By Jerry J. Weygandt, Donald E. Kieso, Paul D. Kinmel
Weygandt is helping company managers see the relevance of accounting of their daily lives. not easy accounting strategies are brought with examples which are accepted to them, which is helping construct motivation to profit the cloth. Accounting concerns also are positioned in the context of promoting, administration, IT, and finance. the recent Do It! function reinforces the fundamentals via delivering quick-hitting examples of short workouts. The chapters additionally include the All approximately You (AAY) function in addition to the Accounting around the association (AAO) bins that spotlight the influence of accounting techniques. With those beneficial properties, company managers will study the recommendations and know how to successfully follow them.
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Extra resources for Financial Accounting (7th Edition)
Example text
Lisa Ortega asks you to review the following eight entries of the 50 entries made during the month. In each case, the explanation for the entry is correct. May 1 5 Cash Common Stock (Invested $18,000 cash in exchange for stock) Cash Riding Revenue (Received $250 cash for lessons provided) Student Owner's Manual Decision Making Across the Organization Decision Making Across the Organization cases helps students build decision-making skills by analyzing accounting information in a less structured situation.
3. 4. 45 Exploring the Web exercises guide students to websites where they can find and analyze information related to the chapter topic. qxd 9/9/09 6:11 PM Page xxvii BYP2-4 Lisa Ortega operates Ortega Riding Academy. The academy’s primary sources of revenue are riding fees and lesson fees, which are paid on a cash basis. Lisa also boards horses for owners, who are billed monthly for boarding fees. In a few cases, boarders pay in advance of expected use. For its revenue transactions, the academy maintains the following accounts: No.
In a few cases, boarders pay in advance of expected use. For its revenue transactions, the academy maintains the following accounts: No. 1 Cash, No. 5 Boarding Accounts Receivable, No. 27 Unearned Boarding Revenue, No. 51 Riding Revenue, No. 52 Lesson Revenue, and No. 53 Boarding Revenue. The academy owns 10 horses, a stable, a riding corral, riding equipment, and office equipment. These assets are accounted for in accounts No. 11 Horses, No. 12 Building, No. 13 Riding Corral, No. 14 Riding Equipment, and No.