College accounting : a practical approach, chapters 1-25

Cover
Title Page
Copyright Page
Contents
Preface
1 Accounting Concepts and Procedures
	Accounting and Business
		Types of Business Organization
		Classifying Business Organizations
		Definition of Accounting
		Difference between Bookkeeping and Accounting
	Learning Unit 1-1: The Accounting Equation
		Assets, Liabilities, and Equities
	Learning Unit 1-2: The Balance Sheet
		Points to Remember in Preparing a Balance Sheet
	Learning Unit 1-3: The Accounting Equation Expanded: Revenue, Expenses, and Withdrawals
		Revenue
		Expenses
		Net Income/Net Loss
		Withdrawals
		Expanded Accounting Equation
	Learning Unit 1-4: Preparing Financial Statements
		The Income Statement
		Points to Remember in Preparing an Income Statement
		The Statement of Owner’s Equity
		The Balance Sheet
		Main Elements of the Income Statement, the Statement of Owner’s Equity, and the Balance Sheet
	Chapter Assignments
		Demonstration Problem
		Blueprint: Financial Statements
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: A Fresh Start
2 Debits and Credits: Analyzing and Recording Business Transactions
	Learning Unit 2-1: The T Account
		Balancing an Account
	Learning Unit 2-2: Recording Business Transactions: Debits and Credits
		T Account Entries for Accounting in the Accounting Equation
		The Transaction Analysis: Five Steps
		Applying the Transaction Analysis to Mia Wong’s Law Practice
	Learning Unit 2-3: The Trial Balance and Preparation of Financial Statements
		The Trial Balance
		Preparing Financial Statements
	Chapter Assignments
		Demonstration Problem Debits and Credits: Analyzing and Recording Business Transactions
		Blueprint: Preparing Financial Statements from a Trial Balance
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: Debits on the Left . . .
3 Beginning the Accounting Cycle
	Learning Unit 3-1: Analyzing and Recording Business Transactions into a Journal: Steps 1 and 2 of the Accounting Cycle
		The General Journal
	Learning Unit 3-2: Posting to the Ledger: Step 3 of the Accounting Cycle
		Posting
	Learning Unit 3-3: Preparing the Trial Balance: Step 4 of the Accounting Cycle
		What to Do If a Trial Balance Doesn’t Balance
		Some Common Mistakes
		Making a Correction Before Posting
		Making a Correction After Posting
		Correcting an Entry Posted to the Wrong Account
		Journalizing Transaction, Posting, and Preparing a Trial Balance
	Chapter Assignments
		Demonstration Problem: Journalizing Transaction, Posting, and Preparing a Trial Balance
		Blueprint of First Four Steps of Accounting Cycle
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	PEACHTREE COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 3
	QUICKBOOKS COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 3
4 The Accounting Cycle Continued
	Learning Unit 4-1: Step 5 of the Accounting Cycle: Preparing a Worksheet
		The Trial Balance Section
		The Adjustments Section
		The Adjusted Trial Balance Section
		The Income Statement Section
		The Balance Sheet Section
	Learning Unit 4-2: Step 6 of the Accounting Cycle: Preparing the Financial Statements from the Worksheet
		Preparing the Income Statement
		Preparing the Statement of Owner’s Equity
		Preparing the Balance Sheet
	Chapter Assignments
		Demonstration Problem: Preparing a Worksheet and Financial Statements
		Blueprint of Steps 5 and 6 of the Accounting Cycle
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: Where the Dough Goes . . .
