FINANCIAL ACCOUNTING

TABLE OF CONTENTS

• Using the Quick Notes System

Part I The Accounting Cycle 1

• The Accounting Equation 2
• Recording Transactions 8
• Adjustments, Worksheet, and Statements 16
• Completing the Accounting Cycle 22

Part II Merchandising 28

• Merchandise Accounting 28
• Accounting Systems 34

Part III Accounting for Assets 38

• Accounting for Cash 38
• Accounting for Receivables 44
• Accounting for Inventories 50
• Plant and Equipment 56
• Natural Resources and Intangibles 63

Part IV Financing Assets 65

• Accounting for Current Liabilities 66
• Accounting for Partnerships 72
• Accounting for Corporations - Part I 80
• Accounting for Corporations - Part II 86

Part V The Present and Future Value of Money 92

Part VI Long-Term Liabilities 95

• Installment Notes Payable 96
• Bonds Payable 100

Part VII Accounting Principles 106

Part VIII Analyzing Accounting Information 107

• Cash Flows from Operating Activities 108
• Statement of Cash Flows 112
• Financial Statement Analysis 118
• Investments in Corporate Securities 105

Appendix I Short-Term Investments A1

Appendix II Modified Accelerated Cost Recovery System A2

Appendix III Solutions to Practice Sets and Quick Questions A3

Appendix IV Generic Working Papers A130

Appendix V Understanding Journal Entries A144