College Accounting: A Practical Approach

by Slater, Jeffrey

• ISBN13: 9780139822162
• ISBN10: 013982216X
• Edition: 7th
• Format: Paperback
• Copyright: 1999-05-01
• Publisher: Pearson College Div

Summary

The package was designed to accompany any college accounting book and shows readers how to implement the manual accounting procedures they learn in their main book in a computerized environment using Peachtree Accounting for Windows Release 4.0 software. A brief explanation clearly and concisely explains to students/readers each function of the software.

Table of Contents

Preface	vi
Accounting Concepts and Procedures-An Introduction	1	(20)
Objectives	1	(1)
The Big Picture	2	(1)
The Computerized Accounting System	2	(1)
Peachtree and the User Environment	3	(1)
Exploring Bellweather Cleaning Services	4	(2)
Using the Action Items Tabs	6	(5)
Editing Company Information	11	(2)
Financial Statements	13	(2)
Protecting your Work	15	(3)
Getting Help From Peachtree	18	(2)
Continuing Problem-Classifying Transactions	20	(1)
Debits and Credits-Analyzing and Recording Business Transactions	21	(16)
Objectives	21	(1)
The Big Picture	22	(1)
The Peachtree Chart of Accounts and General Ledger	22	(1)
Examining the Chart of Accounts	22	(3)
Modifying the Chart of Accounts	25	(4)
Using the Data Entry Sheet	29	(1)
General Ledger Reports	29	(5)
Continuing Problem-Using the Data Entry Sheet to Record Transactions	34	(3)
Beginning the Accounting Cycle-Journalizing, Posting and the Trial Balance	37	(19)
Objectives	37	(1)
The Big Picture	38	(1)
The General Journal Entry Window	38	(5)
Changing the Accounting Period	43	(1)
Peachtree's Posting Options	44	(2)
Examining and Printing the General Journal	46	(3)
Correcting Entries	49	(4)
Continuing Problem-Entering Transaction Through the General Journal	53	(3)
The Accounting Cycle Continued-Adjusting Journal Entries, Preparing Worksheets and Financial Reports	56	(10)
Objectives	56	(1)
Big Picture	57	(1)
Adjusting Entries	57	(1)
The Working Trial Balance	57	(1)
Expanding the Chart of Accounts	58	(2)
Adjusting Accounts With the General Journal	60	(1)
Preparing the Adjustments for Entry	61	(1)
Peachtree's Financial Statements	62	(1)
Comparing and Contrasting the Accounting Cycle	62	(2)
Continuing Problem-Analyzing and Preparing Adjusting Entries	64	(2)
The Accounting Cycle Completed-Closing and Post-Closing Trial Balance	66	(7)
Objectives	66	(1)
The Big Picture	66	(1)
Closing the Payroll Year	67	(1)
Closing the Fiscal Year	67	(3)
Preparing for the Next Cycle	70	(1)
Maintaining Accounting Records	71	(1)
Continuing Problem-Closing the Fiscal Year	72	(1)
Banking Procedures and Control of Cash	73	(22)
Objectives	73	(1)
The Big Picture	74	(1)
Recording Cash Sales	74	(3)
Receiving Payments on Account	77	(2)
Recording Manual Checks	79	(3)
Generating Computer Checks	82	(3)
Cash Reconciliation Using a Ledger Report	85	(1)
Computerized Bank Reconciliation Using PAW	86	(2)
Petty Cash With Peachtree Accounting for Windows	88	(3)
Continuing Problem-Working with Cash	91	(4)
Payroll Concepts and Procedures-Employee Taxes	95	(14)
Objectives	95	(1)
The Big Picture	96	(1)
Setting Up Employees	96	(3)
Maintaining Employee Data	99	(1)
Processing Timecard Information	100	(2)
Printing Batch Payroll Checks	102	(1)
Generating Manual Payroll Checks	103	(1)
