| Formatted contents note |
An Introduction to Accounting<br/> 2 (58)<br/> Chapter Opening<br/> 3 (1)<br/> Role of Accounting in Society<br/> 4 (5)<br/> Using Free Markets to Set Resource Priorities<br/> 4 (1)<br/> Accounting Provides Information<br/> 5 (1)<br/> Types of Accounting Information<br/> 6 (1)<br/> Nonbusiness Resource Allocations<br/> 6 (1)<br/> Careers in Accounting<br/> 7 (1)<br/> Measurement Rules<br/> 8 (1)<br/> Reporting Entities<br/> 9 (1)<br/> Elements of Financial Statements<br/> 10 (1)<br/> Accounting Equation<br/> 11 (1)<br/> Recording Business Events Under the Accounting Equation<br/> 12 (3)<br/> Asset Source Transactions<br/> 12 (1)<br/> Asset Exchange Transactions<br/> 13 (1)<br/> Another Asset Source Transaction<br/> 14 (1)<br/> Asset Use Transactions<br/> 14 (1)<br/> Historical Cost and Reliability Concepts<br/> 15 (1)<br/> Recap: Types of Transactions<br/> 16 (1)<br/> Summary of Transactions<br/> 16 (1)<br/> Preparing Financial Statements<br/> 17 (4)<br/> Income Statement and the Matching Concept<br/> 17 (2)<br/> Statement of Changes in Stockholders' Equity<br/> 19 (1)<br/> Balance Sheet<br/> 19 (1)<br/> Statement of Cash Flows<br/> 20 (1)<br/> The Closing Process<br/> 21 (1)<br/> The Horizontal Financial Statements Model<br/> 21 (1)<br/> The Financial Analyst<br/> 22 (2)<br/> A Look Back<br/> 24 (1)<br/> A Look Forward<br/> 25 (1)<br/> Appendix<br/> 25 (2)<br/> Self-Study Review Problem<br/> 27 (1)<br/> Key Terms<br/> 28 (1)<br/> Questions<br/> 28 (1)<br/> Multiple-Choice Questions<br/> 29 (1)<br/> Exercises--Series A<br/> 29 (8)<br/> Problems--Series A<br/> 37 (4)<br/> Exercises--Series B<br/> 41 (7)<br/> Problems--Series B<br/> 48 (5)<br/> Analyze, Think, Communicate<br/> 53 (7)<br/> Accounting for Accruals<br/> 60 (60)<br/> Chapter Opening<br/> 61 (1)<br/> Accrual Accounting<br/> 62 (8)<br/> Transaction Data in Ledger Accounts<br/> 64 (1)<br/> 2008 Financial Statements<br/> 65 (2)<br/> The Closing Process<br/> 67 (1)<br/> Matching Concept<br/> 67 (3)<br/> Second Accounting Cycle<br/> 70 (4)<br/> Adjusting the Accounts<br/> 71 (1)<br/> Summary of 2009 Transactions<br/> 72 (1)<br/> 2009 Financial Statements<br/> 72 (2)<br/> Closing the Temporary (Nominal) Accounts<br/> 74 (1)<br/> Steps in an Accounting Cycle<br/> 74 (1)<br/> Accounting for Notes Payable<br/> 74 (4)<br/> Vertical Statements Model<br/> 76 (2)<br/> The Financial Analyst<br/> 78 (4)<br/> A Look Back<br/> 82 (1)<br/> A Look Forward<br/> 83 (1)<br/> Appendix<br/> 83 (3)<br/> Self-Study Review Problem<br/> 86 (2)<br/> Key Terms<br/> 88 (1)<br/> Questions<br/> 88 (1)<br/> Multiple-Choice Questions<br/> 89 (1)<br/> Exercises--Series A<br/> 89 (8)<br/> Problems--Series A<br/> 97 (6)<br/> Exercises--Series B<br/> 103 (7)<br/> Problems--Series B<br/> 110 (6)<br/> Analyze, Think, Communicate<br/> 116 (4)<br/> Accounting for Deferrals<br/> 120 (50)<br/> Chapter Opening<br/> 121 (1)<br/> Accounting for Deferrals Illustrated<br/> 122 (5)<br/> Summary of Events and Ledger Accounts<br/> 124 (1)<br/> The 2007 Financial Statements<br/> 125 (1)<br/> The Matching Concept<br/> 