,Chapter 1: Accounting in Business
u u u u
Chapter 2: Accounting for Business Transactions
u u u u u
Chapter 3: Adjusting Accounts for Financial Statements
u u u u u u
Chapter 4: Accounting for Merchandising Operations
u u u u u
Chapter 5: Inventories and Cost of Sales
u u u u u u
Chapter 6: Cash, Fraud, and Internal Control
u u u u u u
Chapter 7: Accounting for Receivables
u u u u
Chapter 8: Accounting for Long-Term Assets
u u u u u
Chapter 9: Accounting for Current Liabilities
u u u u u
Chapter 10: Accounting for Long-Term Liabilities
u u u u u
Chapter 11: Corporate Reporting and Analysis
u u u u u
Chapter 12: Reporting Cash Flows
u u u u
Chapter 13: Analysis of Financial Statements
u u u u u
,Chapter 1 u
Accounting in Business u u
QUICK STUDIES
u
QuickuStudyu1-1u(10uminutes)
1. f ArtificialuIntelligence
2. cu Recording
3. hu Recordkeepingu(bookkeeping)
QuickuStudyu1-2u(10uminutes)
a. Externaluuser g. Externaluuser
b. Externaluuser h. Externaluuser
c. Externaluuser i. Internaluuser
d. Externaluuser j. Externaluuser
e. Internaluuser k. Externaluuser
f. Externaluuser l. Externaluuser
QuickuStudyu1-3u(10uminutes)
1. Opportunity 4. Opportunity
2. Pressure 5. Pressure
3. Rationalization 6. Rationalization
QuickuStudyu1-4u(5uminutes)
, 1. Principle 3. Assumption
2. Assumption 4. Principle
QuickuStudyu1-5u(10uminutes)
AttributeuPresent Proprietorship Partnership Corporation LLC
1. Businessutaxed no no yes no
2. Limiteduliability no no yes yes
3. Legaluentity no no yes yes
QuickuStudyu1-6u(10uminutes)
1. Revenueurecognitionuprinciple
2. Measurementu(cost)uprinciple
3. Businessuentityuassumption
QuickuStudyu1-7u(5uminutes)
Assets = Liabilities + Equity
$700,000 (a)u $280,000 $420,000
$500,000 (b)u $250,000 (b)u $250,000
QuickuStudyu1-8u(10uminutes)
1.
Assets = Liabilities + Equity
$75,000 (a)u $35,000 $40,000
(b)u $95,000 $25,000 $70,000
$85,000 $20,000 (c)u $65,000
2.
+u Common
Assets = Liabilities Stock -u Dividends +uRevenues -uExpenses
$40,000 $16,000 $20,000 $ 0 (a)u$12,000 $u 8,000
$80,000 $32,000 $44,000 (b)u$2,000 $24,000 $18,000
u u u u
Chapter 2: Accounting for Business Transactions
u u u u u
Chapter 3: Adjusting Accounts for Financial Statements
u u u u u u
Chapter 4: Accounting for Merchandising Operations
u u u u u
Chapter 5: Inventories and Cost of Sales
u u u u u u
Chapter 6: Cash, Fraud, and Internal Control
u u u u u u
Chapter 7: Accounting for Receivables
u u u u
Chapter 8: Accounting for Long-Term Assets
u u u u u
Chapter 9: Accounting for Current Liabilities
u u u u u
Chapter 10: Accounting for Long-Term Liabilities
u u u u u
Chapter 11: Corporate Reporting and Analysis
u u u u u
Chapter 12: Reporting Cash Flows
u u u u
Chapter 13: Analysis of Financial Statements
u u u u u
,Chapter 1 u
Accounting in Business u u
QUICK STUDIES
u
QuickuStudyu1-1u(10uminutes)
1. f ArtificialuIntelligence
2. cu Recording
3. hu Recordkeepingu(bookkeeping)
QuickuStudyu1-2u(10uminutes)
a. Externaluuser g. Externaluuser
b. Externaluuser h. Externaluuser
c. Externaluuser i. Internaluuser
d. Externaluuser j. Externaluuser
e. Internaluuser k. Externaluuser
f. Externaluuser l. Externaluuser
QuickuStudyu1-3u(10uminutes)
1. Opportunity 4. Opportunity
2. Pressure 5. Pressure
3. Rationalization 6. Rationalization
QuickuStudyu1-4u(5uminutes)
, 1. Principle 3. Assumption
2. Assumption 4. Principle
QuickuStudyu1-5u(10uminutes)
AttributeuPresent Proprietorship Partnership Corporation LLC
1. Businessutaxed no no yes no
2. Limiteduliability no no yes yes
3. Legaluentity no no yes yes
QuickuStudyu1-6u(10uminutes)
1. Revenueurecognitionuprinciple
2. Measurementu(cost)uprinciple
3. Businessuentityuassumption
QuickuStudyu1-7u(5uminutes)
Assets = Liabilities + Equity
$700,000 (a)u $280,000 $420,000
$500,000 (b)u $250,000 (b)u $250,000
QuickuStudyu1-8u(10uminutes)
1.
Assets = Liabilities + Equity
$75,000 (a)u $35,000 $40,000
(b)u $95,000 $25,000 $70,000
$85,000 $20,000 (c)u $65,000
2.
+u Common
Assets = Liabilities Stock -u Dividends +uRevenues -uExpenses
$40,000 $16,000 $20,000 $ 0 (a)u$12,000 $u 8,000
$80,000 $32,000 $44,000 (b)u$2,000 $24,000 $18,000