	PEACHTREE COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 4
	QUICKBOOKS COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 4
5 The Accounting Cycle Completed
	Learning Unit 5-1: Journalizing and Posting Adjusting Entries: Step 7 of the Accounting Cycle
		Recording Journal Entries from the Worksheet
	Learning Unit 5-2: Journalizing and Posting Closing Entries: Step 8 of the Accounting Cycle
		How to Journalize Closing Entries
	Learning Unit 5-3: The Post-Closing Trial Balance: Step 9 of the Accounting Cycle and the Cycle Reviewed
	Chapter Assignments
		Demonstration Problem
		Blueprint of Closing Process from the Worksheet
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: Closing Time
	PEACHTREE COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 5
	QUICKBOOKS COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 5
6 Banking Procedure and Control of Cash
	Learning Unit 6-1: Bank Procedures, Checking Accounts, and Bank Reconciliation
		Opening a Checking Account
		Check Endorsement
		The Checkbook
		Monthly Recordkeeping: The Bank’s Statement of Account and In-Company Records
		The Bank Reconciliation Process
		Trends in Banking
	Learning Unit 6-2: The Establishment of Petty Cash and Change Funds
		Setting Up the Petty Cash Fund
		Making Payments from the Petty Cash Fund
		How to Replenish the Petty Cash Fund
		Setting Up a Change Fund and Insight into Cash Short and Over
	Chapter Assignments
		Blueprint: A Bank Reconciliation
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: Counting Down the Cash
7 Calculating Pay and Payroll Taxes: The Beginning of the Payroll Process
	Learning Unit 7-1: Calculation of Gross Earnings, Employee Withholding Taxes, and Net Pay
		Gross Earnings
		Federal Income Tax Withholding
		State Income Tax Withholding
		Other Income Tax Withholding
		Employee Withholding for Social Security Taxes
		Other Withholdings
		Net Pay
	Learning Unit 7-2: Preparing a Payroll Registerand Employee Earning Record
		The Payroll Register
		The Employee Earnings Record
	Learning Unit 7-3: Employer Payroll Tax Expense
		Employer Payment for Social Security Taxes
		FUTA and SUTA
		Workers’ Compensation Insurance
		Chapter Assignments	#344,0,-5		Blueprint for Recording Transactions in a Payroll Register
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: Payroll Records: A Full-Time Job?
8 Paying, Recording, and Reporting Payroll and Payroll Taxes: The Conclusion of the Payroll Process
	Learning Unit 8-1: Recording Payroll and Payroll Tax Expense and Paying the Payroll
		Recording Payroll
		Recording Payroll Tax Expense
		Paying the Payroll and Recording the Payment
	Learning Unit 8-2: Paying Fit and Fica Taxes and Completing the Employer’s Quarterly Federal Tax Return, Form 941
		Paying FIT and FICA Taxes
		Completing the Employer’s Quarterly Federal Tax Return, Form 941
	Learning Unit 8-3: Preparing Forms W-2 and W-3, Paying FUTA Tax and Completing the Employer’s Annual Unemployment Tax Return, Form 940, and Paying SUTA Tax and Workers’ Compensation Insurance
		Preparing Form W-2: Wage and Tax Statement
		Preparing Form W-3: Transmittal of Income
		Paying FUTA Tax
		Completing the Employer’s Annual Federal Unemployment (FUTA) Tax Return, Form 940
		Paying SUTA Tax
		Paying Workers’ Compensation Insurance
	Chapter Assignments
		Blueprint: Form 941 Tax Deposit Rules
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: Hold the Lettuce, Withhold the Taxes
	PEACHTREE COMPUTER WORKSHOP: Computerized Accounting Application For Chapter 8
	QUICKBOOKS COMPUTER WORKSHOP: Computerized Accounting Application For Chapter 8
9 Sales and Cash Receipts
	Learning Unit 9-1: Chou’s Toy Shop: Seller’s View of a Merchandise Company
		Gross Sales
		Sales Returns and Allowances
		Sales Discount
		Sales Tax Payable
	Learning Unit 9-2: Recording and Posting Sales Transactions on Account * for Art’s Wholesale Clothing Company: Introduction to Subsidiary Ledgers and Credit Memorandum
		Accounts Receivable Subsidiary Ledgers
		The Credit Memorandum
		Journalizing, Recording, and Posting the Credit Memorandum
	Learning Unit 9-3: Recording and Posting Cash Receipt Transactions for Art’s Wholesale: Schedule of Accounts Receivable
		Schedule of Accounts Receivable
	Chapter Assignments
		Blueprint: Transferring Information from the General Journal
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
10 Purchases and Cash Payments
	Learning Unit 10-1: Chou’s Toy Shop: Buyer’s View of a Merchandise Company
		Purchases
		Purchases Returns and Allowances
	Learning Unit 10-2: Recording and Posting Purchases Transactions on Account for Art’s Wholesale Clothing Company: Introduction to Subsidiary Ledgers and Debit Memorandum
