Store

Test Bank for Horngren's Financial & Managerial Accounting, The Financial Chapters 6th Edition by Tracie

By: Tracie Miller-Nobles Brenda Mattison Ella Mae Matsumura
ISBN-10: 0134486846
/ ISBN-13: 9780134491820

Study Guide Details

Edition: 6th Edition
Format: Downloadable ZIP File
Authors: Tracie Miller-Nobles Brenda Mattison Ella Mae Matsumura
Secure Stripe Payment Logo.png

TEST BANK

$30.00 $25.00

Instant Download to your account.

Description

    • Why Is Accounting Important?
    • Decision Makers: The Users of Accounting Information
    • Accounting Matters
    • What Are the Organizations and Rules That Govern Accounting?
    • Governing Organizations
    • Generally Accepted Accounting Principles
    • The Economic Entity Assumption
    • The Cost Principle
    • The Going Concern Assumption
    • The Monetary Unit Assumption
    • International Financial Reporting Standards
    • Ethics in Accounting and Business
    • What Is the Accounting Equation?
    • Assets
    • Liabilities
    • Equity
    • How Do You Analyze a Transaction?
    • Transaction Analysis for Smart Touch Learning
    • How Do You Prepare Financial Statements?
    • Income Statement
    • Statement of Retained Earnings
    • Balance Sheet
    • Statement of Cash Flows
    • How Do You Use Financial Statements to Evaluate Business Performance?
    • Kohl’s Corporation
    • Return on Assets (ROA)
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 2 RECORDING BUSINESS TRANSACTIONS

    • What Is an Account?
    • Assets
    • Liabilities
    • Equity
    • Chart of Accounts
    • Ledger
    • What Is Double-Entry Accounting?
    • The T-Account
    • Increases and Decreases in the Accounts
    • Expanding the Rules of Debit and Credit
    • The Normal Balance of an Account
    • Determining the Balance of a T-Account
    • How Do You Record Transactions?
    • Source Documents—The Origin of the Transactions
    • Journalizing and Posting Transactions
    • The Ledger Accounts After Posting
    • The Four-Column Account: An Alternative to the T-Account
    • What Is the Trial Balance?
    • Preparing Financial Statements from the Trial Balance
    • Correcting Trial Balance Errors
    • How Do You Use the Debt Ratio to Evaluate Business Performance?
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 3 THE ADJUSTING PROCESS

    • What Is the Difference Between Cash Basis Accounting and Accrual Basis Accounting?
    • What Concepts and Principles Apply to Accrual Basis Accounting?
    • The Time Period Concept
    • The Revenue Recognition Principle
    • The Matching Principle
    • What Are Adjusting Entries, and How Do We Record Them?
    • Deferred Expenses
    • Accrued Expenses
    • Accrued Revenues
    • What Is the Purpose of the Adjusted Trial Balance, and How Do We Prepare It?
    • What Is the Impact Of Adjusting Entries On the Financial Statements?
    • How Could a Worksheet Help in Preparing Adjusting Entries and the Adjusted Trial Balance?
    • APPENDIX 3A: Alternative Treatment of Recording Deferred Expenses and Deferred Revenues
    • What Is an Alternative Treatment of Recording Deferred Expenses and Deferred Revenues?
    • Deferred Expenses
    • Deferred Revenues
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 4 COMPLETING THE ACCOUNTING CYCLE

    • How Do We Prepare Financial Statements?
    • Relationships Among the Financial Statements
    • Classified Balance Sheet
    • How Could a Worksheet Help in Preparing Financial Statements?
    • Section 5—Income Statement
    • Section 6—Balance Sheet
    • Section 7—Determine Net Income or Net Loss
    • What Is the Closing Process, and How Do We Close the Accounts?
    • Closing Temporary Accounts—Net Income for the Period
    • Closing Temporary Accounts—Net Loss for the Period
    • Closing Temporary Accounts—Summary
    • How Do We Prepare a Post-Closing Trial Balance?
    • What Is the Accounting Cycle?
    • How Do We Use the Current Ratio to Evaluate Business Performance?
    • APPENDIX 4A: Reversing Entries: An Optional Step
    • What Are Reversing Entries?
    • Accounting for Accrued Expenses
    • Accounting Without a Reversing Entry
    • Accounting With a Reversing Entry
    • Review
    • Assess Your Progress
    • Critical Thinking
    • Comprehensive Problem 1 for Chapters 1–4
    • Comprehensive Problem 2 for Chapters 1–4