125 (2)<br/> Second Accounting Cycle<br/> 127 (5)<br/> Effect of 2008 Transactions on the Accounting Equation and the Financial Statements<br/> 130 (2)<br/> Third Accounting Cycle<br/> 132 (4)<br/> Effect of 2009 Transactions on the Accounting Equation and the Financial Statements<br/> 134 (2)<br/> The Financial Analyst<br/> 136 (4)<br/> A Look Back<br/> 140 (1)<br/> A Look Forward<br/> 141 (1)<br/> Self-Study Review Problem<br/> 141 (2)<br/> Key Terms<br/> 143 (1)<br/> Questions<br/> 143 (1)<br/> Multiple-Choice Questions<br/> 143 (1)<br/> Exercises--Series A<br/> 144 (5)<br/> Problems--Series A<br/> 149 (5)<br/> Exercises--Series B<br/> 154 (5)<br/> Problems--Series B<br/> 159 (5)<br/> Analyze, Think, Communicate<br/> 164 (6)<br/> The Double-Entry Accounting System<br/> 170 (68)<br/> Chapter Opening<br/> 171 (1)<br/> Debit/Credit Terminology<br/> 172 (1)<br/> Collins Consultants Case<br/> 172 (11)<br/> Asset Source Transactions<br/> 172 (4)<br/> Asset Exchange Transactions<br/> 176 (1)<br/> Asset Use Transactions<br/> 177 (2)<br/> Claims Exchange Transactions<br/> 179 (1)<br/> Adjusting the Accounts<br/> 180 (3)<br/> Overview of Debit/Credit Relationships<br/> 183 (1)<br/> Summary of T-Accounts<br/> 184 (1)<br/> The Ledger<br/> 184 (2)<br/> The General Journal<br/> 186 (2)<br/> Financial Statements<br/> 188 (1)<br/> Closing Entries<br/> 188 (2)<br/> Trial Balance<br/> 190 (1)<br/> The Financial Analyst<br/> 191 (3)<br/> A Look Back<br/> 194 (1)<br/> A Look Forward<br/> 194 (1)<br/> Self-Study Review Problem<br/> 195 (2)<br/> Key Terms<br/> 197 (1)<br/> Questions<br/> 198 (1)<br/> Multiple-Choice Questions<br/> 198 (1)<br/> Exercises--Series A<br/> 198 (9)<br/> Problems--Series A<br/> 207 (8)<br/> Exercises--Series B<br/> 215 (8)<br/> Problems--Series B<br/> 223 (8)<br/> Analyze, Think, Communicate<br/> 231 (7)<br/> Accounting for Merchandising Businesses<br/> 238 (60)<br/> Chapter Opening<br/> 239 (2)<br/> Product Costs Versus Selling and Administrative Costs<br/> 241 (1)<br/> Allocating Inventory Cost Between Asset and Expense Accounts<br/> 241 (1)<br/> Perpetual Inventory System<br/> 241 (2)<br/> Effects of 2008 Events on Financial Statements<br/> 242 (1)<br/> Recording and Reporting Inventory Events in the Double-Entry System<br/> 243 (2)<br/> Financial Statements for 2008<br/> 244 (1)<br/> Transportation Cost, Purchase Returns and Allowances, and Cash Discounts Related to Inventory Purchases<br/> 245 (6)<br/> Effects of 2009 Events on Financial Statements<br/> 246 (1)<br/> Accounting for Purchase Returns and Allowances<br/> 246 (1)<br/> Purchase Discounts<br/> 247 (1)<br/> The Cost of Financing Inventory<br/> 248 (1)<br/> Accounting for Transportation Costs<br/> 248 (3)<br/> Recognizing Gains and Losses<br/> 251 (1)<br/> Recording and Reporting Inventory Events in the Double-Entry System<br/> 251 (2)<br/> Multistep Income Statement<br/> 253 (2)<br/> Lost, Damaged, or Stolen Inventory<br/> 255 (1)<br/> Adjustment for Lost, Damaged, or Stolen Inventory<br/> 255 (1)<br/> Events Affecting Sales<br/> 256 (3)<br/> Accounting for Sales Returns and