Century 21 Accounting

by Gilbertson, Claudia Bienias; Lehman, Mark W.; Passalacqua, Dan; Ross, Kenton E.

• ISBN13: 9780538972291
• ISBN10: 0538972297
• Edition: 8th
• Format: Hardcover
• Copyright: 2005-06-03
• Publisher: Cengage Learning

Summary

Take your accounting proficiency to a new level of excellence with the latest edition of Century 21 Accounting Advanced, 8e, the leading corporate accounting text.

Table of Contents

PART 1 Departmentalized Accounting	2	(138)
Recording Departmental Purchases and Cash Payments	4	(28)
Accounting in the Real World: New Balance	5	(1)
Using Accounting Principles and Records	6	(6)
Journalizing and Posting Purchases and Purchases Returns	12	(6)
Journalizing and Posting Cash Payments	18	(14)
End of Chapter Problems	26	(6)
Recording Departmental Sales and Cash Receipts	32	(26)
Accounting in the Real World: Blockbuster, Inc.	33	(1)
Departmental Sales on Account and Sales Returns and Allowances	34	(10)
Journalizing and Posting Cash Receipts	44	(14)
End of Chapter Problems	52	(6)
Calculating and Recording Departmental Payroll Data	58	(28)
Accounting in the Real World: Cisco Systems, Inc.	59	(1)
Completing Payroll Records for Employee Earnings and Deductions	60	(10)
Recording a Payroll and Payroll Taxes	70	(16)
End of Chapter Problems	78	(8)
Financial Reporting for a Departmentalized Business	86	(54)
Accounting in the Real World: Trek Bicyles	87	(1)
Responsibility Accounting for a Merchandising Business	88	(5)
Interim Departmental Statement of Gross Profit	93	(6)
Preparing a Work Sheet for a Departmentalized Business	99	(12)
Responsibility Statements for a Merchandising Business	111	(7)
End-of-Period Work for a Departmentalized Business	118	(22)
End of Chapter Problems	126	(8)
Processing and Reporting Departmentalized Accounting Data	134	(6)
PART 2 Accounting Adjustments and Valuation	140	(56)
A Voucher System	142	(26)
Accounting in the Real World: Procter & Gamble	143	(1)
Vouchers and Voucher Registers	144	(6)
Voucher Check and Check Registers	150	(5)
Selected Transactions in a Voucher System	155	(13)
End of Chapter Problems	161	(7)
Inventory Planning and Valuation	168	(28)
Accounting in the Real World: Toys ``R'' Us	169	(1)
The Nature of Merchandise Inventory	170	(6)
Inventory Costing	176	(6)
Estimating the Inventory	182	(14)
End of Chapter Problems	188	(8)
PART 3 General Accounting Adjustments	196	(114)
Accounting for Uncollectible Accounts	198	(24)
Accounting in the Real World: J.C. Penney	199	(1)
Direct Write-Off Method of Recording Uncollectible Accounts	200	(4)
Allowance Method of Recording Uncollectible Accounts Expense	204	(7)
Accounts Receivable Turnover Ratio	211	(11)
End of Chapter Problems	215	(7)
Accounting for Plant Assets	222	(36)
Accounting in the Real World: Sysco	223	(1)
Buying Plant Assets	224	(5)
Calculating and Journalizing Depreciation Expense	229	(6)
Disposing of Plant Assets	235	(7)
Other Methods of Depreciation	242	(16)
End of Chapter Problems	251	(7)
Accounting for Notes Payable, Prepaid Expenses, and Accrued Expenses	258	(30)
Accounting in the Real World: The Mall of America	259	(1)
Notes Payable	260	(6)
Prepaid Expenses	266	(6)
Accrued Expenses	272	(16)
End of Chapter Problems	281	(7)
Accounting for Notes Receivable, Unearned Revenue, and Accrued Revenue	288	(22)
Accounting in the Real World: Northwest Airlines	289	(1)
Notes Receivable	290	(7)
Unearned and Accrued Revenue	297	(13)
End of Chapter Problems	305	(5)
PART 4 Corporation Accounting	310	(98)
Organizing a Corporation and Paying Dividends	312	(28)
Accounting in the Real World: General Mills	313	(1)
Starting a Corporation	314	(10)
Stock Subscriptions and the Balance Sheet	324	(4)
Calculating and Journalizing Dividends for a Corporation	328	(12)
End of Chapter Problems	334	(6)
Acquiring Additional Capital for a Corporation	340	(28)
Accounting in the Real World: Famous Dave's	341	(1)
