Principles of Financial Accounting

Principles of Financial Accounting

Language: English

Pages: 848

ISBN: 1133939287

Format: PDF / Kindle (mobi) / ePub


Needles/Powers' PRINCIPLES OF FINANCIAL ACCOUNTING is continuously evolving to meet the needs of today's learner. This edition's new structure is based on research about the best way to deliver content to students and to mirror the way instructors have told us they teach! The chapters have been organized into the Three Section Approach, which helps students more easily digest the content. The first section is Concepts and focuses on the overarching accounting concepts that require consistent reiteration throughout the course. With a clear understanding of the concepts, students can proceed to the second section--Accounting Applications. Here students practice the application of accounting procedures with features like "Apply It" and a new transaction analysis model, which breaks down the transaction in a simple, visual format. Finally, students move to section three, Business Applications. This section illustrates how the concepts and procedures are used to make business decisions. Real company examples are used throughout the chapter to show students the relevance of accounting. This logical progression through the material is further supported in the online environment in CengageNOW with TriLevel Problems. These problems mirror the Three Section Approach and connect the sections to facilitate a more complete understanding. These substantial changes will make students more efficient learners and prepare them to face a business world increasingly complicated by ethical issues, globalization, and technology.

 

 

 

 

 

 

 

 

 

 

by the end of next month. Are Odzer’s actions ethical? Why or why not? Did he have other alternatives? Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional

part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove additional content at any time if subsequent rights restrictions require it. © Cengage Learning 2014 Exhibit 11 Large International Certified Public Accounting Firms Generally Accepted Accounting Principles 13 accepted

medical supplies for $400 in cash. 12 Purchased $4,000 of equipment on credit; made a 25 percent down payment. 15 Delivered a calf for a fee of $350 on credit. 18 Made a payment of $500 on the equipment purchased on May 12. 27 Paid a utility bill of $140. 1. Identify the company’s business transactions, and prepare journal entries to record them. 2. Post the transactions to the following T accounts: Cash; Accounts Receivable; Medical Supplies; Prepaid Rent; Equipment; Accounts

Method  849 TriLevel Problem  862 Accounting for Units  851 Chapter Assignments  867 Chapter Review  865 Copyright 2013 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part. Due to electronic rights, some third party content may be suppressed from the eBook and/or eChapter(s). Editorial review has deemed that any suppressed content does not materially affect the overall learning experience. Cengage Learning reserves the right to remove

companies from which there was no reasonable expectation of payment because of the companies’ poor financial condition. b. America Online (AOL) recorded advertising as an asset rather than as an expense. c. Eclipsys recorded software contracts as revenue even though it had not yet rendered the services. d. Xerox Corporation recorded revenue from lease agreements at the time the leases were signed rather than over the lease term. e. KnowledgeWare recorded revenue from sales of software

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