Allowances<br/> 257 (1)<br/> Accounting for Sales Discounts<br/> 258 (1)<br/> The Financial Analyst<br/> 259 (4)<br/> A Look Back<br/> 263 (1)<br/> A Look Forward<br/> 263 (1)<br/> Appendix<br/> 264 (1)<br/> Self-Study Review Problem<br/> 265 (2)<br/> Key Terms<br/> 267 (1)<br/> Questions<br/> 267 (1)<br/> Multiple-Choice Questions<br/> 268 (1)<br/> Exercises--Series A<br/> 269 (8)<br/> Problems--Series A<br/> 277 (3)<br/> Exercises--Series B<br/> 280 (8)<br/> Problems--Series B<br/> 288 (3)<br/> Analyze, Think, Communicate<br/> 291 (5)<br/> Comprehensive Problem<br/> 296 (2)<br/> Accounting for Inventories<br/> 298 (44)<br/> Chapter Opening<br/> 299 (1)<br/> Inventory Cost Flow Methods<br/> 300 (1)<br/> Specific Identification<br/> 300 (1)<br/> First-In, First-Out (FIFO)<br/> 300 (1)<br/> Last-In, First-Out (UFO)<br/> 300 (1)<br/> Weighted Average<br/> 300 (1)<br/> Physical Flow<br/> 300 (1)<br/> Effect of Cost Flow on Financial Statements<br/> 300 (2)<br/> Effect on Income Statement<br/> 300 (1)<br/> Effect on Balance Sheet<br/> 301 (1)<br/> Inventory Cost Flow under a Perpetual System<br/> 302 (4)<br/> Multiple Layers with Multiple Quantities<br/> 302 (1)<br/> Allocating Cost of Goods Available for Sale<br/> 302 (1)<br/> Effect of Cost Flow on Financial Statements<br/> 303 (3)<br/> Inventory Cost Flow When Sales and Purchases Occur Intermittently<br/> 306 (2)<br/> FIFO Cost Flow<br/> 306 (1)<br/> Weighted-Average and UFO Cost Flows<br/> 307 (1)<br/> Lower-of-Cost-or-Market Rule<br/> 308 (1)<br/> Avoiding Fraud in Merchandising Businesses<br/> 309 (1)<br/> Estimating the Ending Inventory Balance<br/> 310 (2)<br/> The Financial Analyst<br/> 312 (2)<br/> Effects of Cost Flow on Ratio Analysis<br/> 314 (1)<br/> A Look Back<br/> 314 (1)<br/> A Look Forward<br/> 314 (1)<br/> Self-Study Review Problem<br/> 315 (1)<br/> Key Terms<br/> 316 (1)<br/> Questions<br/> 316 (1)<br/> Multiple-Choice Questions<br/> 317 (1)<br/> Exercises--Series A<br/> 317 (6)<br/> Problems--Series A<br/> 323 (3)<br/> Exercises--Series B<br/> 326 (6)<br/> Problems--Series B<br/> 332 (4)<br/> Analyze, Think, Communicate<br/> 336 (4)<br/> Comprehensive Problem<br/> 340 (2)<br/> Internal Control and Accounting for Cash<br/> 342 (48)<br/> Chapter Opening<br/> 343 (1)<br/> Key Features of Internal Control Systems<br/> 344 (2)<br/> Separation of Duties<br/> 344 (1)<br/> Quality of Employees<br/> 344 (1)<br/> Bonded Employees<br/> 344 (1)<br/> Required Absences<br/> 344 (1)<br/> Procedures Manual<br/> 345 (1)<br/> Authority and Responsibility<br/> 345 (1)<br/> Prenumbered Documents<br/> 345 (1)<br/> Physical Control<br/> 345 (1)<br/> Performance Evaluations<br/> 346 (1)<br/> Limitations<br/> 346 (1)<br/> Accounting for Cash<br/> 346 (11)<br/> Controlling Cash<br/> 346 (1)<br/> Cash Payments<br/> 347 (1)<br/> Checking Account Documents<br/> 348 (2)<br/> Reconciling the Bank Statement<br/> 350 (1)<br/> Illustrating a Bank Reconciliation<br/> 351 (3)<br/> Cash Short and Over<br/> 354 (1)<br/> Using Petty Cash Funds<br/> 355 (2)<br/> The Financial Analyst<br/> 357 (3)<br/> A Look Back<br/> 360 (1)<br/> A