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A few words about copyrights, the pricing of course materials and photocopying Organization of course materials Feedback on course materials INDRODUCTION OWNERS' AND CREDITORS' USES OF CASH FLOWS INFORMATION MANAGEMENT USES OF INCOME AND CASH FLOWS INFORMATION GOVERNMENT AND OTHER USERS OF INCOME AND CASH FLOWS INFORMATION THE ENVIRONMENT OF ACCOUNTING

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A few words about copyrights, the pricing of course materials and photocopying Organization of course materials Feedback on course materials INDRODUCTION OWNERS' AND CREDITORS' USES OF CASH FLOWS INFORMATION MANAGEMENT USES OF INCOME AND CASH FLOWS INFORMATION GOVERNMENT AND OTHER USERS OF INCOME AND CASH FLOWS INFORMATION THE ENVIRONMENT OF ACCOUNTING

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The goals and functions of financial management Review of accounting Financial analysis Financial forecasting Operating and financial leverage Working capital and the financing decision Current asset management Sources of short - term financing The time value of money Valuation and rates of return Cost of capital The capital budgeting decision Investment banking: private and public placement Long--term debt and lease financing Common and preferred stock financing Dividend policy and retained earnings Convertibles and warrants External growth through mergers International fianancial management

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The goals and functions of financial management Review of accounting Financial analysis Financial forecasting Operating and financial leverage Working capital and the financing decision Current asset management Sources of short - term financing The time value of money Valuation and rates of return Cost of capital The capital budgeting decision Investment banking: private and public placement Long--term debt and lease financing Common and preferred stock financing Dividend policy and retained earnings Convertibles and warrants External growth through mergers International fianancial management

