Chap003

Fundamentals of Financial Accounting with Annual Report

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Chapter 03 - Reporting Operating Results on the Income Statement CHAPTER 3 REPORTING OPERATING RESULTS ON THE INCOME STATEMENT Student Learning Objectives and Related Assignment Materials Student Learning Objectives Mini- Exercises Exercises Coached Problems Problems (Groups Skills Development Cases Multi- chapter Material 1. Describe common operating transactions and select appropriate income statement account titles. 8, 19, 20, 21 1, 2, 3, 4, 5, 14 1, 3 A1, A3, B1, B3 1, 2, 3, 4, 5, 6 2. Explain and apply the revenue and matching principles. 1, 2*, 3*, 6, 7, 9, 10, 17, 18 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 13, 14, 15, 21 1, 2, 3 A1, A2, A3, B1, B2, B3 4, 5, 6, 7 CC3† 3. Analyze, record, and summarize the effects of operating transactions, using the accounting equation, journal entries, and T- accounts. 4*, 5*, 6, 7, 11, 12, 13*, 14*, 15, 16, 17, 18 6, 7, 8, 9, 10, 11, 13, 14, 15, 16, 17, 18, 19, 20, 21 1, 2, 3 A1, A2, A3, B1, B2, B3 4, 7 CC3† 4. Prepare an unadjusted trial balance. 20, 21 12, 13, 18, 21 3 A3, B3 6, 7 5. Describe limitations of the income statement. 21 3, 4, 5 * Animated solution included in the PowerPoint Slides. † CC3 is a continuing case that builds on the story of Nicole’s Getaway Spa, introduced in earlier chapters. This case focuses on analyzing transactions and preparing journal entries. This case will be extended in future chapters. Overview The entrepreneur from chapters 1 and 2 opens his doors to customers and completes daily operating transactions. Students learn how to analyze and record operating transactions involving revenues and expenses and distinguish cash basis from accrual basis. 3-1
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Chapter 03 - Reporting Operating Results on the Income Statement Synopsis of Chapter Revisions New Focus Company: Pizza Aroma, Inc. New chapter opener New visual to demonstrate operating cycle transactions New video to support Spotlight on Ethics explaining Computer Associates’ violation of the time period assumption Four new mini-exercises and three new cases One new continuing case PowerPoint Slides Student Learning Objective PowerPoint® Slides 1. Describe common operating transactions and select appropriate income statement account titles. 3-2 through 3-5 2. Explain and apply the revenue and matching principles. 3-6 through 3-9 3. Analyze, record, and summarize the effects of operating transactions, using the accounting equation, journal entries, and T-accounts. 3-10 through 3-20 4. Prepare an unadjusted trial balance. 3-21 through 3-24 5. Describe limitations of the income statement. 3-25 through 3-26 Animated Builds and Animated Solutions PowerPoint® Slides Exhibit 3.7 – The Expanded Debit/Credit Framework 3-11 Mini-Exercise 3-2 3-28 Mini-Exercise 3-3 3-29 Mini-Exercise 3-4 3-30 Mini-Exercise 3-5 3-31 Mini-Exercise 3-13 3-32 through 3-33 Mini-Exercise 3-14 3-34 through 3-35 3-2
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Chapter 03 - Reporting Operating Results on the Income Statement Summary of Related Video Program Spotlight Video Series
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Chap003 - Chapter 03 Reporting Operating Results on the...

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