Payroll Reports	104	(3)
Continuing Problem-Paying our Employees	107	(2)
The Employer's Tax Responsibilities-Principles and Procedures	109	(10)
Objectives	109	(1)
The Big Picture	110	(1)
Peachtree and the Employers Responsibility	110	(1)
The Form 941 Deposit	111	(2)
The Form 940 Deposit	113	(1)
Annual Earning Statements	114	(1)
Closing the Payroll Year	114	(2)
Continuing Problem-Completing the Payroll Year	116	(3)
Special Journals-Sales and Cash Receipts	119	(27)
Objectives	119	(1)
The Big Picture	120	(1)
Establishing Customer Defaults	120	(4)
Customer Accounts	124	(8)
The Merchandising Business	132	(1)
Recording Sales	133	(4)
Sales Returns and Allowances	137	(1)
Entering Cash Receipts on Account	138	(1)
Accounts Receivable Reports	139	(2)
Continuing Problem-Recording Sales/Receipts	141	(5)
Special Journals-Purchases and Cash Payments	146	(31)
Objectives	146	(1)
The Big Picture	147	(1)
Establishing Vendor Defaults	147	(3)
Vendor Accounts	150	(7)
Inventory Module	157	(6)
Recording Inventory Transactions	163	(3)
Purchase Returns and Allowances	166	(1)
Selecting Invoices for Payment	167	(3)
Accounts Payable Reports	170	(2)
Continuing Problem-Recording Purchases/Payments	172	(5)
Maintain Functions Review	177	(9)
Review Objectives	177	(1)
Big Picture	178	(1)
Maintain Customers/Prospects	178	(1)
Maintain Vendors	179	(1)
Maintain Employees/Sales Reps	179	(1)
Maintain Chart of Accounts	179	(1)
Maintain Inventory Items	180	(1)
Maintain Company Information	180	(1)
Maintain Default Information	180	(2)
Chapter Notes	182	(1)
Continuing Problem-Maintaining Customers and Venders	183	(3)
Tasks Functions Review	186	(8)
Objectives	186	(1)
Big Picture	187	(1)
Sales/Invoicing Tasks	187	(1)
Receipts Tasks	188	(1)
Purchases Tasks	188	(1)
Select for Payment Tasks	188	(1)
Payment Tasks	189	(1)
Select for Payroll Entry Tasks	189	(1)
Payroll Entry Tasks	189	(1)
General Journal Entry Tasks	189	(1)
Account Reconciliation Tasks	190	(1)
Action Items Tasks	190	(1)
System Tasks	190	(2)
Continuing Problem-Performing the Daily Tasks	192	(2)
Reports Function Review	194	(5)
Review Objectives	194	(1)
Big Picture	195	(1)
Accounts Receivable Reports	195	(1)
Accounts Payable Reports	196	(1)
Payroll Reports	196	(1)
General Ledger Reports	196	(1)
Financial Statement Reports	196	(2)
Continuing Problem-Acquiring a Routine	198	(1)
Accounting for Bad Debts	199	(12)
Objectives	199	(1)
Big Picture	200	(1)
Aged Schedule of Accounts Receivable	200	(1)
Recording Bad Debts Expense Estimates Under the Allowance Method	201	(1)
Writing Off Uncollectible Accounts Under the Allowance Method	202	(2)
Recovering an Account Written Off Under the Allowance Method	204	(1)
Writing Off Uncollectible Accounts Under the Direct Write-Off Method	205	(1)
Recovering an Account Written Off Under the Direct Write-Off Method	206	(1)
Applying Finance Charges	206	(3)
Continuing Problem-Writing Off An Account	209	(2)
Notes Receivable and Notes Payable	211	(18)
Objectives	211	(1)
Big Picture	212	(1)
Recording a Promissory Note	212	(3)
Note Paid at Maturity	215	(3)
Note Renewed on Maturity	218	(1)
Recording a Dishonored Note	219	(3)
Discounting a Notes Receivable	222	(1)
Discounting a Notes Payable	223	(1)
Recording Accrual of Interest	224	(3)
Continuing Problem-Accepting and Issuing a Promissory Note	227	(2)
Data Entry Sheet	229