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ACCOUNTING 1080 acct

  • School:
    Macomb Community College
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  • Professor:
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    callaghan, Edwards, William Callaghan, BrianNewman, glass

  • Average Course Rating (from 2 Students)

    3.5/5
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    Always Do the Reading

    Math-heavy

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  • 57 pages chapter 4
    • chapter 4
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • PREVIEW OF CHAPTER 4 1 Income Statement Usefulness Evaluate past performance. 2 Predicting future performance. Help assess the risk or uncertainty of achieving future cash flows. LO 1 Understand the uses and limitations of an income statement. Income Stat
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    chapter 4

  • 62 pages chapter 3- int acct.
    • chapter 3- int acct.
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • PREVIEW OF CHAPTER 1 3 Accounting Information System Accounting information system Collects and processes transaction data. Disseminates 2 the financial information to interested parties. LO 1 Understand basic accounting terminology. The Accounting Cycle
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    chapter 3- int acct.

  • 57 pages chapter 5
    • chapter 5
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • PREVIEW OF CHAPTER 5 1 Balance Sheet Balance Sheet, sometimes referred to as the statement of financial position: 1. Reports assets, liabilities, and equity at a specific date. 2. Provides information about resources, obligations to creditors, and equity
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    chapter 5

  • 57 pages chapter 6
    • chapter 6
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • PREVIEW OF CHAPTER 6 1 Basic Time Value Concepts Time Value of Money A relationship between time and money. A dollar received today is worth more than a dollar promised at some time in the future. When deciding among investment or borrowing alternatives,
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    chapter 6

  • 6 pages Ch 5 E
    • Ch 5 E
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • General Journal GENERAL JOURNAL Date 1a b 2a b Account Titles and Explanation Merchandise inventory Accounts payable Purchased merchandise on credit, terms 3/10, n/60 Debit 24,000 Accounts payable Merchandise inventory Cash Paid for the $24,000 purchase l
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    Ch 5 E

  • 6 pages Ch 4 e
    • Ch 4 e
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Name Worksheet Westcott Company Work Sheet For year ended December 31, 2015 Unadjusted Trial Balance Account Titles Cash Accounts receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries Payable Unearned re
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    Ch 4 e

  • 18 pages Ch 3 E
    • Ch 3 E
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Name General Journal GENERAL JOURNAL Date 30-Apr 12-May Account Titles and Explanation P. R. Debit Legal Expense Accrued Legal expenses Payment Accrued Legal Expenses Cash 3,500 Intrest Expense Accrued Interest Payable 3,000 Credit 3,500 3,500 3,500 30-Ap
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    Ch 3 E

  • 4 pages Chpt 4_PP_Bouren
    • Chpt 4_PP_Bouren
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Below is an incomplete year-end worksheet which you will have to complete 1 Make the necessary adjustments, given the information items a through g. 2 Once the worksheet is completed make the gen. journal closing entries. Trial Balance -Adjustments-Adjust
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    Chpt 4_PP_Bouren

  • 18 pages Ch 3 E (Autosaved)
    • Ch 3 E (Autosaved)
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Name General Journal GENERAL JOURNAL Date 30-Apr 12-May Account Titles and Explanation P. R. Debit Legal Expense Accrued Legal expenses Payment Accrued Legal Expenses Cash 3,500 Intrest Expense Accrued Interest Payable 3,000 Credit 3,500 3,500 3,500 30-Ap
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    Ch 3 E (Autosaved)

  • 24 pages E. Ernst
    • E. Ernst
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Name Miranda Bouren Income Statement Ernst Consulting Income Statement For Month Ended October 31 Revenues: Consulting Fees Earned Expenses: Rent Expense Salaries Expense Telephone Expense Misc. Expenses Total Expenses Net Income $14,000 $3,550 $7,000 $76
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    E. Ernst

  • 13 pages Ch 4 prob
    • Ch 4 prob
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Worksheet Ace Construction Co. For June 30, 2015 Unadjusted Trial Balance No. Account Titles 101 Cash 126 Supplies 128 Prepaid Insurance 167 equipment 168 Accumulated Depreciation - Equipment 201 Accounts payable 203 Interest Payable 208 Rent payable 210
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    Ch 4 prob

  • 30 pages Book2
    • Book2
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Name General Journal GENERAL JOURNAL Problem a. b. Account Titles and Explanation Office Supplies Expense Office Supplies To record adjustment for office supplies Insurance Expense Prepaid Insurance To record adjustment for insurance Policy A 14,400/24*3
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    Book2