Look Forward<br/> 361 (1)<br/> Self-Study Review Problem<br/> 362 (1)<br/> Key Terms<br/> 362 (1)<br/> Questions<br/> 363 (1)<br/> Multiple-Choice Questions<br/> 364 (1)<br/> Exercises--Series A<br/> 364 (4)<br/> Problems--Series A<br/> 368 (5)<br/> Exercises--Series B<br/> 373 (5)<br/> Problems--Series B<br/> 378 (5)<br/> Analyze, Think, Communicate<br/> 383 (4)<br/> Comprehensive Problem<br/> 387 (3)<br/> Accounting for Receivables and Payables<br/> 390 (52)<br/> Chapter Opening<br/> 391 (1)<br/> Allowance Method of Accounting for Bad Debts<br/> 392 (8)<br/> Accounting Events Affecting the 2008 Period<br/> 392 (1)<br/> Accounting for Bad Debts Expense<br/> 392 (2)<br/> General Ledger T-Accounts<br/> 394 (1)<br/> Financial Statements<br/> 395 (1)<br/> Estimating Bad Debts Expense<br/> 396 (1)<br/> Accounting Events Affecting the 2009 Period<br/> 396 (2)<br/> Year-End Adjusting Entries<br/> 398 (1)<br/> General Ledger T-Accounts<br/> 398 (1)<br/> Analysis of Financial Statements<br/> 399 (1)<br/> Recognition of Bad Debts Expense Using the Direct Write-Off Method<br/> 400 (1)<br/> Accounting for Credit Card Sales<br/> 401 (1)<br/> Warranty Obligations<br/> 402 (3)<br/> General Ledger T-Accounts and Financial Statements<br/> 403 (2)<br/> The Financial Analyst<br/> 405 (1)<br/> Costs of Credit Sales<br/> 405 (3)<br/> A Look Back<br/> 408 (1)<br/> A Look Forward<br/> 409 (1)<br/> Appendix<br/> 409 (5)<br/> Self-Study Review Problem<br/> 414 (1)<br/> Key Terms<br/> 414 (1)<br/> Questions<br/> 415 (1)<br/> Multiple-Choice Questions<br/> 416 (1)<br/> Exercises--Series A<br/> 416 (5)<br/> Problems--Series A<br/> 421 (5)<br/> Exercises--Series B<br/> 426 (6)<br/> Problems--Series B<br/> 432 (5)<br/> Analyze, Think, Communicate<br/> 437 (3)<br/> Comprehensive Problem<br/> 440 (2)<br/> Accounting for Long-Term Operational Assets<br/> 442 (58)<br/> Chapter Opening<br/> 443 (1)<br/> Tangible Versus Intangible Assets<br/> 444 (1)<br/> Tangible Long-Term Assets<br/> 444 (1)<br/> Intangible Assets<br/> 444 (1)<br/> Determining the Cost of Long-Term Assets<br/> 445 (1)<br/> Basket Purchase Allocation<br/> 445 (1)<br/> Life Cycle of Operational Assets<br/> 446 (1)<br/> Methods of Recognizing Depreciation Expense<br/> 446 (9)<br/> Straight-Line Depreciation<br/> 447 (3)<br/> Double-Declining-Balance Depreciation<br/> 450 (2)<br/> Units-of-Production Depreciation<br/> 452 (1)<br/> Comparing the Depreciation Methods<br/> 453 (2)<br/> Income Tax Considerations<br/> 455 (1)<br/> Revision of Estimates<br/> 456 (1)<br/> Revision of Life<br/> 456 (1)<br/> Revision of Salvage<br/> 456 (1)<br/> Continuing Expenditures for Plant Assets<br/> 457 (2)<br/> Costs that Are Expensed<br/> 457 (1)<br/> Costs that Are Capitalized<br/> 457 (2)<br/> Natural Resources<br/> 459 (1)<br/> Intangible Assets<br/> 460 (2)<br/> Trademarks<br/> 460 (1)<br/> Patents<br/> 460 (1)<br/> Copyrights<br/> 460 (1)<br/> Franchises<br/> 460 (1)<br/> Goodwill<br/> 461 (1)<br/> Expense Recognition for Intangible Assets<br/> 462 (2)<br/> Expensing Intangible Assets with Identifiable Useful Lives<br/> 462 (1)<br/> Impairment Losses for Intangible Assets with Indefinite Useful Lives<br/> 463 (1)<br/> Balance Sheet Presentation<br/> 464 (1)<br/> The Financial Analyst<br/> 464 (2)<br/> A Look Back<br/> 466 (1)<br/> A Look Forward<br/> 467 (1)<br/> Self-Study Review Problem<br/> 467 (1)<br/> Key Terms<br/> 468 (1)<br/> Questions<br/> 468 (1)<br/> Multiple-Choice Questions<br/> 469 (1)<br/> Exercises--Series A<br/> 469 (6)<br/> Problems--Series A<br/> 475 (6)<br/> Exercises--Series B<br/> 481 (5)<br/> Problems--Series B<br/> 486 (6)<br/> Analyze, Think, Communicate<br/> 492 (6)<br/> Comprehensive Problem<br/> 498 (2)<br/> Accounting for Long-Term Debt<br/> 500 (58)<br/> Chapter Opening<br/> 501 (1)<br/> Installment Notes Payable<br/> 502 (3)<br/> Line of Credit<br/> 505 (1)<br/> Bond Liabilities<br/> 505 (7)<br/> Advantages of Issuing Bonds<br/> 506 (1)<br/> Security of Bonds<br/> 507 (1)<br/> Timing of Maturity<br/> 507 (1)<br/> Special Features<br/> 508 (1)<br/> Bond Ratings<br/> 508 (1)<br/> Bonds Issued at Face Value<br/> 509 (1)<br/> Recording Procedures<br/> 509 (1)<br/> Effect of Events on Financial Statements<br/> 510 (1)<br/> Financial Statements<br/> 511 (1)<br/> Bonds Issued at a Discount<br/> 512 (5)<br/> Effective Interest Rate<br/> 512 (1)<br/> Bond Prices<br/> 513 (1)<br/> Mason Company Revisited<br/> 513 (2)<br/> Effect on Financial Statements<br/> 515 (2)<br/> Effect of Semiannual Interest Payments<br/> 517 (1)<br/> Bonds Issued at a Premium<br/> 517 (1)<br/> The Market Rate of Interest<br/> 518 (1)<br/> Bond Redemptions<br/> 518 (1)<br/> Security for Loan Agreements<br/> 519 (1)<br/> The Financial Analyst<br/> 519 (3)<br/> A Look Back<br/> 522 (1)<br/> A Look Forward<br/> 522 (1)<br/> Appendix<br/> 523 (4)<br/> Self-Study Review Problem<br/> 527 (1)<br/> Key Terms<br/> 527 (1)<br/> Questions<br/> 528 (1)<br/> Multiple-Choice Questions<br/> 529 (1)<br/> Exercises--Series A<br/> 529 (7)<br/> Problems--Series A<br/> 536 (3)<br/> Exercises--Series B<br/> 539 (7)<br/> Problems--Series B<br/> 546 (4)<br/> Analyze, Think, Communicate<br/> 550 (6)<br/> Comprehensive Problem<br/> 556 (2)<br/> Accounting for Equity Transactions<br/> 558 (46)<br/> Chapter Opening<br/> 560 (1)<br/> Formation of Business Organizations<br/> 560 (1)<br/> Ownership Agreements<br/> 560 (1)<br/> Advantages and Disadvantages of Different Forms of Business Organization<br/> 560 (3)<br/> Regulation<br/> 560 (1)<br/> Double Taxation<br/> 561 (1)<br/> Limited Liability<br/> 562 (1)<br/> Continuity<br/> 562 (1)<br/> Transferability of Ownership<br/> 563 (1)<br/> Management Structure<br/> 563 (1)<br/> Ability to Raise Capital<br/> 563 (1)<br/> Appearance of Capital Structure in Financial Statements<br/> 563 (2)<br/> Presentation of Equity in Proprietorships<br/> 563 (1)<br/> Presentation of Equity in Partnerships<br/> 564 (1)<br/> Presentation of Equity in Corporations<br/> 565 (1)<br/> Characteristics of Capital Stock<br/> 565 (1)<br/> Par Value<br/> 565 (1)<br/> Stated Value<br/> 565 (1)<br/> Other Valuation Terminology<br/> 566 (1)<br/> Stock: Authorized, Issued, and Outstanding<br/> 