Accounts     90
Post-Closing Trial Balance     92
Bookkeeping and Accounting Cycle     92
Comprehensive Review Problem     107
Examination I     117
Computer Application: Peachtree Complete Software Introduction     126
Introduction     126
Illustration     126
Conclusion     139
Special Journals, Ledgers, and the Worksheet     141
Repetitive Transactions: The Sales and the Purchases Journals     143
Introduction     143
Sales Journal     143
Special Ledgers (Subsidiary Ledgers)     144
Sales Returns and Discounts     146
Types of Ledger Account Forms     147
Purchases as a Cost     148
Trade Discounts     148
Purchase Control     148
Purchase Invoices     149
Purchases Journal     149
Subsidiary Accounts Payable Ledger     150
Return of Merchandise     151
Purchase Discounts     152
The Cash Journal     173
Introduction      173
Cash Receipts Journal     173
Cash Disbursements Journal     175
Combination Cash Journal     176
Comprehensive Review Problem     184
Summarizing and Reporting via the Worksheet     193
Introduction     193
Worksheet Procedures for a Service Business     193
Examination II     206
Merchandising     219
The Merchandising Company     221
Introduction     221
Purchases     221
Adjusting Entry Procedures     222
Worksheet Procedures     222
Closing Entries     225
Financial Statement Treatment     226
Summary     227
Comprehensive Review Problem     246
Costing Merchandise Inventory     252
Introduction     252
Determining Inventory: Physical Count     252
Determining Inventory: Estimation     258
Pricing Merchandise     274
Trade Discounts     274
Chain Discounts     275
Cash Discounts     276
Markup     278
Selling Price as a Basis: Computing Percent Markup     278
Cost as a Basis      279
Markdowns     280
Turnover-Ratios for Inventory     280
Number of Days' Sales in Inventory     282
Examination III     287
Specific Bookkeeping and Accounting Topics     295
Negotiable Instruments     297
Introduction     297
Methods of Computing Interest     298
Accounting for Notes Payable and Notes Receivable     300
Discounting     302
Dishonored Notes Receivable     302
Recording Uncollectible Accounts     303
Computing Uncollectible Accounts     304
Recovery of Uncollectible Accounts     306
Controlling Cash     319
Introduction     319
Controlling Cash Receipts     319
Controlling Cash Disbursements     319
Controlling Cash Balances     320
Bank Statements     320
Petty Cash     322
Payroll     337
Gross Pay     337
Deductions from Gross Pay     338
The Payroll System     341
Recording the Payroll     342
Property, Plant, and Equipment: Depreciation     353
Fixed Assets     353
Depreciation and Scrap Value      353
Depreciation Methods     354
Examination IV     367
Other Business Organizations     371
The Partnership     373
Characteristics of the Partnership     373
Formation of the Partnership     373
Division of Net Income and Loss     374
Admission of a New Partner     377
Liquidation of a Partnership     379
The Corporation     403
Characteristics of the Corporation     403
Corporate Terminology     403
Advantages of the Corporate Form     404
Disadvantages of the Corporate Form     404
Equity Accounting for the Corporation     404
Common Stock     406
Preferred Stock     406
Issue of Stock     407
Book Value     409
Earnings per Share     409
Bond Characteristics     410
Funding by Stock versus Funding by Bonds     410
Examination V     428
Mathematics     433
Operations with Decimals     433
Percentages     434
Statistical Methods     437
Glossary of Bookkeeping and Accounting Terms     445
Index      453