  • 7 pages ACCT 1080 V0850 Fall 2016 online first day handout 11e (1) (2) (2)

    ACCT 1080 V0850 Fall 2016 online first day handout 11e (1) (2) (2)

  • 1 pages Ch 4 hw q
    • Ch 4 hw q
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Chapter 4 homework 1:Howistheworksheetuseful? This worksheet is useful because it allows you to see most of the information needed for financial statements in one place. It makes it easier to spot errors and to draw conclusions. It makes it easier to crea
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    Ch 4 hw q

  • 1 pages Chapter 4 Computer Assignment
    • Chapter 4 Computer Assignment
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Chapter 4 Computer Assignment 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 93.53 Balance Sheet 7763.27 292.45 Expense and Vendor Advertisements 2525 and 75.00 Office Supplies to Accounts Payable 60,000 Expense to Payable
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    Chapter 4 Computer Assignment

  • 1 pages Patel-Chapter1Questions
    • Patel-Chapter1Questions
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • 1a:WhatdoesCFOstandfor? ChiefFinancialOfficer 1b:WhatdoesGAAPstandfor? GenerallyAcceptedAccountingPrinciples 2: Identify&Explainthese: a. 4LargestCPAFirms ThelargestaccountingfirmsareErnst&Young,KPMG,PricewaterhouseCoopers,andDeloitte. b.LLC Alimitedliabi
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    Patel-Chapter1Questions

  • 3 pages Veshka_chapt1_ex
    • Veshka_chapt1_ex
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Name:Megan Veshka Ernst Consulting Income Statement For Month Ending October 31 Revenues Consulting Rental Total $14,000 0 14000 Rent Salaries Telephone Misc. Total 3550 7000 760 580 11890 Expenses Net Income 2110 Ernst Consulting Statement of Owner's Equ
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    Veshka_chapt1_ex

  • 1 pages accounting week 2-1
    • accounting week 2-1
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • identify and explain: 1. Debit Debit means left side of an account b, Credit Credit means right side of an account 1. Chart of Accounts A list of all ledger accounts and includes the identification number assigned to each account. 2 What's a Journal? Give
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    accounting week 2-1

  • 1 pages accounting week 2 (1)
    • accounting week 2 (1)
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • dentify and explain: 1. Debit For an account where a debit is an increase, the credit is a decrease. b, Credit For an account where debit is a decrease, the credit is an increase. 1. Chart of Accounts A list of all ledger accounts and includes the identif
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    accounting week 2 (1)

  • 6 pages week three accounting exercises
    • week three accounting exercises
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Name Jillian Sulek General Journal Adjusted Journal Entry Date 1-Apr 12-May 30-Apr 20-May 30-Apr 3-May Account Titles and Explanation Adjusting Entry Legal Expense Accrued legal expense P. R. Debit Credit 3,500 3,500 Payment Accrued Legal expense Cash 3,5
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    week three accounting exercises

  • 5 pages Week accouting 22
    • Week accouting 22
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Column1 Column2 Payments on Account Column3 Column4 Column5 Column6 Accounts Payable 300,500 Beginning Balance Purchases on account Ending Balance Column1 Column2 Beginning Balance Sales on Account Ending balance Column3 Column4 Column5 Accounts Recievabl
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    Week accouting 22

  • 1 pages FIXING DINNER
    • FIXING DINNER
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • FIXING DINNER When Im fixing dinner, I combine it with a lot of things. First I go the grocery store and shop for all my weekly ingredients, come home and sort them all out. After doing all that, I just start the stove up and starting preparing dinner. I
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    FIXING DINNER

  • 3 pages Veshka_chapt2_prob6A
    • Veshka_chapt2_prob6A
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Min Engineering Trial Balance 31-May Debit Credit Cash $37,641 Office Supplies 890 Prepaid Insurance 4,600 Office Equipment 12,900 Accounts Payable 12,900 Y. Min, Capital 18,000 Y. Min, Withdrawals 3,329 Engineering Fees Earned 36,000 Rent Expense 7,540 T
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    Veshka_chapt2_prob6A

  • 13 pages Veshka_chapt3_ex
    • Veshka_chapt3_ex
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Date April 30. Account Title and Explanation Attorney Expense Accounts Payable Dr. Cr. 3,500 3,500 Company retained an Attorney for a monthly fee Date May 12. Account Title and Explanation Accounts Payable Cash Paid for April's Attorney Expense Dr. Cr. 3,
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    Veshka_chapt3_ex

