Slide 1 Mid-Term review part 2 2014 Slide 2 #1 Classify Sales Discounts a.Assets, debit b.Contra Revenue, credit c.Contra Revenue, debit d.Cost of merchandise, debit Slide…

Slide 1 CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-1 Recording Adjusting Entries Accounting Period Cycle: When a company prepares a work sheet…

Slide 1THE ACCOUNTING CYCLE: Closing Entries 1 Slide 2 Previous Lecture 2 Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income statement Balance Sheet All above…

Slide 15-1 Quiz (chapter 5) will occur on Thursday Oct 9 2 Unit 2: Chapter 5 Slide 2 5-2 3 Freight Terms Exhibit 11 Slide 3 5-3 On a regular basis, the seller pays to the…

Slide 1 Closing Entries and The Post-Closing Trial Balance Chapter 5 Slide 2 Learning Outcomes  List the steps of the accounting cycle  Journalize and post closing…

Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements. Prepare financial statements from…

What is the first step of the accounting cycle? Collect source documents. What must be done before posting to the general ledger? Journalize. Where does the info in the worksheet…

4 Completing the Accounting Cycle Student Version 1-* 4-* 1 Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance…

DISCUSSION QUESTIONS CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE EYE OPENERS 1. The end-of-period spreadsheet (work sheet) illustrates flow of accounting information from the…

4 Completing the Accounting Cycle Student Version 1-* 4-* 1 Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance…