Accounting Principles, Peachtree Complete Accounting Workbook, 9th Edition

by Jerry J. Weygandt (University of Wisconsin, Madison); Paul D. Kimmel (University of Wisconsin-Milwaukee); Donald E. Kieso (Northern Illinois University)

• ISBN13: 9780470386675
• ISBN10: 0470386673
• Edition: 9th
• Format: Paperback
• Copyright: 2010-05-01
• Publisher: Wiley

Summary

Weygandt Accounting Principles starts with what students know. In the new Ninth Edition, students clearly see the relevance of accounting in their everyday lives and are therefore motivated to do the work assigned.Weygandt Accounting Principles introduces challenging accounting concepts with examples that are familiar to the student. This connection to their everyday lives helps build student motivation, a key driver of student time spent on assignments and ultimately their mastery of the concept.

Table of Contents

CHAPTER 1A.

Peachtree Installation and Setup.

Explanation of Chapter 1A and Chapter 1B.

Explanation and Walk-Through of the Installation of Peachtree Complete Accounting.

Installing the Student Data Set.

CHAPTER 1B.

Accounting in General.

Basic Accounting.

The Transaction Process.

Launching Peachtree Complete Accounting 2008 Software.

Entering General Journal Transactions.

Before You Continue.

Posting the Transaction.

Editing a General Journal Entry.

Financial Statements.

Generating the Income Statement.

Generating the Retained Earnings Statement.

Generating the Balance Sheet.

Generating the Statement of Cash Flows.

Identifying Your Work.

Labeling Your Disk.

Identifying a Folder.

Identifying Your Work Directly on a Peachtree Report.

Placing Your Name in the Header of the Report.

Adding Your Name to the Name of the Company.

Comprehensive Do It! Problem: Joan Robinson, Attorney at Law.

CHAPTER 2.

The Recording Process.

The Account.

The General Journal.

The General Ledger.

Assets and Liabilities.

Owner's Equity.

Revenues and Expenses.

The Chart of Accounts.

How Account Are Assigned Numbers.

Setting Up a New Account

Account Types.

The Trial Balance and the Working Trial Balance.

Changing Accounting Periods.

Comprehensive Do It! Problem: Campus Laundromat.

CHAPTER 3.

Adjusting the Accounts.

Selecting an Accounting Time Period.

Fiscal and Calendar Years.

Introducing Pioneer Advertising Agency.

Basics of Adjusting Entries.

Supplies.

Prepaid Assets (Insurance and Rent).

Depreciation.

Unearned Revenue.

Accrued Revenues.

Accrued Expenses.

The Affect of Adjusting Entries.

Comprehensive Do It! Problem: Green Thumb Lawn Care Company.

CHAPTER 4.

Completion of the Accounting Cycle.

Using a Worksheet.

The General Ledger Trial Balance.

The Working Trial Balance.

Working with the Excel Working Trial Balance.

Manually Closing the Books.

Auto Closing the Books.

Comprehensive Do It! Problem: Watson Answering Service.

CHAPTER 5.

Accounting for Merchandising Operations.

Merchandising Operations.

Perpetual Vs. Periodic Inventory, LIFO, FIFO, Average Cost.

Accounts Payable Defaults.

Entering Vendor Information.

Inventory Defaults.

Entering Inventory Information.

Accounts Receivable Defaults.

Entering Customer Information.

Buying Merchandise Inventory with a Purchase Order.

Receiving Merchandise Purchased with a Purchase Order.

Entering bills from Vendors.

Purchasing and Receiving Inventory – Accounts Payable.

Purchasing and Receiving Inventory – Cash.

Vendor Credit Memos.

Selling and Delivering Inventory – Accounts Receivable.

Selling and Delivering Inventory – Cash.

Refunding a Sale on Accounts Receivable.

Refunding a Sale on Cash.

Entering Inventory Adjustments.

Multiple-Step Income Statement.

Comprehensive Do It! Problem: Falcetto Company.

CHAPTER 6.

Inventories.

Advantages of Using the Peachtree Inventory System.

Cost Methods.

Average Cost.

