Accounting (9th Edition) by Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne

By Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliver

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With its tried-and-true framework and revered writer crew, Horngren/Harrison/Oliver's Accounting—when mixed with MyAccountingLab—is the relied on selection for teachers and scholars of ideas of Accounting.

Accounting and the enterprise atmosphere;
Recording enterprise Transactions;
The Adjusting method;
Completing the Accounting Cycle;
Merchandising Operations;
Merchandise stock;
Internal keep watch over and funds;
Receivables;
Plant resources and Intangibles;
Current Liabilities and Payroll;
Long-Term Liabillities, Bonds Payable, and category of Liabilities at the stability Sheet;
Corporations, Paid-In Capital, and the stability Sheet;
Corporations: results on Retained gains and the source of revenue assertion;
Statement of money Flows;
Financial assertion research;
Statement of money Flows;
Financial assertion research;
Introduction to administration Accounting;
Job Order and strategy Costing;
Activity-Based Costing and different Cost-Management instruments;
Cost-Volume-Profit research;
Short-Term enterprise judgements;
Capital funding judgements and the Time price of cash;
The grasp price range and accountability Accounting;
Flexible Budgets and traditional charges;
Performance review and the Balanced Scorecard marketplace:

For somebody drawn to studying the foundations of accounting.

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Sample text

The effect on the accounting equation is an increase in Cash and an increase in Bright, capital, as follows: LIABILITIES + OWNER’S EQUITY ASSETS Office Cash + supplies + Land Bal 10,000 (4) +5,500 Bal 15,500 500 20,000 Accounts payable + = 500 Bright, capital 30,000 +5,500 500 36,000 20,000 TYPE OF OE TRANSACTION 500 Service revenue 35,500 36,000 A revenue transaction grows the business, as shown by the increases in assets and owner’s equity (Bright, capital). Transaction 5: Earning of Service Revenue on Account Smart Touch performs a service for clients who do not pay immediately.

You should note that this transaction does not affect Supplies because we are not buying more supplies. We are simply paying off a liability, not acquiring more assets or incurring a new expense. The effect of this transaction on the accounting equation is as follows: OWNER’S = LIABILITIES + ASSETS EQUITY TYPE OF OE TRANSACTION Accounts Accounts Richardson, capital Cash + receivable + Supplies + Truck = payable + Bal f. 23,000 4,000 1,800 20,000 1,800 –800 Bal 22,200 47,000 –800 4,000 1,800 20,000 = 1,000 48,000 = 48,000 47,000 g.

In this case, there is a decrease of $1,500 to Cash (an asset). David is the owner of the proprietorship and is being given some of his value/ownership in cash. In other words, some of the earnings that were retained by the business are 31 32 Chapter 1 now being distributed to the owner. This results in a decrease of $1,500 to owner’s equity, because Richardson, capital is decreasing. You should note that drawings are not an expense because the cash is not used for operations. The cash drawings are for the owner’s personal use rather than to earn revenue for the business.

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