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Table des matières Introduction PARTIE C'hapitrel Introduction à l'analyse économique Deux exemples de problèmes économiques L La rareté et les emplois alternatifs des ressources Le rôle du marché Économie positive et économie normative Microéconomie et macroéconomie Résumé Exercices Chapitre 2 Les instruments de l'analyse économique 2.1 Les données économiques Nombre indice 2.3 Variables nominales et variables réelles Mesurer la croissance des variables économiques 2.5 Modèles économiques Modèles et données économiques Diagrammes, droites et équations Dernier regard sur le problème < toutes choses égales par ailleurs » 2.9 Les théories et les faits e Résumé Exercices Chapitre 3 La demande, I'offre et le marché 3.1 Le marché 3.2 La demande, 1'offre et l'équilibre 3.3 Les courbes ou fonctions de demande et d'offre Derrière la courbe de demande 3.4 Les déplacements de la courbe de demande 3.6 La signification de la courbe d'offre 3.7 Les déplacements de la courbe d'offre 3.8 Le pape et le prix du poisson 3.9 Marchés libres et contrôles des prix 3.10 Que produire, comment produire et pour qui produire ? Résumé Exercices L'état dans une économie de marché 4.1 Le rôle des gouvernements 4.2 Les tâches de l'Etat Les décisions publiques Exercices Résumé Les fondements de la macroéconomie PARTIE2 Chapitre5 Introduction à la macroéconomie et à la comptabilité nationale 5.1 Les problèmes 5.2 Les faits Le cadre général : une vue d'ensemble 5.4 La comptabilité nationale 5.5 Que mesure réellement le PIB ? Résumé Exercices Chapitre 6 La détermination du revenu national 6.1 Le circuit économique 6.2 Les composantes de la demande globale ou de la demande prévue 6.3 La demande globale 6.4 Le PIB d'équilibre 6.5 Une autre démarche: l'égalité entre l'investissement et l'épargne prévus 6.6 Une baisse de la demande globale 6.7 Le multiplicateur 6.8 Le paradoxe de l'épargne Résumé Exercices Chapitre 7 La demande globale, la politique budgétaire et le commerce extérieur 7.1 L'État dans le circuit économique 1 7.2 L'Éat et la demande globale 7.3 Le budget de l'État 7.4 Le déficit et I'orientation de la politique budgétaire 7.5 Les stabilisateurs automatiques et la politique budgétaire active 7.6 La dette publique et le déficit 7.7 Lecommerce extérieur et la détermination du revenu Résumé Exercices Chapitre 4 L'état dans une économie de marché 4.1 Le rôle des gouvernements 4.2 Les tâches de 1'État 4.3 Les décisions publiques Exercices Résumé PARTIE 2 Les fondements de la macroéconomie Chapitre 5 Introduction à la macroéconomie et à la comptabilité nationale 5.1 Les problèmes 5.2 Les faits J.3 Le cadre général : une vue d'ensemble 3.4 La comptabilité nationale 5.5 Que mesure réellement le PIB ? Résumé Exercices Chapitre 6 La détermination du revenu national Le circuit économique 6.2 Les composantes de la demande globale ou de la demande prévue La demande globale 6.4 Le PIB d'équilibre Une autre démarche : I'égalité entre l'investissement et l'épargne prévus 6.6 Une baisse de la demande globale 6.7 Le multiplicateur 6.8 Le paradoxe de l'épargne Résumé Exercices Chapitre7 La demande globale, la politique budgétaire et le commerce extérieur 7.1 L'État dans le circuit économique 7.2 L'Éat et la demande globale Le budget de I'État 7.4 Le déficit et l'orientation de la politique budgétaire 7.5 Les stabilisateurs automatiques et la politique budgétaire active 7.6 La dette publique et le déficit 77 Le commerce extérieur et la détermination du revenu Résumé Exercices Chaptre8 La monnaie et le système fnancier mnnaie 8.1 Los tumtis de l 8.: Les otèvres et les debuts do la bangue 8.3 La banque nlerne et le systèno financier français 84 Les agrégats de monnuic (la mUSse Ionétaire) 8.5 Les agregats de placement 8.0 La creation de nwaie par les banques 8.7 Les aures sOUNes de la eréation monetaire ct les contreparties de M3 Résume Exerives Chapitre 9 La banque centrale et la politique monétaire 9.1 La Banque de France et l'Eurosystème. Les statuts de la Banque de France 141 9.2 La Banque centrale européenne et la politique monétaire unique 9.3 La demande de monnaie L'équilibre sur les