566 (1)<br/> Classes of Stock<br/> 566 (2)<br/> Common Stock<br/> 566 (1)<br/> Preferred Stock<br/> 567 (1)<br/> Accounting for Stock Transactions on the Day of Issue<br/> 568 (2)<br/> Issuing Par Value Stock<br/> 568 (1)<br/> Stock Clarification<br/> 568 (1)<br/> Stock Issued at Stated Value<br/> 569 (1)<br/> Stock Issued with No-Par Value<br/> 569 (1)<br/> Financial Statement Presentation<br/> 570 (1)<br/> Stockholders' Equity Transactions after the Day of Issue<br/> 570 (4)<br/> Treasury Stock<br/> 570 (2)<br/> Cash Dividend<br/> 572 (1)<br/> Stock Dividend<br/> 573 (1)<br/> Stock Split<br/> 573 (1)<br/> Appropriation of Retained Earnings<br/> 574 (1)<br/> Financial Statement Presentation<br/> 574 (1)<br/> The Financial Analyst<br/> 575 (2)<br/> A Look Back<br/> 577 (1)<br/> A Look Forward<br/> 578 (1)<br/> Self-Study Review Problem<br/> 578 (1)<br/> Key Terms<br/> 579 (1)<br/> Questions<br/> 579 (1)<br/> Multiple-Choice Questions<br/> 580 (1)<br/> Exercises--Series A<br/> 581 (4)<br/> Problems--Series A<br/> 585 (3)<br/> Exercises--Series B<br/> 588 (5)<br/> Problems--Series B<br/> 593 (3)<br/> Analyze, Think, Communicate<br/> 596 (6)<br/> Comprehensive Problem<br/> 602 (2)<br/> Statement of Cash Flows<br/> 604 (51)<br/> Chapter Opening<br/> 605 (1)<br/> Operating Activities<br/> 606 (1)<br/> Investing Activities<br/> 606 (1)<br/> Financing Activities<br/> 606 (1)<br/> Noncash Investing and Financing Activities<br/> 606 (1)<br/> Reporting Format for the Statement of Cash Flows<br/> 606 (1)<br/> Converting from Accrual to Cash-Basis Accounting<br/> 607 (5)<br/> Operating Activities<br/> 609 (1)<br/> Procedures for Determining Cash Flow from Operating Activities under the Indirect Method<br/> 610 (2)<br/> Preparing the Operating Activities Section of the Statement of Cash Flows Using the Direct Method<br/> 612 (9)<br/> Preparing the Investing Activities Section of the Statement of Cash Flows<br/> 615 (2)<br/> Preparing the Financing Activities Section of We Statement of Cash Flows<br/> 617 (4)<br/> Preparing the Schedule of Noncash Investing and Financing Activities for the Statement of Cash Flows<br/> 621 (1)<br/> The Financial Analyst<br/> 621 (2)<br/> A Look Back<br/> 623 (1)<br/> A Look Forward<br/> 623 (1)<br/> Appendix<br/> 624 (1)<br/> Self-Study Review Problem<br/> 625 (3)<br/> Key Terms<br/> 628 (1)<br/> Questions<br/> 628 (1)<br/> Multiple-Choice Questions<br/> 629 (1)<br/> Exercises--Series A<br/> 629 (4)<br/> Problems--Series A<br/> 633 (6)<br/> Exercises--Series B<br/> 639 (4)<br/> Problems--Series B<br/> 643 (6)<br/> Analyze, Think, Communicate<br/> 649 (6)<br/> (Online) Financial Statement Analysis<br/> <br/>Appendix A Accessing the EDGAR Database Through the Internet 655 (1)<br/>Appendix B Annual Report for The Topps Company, Inc. 656 (55)<br/>Appendix C Summary of Financial Ratios 711 (3)<br/>Appendix D Annual Report and Financial Statement Analysis Projects 714 (11)<br/>Appendix E Accounting for Investment Securities 725 (9)<br/>Appendix F Time Value of Money 734 (8)<br/>Glossary 742 (11)<br/>Photo Credits 753 (1)<br/>Index 754 |
