Fundamentals of Accounting Course 1 (with Student CD-ROM)

by Gilbertson, Claudia B.; Lehman, Mark W.

• ISBN13: 9780538728089
• ISBN10: 0538728086
• Edition: 8th
• Format: Paperback
• Copyright: 2005-03-08
• Publisher: South-Western Educational Pub

Summary

Accounting class using systems you already know? Now that's easy. FUNDAMENTALS OF ACCOUNTING: COURSE 1 takes the debit/credit card approach to explain analyzing transactions, petty cash, financial statements, and closing entries. And with this accounting textbook, you'll learn how to use programs like Automated Accounting, Peachtree, QuickBooks, and Microsoft Excel as well. Begin with what you know and improve your accounting skills today.

Table of Contents

PART 1 Accounting for a Service Business Organized as a Proprietorship	2	(228)
Starting a Proprietorship: Changes That Affect the Accounting Equation	4	(22)
Accounting in the Real World: Gold's Gym	5	(1)
The Accounting Equation	6	(4)
How Business Activities Change the Accounting Equation	10	(4)
How Transactions Change Owner's Equity in an Accounting Equation	14	(12)
End of Chapter Problems	19	(7)
Analyzing Transactions into Debit and Credit Parts	26	(28)
Accounting in the Real World: American Automobile Association (AAA)	27	(1)
Using T Accounts	28	(4)
Analyzing How Transactions Affect Accounts	32	(6)
Analyzing How Transactions Affect Owner's Equity Accounts	38	(16)
End of Chapter Problems	46	(8)
Journalizing Transactions	54	(34)
Accounting in the Real World: Travelocity	55	(1)
Journals, Source Documents, and Recording Entries in a Journal	56	(7)
Journalizing Buying Insurance, Buying on Account, and Paying on Account	63	(4)
Journalizing Transactions That Affect Owner's Equity and Receiving Cash on Account	67	(6)
Proving and Ruling a Journal	73	(15)
End of Chapter Problems	80	(8)
Posting to a General Ledger	88	(28)
Accounting in the Real World: Amazon.Com	89	(1)
Preparing a Chart of Accounts	90	(6)
Posting Separate Amounts from a Journal to a General Ledger	96	(4)
Posting Column Totals from a Journal to a General Ledger	100	(5)
Completed Accounting Forms and Making Correcting Entries	105	(11)
End of Chapter Problems	111	(5)
Cash Control Systems	116	(34)
Accounting in the Real World: Books-A-Million	117	(1)
Checking Accounts	118	(6)
Bank Reconciliation	124	(5)
Dishonored Checks and Electronic Banking	129	(5)
Petty Cash	134	(16)
End of Chapter Problems	140	(7)
Reinforcement Activity 1 -- Part A An Accounting Cycle for a Proprietorship: Journalizing and Posting Transactions	147	(3)
Work Sheet for a Service Business	150	(28)
Accounting in the Real World: The AICPA	151	(1)
Creating a Work Sheet	152	(5)
Planning Adjusting Entries on a Work Sheet	157	(5)
Extending Financial Statement Information on a Work Sheet	162	(5)
Finding and Correcting Errors on the Work Sheet	167	(11)
End of Chapter Problems	172	(6)
Financial Statements for a Proprietorship	178	(22)
Accounting in the Real World: Tommy Hilfiger	179	(1)
Preparing an Income Statement	180	(7)
Balance Sheet Information on a Work Sheet	187	(13)
End of Chapter Problems	194	(6)
Recording Adjusting and Closing Entries for a Service Business	200	(30)
Accounting in the Real World: The Walt Disney Company	201	(1)
Recording Adjusting Entries	202	(4)
Recording Closing Entries	206	(7)
Preparing a Post-Closing Trial Balance	213	(17)
End of Chapter Problems	221	(7)
Reinforcement Activity 1 --- Part B An Accounting Cycle for a Proprietorship: End-of-Fiscal-Period Work	228	(2)