marchés financiers 9.5 Les difticultés du contrôle monétaire Résumé Exercices Chapitre 10 La politique économique dans une économie fermée 10.1 Retour sur la fonction de consommation 10.2 La demande d'investissement 10.3 La monnaie, les taux d'intérêt et la demande globale 10.4 La politique budgétaire et l'éviction 10.5 Le modèle IS-LM : philosophie et construction 10.6 Les politiques économiques 10.7 La gestion de la demande et le dosage de la politique économique Résumé Exercices Chapitre 11 186 L'offre globale, le niveau des prix et la vitesse d'ajustement 11.1 Le niveau des prix et la demande globale 11.2 Le marché du travail et l'offre globale 11.3 Le niveau des prix d'équilibre 114 La politique monétaire et budgétaire 11.5 Le marché du travail et l'évolution des salaires 11.6 Les salaires, les prix et l'offre globale 11.7 Le processus d'ajustement 11.8 Un déplacement de l'offre globale 11.9 Le cycle économique Résumé Exercices TABLE DES MATIÈRES Chapitre 12 Le chômage 12.1 Les faits 12.3 Pourquoi le chômage est-il si élevé ? 12.2 Le ecadre théorique 12.5 L'elimination du chonmage keynésien 12.4 L'ćconomie de l'offre 12.6 La réduction du temps du travail 12.7 Le coût privé et social du chômage Résumé Exercices Chapitre 13 L'inlation 13.1 La monnaie et l'inflation 13.3 L'inflation, la monnaie et les deficits budgétaires 13.2 L'inflation et les taux d'intért 13.4 D'autres causes de l'inflation 13.5 L'inflation. le chòmage et la production 13.6 Les coûts de l'inflation 13.7 Que peut-on faire face à l'inflation ? Résumé Exercices L'analyse macroéconomique d'une économie ouverte Chapitre 14 14.1 Le marche des changes 14.2 La balance des paiements 14.4 La politique budgétaire et monétaire en régime de taux de change fixe 14.5 La dévaluation 14.3 L'équilibre intérieur et extérieur 14.6 La détermination des taux de change flottant 14.7 La politique monétaire et budgétaire dans un régime de taux de change flottant Résumé Exercices Chapitre 15 La croissance économique 15.1 La croissance économique 15.2 Croissance : une vue d'ensemble 15.3 Les connaissances techniques 15.4 La croissance et l'accumulation 15.5 La croissanoe et le progrès technique 15.6 La croissance dans les pays de I'OCDE 15.7 La croissance endogène Résumé Exercices TABLE DES MATIERES Le cycle économique Chapitre l6 16.1 Le n Iend » ct le cycle écononmique I6.2 Les theories du cycle cuonomique 16.3 La théorie du cycle récl I6.4 Un cycle éonomique international ? 16.5 Le ròle des variables financières Resumé Exerices Chapitre 17 Où en est la macroécononmie ? 17.1 Les grands domaines de désaccord 17.2 La nouvelle école classique 17.3 Les monétaristes 17.4 L'école de |'offre 17.5 Les keynésiens 17.6 Une synthèse Résumé Exercices L'économie mondiale RTIE 3 Le commerce international et la politique commerciale Chapitre 18 18.1 La configuration du commerce mondial 18.2 Les avantages comparatifs 18.3 Les échanges intra-sectoriels 18.5 L'analyse économique des droits de douane 18.4 Gagnants et perdants 18.6 Bons et mauvais arguments en faveur des droits de douane 18.7 Le niveau des droits de douane : pas si mal ? 18.8 Les autres mesures de la politique commerciale Résumé Exercices Les système monétaire international et les finances internationales Chapitre 19 19.1 Les différents régimes de taux de change 19.3 Les parités ajustables et l'étalon-dollar 19.2 L'étalon-or 19.5 Taux de change fixe ou taux de change flottant ? 19.4 Les taux de change flottant 19.6 La coordination internationale des politiques économiques 19.7 Le système monétaire européen Résumé TABLE DES MATIÈRES Chapitre 20 L'intégration européenne dans les années 1990 20.1 L'Acte unique européen 20.2 L'Union économique et monétaire 20.3 L'Europe centrale et de l'est Résumé Exercices Chapitre 21 Les problèmes des pays en développement dans l'économie mondiale 21.1 La répartition du revenu mondial et le NOEI 21.2 Le développement économique des pays à revenu faible 21.3 Le développement par le commerce de produits primaires 21.4 Le développement par l'industrialisation 21.5 Le développement par l'emprunt 21.6 Le développement par T'ajustement structurel 21.7 L'aide Résumé Exercices Index

