Part I Fill-In-The-Blanks(10\2=20 points) 1.A is a collection of all accounts used by a business 2. All cash payments by check are recorded in thejournal 3. Revenue and expense accounts are called because they are opene

Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 8 Accounting Information System Exercise Matching For each numbered item, choose the appropriate journal and write the identifying letter 1. Bought merchandise on account Sales journal 2. Sold merchandise for cash 3. Bought merchandise for cash P Purchases journal 4. Collected accounts receivable and allowed a cash discount 5. Bought store equipment on credit CR Cash receipts journal 6. Recorded accrued wages

Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 6 Accounting for Merchandising Activities Self-Test I. True and False Questions 1. The income statement of a wholesaler includes a deduction from revenue representing the cost

Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 7 Merchandise Inventories and Cost of Sales Self-Test I. True and False Questions 1. The inventory of a merchandising company may include manufactured products, but not perishable products such as fruits and vegetables

Task Team of FUNDAMENTAL ACCOUNTING School of Business. Sun Y at-sen University Lesson 11 Understanding Accounting standards Self-Test True and False Questions I. Accounting standards are laws accountants should follow in their work 2. The scandals, such as Enron and the Yinguangxia, happened because the accounting

Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 13 Managerial Accounting I: Concepts and Principles Self-Test I. True and False Questions 1. Managerial accounting places less emphasis on precision and more emphasis on flexibility

Outline Merchandising activities Operating cycle of merchandising companies Merchandising cost accounts Inventory systems Merchandise purchases Sales transactions Adjusting and closing entries Task Team of FUNDAMENTAL

Demand and supply of financial analysis Basic analytical procedures Analysis methods Comprehensive analysis of financial ratios The limitations of financial analysis Task Team of FUNDAMENTAL ACCOUNTING, Business School. Sun Yat-sen University

Task Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson 1: Introduction to accounting Learning Objectives Understand the concepts of economic man and nature of firm from the perspective of

Task Team of FUNDAMENTAL ACCOUntING hool of Business, Sun Y at-sen University Lesson notes Lesson 2: Economic Transactions and Accounting Equation Learning objectives This lesson begins with a discussion of the purpose of a business, including a discussion of forms of organizations. Next, the nature of