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Unit 4: The Accounting Cycle for a Merchandising Corporation (con't)
Explain the procedures for processing a purchase on account. Describe the accounts used in the purchasing process. Analyze transactions relating to the purchase of merchandise. Record a variety of purchases and cash payment transactions. Post to the accounts payable subsidiary ledger. Identify controls over cash.
Chapter 16: Special Journals: Sales and Cash Receipts
Identify the special journals and explain how they are used in a merchandising business. Record transactions in sales and cash receipts journals. Post from the sales and cash receipts journals to customer accounts in the accounts receivable subsidiary ledger. Post column totals form the sales and cash receipts journals to general ledger accounts. Prepare a schedule of accounts receivable.
Chapter 17: Special Journals: Purchases and Cash Payments
Explain the purpose of the purchases and cash payments journals. Record transactions in the purchases and cash payments journals. Record payroll transactions in the cash payments journal. Post from the purchases and cash payments journals to the general ledger and accounts payable subsidiary ledger. Total, prove, and rule the purchases and cash payments journals. Prepare a schedule of accounts payable. Prove cash.
Chapter 18: Adjustments and the Ten-Column Work Sheet
Describe the parts of a ten-column work sheet. Generate trial balances and end-of-period adjustments. Determine which general ledger accounts to adjust. Calculate the adjustments. Prepare a ten-column work sheet. Journalize the adjustments.
Chapter 19: Financial Statements for a Corporation
Explain how to record ownership of a corporation. Explain the relationship between the worksheet and the financial statements for a merchandising corporation. Explain how a corporation's financial statements differ from a sole proprietorship. Analyze the financial data contained on the statements. Prepare an income statement, statement of retained earnings, and balance sheet. Describe the statement of cash flows for a merchandising corporation.
Chapter 20: Completing the Accounting Cycle For a Merchandising Corporation
Journalize closing entries for a merchandising corporation. Post closing entries to the general ledger accounts. Prepare a post-closing trial balance. Describe the steps in the acounting cycle.
Chapter 21: Accounting for Publicly Held Corporations
Describe the characteristics of the corporate form of business organization. Prepare jornal entries to record the issue of stock to investors. Prepare journal entries to record distribution of earnings to owners. Prepare financial statements for publicly held corporations.
Glencoe Accounting: First-Year Course©2012
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English Language Arts (ELA)
Unit 4: The Accounting Cycle for a Merchandising Corporation
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