		Accounts Payable Subsidiary Ledger
		Debit Memorandum
	Learning Unit 10-3: Recording and Posting Cash Payments Transactions for Art’s Wholesale: Schedule of Accounts Payable
	Learning Unit 10-3 Review At This Point
		Instant Replay Self-Review Quiz 10-3
	Learning Unit 10-4: Introduction to a Merchandise Company Using a Perpetual Inventory System
		Introduction to the Merchandise Cycle
		What Inventory System Walmart Uses
		Recording Merchandise Transactions
	Chapter Assignments
		Blueprint: Periodic Versus Perpetual
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	PEACHTREE COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 10
	QUICKBOOKS COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 10
10A: Appendix: Special Journals With Problem Material
	Classroom Demonstration Problem: Periodic Method
		Journalizing Transactions to Special Journals; Posting to Subsidiary and General Ledger Accounts from Special Journals
		Summary of Solution Tips
	Appendix A: Problems
	Sales and Cash Receipts Journal Using a Perpetual Inventory System for Art’s Wholesale Clothing
11 Preparing a Worksheet for a Merchandise Company
	Learning Unit 11-1: Adjustments for Merchandise Inventory and Unearned Rent
		Adjustments A and B: Merchandise Inventory, $19,000
		Adjustment C: Unearned Rent
	Learning Unit 11-2: Completing the Worksheet
		Adjustment C: Rental Income Earned by Art’s Wholesale, $200
		Adjustment D: Supplies on Hand, $300
		Adjustment E: Insurance Expired, $300
		Adjustment F: Depreciation Expense, $50
		Adjustment G: Salaries Accrued, $600
	Chapter Assignments
		Blueprint: A Worksheet for a Merchandise Company
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	Appendix
		A Worksheet for Art's Wholesale Clothing Co. Using a Perpetual Inventory System
		Problem for Appendix
12 Completion of the Accounting Cycle for a Merchandise Company
	Learning Unit 12-1: Preparing Financial Statements
		The Income Statement
		Operating Expenses
		Statement of Owner’s Equity
		The Balance Sheet
	Learning Unit 12-2: Journalizing and Posting Adjusting and Closing Entries; Preparing the Post-Closing Trial Balance
		Journalizing and Posting Adjusting Entries
		Journalizing and Posting Closing Entries
		The Post-Closing Trial Balance
	Learning Unit 12-3: Reversing Entries (Optional Section)
	Chapter Assignments
		Blueprint: Financial Statements
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	Mini Practice Set
		The Corner Dress Shop
	PEACHTREE COMPUTER WORKSHOP: Computerized Accounting Application For Chapter 12
	QUICKBOOKS COMPUTER WORKSHOP: Computerized Accounting Application For Chapter 12
13 Accounting for Bad Debts
	Learning Unit 13-1: Accrual Accounting and Recording Bad Debts
		Writing Off an Account Deemed Uncollectible
	Learning Unit 13-2: The Allowance Method: Two Approaches to Estimating the Amount of Bad Debts Expense
		The Income Statement Approach
		The Balance Sheet Approach
	Learning Unit 13-3: Writing Off and Recovering Uncollectible Accounts
		Writing Off an Account Using the Allowance for Doubtful Accounts
		The Direct Write-Off Method
	Chapter Assignments
		Blueprint
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
14 Notes Receivable and Notes Payable
	Learning Unit 14-1: Promissory Notes, Interest Calculations, and Determining Maturity Dates
		How to Calculate Interest
		How to Determine Maturity Date
	Learning Unit 14-2: Recording Notes
		Sale of Merchandise on Account
		Note Due and Paid at Maturity
		Note Renewed at Maturity
		Dishonored Note
		Note Given in Exchange for Equipment Purchased
	Learning Unit 14-3: How to Discount Customers’ Notes
		How to Discount an Interest-Bearing Note Receivable
		Procedure When a Discounted Note Is Dishonored
	Learning Unit 14-4: Discounting One’s Own Note: Handling Adjustments for Interest Expense and Interest Income
		Discounting One’s Own Note
		Interest: The Need for Adjustments
		Chapter Assignments	#606,0,-5		Blueprint: Notes Payable and Notes Receivable
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: Signs of the Times
15 Accounting for Merchandise Inventory
	Learning Unit 15-1: Perpetual Inventory System
		Comparison of the Perpetual and Periodic Inventory Systems
	Learning Unit 15-2: Using a Subsidiary Ledger for Inventory; Calculating Cost of Ending Inventory Using a Perpetual System
	Learning Unit 15-3: Methods of Determining the Value of the Ending Inventory When Using the Periodic Inventory System
		Specific Invoice Method
		First-In, First-Out Method (FIFO)
		Last-In, First-Out Method (LIFO)
		Weighted-Average Method
		When Can an Inventory Method Be Changed?
