,Chapter 1: Accounting in Business
x x x x
Chapter 2: Accounting for Business Transactions
x x x x x
Chapter 3: Adjusting Accounts for Financial Statements
x x x x x x
Chapter 4: Accounting for Merchandising Operations
x x x x x
Chapter 5: Inventories and Cost of Sales
x x x x x x
Chapter 6: Cash, Fraud, and Internal Control
x x x x x x
Chapter 7: Accounting for Receivables
x x x x
Chapter 8: Accounting for Long-Term Assets
x x x x x
Chapter 9: Accounting for Current Liabilities
x x x x x
Chapter 10: Accounting for Long-Term Liabilities
x x x x x
Chapter 11: Corporate Reporting and Analysis
x x x x x
Chapter 12: Reporting Cash Flows
x x x x
Chapter 13: Analysis of Financial Statements
x x x x x
,Chapter 1
Accounting in Business x x
QUICK STUDIES
Quick Study 1-1 (10 minutes)
x x x x
1. f Artificial Intelligence x
2. c Recording
x
3. h Recordkeeping (bookkeeping)
x x
Quick Study 1-2 (10 minutes)
x x x x
a. External user x g. External user
x
b. External user x h. External user
x
c. External user x i. Internal user
x
d. External user x j. External user
x
e. Internal userx k. External user
x
f. External user x l. External user
x
Quick Study 1-3 (10 minutes)
x x x x
1. Opportunity 4. Opportunity
2. Pressure 5. Pressure
3. Rationalization 6. Rationalization
Quick Study 1-4 (5 minutes)
x x x x
, 1. Principle 3. Assumption
2. Assumption 4. Principle
Quick Study 1-5 (10 minutes)
x x x x
Attribute Present x Proprietorship Partnership Corporation LLC
1. Business taxed x no no yes no
2. Limited liability x no no yes yes
3. Legal entity
x no no yes yes
Quick Study 1-6 (10 minutes)
x x x x
1. Revenue recognition principle
x x
2. Measurement (cost) principle x x
3. Business entity assumption
x x
Quick Study 1-7 (5 minutes)
x x x x
Assets = Liabilities + Equity
$700,000 (a) $280,000
x $420,000
$500,000 (b) $250,000
x (b) $250,000
x
Quick Study 1-8 (10 minutes)
x x x x
1.
Assets = Liabilities + Equity
$75,000 (a) $35,000
x $40,000
(b) $95,000
x $25,000 $70,000
$85,000 $20,000 (c) $65,000
x
2.
+x Common
Assets = Liabilities -x Dividends +xRevenues -xExpenses
Stock
$40,000 $16,000 $20,000 $ 0 (a)x$12,000 $x 8,000
$80,000 $32,000 $44,000 (b)x$2,000 $24,000 $18,000