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Unformatted text preview: Know what accounts go on which statements e.g. expenses on the income statement, dividends on the statement of retained earnings Adjusting entries o Interest Expense o Unearned Revenue o Prepaid Expenses o Supplies Expense o Wage Expense Closing Entries Sales transactions w/ credit terms and subsequent cash collection Bank Reconciliation Bad Debt o Both methods to calculate bad debt expense o Write off entry o NRV Depreciation o Both methods to calculate depreciation expense o Book Value What your fearless leader thinks you should know for the final exam Perpetual and periodic COGS Inventory cost methods o LIFO o FIFO o Average Cost o Concepts of impact on net income Disposal of assets w/ a gain and a loss Goodwill calculation Basket Purchase cost allocation...
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This note was uploaded on 07/02/2011 for the course ACCT 225 taught by Professor Canace during the Spring '08 term at South Carolina.
- Spring '08
- Balance Sheet