August |
Starting a Proprietorship
- What is accounting?
- The accounting equation
- How business activities change the accounting equation
- Reporting financial information on a Balance Sheet
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September |
Changes that Affect Owner’s Equity
- How transactions change owner’s equity in an accounting equation
- Reporting a changed accounting equation on a Balance Sheet
Analyzing Transaction into Debit and Credit Parts
- Using T accounts
- Analyzing how transactions affect accounts
- Analyzing how transactions affect owner’s equity accounts
Journalizing Transactions
- Journals, source documents, and recording entries in a journal
- Journalizing, buying insurance, buying on account, and paying on account
- Journalizing transactions that affect owner’s equity and receiving cash on account
- Proving and ruling a journal
Posting to a General Ledger
- Preparing a Chart of Accounts
- Posting separate amounts from a journal to a general ledger
- Posting column totals from a journal to a general ledger
- Completed accounting forms and making correcting entries
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October |
Cash Control Systems
- Checking accounts
- Bank Reconciliation
- Dishonored checks and electronic banking
- Petty Cash
Work Sheet for a Service Business
- Creating a Work Sheet
- Planning adjusting entries on a Work Sheet
- Extending financial statement information on a Work Sheet
- Finding and correcting errors on the Work Sheet
Financial Statements for a Proprietorship
- Preparing an Income Statement
- Balance Sheet information on a Work Sheet
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November |
Recording Adjusting and Closing Entries for a Service Business
- Recording adjusting entries
- Recording closing entries
- Preparing a Post-Closing Trial Balance
Accounting for a Merchandising Business Organized as a Partnership
Journalizing Purchases and Cash Payments
- Journalizing purchases of merchandise for cash
- Journalizing purchases of merchandise on account and buying supplies
- Journalizing cash payments and other transactions
Journalizing Sales and Cash Receipts
- Journalizing sales and cash receipts from sales
- Proving and ruling an expanded journal
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December |
Posting to General and Subsidiary Ledgers
- Posting to a General Ledger
- Posting to an Accounts Payable Ledger
- Posting to an Accounts Receivable Ledger
- Accuracy of accounting records
Preparing Payroll Records
- Preparing payroll time cards
- Determining payroll tax withholding
- Preparing payroll records
- Preparing payroll checks
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January |
Payroll Accounting, Taxes, and Reports
- Recording a payroll
- Recording employer payroll taxes
- Reporting withholding and payroll taxes
- Paying withholding and payroll taxes
Work Sheet for a Merchandising Business
- Beginning an 8-column Work Sheet for a merchandising business
- Analyzing and recording Work Sheet adjustments
- Completing Work Sheets
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February |
Financial Statements for a Partnership
- Income Statement
- Component percentages
- Distribution of Net Income and Owners’ Equity Statements
- Balance Sheet
Recording Adjusting and Closing Entries for a Partnership
- Recording adjusting entries
- Recording closing entries for Income Statement accounts
- Recording additional closing entries
- Preparing a post-closing trial balance
Begin Automated Accounting Simulation “Fitness Junction” |
March |
Finish Automated Accounting Simulation “Fitness Junction”
Individual Income Taxes
Understanding Taxes
- Payroll taxes and federal income tax withholding
- Wage and tip income
- Interest income
- Dependents
- Filing status
- Exemptions
- Standard deduction
- Tax credit for child and dependent care expenses
- Earned income credit
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April |
Understanding Taxes
- Refund, amount due, and record keeping
- Electronic tax return preparation and transmission
- Self-employment income and the self-employment tax
- Child tax credit and additional child tax credit
- The taxpayer’s responsibilities
- The taxpayer’s rights
- Preparing Form 1040EZ
- Preparing Form 1040A
Accounting for a Merchandising Business Organized as a Corporation
Recording Purchases and Cash Payments Using Special Journals
- Recording purchases on account using a Purchases Journal
- Recording expenses and purchases using a Cash Payments Journal
- Journalizing petty cash and posting using a Cash Payments Journal
Recording transactions using a General Journal |
May |
Recording Sales and Cash Receipts Using Special Journals
- Recording sales on account using a Sales Journal
- Recording cash receipts using a Cash Receipts Journal
- Recording transactions using a General Journal
- Recording international sales
Accounting for Uncollectible Accounts Receivable
- Estimating and recording Uncollectible Accounts Expense
- Writing off and collecting Uncollectible Accounts Receivable
Accounting for Plant Assets and Depreciation
- Buying plant assets and paying property tax
- Calculating Depreciation Expense
- Journalizing Depreciation Expense
- Disposing of plant assets
- Declining-balance method of depreciation
Accounting for Inventory
- Determining the quantity of Merchandise Inventory
- Determining the cost of Merchandise Inventory
- Estimating inventory
Accounting for Uncollectible Accounts Receivable
- Estimating and recording Uncollectible Accounts Expense
- Writing off and collecting Uncollectible Accounts Receivable
Accounting for Plant Assets and Depreciation
- Buying plant assets and paying property tax
- Calculating Depreciation Expense
- Journalizing Depreciation Expense
- Disposing of Plant Assets
- Declining balance method of depreciation
Accounting for Inventory
- Determining the quantity of Merchandise Inventory
- Determining the Cost of Merchandise Inventory
- Estimating inventory
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