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Framework for Strategic Management Strategic Analysis Strategic Visioning, Goals, Ethics, and Social Responsibility Ethics and Strategy The Enemies Check The Competitive Environment Environmental Scanning Capability-based Strategy Market Dynamics and Sustainable Competitive Advantage Strategy in a Global Environment Financial Planning and Competitive-Cost Entrepreneurship, Mergers and Acquisition Restructuring, and the Service Entrepreneurship and the Small Business Mergers and Acquisitions Corporate Restructuring The Service The Leadership Factor in Strategy and Implementing Strategic Change Information Technology and Future Directions in Strategy The Changing Outlook Excellence in Management The Leading-Edge Strategist Changing Organizational Requirements Winning Organizations Information Technology Expert Systems in Strategic Management

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Suites arithmétiques et géométriques. Sommations Présentation des résultats Eléments caractéristiques. Tendance centrale. C Indices statistiques Ajustement Distributions à deux variables. Corrélation .. Séries chronologiques Analyse combinatoire... Calcul des probabilités Variables aléatoires. Loi de probabilité. Loi binomiale. Loi de Poisson. Loi de Lap Échantillonnage. Statistique applique Tables statistiques Usuelles

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Initiating The Marketing Process Marketing: A Focus on the Consumer Marketing in the Organization: An Overview The Changing Marketing Environment Ethics and Social Responsibility in Marketing Understanding Buyers and Markets Global Markets and Cross-Cultural Analysis Consumer Behavior Organizational Markets and Buyer Behavior Targeting Marketing Opportunities Collecting and Using Marketing Information Market Segmentation, Targeting, and Positioning Relationship Marketing, Information Technology, and Forecasting Satisfying Marketing Opportunities Developing New Products Managing the Product Pricing: Relating Objectives to Revenues and Costs Pricing: Arriving at the Final Price Financial Aspects of Marketing Marketing Channels and Wholesaling Retailing Physical Distribution and Logistics Management Advertising Promotional Process, Sales Promotion, and Publicity Managing the Marketing Process Personal Selling and Sales Management Expanding Marketing Settings The Strategic Marketing Process: The Planning Phase The Strategic Marketing Process: Implementation and Control Phases International Marketing Marketing of Services Planning in Marketing

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Initiating The Marketing Process Marketing: A Focus on the Consumer Marketing in the Organization: An Overview The Changing Marketing Environment Ethics and Social Responsibility in Marketing Understanding Buyers and Markets Global Markets and Cross-Cultural Analysis Consumer Behavior Organizational Markets and Buyer Behavior Targeting Marketing Opportunities Collecting and Using Marketing Information Market Segmentation, Targeting, and Positioning Relationship Marketing, Information Technology, and Forecasting Satisfying Marketing Opportunities Developing New Products Managing the Product Pricing: Relating Objectives to Revenues and Costs Pricing: Arriving at the Final Price Financial Aspects of Marketing Marketing Channels and Wholesaling Retailing Physical Distribution and Logistics Management Advertising Promotional Process, Sales Promotion, and Publicity Managing the Marketing Process Personal Selling and Sales Management Expanding Marketing Settings The Strategic Marketing Process: The Planning Phase The Strategic Marketing Process: Implementation and Control Phases International Marketing Marketing of Services Planning in Marketing

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Initiating The Marketing Process Marketing: A Focus on the Consumer Marketing in the Organization: An Overview The Changing Marketing Environment Ethics and Social Responsibility in Marketing Understanding Buyers and Markets Global Markets and Cross-Cultural Analysis Consumer Behavior Organizational Markets and Buyer Behavior Targeting Marketing Opportunities Collecting and Using Marketing Information Market Segmentation, Targeting, and Positioning Relationship Marketing, Information Technology, and Forecasting Satisfying Marketing Opportunities Developing New Products Managing the Product Pricing: Relating Objectives to Revenues and Costs Pricing: Arriving at the Final Price Financial Aspects of Marketing Marketing Channels and Wholesaling Retailing Physical Distribution and Logistics Management Advertising Promotional Process, Sales Promotion, and Publicity Managing the Marketing Process Personal Selling and Sales Management Expanding Marketing Settings The Strategic Marketing Process: The Planning Phase The Strategic Marketing Process: Implementation and Control Phases International Marketing Marketing of Services Planning in Marketing

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Initiating The Marketing Process Marketing: A Focus on the Consumer Marketing in the Organization: An Overview The Changing Marketing Environment Ethics and Social Responsibility in Marketing Understanding Buyers and Markets Global Markets and Cross-Cultural Analysis Consumer Behavior Organizational Markets and Buyer Behavior Targeting Marketing Opportunities Collecting and Using Marketing Information Market Segmentation, Targeting, and Positioning Relationship Marketing, Information Technology, and Forecasting Satisfying Marketing Opportunities Developing New Products Managing the Product Pricing: Relating Objectives to Revenues and Costs Pricing: Arriving at the Final Price Financial Aspects of Marketing Marketing Channels and Wholesaling Retailing Physical Distribution and Logistics Management Advertising Promotional Process, Sales Promotion, and Publicity Managing the Marketing Process Personal Selling and Sales Management Expanding Marketing Settings The Strategic Marketing Process: The Planning Phase The Strategic Marketing Process: Implementation and Control Phases International Marketing Marketing of Services Planning in Marketing