  • 7 pages Veshka_chapt6_Problems
    • Veshka_chapt6_Problems
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Date Jan. 1 Beginning Inventory Feb. 10 Purchase Mar. 13 Purchase Aug. 21 Purchase Sept. 5 Purchase Total Goods Available for Sale Units Acquired at Cost Units Sold at Retail Units in Ending Inventory Units 1,800 1,400 <-2 400 Unit Cost Cost 600 $45 $27,0
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    Veshka_chapt6_Problems

  • 8 pages Veshka_chapt6_ex
    • Veshka_chapt6_ex
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Date Jan. 1 Jan. 10 Jan. 20 Goods Purchased Beginning Balance Cost of Goods Sold 100 @ $6 = 60 @ $ 5 = $ 300 Jan. 25 Jan. 30 25 @ $6 55 @ $5 180@$ 4.50= $ 810 $ $ 140 @ $6 600 40 @ $6 40 @ $6 60 @ $ 5 1,200 15 @ $ 6 275 $ 1,475 5 @ $5 15 @ $ 6 5 @ $5 $ $
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    Veshka_chapt6_ex

  • 6 pages Veshka_chapt4_ex
    • Veshka_chapt4_ex
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Cash Accounts receivable Supplies Prepaid Insurance Equipment Accum. Depreciation, Equip. Accounts Payable Salary Payable Unearned Revenue W. Westcott, Capital W. Westcott, Withdrawals Revenue Depreciation Expense Supplies Exp. Salary Expense Utilities Ex
    • Register Now

    Veshka_chapt4_ex

  • 5 pages Veshka_chapt5_ex
    • Veshka_chapt5_ex
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Merchandise Inventory Accounts Payable 24,000 24,000 <-1(a) Purchased merchandise on credit, terms 3/10, n/60 Accounts Payable Merchandise Inventory Cash 24,000 720 23,280 <-1(b) Paid for the $24,000 purchase, less the discount of $720 (3%X$24,000) Accoun
    • Register Now

    Veshka_chapt5_ex

  • 5 pages Veshka_chapt5_Problems
    • Veshka_chapt5_Problems
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Aug 1. Merchandise Inventory Accounts Payable-Arotek 7,500 7,500 To record credit purchase, terms 1/10, n30 Aug 5. Accounts Receivable Sales 5,200 5,200 Sold merchandise on credit terms 2/10 n60 Aug 5. Cost of Goods Sold Merchandise Inventory 4,000 4,000
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    Veshka_chapt5_Problems

  • 7 pages Veshka_chapt4_Problems
    • Veshka_chapt4_Problems
    • Macomb Community College
    • acct
    • ACCOUNTING 1080 - Fall 2016
    • Cash Supplies Prepaid Insurance Equipment Accum. Depreciation, Equip. Accounts Payable Interest Payable Rent Payable Wages Payable Property Taxes Payable Long Term Notes Payable V. Ace, Capital V. Ace, Withdrawals Construction Fees Earned Depreciation Exp
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    Veshka_chapt4_Problems

acct Questions & Answers

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    • Profile picture
    Jun 26, 2017
    | No strong feelings either way.

    This class was tough.

    Course Overview:

    Don't take it accelerated. Do your homework. Read the chapters. Use the online resources

    Course highlights:

    I learned what it's like to actually have to read a textbook. Also, I have never prepared more for a class more than I felt I had to with this class. I found it hard to ask questions because I felt dumb whenever I did

    Hours per week:

    6-8 hours

    Advice for students:

    Do the work. The online work really helped me learn the material. Be prepared for class, you never know when you'll have a pop quiz or when she'll collect homework

    • Spring 2016
    • glass
    • Yes
    • Math-heavy Always Do the Reading Group Projects
    • Profile picture
    Feb 07, 2017
    | Would recommend.

    Not too easy. Not too difficult.

    Course Overview:

    I would recommend taking this course with Professor Callaghan. However, make sure classes that are being taken with this class are light on the work load whereas this course has a lot of work and it is time consuming!

    Course highlights:

    The highlights are being able to learn the basis of accounting through the excedieses and course work given.

    Hours per week:

    12+ hours

    Advice for students:

    Be prepared to work in excel and read.

    • Winter 2017
    • William Callaghan
    • Yes
    • Math-heavy Always Do the Reading Many Small Assignments
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