Century 21 Accounting: Multicolumn Journal, 9th Edition

Front Cover......Page 1
Title Page......Page 2
Copyright......Page 3
CONTENTS......Page 12
PART 1 Accounting for a Service Business Organized as a Proprietorship......Page 19
CHAPTER 1 Starting a Proprietorship: Changes That Affect the Accounting Equation......Page 21
Accounting in the Real World: Gold’s Gym......Page 22
1-1 The Accounting Equation......Page 23
1-2 How Business Activities Change the Accounting Equation......Page 27
1-3 How Transactions Change Owner’s Equity in an Accounting Equation......Page 31
End of Chapter Problems......Page 36
CHAPTER 2 Analyzing Transactions into Debit and Credit Parts......Page 43
Accounting in the Real World: American Automobile Association (AAA)......Page 44
2-1 Using T Accounts......Page 45
2-2 Analyzing How Transactions Affect Accounts......Page 49
2-3 Analyzing How Transactions Affect Owner’s Equity Accounts......Page 55
End of Chapter Problems......Page 63
CHAPTER 3 Journalizing Transactions......Page 71
Accounting in the Real World: Travelocity......Page 72
3-1 Journals, Source Documents, and Recording Entries in a Journal......Page 73
3-2 Journalizing Buying Insurance, Buying on Account, and Paying on Account......Page 80
3-3 Journalizing Transactions That A. ect Owner’s Equity and Receiving Cash on Account......Page 84
3-4 Proving and Ruling a Journal......Page 90
End of Chapter Problems......Page 97
CHAPTER 4 Posting to a General Ledger......Page 105
Accounting in the Real World: AMAZON.COM......Page 106
4-1 Preparing a Chart of Accounts......Page 107
4-2 Posting Separate Amounts from a Journal to a General Ledger......Page 113
4-3 Posting Column Totals from a Journal to a General Ledger......Page 117
4-4 Completed Accounting Forms and Making Correcting Entries......Page 122
End of Chapter Problems......Page 128
CHAPTER 5 Cash Control Systems......Page 133
Accounting in the Real World: Hard Rock Cafe......Page 134
5-1 Checking Accounts......Page 135
5-2 Bank Reconciliation......Page 141
5-3 Dishonored Checks and Electronic Banking......Page 146
5-4 Petty Cash......Page 151
End of Chapter Problems......Page 157
REINFORCEMENT ACTIVITY 1—PART A: An Accounting Cycle for a Proprietorship:Journalizing and Posting Transactions......Page 164
CHAPTER 6 Work Sheet for a Service Business......Page 167
Accounting in the Real World: The AICPA......Page 168
6-1 Creating a Work Sheet......Page 169
6-2 Planning Adjusting Entries on a Work Sheet......Page 174
6-3 Extending Financial Statement Information on a Work Sheet......Page 186
6-4 Finding and Correcting Errors on the Work Sheet......Page 191
End of Chapter Problems......Page 196
CHAPTER 7 Financial Statements for a Proprietorship......Page 202
Accounting in the Real World: American Eagle Outfitters......Page 203
7-1 Preparing an Income Statement......Page 204
7-2 Balance Sheet Information on a Work Sheet......Page 211
End of Chapter Problems......Page 218
CHAPTER 8 Recording Adjusting and Closing Entries for a Service Business......Page 224
Accounting in the Real World: The Walt Disney Company......Page 225
8-1 Recording Adjusting Entries......Page 226
8-2 Recording Closing Entries......Page 230
8-3 Preparing a Post-Closing Trial Balance......Page 237
End of Chapter Problems......Page 245
REINFORCEMENT ACTIVITY 1—PART B: An Accounting Cycle for a Proprietorship:End-of-Fiscal-Period Work......Page 252
PART 2 Accounting for a Merchandising Business Organized as a Corporation......Page 254
CHAPTER 9 Journalizing Purchases and Cash Payments......Page 256
Accounting in the Real World: OfficeMax......Page 257
9-1 Journalizing Purchases Using a Purchases Journal......Page 258
9-2 Journalizing Cash Payments Using a Cash Payments Journal......Page 266
9-3 Performing Additional Cash Payments Journal Operations......Page 272
9-4 Journalizing Other Transactions Using a General Journal......Page 278
End of Chapter Problems......Page 284
CHAPTER 10 Journalizing Sales and Cash Receipts Using Special Journals......Page 292
Accounting in the Real World: Best Buy......Page 293
10-1 Journalizing Sales on Account Using Sales Journal......Page 294
10-2 Journalizing Cash Receipts Using a Cash Receipts Journal......Page 300
10-3 Recording Transactions Using a General Journal......Page 309
End of Chapter Problems......Page 313
CHAPTER 11 Posting to General and Subsidiary Ledgers......Page 320
Accounting in the Real World: palmONE, INC.......Page 321
11-1 Posting to an Accounts Payable Ledger......Page 322
11-2 Posting to an Accounts Receivable Ledger......Page 331
11-3 Posting from Journals to a General Ledger......Page 339
11-4 Posting Special Journal Totals to a General Ledger......Page 344
11-5 Correcting Errors in Subsidiary Ledger Accounts......Page 351
End of Chapter Problems......Page 355
CHAPTER 12 Preparing Payroll Records......Page 362
Accounting in the Real World: The Green Bay Packers......Page 363
12-1 Preparing Payroll Time Cards......Page 364
12-2 Determining Payroll Tax Withholding......Page 369
12-3 Preparing Payroll Records......Page 375
12-4 Preparing Payroll Checks......Page 380
End of Chapter Problems......Page 384
CHAPTER 13 Payroll Accounting, Taxes, and Reports......Page 390