CHAPTER 5 MERCHANDISING OPERATIONS

    • What Are Merchandising Operations?
    • The Operating Cycle of a Merchandising Business
    • Merchandise Inventory Systems: Perpetual and Periodic Inventory Systems
    • How Are Purchases of Merchandise Inventory Recorded in a Perpetual Inventory System?
    • Purchase of Merchandise Inventory
    • Purchase Discounts
    • Purchase Returns and Allowances
    • Transportation Costs
    • Cost of Inventory Purchased
    • How Are Sales of Merchandise Inventory Recorded in a Perpetual Inventory System?
    • Cash and Credit Card Sales
    • Sales on Account
    • Sales Discounts
    • Sales Returns and Allowances
    • Transportation Costs—Freight Out
    • What Are the Adjusting and Closing Entries For a Merchandiser?
    • Adjusting Merchandise Inventory Based on a Physical Count
    • Closing the Accounts of a Merchandiser
    • How Are a Merchandiser’s Financial Statements Prepared?
    • Income Statement
    • Statement of Retained Earnings and the Balance Sheet
    • How Do We Use the Gross Profit Percentage to Evaluate Business Performance?
    • APPENDIX 5A: Accounting for Multiple Peformance Obligations
    • How Are Multiple Performance Obligations Recorded in a Perpetual Inventory System?
    • APPENDIX 5B: Accounting for Merchandise Inventory in a Periodic Inventory System
    • How Are Merchandise Inventory Transactions Recorded in a Periodic Inventory System?
    • Purchases of Merchandise Inventory
    • Sales of Merchandise Inventory
    • Preparing Financial Statements
    • Adjusting and Closing Entries
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 6 MERCHANDISE INVENTORY

    • What Are the Accounting Principles and Controls That Relate to Merchandise Inventory?
    • Accounting Principles
    • Control Over Merchandise Inventory
    • How Are Merchandise Inventory Costs Determined Under a Perpetual Inventory System?
    • Specific Identification Method
    • First-In, First-Out (FIFO) Method
    • Last-In, First-Out (LIFO) Method
    • Weighted-Average Method
    • How Are Financial Statements Affected by Using Different Inventory Costing Methods?
    • Income Statement
    • Balance Sheet
    • How Is Merchandise Inventory Valued When Using the Lower-of-Cost-or-Market Rule?
    • Computing the Lower-of-Cost-or-Market
    • Recording the Adjusting Journal Entry to Adjust Merchandise Inventory
    • What Are the Effects of Merchandise Inventory Errors on the Financial Statements?
    • How Do We Use Inventory Turnover and Days’ Sales in Inventory to Evaluate Business Performance?
    • Inventory Turnover
    • Days’ Sales in Inventory
    • APPENDIX 6A: Merchandise Inventory Costs Under a Periodic Inventory System
    • How Are Merchandise Inventory Costs Determined Under a Periodic Inventory System?
    • First-In, First Out (FIFO) Method
    • Last-In, First-Out (LIFO) Method
    • Weighted-Average Method
    • Review
    • Assess Your Progress
    • Critical Thinking
    • Comprehensive Problem for Chapters 5 and 6

CHAPTER 7 INTERNAL CONTROL AND CASH

    • What Is Internal Control, and How Can It Be Used to Protect a Company’s Assets?
    • Internal Control and the Sarbanes-Oxley Act
    • The Components of Internal Control
    • Internal Control Procedures
    • The Limitations of Internal Control—Costs and Benefits
    • What Are the Internal Control Procedures With Respect to Cash Receipts?
    • Cash Receipts Over the Counter
    • Cash Receipts by Mail
    • What Are the Internal Control Procedures With Respect to Cash Payments?
    • Controls Over Payment by Check
    • How Can a Petty Cash Fund Be Used for Internal Control Purposes?
    • Setting Up the Petty Cash Fund
    • Replenishing the Petty Cash Fund
    • Changing the Amount of the Petty Cash Fund
    • How Are Credit Card Sales Recorded?
    • How Can the Bank Account Be Used as a Control Device?
    • Signature Card
    • Deposit Ticket
    • Check
    • Bank Statement
    • Electronic Funds Transfers
    • Bank Reconciliation
    • Examining a Bank Reconciliation
    • Journalizing Transactions from the Bank Reconciliation
    • How Can the Cash Ratio Be Used to Evaluate Business Performance?
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 8 RECEIVABLES

