Part 1 |
Accounting for a Service Business |
|
Chapter 1 |
Introduction to Accounting |
1 |
|
The Purpose of Accounting |
2 |
|
The Accounting Process |
3 |
|
Three Types of Ownership Structures |
3 |
|
Sole Proprietorship |
4 |
|
Partnership |
4 |
|
Corporation |
4 |
|
Types of Businesses |
4 |
|
Career Opportunities in Accounting |
5 |
|
Accounting Clerks |
5 |
|
Bookkeepers and Para-Accountants |
5 |
|
Accountants |
6 |
|
Job Opportunities |
7 |
|
Managing Your Writing Feature |
9 |
|
Key Points |
11 |
|
Key Terms |
11 |
|
Review Questions |
12 |
|
Managing Your Writing |
13 |
|
Exercises |
13 |
Chapter 2 |
Analyzing Transactions: The Accounting Equation |
15 |
|
The Accounting Elements |
16 |
|
Assets |
16 |
|
Liabilities |
16 |
|
Owner's Equity |
17 |
|
The Accounting Equation |
18 |
|
Analyzing Business Transactions |
18 |
|
Effect of Transactions on the Accounting Equation |
19 |
|
Expanding the Accounting Equation: Revenues, Expenses, and Withdrawals |
20 |
|
Effect of Revenue, Expense, and Withdrawal Transactions on the Accounting Equation |
22 |
|
Financial Statements |
28 |
|
The Income Statement |
28 |
|
The Statement of Owner's Equity |
30 |
|
The Balance Sheet |
30 |
|
Overview of the Accounting Process |
31 |
|
Key Points |
32 |
|
Key Terms |
33 |
|
Demonstration Problem |
34 |
|
Review Questions |
38 |
|
Managing Your Writing |
38 |
|
Exercises and Problems |
38 |
|
Challenge Problem |
44 |
|
Mastery Problem |
45 |
|
Self-Study Test Questions |
46 |
Chapter 3 |
The Double-Entry Framework |
47 |
|
The T Account |
48 |
|
Balancing A T Account |
48 |
|
Debits And Credits |
49 |
|
Assets |
49 |
|
Liabilities and Owner's Equity |
49 |
|
Normal Balances |
50 |
|
Revenues |
51 |
|
Expenses |
51 |
|
Drawing |
51 |
|
Normal Balances for the Owner's Equity Umbrella |
51 |
|
Transaction Analysis |
52 |
|
Debits and Credits: Asset, Liability, and Owner's Equity Accounts |
52 |
|
Debits and Credits: Including Revenues, Expenses, and Drawing |
55 |
|
Summary of Transactions |
65 |
|
The Trial Balance |
67 |
|
Key Points |
69 |
|
Key Terms |
70 |
|
Demonstration Problem |
70 |
|
Review Questions |
74 |
|
Managing Your Writing |
74 |
|
Exercises and Problems |
74 |
|
Challenge Problem |
82 |
|
Mastery Problem |
83 |
|
Self-Study Test Questions |
85 |
Chapter 4 |
Journalizing and Posting Transactions |
87 |
|
Flow of Data |
88 |
|
The Chart of Accounts |
89 |
|
Source Documents |
90 |
|
The General Journal |
91 |
|
Journalizing |
92 |
|
The General Ledger |
97 |
|
Four-Column Account |
97 |
|
Posting to the General Ledger |
98 |
|
Steps in the Posting Process |
99 |
|
The Trial Balance |
105 |
|
Finding and Correcting Errors in the Trial Balance |
106 |
|
Ruling Method |
107 |
|
Correcting Entry Method |
108 |
|
Key Points |
109 |
|
Key Terms |
110 |
|
Demonstration Problem |
111 |
|
Review Questions |
116 |
|
Managing Your Writing |
116 |
|
Exercises and Problems |
117 |
|
Challenge Problem |
128 |
|
Mastery Problem |
129 |
|
Self-Study Test Questions |
131 |
Chapter 5 |
Adjusting Entries and the Work Sheet |
133 |
|
End-Of-Period Adjustments |
134 |
|
Supplies |
135 |
|
Prepaid Insurance |
137 |
|
Wages Expense |
138 |
|
Depreciation Expense |
139 |
|
Expanded Chart of Accounts |
141 |
|
The Work Sheet |
142 |
|
The Ten-Column Work Sheet |
142 |
|
Preparing the Work Sheet |
142 |
|
Preparing the Work Sheet |
142G |
|
Finding Errors on the Work Sheet |
144 |
|
Journalizing Adjusting Entries |
144 |
|
Posting Adjusting Entries |
144 |
|
Key Points |
146 |
|
Key Terms |
147 |
|
Demonstration Problem |
148 |
|
Review Questions |
151 |
|
Managing Your Writing |
152 |
|
Exercises and Problems |
152 |
|
Challenge Problem |
167 |
|
Mastery Problem |
168 |
|
Self-Study Test Questions |
170 |
Appendix |
Depreciation Methods |
171 |
|
Straight-Line Method |
171 |
|
Sum-Of-The-Years'-Digits |
172 |
|
Double-Declining-Balance Method |
173 |
|
Modified Accelerated Cost Recovery System |
173 |
|
Exercises |
174 |
Chapter 6 |
Financial Statements and the Closing Process |
175 |
|
The Financial Statements |
176 |
|
The Income Statement |
176 |
|
The Statement of Owner's Equity |
176 |
|
The Balance Sheet |
179 |
|
Additional Investments by the Owner |
180 |
|
The Closing Process |
181 |
|
Journalize Closing Entries |
183 |
|
Post the Closing Entries |
185 |
|
Post-Closing Trial Balance |
187 |
|
The Accounting Cycle |
188 |
|
Key Points |
192 |
|
Key Terms |
194 |
|
Demonstration Problem |
194 |
|
Review Questions |
197 |
|
Managing Your Writing |
198 |
|
Exercises and Problems |
198 |
|
Challenge Problem |
207 |
|
Mastery Problem |
208 |
|
Self-Study Test Questions |