Accounting in the Real World: Intel......Page 391
13-1 Recording a Payroll......Page 392
13-2 Recording Employer Payroll Taxes......Page 397
13-3 Reporting Withholding and Payroll Taxes......Page 402
13-4 Paying Withholding and Payroll Taxes......Page 407
End of Chapter Problems......Page 415
REINFORCEMENT ACTIVITY 2—PART A: An Accounting Cycle for a Corporation:Journalizing and Posting Transactions......Page 422
CHAPTER 14 Distributing Dividends and Preparing a Work Sheet for a Merchandising Business......Page 426
Accounting in the Real World: Lowe’s......Page 427
14-1 Distributing Corporate Earnings to Stockholders......Page 428
14-2 Beginning an 8-Column Work Sheet for a Merchandising Business......Page 433
14-3 Planning and Recording a Merchandise Inventory Adjustment......Page 439
14-4 Planning and Recording an Allowance for Uncollectible Accounts Adjustment......Page 443
14-5 Planning and Recording Depreciation Adjustments......Page 447
14-6 Calculating Federal Income Tax and Completing a Work Sheet......Page 451
End of Chapter Problems......Page 462
CHAPTER 15 Financial Statements for a Corporation......Page 468
Accounting in the Real World: Gap, Inc.......Page 469
15-1 Preparing an Income Statement......Page 470
15-2 Analyzing an Income Statement......Page 479
15-3 Preparing a Statement of Stockholders’ Equity......Page 485
15-4 Preparing a Balance Sheet......Page 488
End of Chapter Problems......Page 497
CHAPTER 16 Recording Adjusting and Closing Entries for a Corporation......Page 502
Accounting in the Real World: Apple......Page 503
16-1 Recording Adjusting Entries......Page 504
16-2 Recording Closing Entries for Income Statement Accounts......Page 511
16-3 Preparing a Post-Closing Trial Balance End of Chapter Problems......Page 518
End of Chapter Problems......Page 524
REINFORCEMENT ACTIVITY 2—PART B: An Accounting Cycle for a Corporation: End-of-Fiscal-Period Work......Page 532
PART 3 Accounting for a Merchandising Business Organized as a Corporation—Adjustments and Valuation......Page 534
CHAPTER 17 Accounting for Uncollectible Accounts Receivable......Page 536
Accounting in the Real World: Performance Food Group......Page 537
17-1 Uncollectible Accounts......Page 538
17-2 Writing Off and Collecting Uncollectible Accounts Receivable......Page 543
End of Chapter Problems......Page 550
CHAPTER 18 Accounting for Plant Assets and Depreciation......Page 556
Accounting in the Real World: Carnival Cruise Lines......Page 557
18-1 Buying Plant Assets and Paying Property Tax......Page 558
18-2 Calculating Depreciation Expense......Page 562
18-3 Journalizing Depreciation Expense......Page 566
18-4 Disposing of Plant Assets......Page 570
18-5 Declining-Balance Method of Depreciation......Page 575
End of Chapter Problems......Page 580
CHAPTER 19 Accounting for Inventory......Page 586
Accounting in the Real World: Fender Guitars......Page 587
19-1 Determining the Quantity of Merchandise Inventory......Page 588
19-2 Determining the Cost of Merchandise Inventory......Page 593
19-3 Estimating Inventory......Page 598
End of Chapter Problems......Page 602
CHAPTER 20 Accounting for Notes and Interest......Page 610
Accounting in the Real World: Bank of America......Page 611
20-1 Promissory Notes......Page 612
20-2 Notes Payable......Page 617
20-3 Notes Receivable......Page 622
End of Chapter Problems......Page 628
REINFORCEMENT ACTIVITY 3—PART A: An Accounting Cycle for a Corporation:Journalizing and Posting Transactions......Page 634
CHAPTER 21 Accounting for Accrued Revenue and Expenses......Page 638
Accounting in the Real World: USA Today......Page 639
21-1 Accrued Revenue......Page 640
21-2 Accrued Expenses......Page 646
End of Chapter Problems......Page 653
CHAPTER 22 End-of-Fiscal-Period Work for a Corporation......Page 658
Accounting in the Real World: Chico’s......Page 659
22-1 Preparing a Work Sheet for a Corporation......Page 660
22-2 Preparing an Income Statement......Page 669
22-3 Preparing a Statement of Stockholders’ Equity and Balance Sheet......Page 673
22-4 Adjusting, Closing, and Reversing Entries for a Corporation......Page 678
End of Chapter Problems......Page 686
REINFORCEMENT ACTIVITY 3—PART B: An Accounting Cycle for a Corporation:End-of-Fiscal-Period Work......Page 692
PART 4 Additional Accounting Procedures......Page 694
CHAPTER 23 Accounting for Partnerships......Page 696
Accounting in the Real World: Cold Stone Creamery®......Page 697
23-1 Forming a Partnership......Page 698
23-2 Distribution of Net Income and Owners’ Equity Statements......Page 704
23-3 Dissolving a Partnership......Page 710
End of Chapter Problems......Page 716
CHAPTER 24 Recording International and Internet Sales......Page 724
Accounting in the Real World: Honeywell......Page 725
24-1 Recording International Sales......Page 726
24-2 Recording Internet Sales......Page 734
End of Chapter Problems......Page 738
APPENDIX A: STATEMENT OF CASH FLOWS......Page 743
APPENDIX B: BEST BUY’S FISCAL 2007 ANNUALREPORT SELECTED PAGES......Page 749
APPENDIX C: USING A CALCULATOR AND COMPUTER KEYPAD......Page 769
APPENDIX D: RECYCLING PROBLEMS......Page 775
APPENDIX E: ANSWERS TO AUDIT YOUR UNDERSTANDING......Page 793
GLOSSARY......Page 801
INDEX......Page 807