Schaum's Outline of Principles of Accounting I, Fifth EditionConfused by accounting? Problem solved. Schaum's Outline of Principles of Accounting I helps you understand basic accounting concepts and offer extra practice on topics such as debits, credits, the chart of accounts, the ledger, inventory measurement, net realizable value, recovery of bad debts, and methods for computing interest. Coverage also includes fixed assets, depreciation and scrap value, methods of depreciation, payroll, and payroll taxes. |
Contents
1 | |
17 | |
Chapter 3 Analyzing and Classifying Transactions | 46 |
Chapters 13 | 64 |
Chapter 4 Recording Transactions | 73 |
Chapter 5 Adjusting and Closing Procedures | 98 |
Chapters 45 | 119 |
Chapter 6 Summarizing and Reporting Via the Service Business Work Sheet | 125 |
Chapter 11 Capital and Equity | 259 |
Chapters 611 | 270 |
Chapter 12 Receivables and Payables | 277 |
Chapter 13 Cash and Its Control | 296 |
Chapter 14 Payroll | 315 |
Depredation | 331 |
Disposal and Taxation | 350 |
Chapters 1216 | 368 |
Chapter 7 Summarizing and Reporting Via the Merchandising Business Work Sheet | 150 |
Chapter 8 Costing Merchandise Inventory | 187 |
Chapter 9 Alternative Inventory Valuation Methods | 207 |
Chapter 10 Repetitive Transactions | 222 |
Final Examination | 373 |
Index | 383 |
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Common terms and phrases
Account Title Dr Accounts Payable 21 Accounts Receivable Accumulated Depreciation adjusting entry amount available for sale Bagon Beginning inventory book value Cash 11 closing entries controlling account cost Current Assets Current Liabilities Depreciation Expense discount Drawing Ended December 31 ending inventory Equipment EXAMPLE Expense 500 Expense 51 Fees Income FICA Taxes FIFO figure financial statements firm first fixed Fixed Assets gross profit Income Statement Balance Income Summary Insurance Expense January Jim Small LIABILITIES AND OWNER’S LIFO Merchandise Inventory merchandise on account method Miscellaneous Expense month Net Income Notes Payable Notes Receivable Office Supplies Owner’s Equity Paid payment payroll percent Prepaid Insurance Prepaid Rent Prob Purchase Returns Rent Expense Retained Earnings revenue Salaries Expense Salaries Payable scrap value SOLUTION specific Statement Balance Sheet Statement of Owner’s Supplies Expense Tax Expense Total Liabilities transactions Trial Balance Adjustments Uncollectible Accounts units