Test Bank for Accounting Principles, Volume 1, 7th Canadian Edition
Product details:
- ISBN-10 : 1119048508
- ISBN-13 : 978-1119048503
- Author: Weygandt
For over 15 years, Weygandt, Accounting Principles has been praised by both instructors and students across the country for its outstanding visual design, its carefully integrated pedagogy, and its excellent writing style and clarity of presentation. Our main focus continues to be ‘Student Success in Accounting’ and the new seventh edition package further enables both instructors and students to achieve successful learning outcomes. With this edition, we have added two new authors, Valerie Warren and Lori Novak. They bring fresh new ideas, updates, and continue to implement challenging accounting concepts through examples that are familiar to the student with a stepped-out pedagogy that breaks down complex topics making the material more manageable. This connection to their everyday lives helps build student motivation, a key driver of student time spent on assignments and ultimately their mastery of the concepts.
Table contents:
- Chapter 1 Accounting in Action
- Accounting Keeps Corus on Air
- Why Is Accounting Important?
- Using Accounting Information
- Objective of Financial Reporting
- Forms of Business Organization
- Proprietorship
- Partnership
- Corporation
- Generally Accepted Accounting Principles
- Ethics in Financial Reporting
- Conceptual Framework
- Accounting Standards
- The Accounting Model
- Financial Statements
- The Expanded Accounting Equation
- Transaction Analysis
- Preparing Financial Statements
- Income Statement
- Statement of Owner’s Equity
- Balance Sheet
- Cash Flow Statement
- Understanding the Information in the Financial Statements
- Chapter 2 The Recording Process
- Slaying the Dragons to Brew Up Sales
- The Account
- Debits and Credits
- Double-Entry Accounting
- Analyzing and Recording Transactions
- The Accounting Cycle and Steps in the Recording Process
- The Journal
- The Ledger
- Posting
- The Recording Process Illustrated
- Summary Illustration of Journalizing and Posting
- The Trial Balance
- Limitations of a Trial Balance
- Locating Errors
- Some Process Explanations
- Chapter 3 Adjusting the Accounts
- Advance Sports Revenue Is Just the Ticket
- Timing Issues
- Accrual Versus Cash Basis Accounting
- Revenue and Expense Recognition
- The Basics of Adjusting Entries
- Adjusting Entries for Prepayments
- Adjusting Entries for Accruals
- The Adjusted Trial Balance and Financial Statements
- Preparing the Adjusted Trial Balance
- Preparing Financial Statements
- Chapter 4 Completion of the Accounting Cycle
- A “Cut Above” in Bookkeeping
- Closing the Books
- Preparing Closing Entries
- Posting Closing Entries
- Preparing a Post-Closing Trial Balance
- Summary of the Accounting Cycle
- Steps in the Accounting Cycle
- Correcting Entries—An Avoidable Step
- Classified Balance Sheet
- Standard Balance Sheet Classifications
- Alternative Balance Sheet Presentation
- Using the Information in the Financial Statements
- Working Capital
- Current Ratio
- Acid-Test Ratio
- Appendix 4A: Work Sheets
- Appendix 4B: Reversing Entries
- Chapter 5 Accounting for Merchandising Operations
- A “Frank” Look at Tracking Inventory
- Merchandising Operations
- Inventory Systems
- Recording Purchases of Merchandise
- Subsidiary Inventory Records
- Freight Costs
- Purchase Returns and Allowances
- Discounts
- Summary of Purchase Transactions
- Recording Sales of Merchandise
- Freight Costs
- Sales Returns and Allowances
- Discounts
- Summary of Sales Transactions
- Sales Taxes
- Completing the Accounting Cycle
- Adjusting Entries
- Closing Entries
- Post-Closing Trial Balance
- Summary of Merchandising Entries in a Perpetual Inventory System
- Merchandising Financial Statements
- Single-Step Income Statement
- Multiple-Step Income Statement
- Classified Balance Sheet
- Using the Information in the Financial Statements
- Gross Profit Margin
- Profit Margin
- Appendix 5A: Periodic Inventory System
- Chapter 6 Inventory Costing
- A Fresh Approach to Costing Inventory
- Determining Inventory Quantities
- Taking a Physical Inventory
- Determining Ownership of Goods
- Inventory Cost Determination Methods
- Specific Identification
- Cost Formulas: FIFO and Weighted Average
- Financial Statement Effects
- Choice of Cost Determination Method
- Inventory Errors
- Presentation and Analysis of Inventory
- Valuing Inventory at the Lower of Cost and Net Realizable Value
- Reporting and Analyzing Inventory
- Presenting Inventory in the Financial Statements
- Appendix 6A: Inventory Cost Formulas in Periodic Systems
- Appendix 6B: Estimating Inventories
- Gross Profit Method
- Retail Inventory Method
- Chapter 7 Internal Control and Cash
- Keeping Track of the Cash
- Cash and Internal Control
- What Is Cash?
- Internal Control
- Control Activities
- Limitations of Internal Control
- Cash Controls
- Internal Control Over Cash Receipts
- Internal Control Over Cash Payments
- Petty Cash Fund
- Establishing the Fund
- Making Payments from the Fund
- Replenishing the Fund
- Bank Accounts
- Use of a Bank Account
- Reconciling the Bank Account
- Reporting Cash
- Chapter 8 Accounting for Receivables
- Last Call for Customer Payments
- Accounts Receivable
- Recognizing Accounts Receivable
- Valuing Accounts Receivable
- Notes Receivable
- Recognizing Notes Receivable
- Disposing of Notes Receivable
- Statement Presentation and Management of Receivables
- Presentation
- Analysis
- Accelerating Cash Receipts from Receivables
- Chapter 9 Long-Lived Assets
- Capitalizing on Education
- Property, Plant, and Equipment
- Determining the Cost of Property, Plant, and Equipment
- Depreciation
- Revising Periodic Depreciation
- Disposal of Property, Plant, and Equipment
- Natural Resources
- Cost
- Depletion
- Disposal
- Intangible Assets and Goodwill
- Accounting for Intangible Assets
- Intangible Assets with Finite Lives
- Intangible Assets with Indefinite Lives
- Goodwill
- Statement Presentation and Analysis
- Presentation
- Analysis
- Chapter 10 Current Liabilities and Payroll
- Butterflies Bring About Better Banknotes
- Determinable (Certain) Current Liabilities
- Accounts Payable
- Unearned Revenues
- Operating Line of Credit and Bank Overdraft
- Short-Term Notes Payable
- Sales Taxes
- Property Taxes
- Current Maturities of Long-Term Debt
- Uncertain Liabilities
- Provisions
- Contingencies
- Payroll
- Employee Payroll Costs
- Employer Payroll Costs
- Recording the Payroll
- Financial Statement Presentation
- Appendix 10A: Payroll Deductions
- Appendix A: Specimen Financial Statements
- Appendix B: Sales Taxes
- Appendix C: Subsidiary Ledgers and Special Journals
- Company Index
- Subject Index
- EULA
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