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Apr 25, 2024
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2020-2021 College Catalog_Amended [***ATTENTION: THIS IS AN ARCHIVED CATALOG***]
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ACC 108 - Practical Accounting Procedures 1
Credits: 3
Lab/Lecture: Three lecture.
Offers a step by step approach to the study of accounting for service, merchandising, and small business operations. This course includes analyzing business transactions, recording transactions in the general journal, posting to the general ledger, preparing adjusting and closing entries. Also, this course encompasses the preparation of the income statement, balance sheet, and the statement of owner’s equity through the use of the worksheet. The three business formations (sole proprietor, partnership, and corporation) are discussed along with the issues of accounting for all three forms of ownership.
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