Chapter 1:
- Define important accounting terms related to starting a service business organized as a proprietorship
- Identify accounting concepts and practices related to starting a service business organized as a proprietorship
- Classify accounts as assets, liabilities, or owner’s equity and demonstrate their relations in the accounting equation
- Analyze how transactions related to starting a service business organized as a proprietorship affect accounts in an accounting equation
- Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation.
Chapter 2:
- Define accounting terms related to changes that affect owner’s equity for a service business organized as a proprietorship.
- Identify accounting concepts and practices related to changes that affect owner’s equity for a service business organized as a proprietorship
- Analyze changes in an accounting equation that affect owner’s equity for a service business organized as a proprietorship
- Prepare a balance sheet for a service business organized as a proprietorship from information in an accounting equation.
Chapter 3
- Define accounting terms related to analyzing transactions into debit and credit parts
- Identify accounting practices related to analyzing transactions into debit and credit parts
- Use T accounts to analyze transactions showing which accounts are debited or credited for each transaction
- Analyze how transactions to set up a business affect accounts
- Analyze how transactions affect owner’s equity accounts
Chapter 4
- Define accounting terms related to journalizing transactions
- Identify accounting concepts and practices related to journalizing transactions
- Record in a five-column journal transactions to set up a business
- Record in a five-column journal transactions to buy insurance for cash and supplies on account
- Record in a five-column journal transactions that affect owner’s equity and receiving cash on account
- Prove and rule a five-column journal and prove cash
Chapter 5
- Define accounting terms related to posting from a journal to a general ledger
- Identify accounting concepts and practices related to posting from a journal to a general ledger
- Prepare a chart of accounts for a service business organized as a proprietorship
- Post separate amounts from a journal to a general ledger
- Post column totals from a journal to a general ledger
- Analyze and journalize correcting entries
Chapter 6
- Define accounting terms related to using a checking account and a petty cash fund
- Identify accounting concepts and practices related to using a checking account
- Prepare business papers related to using a checking account
- Reconcile a bank statement
- Journalize dishonored checks and electronic banking transactions
- Establish and replenish a petty cash funds
Chapter 7
- Define accounting terms related to a work sheet for a service business organized as a proprietorship
- Identify accounting concepts and practices related to a worksheet for a service business organized as a proprietorship
- Prepare a heading and a trial balance on a worksheet
- Plan adjustments for supplies and prepaid insurance
- Complete a worksheet for a service business organized as a proprietorship
- Identify selected procedures for finding and correcting errors in accounting records
Chapter 8
- Define an accounting term related to financial statements for a service business organized as a proprietorship
- Identify accounting concepts and practices related to preparation of financial statements for a service business organized as a proprietorship
- Prepare an income statement for a service business organized as a proprietorship
Chapter 9
- Define accounting terms related to adjusting and closing entries for a service business organized as a proprietorship
- Identify accounting concepts and practices related to adjusting and closing entries for a service business organized as a proprietorship
- Record adjusting entries for a service business organized as a proprietorship
- Record closing entries for a service business organized as a proprietorship
- Prepare a post-closing trial balance for a service business organized as a proprietorship
Chapter 10
- Define accounting terms related to purchases and cash payments for a merchandising business
- Identify accounting concepts and practices related to purchases and cash payments for a merchandising business
- Journalize purchases of merchandise for cash
- Journalize purchases of merchandise on account and buying supplies
- Journalize cash payments and other transactions
Chapter 11
- Define accounting terms related to sales and cash receipts for merchandising business
- Identify accounting concepts and practices related to sales and cash receipts for a merchandising business
- Journalize sales and cash receipts transactions for a merchandising business
- Prove and rule a journal
Chapter 12
- Define accounting terms related to posting to ledgers
- Identify accounting practices related to posting to ledgers
- Post to a general ledger from a journal
- Post to an accounts payable ledger
- Post to an accounts receivable ledger
- Verify the accuracy of accounting records
Chapter 13
- define accounting terms related to payroll records
- Identify accounting practices related to payroll records
- Complete a payroll time card\calculate payroll taxes
- Calculate payroll taxes
- Complete a payroll register and an employee earnings record
- Prepare payroll checks
Chapter 14
- Define accounting terms related to payroll accounting,taxes, and reports
- Identify accounting concepts and practices related to payroll accounting, taxes and reports
- Analyze payroll transactions and record a payroll
- Record employer payroll taxes
- Prepare selected payroll tax reports
- Pay and record withholding and payroll taxes
Chapter 15
- Define accounting terms related to a work sheet for a merchandising business
- Identify accounting concepts and practices related to a work sheet for a merchandising business
- Begin a work sheet for a merchandising business
- Plan adjustments on a worksheet for a merchandising business
- Complete a worksheet for a merchandising business
Chapter 16
- Define accounting terms related to financial statements for a merchandising business organized as a partnership
- Identify accounting concepts and practices related to financial statements for a merchandising business organized as a partnership
- Prepare an income statement for a merchandising business organized as a partnership
- Analyze an income statement for a merchandising business organized as a partnership
- Prepare a distribution of net income statement and an owner’s’ equity statement merchandising business organized as a partnership
- Prepare a balance sheet for merchandising business organized as a partnership
Chapter 17
- Identify accounting concepts and practices related to adjusting and closing entries for a merchandising business organized as a partnership
- Record adjusting entries
- Record closing entries for income statement accounts
- Record closing entries for net income or loss and partners drawing accounts
- Prepare a post-closing trial balance