Visit the following website for ford motor company

This preview shows page 29 - 31 out of 115 pages.

Visit the following website for Ford Motor Company: When the web page appears, search for Investor Information and then locate the Ford Motor Company Annual Report. Based on your investigation, write a short paper describing the general content of the annual report. Answers to self-test True-False False. Corporation, not trust, is the third form. The accounting for all three of these is covered in this text. The income statement is dated using a period of time, such as “For the Year Ended 2010 December 31”. Multiple-choice
2. Recording business transactions Learning objectives After studying this chapter, you should be able to: Use the account as the basic classifying and storage unit for accounting information. Express the effects of business transactions in terms of debits and credits to different types of accounts. List the steps in the accounting cycle. Record the effects of business transactions in a journal. Post journal entries to the accounts in the ledger. Prepare a trial balance to test the equality of debits and credits in the journalizing and posting process. Analyze and use the financial results—horizontal and vertical analyses. Salary potential of accountants Selecting a major represents much more than the choice of courses a student takes in college. To a significant degree, the student's major, along with academic performance, will determine the career paths available upon graduation. Few professionals would recommend a specific career choice based solely on salaries. However, as students select their major and map out their career path, it is important that they make informed decisions with respect to the potential financial rewards of the various options. Outlined below is information on selected salaries for many accounting-related careers. These salaries, current as of 2009, should be viewed only as guidelines. Salaries at all levels can vary significantly between locations. Also, one should add 10 to 15 per cent to the listed salary for professional certifications (such as the CPA) or for a graduate degree (Masters of Accounting or MBA).

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture