INB 230 9/17
CH. 4 NOTES
-Transactions are initially recorded in a journal, then posted to individual accounts in a
ledger. Accounts are used to organize transactions to facilitate financial statement
Flow of Accounting Data:
TODAY: Ch. 7, Project updates, quiz
Going over ch. 6 homeworkremember your formula for COGS, accumulated depreciation, etc.
Ch. 7: Accounting for and Presentation of Liabilities
probable future sacrice of economic benets
accrued expenses is
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, \)Q.k Cc-sh 6,ar^ 0A
Asssts = LiALbi\idrieJ + $ulyler'S Eqr\
I oud +'D
I Cxrrevlt- ot I or^rd +D
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INB 230 10/8
TODAY: Finish Ch. 5, Company Minute for Chipotle"
Cost ows done on different basis than physical ow."
Two steps for bad accountsestimating the allowance, then writing it in the books"
Beg. Inventory + Purchases = COGAS = COGS + E
INB 230 10/6
WORLD NEWS! Ebola, ISIS, Hong Kong."
Ch. 5 continued"
Bank Reconciliation: Figuring out the reasons behind differences between bank statements and
cash accounts in order to keep the books in check. "
Going off of PowerPoint:"
BANK" 9,610" "
Chipotle Mexican Grill, Inc.
Fast-Casual restaurant establishment
Order in person, online, by fax, or mobile
What we Serve
Burritos, fajitas, tacos, quesadillas,
Customizable with a variety of meats,
The following information was obtained from the records of Shae, Inc.:
Notes payable (long-term)
Buildings and equipment
Selling, general, and administrative expenses
Insert Name Here Corp.
For the Year Ended December 31, 2008
Cost of Goods Sold
Property Tax Expense
Total Operating Ex
See the problem in the book and solutions below.
Use the accounting equation to solve for the missing information:
L + PIC + ( Beg. RE + NI - DIV = End. RE)
$420,000 = $215,000 + $75,000 + ( $78,000 + ? - $50,000 =
In this case, the
INB 230 9/15
LO 10-1 Discuss the significance of corporate governance.
Governance is the set of rules and regulations that corporations must follow in
order to comply with federal laws. At the core of the governance concept are issues of
INB 230 9/10
THIS CLASS: Excel sheet was due today. Chs. 2+10, go over HW, form groups for
company project, quiz at end of class.
NEXT CLASS: Ch. 10HW, Chs. 10+4, select company for project, word of day: Proxy
Excel assignmentgo over importan
INB 230 9/22
TODAY: Ch. 4, in-class activity
WEDNESDAY: Do some research on Coca-Cola, group 1 is presenting their company
minute. Also, REVIEW FOR EXAM 1. We will be identifying accounts and where they
live, and we will be making the income statement/s
INB 230 10/1
TODAY: Review exam, company minute #2, Ch. 5"
For Monday: Look up some world news. HW for Ch. 5 has been MOVED to Wednesday."
Company Minute 2: Amazon"
Ch. 5 Current Assets"