    • What Are Common Types of Receivables, and How Are Credit Sales Recorded?
    • Types of Receivables
    • Exercising Internal Control Over Receivables
    • Recording Sales on Credit
    • Decreasing Collection Time and Credit Risk
    • How Are Uncollectibles Accounted for When Using the Direct Write-Off Method?
    • Recording and Writing Off Uncollectible Accounts—Direct Write-off Method
    • Recovery of Accounts Previously Written Off—Direct Write-off Method
    • Limitations of the Direct Write-off Method
    • How Are Uncollectibles Accounted For When Using the Allowance Method?
    • Recording Bad Debts Expense—Allowance Method
    • Writing Off Uncollectible Accounts—Allowance Method
    • Recovery of Accounts Previously Written Off—Allowance Method
    • Estimating and Recording Bad Debts Expense—Allowance Method
    • Comparison of Accounting for Uncollectibles
    • How Are Notes Receivable Accounted For?
    • Identifying Maturity Date
    • Computing Interest on a Note
    • Accruing Interest Revenue and Recording Honored Notes Receivable
    • Recording Dishonored Notes Receivable
    • How Do We Use the Acid-Test Ratio, Accounts Receivable Turnover Ratio, and Days’ Sales in Receivab
    • Acid-Test (or Quick) Ratio
    • Accounts Receivable Turnover Ratio
    • Days’ Sales in Receivables
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 9 PLANT ASSETS, NATURAL RESOURCES, AND INTANGIBLES

    • How Does a Business Measure the Cost of Property, Plant, and Equipment?
    • Land and Land Improvements
    • Buildings
    • Machinery and Equipment
    • Furniture and Fixtures
    • Lump-Sum Purchase
    • Capital and Revenue Expenditures
    • What Is Depreciation, and How Is It Computed?
    • Factors in Computing Depreciation
    • Depreciation Methods
    • Partial-Year Depreciation
    • Changing Estimates of a Depreciable Asset
    • Reporting Property, Plant, and Equipment
    • How Are Disposals of Plant Assets Recorded?
    • Discarding Plant Assets
    • Selling Plant Assets
    • How Are Natural Resources Accounted For?
    • How Are Intangible Assets Accounted For?
    • Accounting for Intangibles
    • Specific Intangibles
    • Reporting of Intangible Assets
    • How Do We Use the Asset Turnover Ratio to Evaluate Business Performance?
    • APPENDIX 9A: Exchanging Plant Assets
    • How Are Exchanges of Plant Assets Accounted For?
    • Exchange of Plant Assets–Gain Situation
    • Exchange of Plant Assets–Loss Situation
    • Review
    • Assess Your Progress
    • Critical Thinking
    • Comprehensive Problem for Chapters 7, 8, and 9

CHAPTER 10 INVESTMENTS

    • Why Do Companies Invest?
    • Debt Securities Versus Equity Securities
    • Reasons to Invest
    • Classification and Reporting of Investments
    • How Are Investments in Debt Securities Accounted For?
    • Purchase of Debt Securities
    • Interest Revenue
    • Disposition at Maturity
    • How Are Investments in Equity Securities Accounted For?
    • Equity Securities with No Significant Influence
    • Equity Securities with Significant Influence (Equity Method)
    • Equity Securities with Control (Consolidations)
    • How Are Debt and Equity Securities Reported?
    • Trading Debt Investments
    • Available-for-Sale Debt Investments
    • Held-to-Maturity Debt Investments
    • Equity Investments with No Significant Influence
    • How Do We Use the Rate of Return on Total Assets to Evaluate Business Performance?
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 11 CURRENT LIABILITIES AND PAYROLL

    • How Are Current Liabilities of Known Amounts Accounted For?
    • Accounts Payable
    • Sales Tax Payable
    • Income Tax Payable
    • Unearned Revenues
    • Short-term Notes Payable
    • Current Portion of Long-term Notes Payable
    • How Do Companies Account For and Record Payroll?
    • Gross Pay and Net (Take-Home) Pay
    • Employee Payroll Withholding Deductions
    • Payroll Register
    • Journalizing Employee Payroll
    • Employer Payroll Taxes
    • Payment of Employer Payroll Taxes and Employees’ Withholdings
    • Internal Control Over Payroll
    • How Are Current Liabilities That Must Be Estimated Accounted For?
    • Bonus Plans
    • Vacation, Health, and Pension Benefits
    • Warranties
    • How Are Contingent Liabilities Accounted For?
    • Remote Contingent Liability
    • Reasonably Possible Contingent Liability
    • Probable Contingent Liability
    • How Do We Use the Times-Interest-Earned Ratio to Evaluate Business Performance?
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 12 LONG-TERM LIABILITIES