PART 2 Accounting for a Merchandising Business Organized as a Corporation	230
Journalizing Purchases and Cash Payments	232	(36)
Accounting in the Real World: OfficeMax	233	(1)
Journalizing Purchases Using a Purchases Journal	234	(8)
Journalizing Cash Payments Using a Cash Payments Journal	242	(6)
Performing Additional Cash Payments Journal Operations	248	(6)
Journalizing Other Transactions Using a General Journal	254	(14)
End of Chapter Problems	260	(8)
Journalizing Sales and Cash Receipts Using Special Journals	268	(28)
Accounting in the Real World: Best Buy	269	(1)
Journalizing Sales on Account Using a Sales Journal	270	(6)
Journalizing Cash Receipts Using a Cash Receipts Journal	276	(9)
Recording Transactions Using a General Journal	285	(11)
End of Chapter Problems	289	(7)
Posting to General and Subsidiary Ledgers	296	(42)
Accounting in the Real World: palmOne, Inc.	297	(1)
Posting to an Accounts Payable Ledger	298	(9)
Posting to an Accounts Receivable Ledger	307	(8)
Posting from Journals to a General Ledger	315	(5)
Posting Special Journal Totals to a General Ledger	320	(7)
Correcting Errors in Subsidiary Ledger Accounts	327	(11)
End of Chapter Problems	331	(7)
Preparing Payroll Records	338	(28)
Accounting in the Real World: The Green Bay Packers	339	(1)
Preparing Payroll Time Cards	340	(5)
Determining Payroll Tax Withholding	345	(6)
Preparing Payroll Records	351	(5)
Preparing Payroll Checks	356	(10)
End of Chapter Problems	360	(6)
Payroll Accounting, Taxes, and Reports	366	(36)
Accounting in the Real World: Intel	367	(1)
Recording a Payroll	368	(5)
Recording Employer Payroll Taxes	373	(5)
Reporting Withholding and Payroll Taxes	378	(5)
Paying Withholding and Payroll Taxes	383	(19)
End of Chapter Problems	391	(7)
Reinforcement Activity 2 --- Part A An Accounting Cycle for a Corporation: Journalizing and Posting Transactions	398	(4)
Distributing Dividends and Preparing a Work Sheet for a Merchandising Business	402	(42)
Accounting in the Real World: Lowe's	403	(1)
Distributing Corporate Earnings to Stockholders	404	(5)
Beginning an 8-Column Work Sheet for a Merchandising Business	409	(6)
Planning and Recording a Merchandise Inventory Adjustment	415	(4)
Planning and Recording an Allowance for Uncollectible Accounts Adjustment	419	(4)
Planning and Recording Depreciation Adjustments	423	(4)
Calculating Federal Income Tax and Completing a Work Sheet	427	(17)
End of Chapter Problems	438	(6)
Financial Statements for a Corporation	444	(34)
Accounting in the Real World: Gap, Inc.	445	(1)
Preparing an Income Statement	446	(9)
Analyzing an Income Statement	455	(6)
Preparing a Statement of Stockholders' Equity	461	(3)
Preparing a Balance Sheet	464	(14)
End of Chapter Problems	473	(5)
Recording Adjusting and Closing Entries for a Corporation	478
Accounting in the Real World: Apple	479	(1)
Recording Adjusting Entries	480	(7)
Recording Closing Entries for Income Statement Accounts	487	(7)
Preparing a Post-Closing Trial Balance	494
End of Chapter Problems	500	(8)
Reinforcement Activity 2 --- Part B An Accounting Cycle for a Corporation: End-of-Fiscal Period Work	508
Appendix A: Statement of Cash Flows	1	(1)
Appendix B: Best Buy's Fiscal 2004 Annual Report and Form 10-K	1	(1)
Appendix C: Accounting Concepts	1	(1)
Appendix D: Using a Calculator and Computer Keypad	1	(1)
Appendix E: Recycling Problems	1	(1)
Appendix F: Answers to Audit Your Understanding	1	(1)
Glossary	1	(1)
Index	1