College Accounting, Chapters 1-26 Complete

by McQuaig, Douglas J.; Bille, Patricia A.

• ISBN13: 9780618381616
• ISBN10: 0618381619
• Edition: 8th
• Format: Hardcover
• Copyright: 2004-01-22
• Publisher: South-Western College Pub

Summary

This market-leading college accounting text helps students understand basic business structures and cycles and gain competence in ledger entry and organization. Known for its accuracy, careful pacing, and repetition of terms, concepts, and procedures, the text provides a comprehensive introduction to the business of accounting. The Eighth Edition retains the popular characteristics of previous editions, while integrating Internet features that support classroom planning and instruction and provide students with real-world business experience. New pedagogical tools, such as web activities and problem-solving exercises, have been added to reflect this integrated approach. New! PowerPoint slides--available on the Instructor and Student web sites, HM ClassPrep CD-ROM, and HMAccounting Student CD-ROM--include forms, tables, and art from the text as well as sample problems and other resources. New! Blackboard Course Cartridges and WebCT CDs provide flexible, efficient, and creative ways to present learning materials and manage distance-learning courses. In addition to course management features, instructors can track student performance electronically and receive assignments via the Internet. New! SMARTHINKING online tutoring provides support for students during typical homework hours. Students may interact live online with an "e-structor" or submit questions and spreadsheets for feedback within 24 hours. New! The "Computer Lab" feature allows students to manage accounting transactions for a sole proprietorship business, which helps them gain real-world accounting experience. New! Houghton Mifflin Windows General Ledger Software has been updated to offer complete coverage of accounting concepts and procedures in a user-friendly computer environment. The GLS allows students to solve selected problems from the text and is available on the new HMAccounting Student CD-ROM.

Table of Contents

The Accounting Cycle for a Service Business: Analyzing Business Transactions

Asset, Liability, Owner's Equity, Revenue, and Expense Accounts

Assets, Liabilities, and Owner's Equity

Revenue and Expense Accounts

T Accounts, Debits and Credits, Trial Balance, and Financial Statements

The T Account Form The T Account Form with Debits and Credits

Recording Business Transactions in T Accounts

The Trial Balance Major Financial Statements

Errors Exposed by the Trial Balance

The General Journal and the General Ledger

The General Journal Posting to the General Ledger Correction of Errors

The Computer Lab Before a Test Check: Chapters 1–3

Adjusting Entries and the Work Sheet Fiscal Period

The Accounting Cycle

The Work Sheet Adjustments Journalizing Adjusting Entries

The Computer Lab

Methods of Depreciation

Closing Entries and the Post-Closing Trial Balance Closing Entries

The Post-Closing Trial Balance Bases of Accounting : Cash, Modified Cash, and Accrual Interim Statements

The Computer Lab Before a Test Check: Chapters 4–5 Accounting Cycle Review Problems A and B

Accounting for Professional Enterprises: The Combined Journal (Optional) Example: Records of a Dentist

The Combined Journal Designing a Combined Journal

Accounting for Cash and Payroll

Bank Accounts and Cash Funds

Using a Checking Account

Writing Checks

Bank Statements

The Petty Cash Fund

The Change Fund Cash Short and Over

Bad Debts

Employee Earnings and Deductions

Objectives of Payroll Records and Accounting Employer/Employee Relationships Laws Affecting Employees' Pay Deductions Laws Affecting Employer's Payroll Tax Contributions (Payroll Tax Expense) How Employees Get Paid Deductions from Total Earnings Payroll Register The Payroll Entry

Employer Taxes, Payments, and Reports Employer Identification Number Employer's Payroll Taxes Journal Entries for Recording Payroll Payments of FICA Tax and Employees' Federal Income Tax Withholding Payments of State Unemployment Insurance Payments of Federal Unemployment Tax Deposits of Employees' State Income Tax Withholding Employer's Quarterly Federal Tax Return (Form 941) Reports and Payments of Federal Unemployment Tax Workers' Compensation Insurance Adjusting for Accrued Salaries and Wages Tax Calendar Before a Test Check: Chapters 7–9

The Accounting Cycle for a Merchandising Business: Using Special Journals

The Sales Journal and the Purchases Journal Special Journals Specific Accounts for Merchandising Firms Recording Sales on Account

The Sales Journal

The Accounts Receivable Ledger Sales Returns and Allowances

Purchasing Procedures Purchases Journal (Three-Column)

