Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please help layout what is needed to know for each chapter. Chapter One Know the basic accounting equation: Assets Liabilities + Stockholders' Equity Be able
Please help layout what is needed to know for each chapter.
Chapter One Know the basic accounting equation: Assets Liabilities + Stockholders' Equity Be able to work the basic accounting equation in a variety of ways Be able to use the expanded accounting equation Chapter Two Be able to define terms like General Ledger, General Journal, Trial Balance and how they fit into the process of accounting Understand which accounts are assets, liabilities, stockholders' equity, revenues and expenses Review debit and cre dit procedures and normal balances for each account Chapter Three Know how to journalize Prepaids Review all types of Adjusting Entries Know what a contra asset means hapter Four Review worksheets and adjustments Be able to develop financial statements from the worksheet Know how to close out the revenue and expense accounts Understand the accounting cycle. Chapter Five Understand the differences between FOB Shipping Point and FOB Destination and ownership of the goods Know how to journalize purchases and purchases/returns under a perpetual inventory system Be able to develop a multiple-step income statement Chapter One Know the basic accounting equation: Assets Liabilities + Stockholders' Equity Be able to work the basic accounting equation in a variety of ways Be able to use the expanded accounting equation Chapter Two Be able to define terms like General Ledger, General Journal, Trial Balance and how they fit into the process of accounting Understand which accounts are assets, liabilities, stockholders' equity, revenues and expenses Review debit and cre dit procedures and normal balances for each account Chapter Three Know how to journalize Prepaids Review all types of Adjusting Entries Know what a contra asset means hapter Four Review worksheets and adjustments Be able to develop financial statements from the worksheet Know how to close out the revenue and expense accounts Understand the accounting cycle. Chapter Five Understand the differences between FOB Shipping Point and FOB Destination and ownership of the goods Know how to journalize purchases and purchases/returns under a perpetual inventory system Be able to develop a multiple-step income statement
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started