Last In, First Out (LIFO) Inventory.

First In, Last Out (FIFO) Inventory.

Inventory Reports.

Comprehensive Do It! 2 Problem: Gerald D. Englehart Company.

CHAPTER 7.

Accounting Information Systems.

Basic Concepts of Accounting Information Systems.

Manual Vs. Computerized Systems.

Subsidiary Ledgers and Peachtree Reports.

The Accounts Receivable Ledger.

The Accounts Payable Ledger.

Special Journals.

Sales/Invoice SCREEN.

The Receipts Journal.

The Purchases/Receive Inventory Journal.

The Cash Payments Journal.

CHAPTER 8.

Fraud, Internal Control, and Cash.

Internal Control.

Peachtree Reports that Aid in the Control of Cash.

Establishing the Petty Cash Fund.

Making Payments from the Petty Cash Fund.

Replenishing the Petty Cash Fund.

Reconciling the Bank Account.

Comprehensive Do It! Problem: Poorten Company.

CHAPTER 9.

Accounting for Receivables.

Types of Receivables.

Accounts Receivable.

Notes Receivable.

Other Receivables.

Recognizing Accounts Receivable.

Write Off of a Customer Bad Debt.

Allowance for Uncollectible Accounts.

Aged Receivables Report.

Recovery of an Uncollectible Account.

Credit Card Sales.

Set Up Peachtree to Accept Credit Card Receipts.

Set Up a Credit Card Vendor for Customer Receipts.

Enter Customer Credit Card Receipts.

Notes Receivable.

Comprehensive Do It! Problem, Falcetto Company.

CHAPTER 10.

Plant Assets, Natural Resources, and Intangible Assets.

Setting Up a Plant Asset Account

Creating the Fixed Asset Account(s)

Making the Entry.

Recurring Transactions for Monthly Depreciation for the Warehouse.

Revising Periodic Depreciation.

Retirement of Fixed Assets.

Comprehensive Do It! 2 Problem: Skyline Limousine Co.

CHAPTER 11.

Current Liabilities and Payroll Accounting.

Current Liabilities.

Journal Entries for Current Liabilities.

Setting Up Sales taxes.

Collecting Sales Taxes.

Unearned Revenues.

Recording a Contingent Liability.

Payroll Overview.

Navigation Aids Payroll.

Employees Defaults.

Setting Up an Employee.

Paying Employees.

Voiding Checks.

Payroll Reports.

Payroll Entries Using the General Journal.

Comprehensive Do It! Problem: Indian Jones Company.

CHAPTER 12.

Accounting for Partnerships.

Partnership Form of Organization.

Setting Up a Partnership in Peachtree.

CHAPTER 13.

Corporations: Organization and Capital Stock Transactions.

The Corporate Form of Organization.

Retained Earnings.

The New Corporation.

Issuing Common Stock for Services or Noncash Assets.

Treasury Stock.

Preferred Stock.

Comprehensive Do It! Problem: Rolman Corporation.

CHAPTER 14.

Corporations: Dividends, Retained Earnings, and Income Reporting.

Dividends.

Violations of Concepts – Must Read!

Peachtree Entries for Cash Dividends.

Peachtree Entries for Stock Dividends.

Comprehensive Do It! Problem: Hayslett Corporation.

CHAPTER 15.

Long-term Liabilities.

Bond Basics.

Bonds at Face Value.

Bonds at a Discount.

Bonds at a Premium.

Long-Term Notes Payable.

Comprehensive Do It! Problem: Synder Software Inc.

CHAPTER 16.

Investments.

Why Corporations Invest.

Accounting for Debt Investments.

CHAPTER 17.

The Statement of Cash Flow.

The Purpose of a Statement of Cash Flows.

CHAPTERS 18 ~ 26.

APPENDIX A.

Using the General Ledger.

Peachtree Vs. the General Ledger package.

General Journal Transactions.

Editing a General Journal Entry.

Financial Statements.

Generating the Income Statement.

Generating the Statement of Owner's Equity/Retained Earnings.

Generating the Balance Sheet.

Generating the Statement of Cash Flows.