Test Bank For Horngren’s Accounting, Volume 1, Eleventh Canadian Edition, 11th edition Tracie Miller-Nobles

Description

Title Page

Copyright Page

Brief Contents

Contents

About the Authors

About the Canadian Authors

Changes to This Edition

Horngren’s Accounting …Expanding on Proven Success

Textbook Features

Acknowledgments

Part 1 The Basic Structure of Accounting

1 Accounting and the Business Environment

Accounting: The Language of Business

Forms of Business Organizations

Accounting Concepts

The Accounting Equation

The Financial Statements

Summary Problem for Your Review

Summary

Assignment Material

Extending Your Knowledge

2 Recording Business Transactions

The Accounting Cycle

Chart of Accounts

Double-Entry Accounting

Source Documents—The Origin of Transactions

Recording Transactions in the Journal

Posting (Transferring Information) from the Journal to the Ledger

Accounting for Business Transactions

The Trial Balance

Summary Problem for Your Review

Summary

Assignment Material

Extending Your Knowledge

3 Measuring Business Income: The Adjusting Process

Time Period Assumption

Recognition Criteria for Revenues and Expenses

Accrual-Basis Accounting versus Cash-Basis Accounting

Adjusting the Accounts

The Adjusted Trial Balance

Preparing the Financial Statements from the Adjusted Trial Balance

Summary Problem for Your Review

Chapter 3 Appendix: Alternative Treatment of Accounting for Prepaid Expenses and Unearned Revenues

Summary

Assignment Material

Extending Your Knowledge

4 Completing the Accounting Cycle

The Accounting Cycle

The Worksheet

Working Through the Accounting Cycle

Closing the Accounts

Correcting Journal Entries

Classifying Assets and Liabilities

Accounting Ratios

Summary Problem for Your Review

Chapter 4 Appendix: Reversing Entries: An Optional Step

Summary

Assignment Material

Extending Your Knowledge

5 Merchandising Operations

What are Merchandising Operations?

Inventory Systems: Perpetual and Periodic

Accounting for Inventory Purchases in the Perpetual Inventory System

Selling Inventory and Recording Cost of Goods Sold

Adjusting and Closing the Accounts of a Merchandising Business

Preparing a Merchandiser’s Financial Statements

Two Ratios for Decision Making

Summary Problem for Your Review

Chapter 5 Appendix A: Accounting for Merchandise in a Periodic Inventory System

Summary Problem for Your Review

Chapter 5 Appendix B: Comparing The Perpetual and Periodic Inventory Systems

Summary

Assignment Material

Extending Your Knowledge

6 Accounting for Merchandise Inventory

Inventory Costing Methods

Inventory Costing in a Perpetual System

Comparing FIFO and Moving-Weighted-Average Cost

Inventory Costing in a Periodic System

Other Inventory Issues

Estimating Ending Inventory

Summary Problem for Your Review

Summary

Assignment Material

Extending Your Knowledge

7 Accounting Information Systems

Effective Accounting Information Systems

How Accounting Systems Work

Special Journals

The Role of the General Journal

Summary Problem for Your Review

Summary

Assignment Material

Extending Your Knowledge

Part 2 Accounting for Assets and Liabilities

8 Internal Control and Cash

Internal Control

The Components of Internal Control

The Bank Account as a Control Device

Internal Control Over Cash Receipts

Internal Control Over Cash Payments

Internal Control Over Petty Cash

Ethics and Accounting

Summary Problem for Your Review

Summary

Assignment Material

Extending Your Knowledge

9 Receivables

Receivables: An Introduction

Accounting for Uncollectible Accounts

The Direct Write-off Method

Other Payment Methods

Accounting for Notes Receivable

Using Accounting Information for Decision Making

Summary Problem for Your Review

Chapter 9 Appendix: Discounting (Selling) A Notes Receivable

Summary

Assignment Material

Extending Your Knowledge

10 Property, Plant, and Equipment

Measuring the Cost of PPE

Lump-Sum Purchase of Assets

Betterments versus Repairs

Ethical Issues

Amortization

Other Issues in Accounting for PPE

Disposing of PPE

Accounting for Natural Resources

Intangible Assets and Goodwill

Summary Problems for Your Review

Summary

Assignment Material

Extending Your Knowledge

11 Current Liabilities and Payroll

Current Liabilities of a Known Amount

Current Liabilities that must be Estimated

Contingent Liabilities

Ethical Issues in Accounting for Current and Contingent Liabilities

Accounting for Payroll

Independent Contractors

Reporting Current Liabilities

Summary Problems for Your Review

Summary

Assignment Material

Extending Your Knowledge

Appendix A: Indigo Books and Music Inc. 2017 Annual Report A-1

Appendix B: Typical Chart of Accounts for Service Proprietorships B-1

Glossary