Capital Stock Transactions	342	(8)
Treasury Stock Transactions	350	(5)
Bonds Payable Transactions	355	(13)
End of Chapter Problems	362	(6)
Financial Analysis and Reporting for a Corporation	368	(40)
Accounting in the Real World: Medtronics	369	(1)
Work Sheet for a Corporation	370	(7)
Financial Statements and Analysis	377	(9)
Other End-of-Fiscal-Period Work	386	(22)
End of Chapter Problems	394	(8)
Processing and Reporting Accounting Data for a Corporation	402	(6)
PART 5 Management Accounting	408	(148)
Budgetary Planning and Control	410	(32)
Accounting in the Real World: KPMG	411	(1)
Budget Planning	412	(6)
Budgeted Income Statement	418	(9)
Cash Budgets and Performance Reports	427	(15)
End of Chapter Problems	435	(7)
Management Decisions Using Cost-Volume-Profit Analysis	442	(30)
Accounting in the Real World: RC Cola	443	(1)
Cost Characteristics That Influence Decisions	444	(7)
Determining Breakeven	451	(4)
Decisions That Affect Net Income	455	(17)
End of Chapter Problems	464	(8)
Management Decisions Using Present-Value Analysis	472	(20)
Accounting in the Real World: Verizon	473	(1)
Business Decisions Using Present Values	474	(5)
Present Value and Annuities	479	(13)
End of Chapter Problems	485	(7)
Financial Statement Analysis	492	(36)
Accounting in the Real World: Yum! Brands, Inc.	493	(1)
Trend Analysis and Component Percentages	494	(9)
Calculating Earnings Performance and Efficiency Analysis	503	(9)
Calculating Financial Strength Analysis	512	(16)
End of Chapter Problems	519	(9)
Statement of Cash Flows	528	(28)
Accounting in the Real World: Hospitality Properties Trust	529	(1)
Understanding Cash Flow Analysis	530	(7)
Preparing the Operating Activities Section of a Statement of Cash Flows	537	(6)
Completing the Statement of Cash Flows	543	(13)
End of Chapter Problems	550	(6)
PART 6 Manufacturing Cost Accounting	556	(62)
Cost Accounting for a Manufacturing Business	558	(24)
Accounting in the Real World: Hershey	559	(1)
Elements of Manufacturing Cost	560	(5)
Maintaining Manufacturing Records	565	(17)
End of Chapter Problems	574	(8)
Accounting Transactions and Financial Reporting for a Manufacturing Business	582	(36)
Accounting in the Real World: Toyota	583	(1)
Journalizing Manufacturing Accounting Transactions	584	(11)
Preparing End-of-Fiscal-Period Statements	595	(23)
End of Chapter Problems	603	(6)
Processing and Reporting Cost Accounting Data for a Manufacturing Business	609	(9)
PART 7 Other Accounting Systems	618
Organizational Structure of a Partnership	620	(26)
Accounting in the Real World: PricewaterhouseCoopers, LLP	621	(1)
Forming a Partnership	622	(6)
Admitting Partners to Existing Partnerships	628	(18)
End of Chapter Problems	637	(9)
Financial Reporting for a Partnership	646	(32)
Accounting in the Real World: Hewlett-Packard Company	647	(1)
Distribution and Withdrawal of Partnership Earnings	648	(8)
End-of-Fiscal-Period Work for a Partnership	656	(9)
Liquidation of a Partnership	665	(13)
End of Chapter Problems	671	(7)
Budgeting and Accounting for a Not-for-Profit Organization	678	(32)
Accounting in the Real World: The United States Postal Service	679	(1)
Not-for-Profit Organizations	680	(10)
Journalizing Revenues	690	(5)
Journalizing Expenditures, Encumbrances, and Other Transactions	695	(15)
End of Chapter Problems	703	(7)
Financial Reporting for a Not-for-Profit Organization	710
Accounting in the Real World: San Jose	711	(1)
Preparing a Work Sheet for a Governmental Organization	712	(7)
Preparing Financial Statements for a Governmental Organization	719	(5)
Recording Adjusting and Closing Entries for a Governmental Organization	724
End of Chapter Problems	728
Appendix A: Accounting Concepts	1	(1)
Appendix B: Costco's Financial Statements	1	(1)
Appendix C: Using a Calculator and Computer Keypad	1	(1)
Appendix D: Recycling Problems	1	(1)
Appendix E: Answers to Audit Your Understanding	1	(1)
Glossary	1	(1)
Index	1