		Items That Should Be Included in the Cost of Inventory
	Learning Unit 15-4: Estimating Ending Inventory
		Retail Method
		Gross Profit Method
	Chapter Assignments
		Blueprint: Methods of Determining the Value of Inventory
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
		Continuing Problem: On the Job—Sanchez Computer Center
	SUBWAY CASE: How not to say "OOPS, we're out of that!"
	PEACHTREE COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 15
	QUICKBOOKS COMPUTER WORKSHOP: Computerized Accounting Application for Chapter 15
16 Accounting for Property, Plant, Equipment, and Intangible Assets
	Learning Unit 16-1: Cost of Property, Plant, and Equipment
		Land and Land Improvements
		Buildings
	Learning Unit 16-2: Depreciation Methods
		Straight-Line Method
		Units-of-Production Method
		Double Declining-Balance Method
		Depreciation for Partial Years
		Depreciation for Tax Purposes: Modified Accelerated Cost Recovery System (MACRS), Including the Tax Act of 1989
		The Tax Act of 1989
	Learning Unit 16-3: Capital and Revenue Expenditures and Disposal of Plant Assets
		Capital Expenditures
		Revenue Expenditures
		Disposal of Plant Assets
	Learning Unit 16-4: Natural Resources and Intangible Assets
		Intangible Assets and the Concept of Impairment
	Chapter Assignments
		Blueprint: Key Accounts
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
17 Partnership
	Learning Unit 17-1: Partnership Characteristics and Formation of Partnerships
		Characteristics of Partnerships
	Learning Unit 17-2: Division of Net Income and Net Loss Among Partners
		Partnership Financial Statement
	Learning Unit 17-3: Recording Admissions and Withdrawals of Partners
		Admission of a New Partner
		Recording Permanent Withdrawal of a Partner
		Recording Permanent Withdrawal When a Partner Takes Assets of Less Value Than Book Equity
		Recording Permanent Withdrawal When a Partner Takes Assets of Greater Value Than Book Equity
	Learning Unit 17-4: The Liquidation of a Partnership
		The Liquidation Process
		The Liquidation Process
		The Liquidation Process
	Chapter Assignments
		Blueprint: Advantages and Disadvantages of a Partnership
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
18 Corporations: Organizations and Stock
	Learning Unit 18-1: Forming a Corporation; Characteristics of the Corporate Structure
		Advantages of the Corporate Form of Organization
		Disadvantages of the Corporate Structure
	Learning Unit 18-2: Stockholders’ Equity: Retained Earnings and Capital Stock
		Capital Stock
		Characteristics of Common Stock
		Characteristics of Preferred Stock
		Dividends on Common and Preferred Stock
		Stock Value (for Capital Stock)
	Learning Unit 18-3: Recording Capital Stock Transactions and Calculating Dividends
		Recording the Sale of Stock That Has Par Value
		Recording Sale of Stock with No-Par Value and Stated Value
		Recording Transactions in Which Stock Is Exchanged for Noncash Assets
		How to Calculate Dividends
	Learning Unit 18-4 Recording Capital Stock Transactions Under a Stock Subscription Plan
		August 1: Received First Installment on Common Stock Subscription
		November 1: Received Final Installment on Common Stock Subscription
		November 1: Issued 1,000 Shares of Fully Paid Common Stock
		Stockholders’ Equity
	Chapter Assignments
		Blueprint: Source-of-Capital Approach
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
	SUBWAY CASE: In Good Company
19 Corporations: Stock Values, Dividends, Treasury Stocks, and Retained Earnings
	Learning Unit 19-1: Understanding Stock Values: Redemption, Market, and Book Value
		Redemption Value
		Market Value
		Book Value per Share
		Calculating Book Value with Only One Class of Stock
		Calculating Book Value with Both Preferred and Common Stock
	Learning Unit 19-2: Dividends
		Cash Dividends
		The Stock Dividend
		Recording a Stock Dividend
	Learning Unit 19-3: Treasury Stock
		Purchase of Treasury Stock
		Sale of Treasury Stock
		Example of Stockholders’ Equity with Treasury Stock