210 |
Appendix |
Statement of Cash Flows |
211 |
|
Types of Business Activities |
211 |
|
Preparing the Statement of Cash Flows |
213 |
|
Key Points |
215 |
|
Key Terms |
215 |
|
Review Questions |
215 |
|
Exercises and Problems |
216 |
|
Comprehensive Problem 1: The Accounting Cycle |
217 |
Part 2 |
Accounting for Cash, Payroll and Service Businesses |
|
Chapter 7 |
Accounting for Cash |
221 |
|
Checking Account |
222 |
|
Opening a Checking Account |
222 |
|
Making Deposits |
222 |
|
Writing Checks |
225 |
|
Bank Statement |
227 |
|
Reconciling the Bank Statement |
228 |
|
Deposits |
228 |
|
Cash Payments |
228 |
|
Reasons for Differences Between Bank and Book Balances |
229 |
|
Steps in Preparing the Bank Reconciliation |
229 |
|
Illustration of a Bank Reconciliation |
230 |
|
Journal Entries |
231 |
|
Electronic Funds Transfer |
233 |
|
The Petty Cash Fund |
233 |
|
Establishing a Petty Cash Fund |
233 |
|
Making Payments from a Petty Cash Fund |
234 |
|
Petty Cash Payments Record |
234 |
|
Replenishing the Petty Cash Fund |
235 |
|
The Change Fund and Cash Short and Over |
237 |
|
Establishing and Operating the Change Fund |
237 |
|
Cash Short and Over |
237 |
|
Key Points |
239 |
|
Key Terms |
240 |
|
Demonstration Problem |
241 |
|
Review Questions |
243 |
|
Managing Your Writing |
243 |
|
Ethics Case |
243 |
|
Web Work |
244 |
|
Exercises and Problems |
244 |
|
Challenge Problem |
252 |
|
Mastery Problem |
253 |
|
Self-Study Test Questions |
255 |
Chapter 8 |
Payroll Accounting: Employee Earnings and Deductions |
257 |
|
Employees and Independent Contractors |
258 |
|
Employees Earnings and Deductions |
258 |
|
Salaries and Wages |
259 |
|
Computing Total Earnings |
259 |
|
Deductions from Total Earnings |
261 |
|
Computing Net Pay |
266 |
|
Payroll Records |
267 |
|
Payroll Register |
267 |
|
Payroll Check |
268 |
|
Employee Earnings Record |
270 |
|
Accounting for Employee Earnings and Deductions |
270 |
|
Journalizing Payroll Transactions |
270 |
|
Wages and Salaries Expense |
272 |
|
Employee Income Tax Payable |
273 |
|
Social Security and Medicare Taxes Payable |
273 |
|
Other Deductions |
273 |
|
Payroll Record-Keeping Methods |
274 |
|
Key Points |
275 |
|
Key Terms |
276 |
|
Demonstration Problem |
277 |
|
Review Questions |
280 |
|
Managing Your Writing |
280 |
|
Ethics Case |
281 |
|
Web Work |
281 |
|
Exercises and Problems |
281 |
|
Challenge Problem |
288 |
|
Mastery Problem |
289 |
|
Self-Study Test Questions |
291 |
Chapter 9 |
Payroll Accounting: Employer Taxes and Reports |
293 |
|
Employer Payroll Taxes |
294 |
|
Employer's FICA Taxes |
294 |
|
Self-Employment Tax |
295 |
|
Employer's FUTA Tax |
296 |
|
Employer's SUTA Tax |
296 |
|
Accounting for Employer Payroll Taxes |
297 |
|
Journalizing Employer Payroll Taxes |
297 |
|
Payroll Taxes Expense |
298 |
|
Social Security and Medicare Taxes Payable |
298 |
|
FUTA Tax Payable |
299 |
|
SUTA Tax Payable |
299 |
|
Total Payroll Cost of an Employee |
299 |
|
Reporting and Payment Responsibilities |
300 |
|
Federal Income Tax Withholding and Social Security and Medicare Taxes |
300 |
|
FUTA Taxes |
302 |
|
SUTA Taxes |
305 |
|
Employee Wage and Tax Statement |
305 |
|
Summary of Employee Wages and Taxes |
306 |
|
Summary of Reports and Payments |
306 |
|
Workers' Compensation Insurance |
308 |
|
Key Points |
311 |
|
Key Terms |
312 |
|
Demonstration Problem |
312 |
|
Review Questions |
314 |
|
Managing Your Writing |
315 |
|
Ethics Case |
315 |
|
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Study Guide with Working Papers, Chapters 1-9 and 10-15 (with Combination Journal Module) fo..., Written by the text authors to ensure accuracy and quality consistent with the text, the study guide and the working papers for the text assignments are provided together in one convenient resource. Students can reinforce their learning experience with ch, Study Guide with Working Papers, Chapters 1-9 and 10-15 (with Combination Journal Module) fo... to the inventory that you are selling on WonderClub
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Study Guide with Working Papers, Chapters 1-9 and 10-15 (with Combination Journal Module) fo..., Written by the text authors to ensure accuracy and quality consistent with the text, the study guide and the working papers for the text assignments are provided together in one convenient resource. Students can reinforce their learning experience with ch, Study Guide with Working Papers, Chapters 1-9 and 10-15 (with Combination Journal Module) fo... to your collection on WonderClub
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