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International Financial Accounting and Reporting Gray: Introduction Dunne and Rollins: DAL McSweeney and Stecle: Ranks Hovis McDougall Emmanucl: Hi-plex Schaad and Schweikart: Yarmouth Woolens Gray and Wearing: Bergesen Lyon and Russell: Texan Oil Enterprises Gray and Roberts: Cadbury Schweppes Jonssorn: The Swedish Accounting Council Adams and Roberts: International Accounting Standards Committee International Accounting and Financial Statement Analysis Roberts: Introduction Brown and Stickney: Tanaguchi Corporation Hiramatsu: Nippon Corporation Meek and Kimbrell: Hanson Gray and Roberts: Volvo Everingham: Murray & Roberts Krzywda, Bailey, and Schroeder: GESI Gdansk Choi: Modello Powell and Keller: First Southwest Commerce Bancshares Steele: The Sock Shop International Managerial Accounting for Global Business Operations Schweikart: Introduction Haka, Lamberton, and Sollenberger: The Ameripill Company Merchant: Promet Berhad Harris: Global Enterprises Gray and Emmanuel: Whycave International Schweikart and Berry: Opole Electric Holland: EuroMachine Company Gray: Implex Corporation Merchant: Ciba-Geigy International Auditing Schweikart: Introduction Radebaugh: Bell Canadia Enterprises (BCE) Clarke: Delta Pharmaceuticals Donleavy: Sun Yee On Bank Dykxhoorn: Roberts Manufacturing Daniel and Aono: Auditing in Japan and the United States International Taxation Bindon: Introduction Jackson: Orange Computer Company Sinning: Midwest Uniforms Lamb: Expert Brushes OConnor: Topco Group Bindon and Gernon: Alagon Industries Lamb: Hanson and Imperial Chemical Industries Kramer and Kramer: Southwest Manufacturing Moore: Masama Industrie

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15 Payroll (New) 15.1 The Payroll System's Distinctive Qualities, 2 15.2 Time Entry, 7 15.3 Manual Checks and Adjustments, 15 15.4 Payroll Processing, 18 15.5 Data Base Update Processing, 29 15.6 Check Printing and Distribution, 30 15.7 Period End Processing, 35 15.8 File Maintenance and Data Base Structure, 39 15.9 Special Features and Requirements, 51 References, 54 Appendix, 54 * 16 Government Payroll Reporting (New) 16.1 Introduction, 64 16.2 Government Payroll Reporting System Processes, 67 16.3 Filing Government Forms, 71 16.4 Magnetic Media Filing, 94 16.5 Alternative Automation Strategies, 98 16.6 Reporting Timetable, 100 16.7 Government Payroll Reporting Data Model, 100 16.8 A Strategy for Staying Current, 100 References, 106 Glossary

