Accounting: The Basis for Business Decisions, Volume 1

accepted accounting principles accounting equation accounting information accounting period accounting records accounting system Accounts Payable accounts receivable Accumulated depreciation adjusted trial balance adjusting entries audit auditors balance sheet building cash receipts Chapter cheque closing entries column company's controlling account corporation cost credit balance creditors current assets current liabilities customers debit and credit December 31 depreciation expense employees ending inventory entry to record estimated expense accounts Explain financial statements gross profit illustrated included income statement income tax INSTRUCTIONS PROBLEM interest expense internal control invoice ledger accounts LIFO ment merchandise method Michael McBryan month monthly net income note payable Notes Receivable office equipment operations owner's equity paid payment payroll periodic inventory system perpetual inventory system Prepare journal entries public accounting purchase rent returns Salaries sold special journals subsidiary ledger tion tools and equipment transactions types uncollectible accounts year-end