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Mariya Breyther

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Chris Sorensen

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Chris Sorensen & Ammul Shergill

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Jared P. Lander

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Confused by balance sheets, income statements, or debits and credits? Get accounting concepts broken down step-by-step to build confidence for assignments and exams.

Brian Krogol

https://static.studychannel.pearsonprd.techhttps://d13hgauxz9vfrb.cloudfront.net/courses/financial-accounting/thumbnails/financial-accounting

1. Introduction to Accounting

2. Transaction Analysis

3. Accrual Accounting Concepts

4. Merchandising Operations

5. Inventory

6. Internal Controls and Reporting Cash

7. Receivables and Investments

8. Long Lived Assets

9. Current Liabilities

10. Time Value of Money

11. Long Term Liabilities

12. Stockholders' Equity

13. Statement of Cash Flows

14. Financial Statement Analysis

15. GAAP vs IFRS

[BOOK ACG1] Clutch

Closing Entries

Post-Closing Trial Balance

Service Company vs. Merchandising Company

Net Sales

Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory

Perpetual Inventory - Purchases

Perpetual Inventory - Freight Costs

Perpetual Inventory - Purchase Discounts

Perpetual Inventory - Purchasing Summary

Periodic Inventory - Purchases

Periodic Inventory - Freight Costs

Periodic Inventory - Purchase Discounts

Periodic Inventory - Purchasing Summary

Single-step Income Statement

Multi-step Income Statement

Comprehensive Income

Merchandising Company vs. Manufacturing Company

Physical Inventory Count, Ownership of Goods, and Consigned Goods

Specific Identification

Periodic Inventory - FIFO, LIFO, and Average Cost

Perpetual Inventory - FIFO, LIFO, and Average Cost

Financial Statement Effects of Inventory Costing Methods

Financial Accounting Midterm - Part 2 of 3

Calculate the ending inventory balance using a T account with: Beginning Inventory \$60,000, Purchases \$40,000, Purchase Discounts \$3,000, Purchase Returns \$4,000, and COGS \$30,000.