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This text presents concepts simply while ensuring the best, most accurate coverage. College Accounting is designed to make accounting understandable to virtually everyone without sacrificing substance and technical correctness. A step-by-step, straightforward approach helps students build practical accounting skills that are needed when entering the world of work. The text presents simple topics first and gradually builds to more advanced topics, so learners are not overwhelmed. The narrative approach covers a simple example of a service business before moving to a merchandising business.
PART ONE: ACCOUNTING FOR A SERVICE BUSINESS 1. Introduction to Accounting 2. Analyzing Transactions: The Accounting Equation 3. The Double-Entry Framework 4. Journalizing and Posting Transactions 5. Adjusting Entries and the Work Sheet 6. Financial Statements and the Closing Process Comprehensive Problem: The Accounting Cycle. PART TWO: ACCOUNTING FOR CASH, PAYROLL AND SERVICE BUSINESSES 7. Accounting for Cash 8. Payroll Accounting: Employee Earnings and Deductions 9. Payroll Accounting: Employer Taxes and Reports 10. Accounting for a Professional Service Business: The Combination Journal PART THREE: ACCOUNTING FOR A MERCHANDISING BUSINESS 11. Accounting for Sales and Cash Receipts 12. Accounting for Purchases and Cash Payments 13. Special Journals 14. The Voucher System 15. Adjustments and the Work Sheet for a Merchandising Business 16. Financial Statements and Year-End Accounting for a Merchandising Business Comprehenisve Problem 2: Accounting Cyle with the Subsidiary Ledgers, Part 1 Comprehensive Problem 2: Accounting Cycle with the Subsidiary Ledgers, Part 2 Answers to Self-Study Test Questions Index