Course Description

Elementary theory and principles of elementary accounting applicable to a single-proprietorship business. Practical application of accounting theory to the accounting cycles of service and merchandising businesses: bookkeeping practice; common debit and credit procedure; books of original entry; ledgers, working papers, adjusting and closing entries; income statement, statement of owners' equity, and balance sheet, cash, payroll, special journals. Recommended for business students needing a bookkeeping foundation before enrolling in ACCT C101, and for retailing, sales and merchandising, and office administration majors.