    • How Are Long-Term Notes Payable and Mortgages Payable Accounted For?
    • Long-term Notes Payable
    • Mortgages Payable
    • What Are Bonds?
    • Types of Bonds
    • Bond Prices
    • Present Value and Future Value
    • Bond Interest Rates
    • Issuing Bonds Versus Issuing Stock
    • How Are Bonds Payable Accounted For Using the Straight-Line Amortization Method?
    • Issuing Bonds Payable at Face Value
    • Issuing Bonds Payable at a Discount
    • Issuing Bonds Payable at a Premium
    • How Is the Retirement of Bonds Payable Accounted For?
    • Retirement of Bonds at Maturity
    • Retirement of Bonds Before Maturity
    • How Are Liabilities Reported On the Balance Sheet?
    • How Do We Use the Debt to Equity Ratio to Evaluate Business Performance?
    • APPENDIX 12A: The Time Value of Money
    • What Is the Time Value of Money, and How Is Present Value and Future Value Calculated?
    • Time Value of Money Concepts
    • Present Value of a Lump Sum
    • Present Value of an Annuity
    • Present Value of Bonds Payable
    • Future Value of a Lump Sum
    • Future Value of an Annuity
    • APPENDIX 12B: Effective-Interest Method of Amortization
    • How Are Bonds Payable Accounted For Using the Effective-Interest Amortization Method?
    • Effective-Interest Amortization for a Bond Discount
    • Effective-Interest Amortization of a Bond Premium
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 13 STOCKHOLDERS’ EQUITY

    • What Is A Corporation?
    • Characteristics of Corporations
    • Stockholders’ Equity Basics
    • How Is the Issuance of Stock Accounted For?
    • Issuing Common Stock at Par Value
    • Issuing Common Stock at a Premium
    • Issuing No-Par Common Stock
    • Issuing Stated Value Common Stock
    • Issuing Common Stock for Assets Other Than Cash
    • Issuing Preferred Stock
    • How Is Treasury Stock Accounted For?
    • Treasury Stock Basics
    • Purchase of Treasury Stock
    • Sale of Treasury Stock
    • Retirement of Stock
    • How Are Dividends and Stock Splits Accounted For?
    • Cash Dividends
    • Stock Dividends
    • Cash Dividends, Stock Dividends, and Stock Splits Compared
    • How Is the Complete Corporate Income Statement Prepared?
    • Continuing Operations
    • Discontinued Operations
    • Earnings per Share
    • How Is Equity Reported For a Corporation?
    • Statement of Retained Earnings
    • Statement of Stockholders’ Equity
    • How Do We Use Stockholders’ Equity Ratios to Evaluate Business Performance?
    • Earnings per Share
    • Price/Earnings Ratio
    • Rate of Return on Common Stockholders’ Equity
    • Review
    • Assess Your Progress
    • Critical Thinking
    • Comprehensive Problem for Chapters 11, 12, and 13

CHAPTER 14 THE STATEMENT OF CASH FLOWS

    • What Is the Statement of Cash Flows?
    • Purpose of the Statement of Cash Flows
    • Classification of Cash Flows
    • Two Formats for Operating Activities
    • How Is the Statement of Cash Flows Prepared Using the Indirect Method?
    • Cash Flows from Operating Activities
    • Cash Flows from Investing Activities
    • Cash Flows from Financing Activities
    • Net Change in Cash and Cash Balances
    • Non-cash Investing and Financing Activities
    • How Do We Use Free Cash Flow to Evaluate Business Performance?
    • APPENDIX 14A: Preparing the Statement of Cash Flows by the Direct Method
    • How Is the Statement of Cash Flows Prepared Using the Direct Method?
    • Cash Flows from Operating Activities
    • APPENDIX 14B: Preparing the Indirect Statement of Cash Flows Using a Spreadsheet
    • How Is the Statement of Cash Flows Prepared Using the Indirect Method And a Spreadsheet?
    • Review
    • Assess Your Progress
    • Critical Thinking

CHAPTER 15 FINANCIAL STATEMENT ANALYSIS

    • How Are Financial Statements Used to Analyze a Business?
    • Purpose of Analysis
    • Tools of Analysis
    • Corporate Financial Reports
    • How Do We Use Horizontal Analysis to Analyze a Business?
    • Horizontal Analysis of the Income Statement
    • Horizontal Analysis of the Balance Sheet
    • Trend Analysis
    • How Do We Use Vertical Analysis to Analyze a Business?
    • Vertical Analysis of the Income Statement
    • Vertical Analysis of the Balance Sheet
    • Common-Size Statements
    • Benchmarking
    • How Do We Use Ratios to Analyze a Business?
    • Evaluating the Ability to Pay Current Liabilities
    • Evaluating the Ability to Sell Merchandise Inventory and Collect Receivables
    • Evaluating the Ability to Pay Long-term Debt
    • Evaluating Profitability
    • Evaluating Stock as an Investment
    • Red Flags in Financial Statement Analyses
    • Review
    • Assess Your Progress
    • Critical Thinking

Reviews

There are no reviews yet.

Be the first to review “Test Bank for Horngren’s Financial & Managerial Accounting, The Financial Chapters 6th Edition by Tracie”

Additional Information


Resource Type:

Publisher:

Related Test Books

Reviews

Your #1 Online Study Guide Resource

* We don’t share your personal info with anyone. Check out our Privacy Policy for more information