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Introduction ACCOUNTING AND BOOKKEEPING CAREERS IN ACCOUNTING XXVi Advancement in Accounting Careers Moving Up The Career Ladder Public Accounting ACCOUNTING AS A PROFESSION XXvii Private Accounting XXviii Not-for-Profit Accounting xXXViii ACCOUNTING CONCEPTS AND PRINCIPLES ORGANIZATIONS THAT INFLUENCE ACCOUNTING PRACTICE XX COMPUTERS AND ACCOUNTING XxiX 1 The Nature of Accounting 1 ACCOUNTING DEFINED 2 USERS OF ACCOUNTING INFORMATION 2 FORMS OF BUSINESS ORGANIZATION 2 TYPES OF BUSINESS OPERATIONS 3 THE ELEMENTS OF ACCOUNTING 4 Liabilities 5 Owner's Equity 5 THE ACCOUNTING EQUATION 5 BUSINESS TRANSACTIONS AND THE ACCOUNTING EQUATION 6 The Dual Effect of Business Transactions Recording the Effect of Transactions on the Accounting Equation 7 Summary of Transactions 12 FINANCIAL STATEMENTS 13 The Income Statement 14 The Statement of Owner's Equity 14 The Balance Sheet 16 END OF CHAPTER MATERIALS 18 2 Recording Business Transactions 33 THE ACCOUNT 34 The T Account 35 DEBITS AND CREDITS Rules of Debit and Credit 35 RECORDING TRANSACTIONS IN ASSET, LIABILITY, AND OWNER'S EQUITY ACCOUNTS 36 TEMPORARY OWNER'S EQUITY ACCOUNTS 38 Owner's Drawing Account 41 Rules of Debit and Credit as Applied to Revenue and Expense Accounts 39 Recording Transactions in Revenue and Expense Accounts 40 THE TRIAL BALANCE 43 NORMAL BALANCE OF ACCOUNTS 45 SUMMARY OF DEBIT AND CREDIT RULES 46 A Final Note on Debits and Credits 47 3 Starting the Accounting Cycle for a Service Business THE ACCOUNTING CYCLE 62 STEP l: ANALYZE TRANSACTIONS FROM SOURCE DOCUMENTS 62 STEP 2: RECORD TRANSACTIONS IN A JOURNAL 62 Making Journal Entries 63 Compound Journal Entry 67 Advantages of Using a Journal 69 STEP 3: POST FROM THE JOURNAL TO THE LEDGER 69 The Chart of Accounts 70 The Four-Column Ledger Account Form 70 Posting Illustrated 71 STEP 4: PREPARE A TRIAL BALANCE OF THE LEDGER Summary of the First Four Steps in the Accounting Cycle 76 LOCATING AND CORRECTING ERRORS 76 Types of Errors 77 Correcting an Error 77 Summary of Error Correction Procedures 80 END OF CHAPTER MATERIALS 81 Errors That Do Not Cause the Trial Balance To Be Out of Balance 80 4 The Accounting Cycle Continued-Work Sheet, Financial Statements, and Adjusting Entries Insurance Expired STEP 5: DETERMINE NEEDED ADJUSTMENTS 104 Supplies Used 105 The Matching Principle of Accounting 110 STEP 6: PREPARE A WORK SHEET 1ll Steps in Completing the Work Sheet l11 Depreciation of Office Equipment and Office Furniture 106 Unpaid Salaries 109 STEP 7: PREPARE FINANCIAL STATEMENTS FROM A COMPLETED WORK SHEET 113 The Income Statement The Statement of Owner's Equity 116 The Balance Sheet 116 END OF CHAPTER MATERIALS 119 Showing Additional Investments on the Statement of Owner's Equity ll6 STEP 8: JOURNALIZE AND POST ADJUSTING ENTRIES l18 5 Completing the Accounting Cycle for a Service Business Closing Entries and the Post-Closing Trial Balance PURPOSE OF CLOSING ENTRIES 139 STEP 9: JOURNALIZE AND POST CLOSING ENTRIES Purpose of Closing Entries 139 Steps in the Closing Process Journalizing Closing Entries Diagram of the Closing Process Posting Closing Entries 145 FISCAL PERIOD 150 STEP 10: PREPARE A POST-CLOSING TRIAL BALANCE THE BASES OF ACCOUNTING 151 SUMMARY OF THE STEPS IN THE ACCOUNTING CYCLE 150 END OF CHAPTER MATERIALS 152 CASH DEFINED 171 CONTROL OF CASH 171 6 Cash and the Combined Journal 170 Comprehensive Review Problem 1, Fred Hayes Photography Studio THE COMBINED JOURNAL Designing a Combined Journal 172 ACCOUNTING FOR PETTY CASH 179 THE CHANGE FUND 185 Establishing the Petty Cash Fund 179 Recording Business Transactions in a Combined Journal 175 Proving the Combined Journal 176 Posting the Combined Journal 176 Making Payments from the Petty Cash Fund 179 Petty Cash Payments Record 182 Replenishing the Petty