The Accounts Payable Ledger Purchases

Returns and Allowances Freight Charges on Incoming Merchandise Transportation Charges on the Buying of Goods and Services Other Than Merchandise Internal Control The Computer Lab

The Cash Receipts Journal and the Cash Payments Journal

The Cash Receipts Journal Credit Terms Sales Returns and Allowances and Sales

Discounts on an Income Statement

The Cash Payments Journal: Service Enterprise

The Cash Payments Journal: Merchandising Enterprise Purchases Returns and Allowances, Purchases Discount, and Freight In on an Income Statement Check Register Trade Discounts Comparison of the Five Types of Journals

The Computer Lab Before a Test Check: Chapters 10–11

Work Sheet and Adjusting Entries Adjustment for Supplies Adjustment for Merchandise Inventory

Using the Periodic Inventory System Adjustment for Unearned Revenue Data for the Adjustments

Completion of the Work Sheet Adjusting Entries Under the Periodic Inventory System

Adjustment for Merchandise Inventory Under the Perpetual Inventory System

Adjusting Entry Under the Perpetual Inventory System

The Computer Lab

Financial Statements, Closing Entries, and Reversing Entries

The Income Statement The Statement of Owner's Equity and the Balance Sheet Balance Sheet Classifications Closing Entries Reversing Entries

The Computer Lab Before a Test Check: Chapters 12–13 Comprehensive Review Problem

Inventory Methods

Financial Statement Analysis

The Statement of Cash Flows

Accounting for Promissory Notes

Notes Payable Promissory

Notes Calculating Interest

Determining Due Dates Transactions Involving

Notes Payable End-of-Fiscal-Period Adjustments

The Computer Lab

Notes Receivable Transactions for Notes

Receivable Dishonored Notes

Receivable Discounting Notes

Receivable End-of-Fiscal-Period Adjustments: Accrued Interest on Notes Receivable

The Computer Lab Before a Test Check: Chapters 14–15

Accounting for Valuation of Receivables, Inventory, and Plant and Equipment

Uncollectible Accounts Two Methods of Accounting for Uncollectible Accounts

The Credit Department Matching Bad Debt Losses with Sales

The Allowance Method of Accounting for Bad Debts

Closing the Bad Debts

Expense Account

Writing Off Accounts as Uncollectible

Collection of Accounts Previously Written Off

Specific Charge-off of Bad Debts

Federal Income Tax Requirement

Ending Merchandise Inventory

The Importance of Inventory Valuation

The Need for and the Taking of Inventories

Methods of Assigning Costs to Ending Inventory

Lower-of-Cost-or-Market Rule Perpetual Inventories

Estimating the Value of Inventories

Plant and Equipment

Initial Costs of Plant and Equipment

Differentiating Costs of Land, Land Improvements, and Buildings

The Nature and Recording of Depreciation

Calculating Depreciation

Depreciation for Periods of Less Than a Year Capital and Revenue Expenditures

Extraordinary-Repairs Expenditures

Disposition of Plant and Equipment

Plant and Equipment Records

Depreciation for Federal Income Tax Before a Test Check: Chapters 16–18

The Voucher System of Accounting

Accounting for Partnerships and Corporations

Partnerships

Characteristics of a Partnership

Advantages of a Partnership

Disadvantages of a Partnership

Partnership Agreements

Accounting Entries for Partnerships

Division of Net Income or Net Loss Financial Statements for a Partnership

Dissolution of a Partnership

Liquidation of a Partnership

Corporate Organization and Capital Stock

Definition of a Corporation

Advantages of the Corporate Form

Disadvantages of the Corporate Form

Formation of a Corporation

Structure of a Corporation

Capital Stock

Issuing Stock Illustration of a Corporate

Balance Sheet

New Accounts and the Fundamental Accounting Equation

Corporate Work Sheets, Taxes, and Dividends

Procedure for Recording and Paying Income Taxes Work Sheet for a Corporation

Reasons for Appropriating Retained Earnings

Declaration and Payment of Dividends Stock

Split Statement of Retained Earnings and Balance Sheet for a Corporation

Guidelines for Account Reports

Corporate Bonds

Classification of Bonds

Why a Corporation Issues Bonds Accounting for the Issuance of Bonds

Bond Sinking Fund Redemption of Bonds

Balance Sheet Before a Test Check: Chapters 19–22 <

Table of Contents provided by Publisher. All Rights Reserved.