	Learning Unit 19-4: Appropriation of Retained Earnings and the Statement of Retained Earnings
		Preparing the Statement of Retained Earnings
		Accounting Cycle for a Corporation
	Chapter Assignments
		Blueprint: Legal Capital Approach
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
	SUBWAY CASE: Bucking Tradition
20 Corporations and Bonds Payable
	Learning Unit 20-1: Structure and Characteristics of a Bond
		Types of Bonds
		Stocks versus Bonds
		Bonds Sold between Interest Dates
	Learning Unit 20-2: Bonds Issued at a Discount or Premium; Amortization by the Straight-Line Method
		Recording and Amortizing Bonds Issued at a Discount
		Recording and Amortizing Bonds Issued at a Premium
	Learning Unit 20-3: Amortization of Bond Discounts and Premiums by the Interest Method*
		Amortizing the Bond Discount by the Interest Method
		Year-End Adjustment
		Amortizing the Bond Premium by the Interest Method
		Year-End Adjustment
	Learning Unit 20-4: Retirement of Bonds and Bond Sinking Funds
		The Bond Sinking Fund
	Chapter Assignments
		Blueprint: Stocks vs. Bonds
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
21 Statement of Cash Flows
	The Big Picture: Usefulness and Layout
	Learning Unit 21-1: Statement of Cash Flows: Indirect Method
		Cash Flows from Operating Activities: Indirect Method
		Cash Flows from Investing Activities
		Cash Flows from Financing Activities
	Learning Unit 21-2: Statement of Cash Flows: Direct Method
	Chapter Assignments
		Blueprint: Statement of Cash Flows
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
22 Analyzing Financial Statements
	Learning Unit 22-1: Horizontal and Vertical Analysis of Balance Sheets
		Horizontal Analysis of the Balance Sheet
		Vertical Analysis of the Balance Sheet
	Learning Unit 22-2: Horizontal and Vertical Analysis of Income Statements; Trend Analysis
		Horizontal Analysis of the Income Statement
		Vertical Analysis of the Income Statement
		Trend Analysis
	Learning Unit 22-3: Ratio Analysis
		Liquidity Ratios
		Asset Management Ratios
		Debt Management Ratios
		Profitability Ratios
	Chapter Assignments
		Blueprint: Ratios
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
	SUBWAY CASE: “And the Winner is . . .”
23 The Voucher System
	Characteristics of a Voucher System
	Learning Unit 23-1: Handling Transactions in a Voucher System
		The Voucher
		The Voucher Register
		Unpaid Voucher File
		Check Register
		Paid Voucher File
	Learning Unit 23-2: Recording Additional Transactions in A Voucher System
		Situation 1: Purchases Returns and Allowances after Voucher Has Been Recorded
		Situation 2: Partial Payments Planned after Voucher Prepared for Full Amount
		Recording Purchases at Net Amount
	Chapter Assignments
		Blueprint: Steps to Record and Pay a Liability Using the Voucher System
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
24 Departmental Accounting
	Learning Unit 24-1: The Income Statement: Focus on Gross Profit by Department
	Learning Unit 24-2: The Income Statement: Focus on Departmental Net Income
		Departmental Income from Operations
	Learning Unit 24-3: The Income Statement Showing Department Contribution Margin
	Chapter Assignments
		Blueprint: Departmental Accounting
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
25 Manufacturing Accounting
	Learning Unit 25-1: Cost of Goods Manufactured and the Income Statement
		Elements of Manufacturing Cost
		Manufacturing Inventories
		Cost of Goods Sold
	Learning Unit 25-2: The Flow of Manufacturing Costs
		The Accumulation of Manufacturing Costs
		The Flow of Manufacturing Costs
		Demonstration Problem
	Learning Unit 25-3: Worksheet for a Manufacturing Company
		Key Points to Look at on the Worksheet
		Reports Prepared from the Worksheet
	Chapter Assignments
		Blueprint: Manufacturing Elements
		Accounting Coach
		Chapter Summary
		Discussion Questions and Critical Thinking/Ethical Case, Concept Checks, Exercises and Problems
		Financial Report Problem: Reading the Kellogg’s Annual Report
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Credits