Cash Fund 184 Signature Card 188 CASH SHORT AND OVER 186 Making Deposits 188 Endorsements 188 BANK CHECKING ACCOUNTS 187 MAINTAINING A CHECKING ACCOUNT 188 WRITING CHECKS 189 ABA Numbers 191 THE BANK STATEMENT 191 Reconciling the Bank Statement 191 Updating Cash Records 194 END OF CHAPTER MATERIALS 195 7 Accounting for a Merchandising Business - Purchases and Cash Payments 211 MERCHANDISING ACTIVITY 212 Purchasing Procedures 212 Trade Discounts Cash Discounts 215 RECORDING PURCHASES OF MERCHANDISE 216 The Purchases Account 216 Recording Purchases 217 The Purchases Journal 218 Recording Purchases in a Purchases Journal 219 THE ACCOUNTS PAYABLE SUBSIDIARY LEDGER 220 POSTING THE PURCHASES JOURNAL 221 Posting to the Accounts Payable Ledger 221 Posting to the General Ledger 223 MERCHANDISE RETURNS AND ALLOWANCES 224 Purchases Returns and Allowances 225 Recording Purchases Returns and Allowances 226 RECORDING CASH PAYMENTS 227 The Purchases Discounts Account 227 Cash Payments Journal 228 POSTING THE CASH PAYMENTS JOURNAL 229 Posting to the Accounts Payable Ledger 230 Posting Individual Entries in the General Dr. Column to the General Ledger 230 Posting Special Column Totals to the General Ledger 230 PROVING THE ACCOUNTS PAYABLE LEDGER 230 Schedule of Accounts Payable 231 FREIGHT CHARGES ON INCOMING MERCHANDISE 234 PURCHASE INVOICES AS A JOURNAL 235 END OF CHAPTER MATERIALS 236 8 Accounting for a Merchandising Business Sales and Cash Receipts SALES ACTIVITY Terms of Payment Procedures for Credit Sales 258 Procedures for Cash Sales RECORDING SALES OF MERCHANDISE 260 Recording Sales in General Journal Form 261 Recording Sales in a Sales Journal 262 THE ACCOUNTS RECEIVABLE LEDGER 263 POSTING FROM THE SALES JOURNAL Posting to the Accounts Receivable Ledger Posting to the General Ledger 264 SALES DISCOUNTS 267 Recording Sales Discounts 267 SALES RETURNS AND ALLOWANCES Recording Sales Returns and Allowances 266 RECORDING CASH RECEIPTS 268 Cash Receipts Journal 268 Posting the Cash Receipts Journal 269 CREDIT CARD SALES 276 SCHEDULE OF ACCOUNTS RECEIVABLE 272 Bank Credit Card Sales 276 ACCOUNTING FOR SALES TAXES 274 Recording Sales Tax in a Sales Journal 274 Sales Returns Involving a Sales Tax 275 Recording Bank Credit Card Sales 276 Recording Private Company Credit Card Sales 277 END OF CHAPTER MATERIALS 279 Credit Cards Issued by Department Stores and Oil Companies 277 SUMMARY OF JOURNALS AND LEDGERS 278 9 Work Sheet and Adjustments for a Merchandising Business 302 DETERMINING NEEDED ADJUSTMENTS 304 CHART OF ACCOUNTS FOR A MERCHANDISING BUSINESS 303 Adjustment for Merchandise Inventory 304 Adjustment for Store Supplies Used 307 Adjustment for Office Supplies Used 308 Adjustment for Insurance Expired 308 Adjustment for Depreciation Expense Adjustment for Salaries Owed But Unpaid 310 THE END-OFPERIOD WORK SHEET 311 The Trial Balance and Adjustments Columns 311 The Adjusted Trial Balance Columns 311 Financial Statement Columns 313 Completing the Work Sheet 315 END OF CHAPTER MATERIALS 318 10 Financial Statements and Closing Entries for a Merchandising Business PREPARING FINANCIAL STATEMENTS FOR A MERCHANDISING BUSINESS 333 The Classified Income Statement 333 The Completed Income Statement 340 The Statement of Owner's Equity 341 The Classified Balance Sheet 341 Working Capital and the Current Ratio 342 JOURNALIZING ADJUSTING ENTRES 345 CLOSING ENTRIES FOR A MERCHANDISING BUSINESS 347 SUMMARY OF STEPS IN THE CLOSING PROCESS 349 THE POST-CLOSING TRIAL BALANCE 351 REVERSING ENTRIES 351 INTERIM STATEMENTS 356 END OF CHAPTER MATERIALS 356 Comprehensive Review Problem 2, Mills Sporting Goods Store 11 Accounting for Payroll 381 IMPORTANCE OF PAYROLL 382 EMPLOYER/EMPLOYEE RELATIONSHIPS 382 HOW EMPLOYEES ARE PAID 382 Fair Labor Standards Act 383 Piece-Rate Plans CALCULATING GROSS EARNINGS 383