Index
454
gross profit margin, 184
inventory, 171–173
multistep income statement, 185–188
periodic inventory system, 205–210
money, borrowing, 14–16
multistep income statement
classified, 187
periodic inventory system, 214–215
perpetual inventory system, 185–188
.
See also
income statement
mutual agency, 61
N
nature, of expenses, 185
net book value, 117
net income, defined, 28
net loss, defined, 28
net pay, 325
net profit margin, 368–369
net realizable value (NRV), 235–236
net worth, defined, 3
net worth vs. equity, 29
neutrality, 65
non-sufficient funds (NSF), 297–299
not-for-profit organizations, 63
O
office supplies, 115–116
operating activities, cash from, 376
operations management analysis, 371–372
other comprehensive income, 355
outstanding cheques, 301–302
outstanding deposits, 299–300
owner’s capital account, 30
owner’s contribution, 29
owner’s drawings, 30
owner’s equity, 29, 49–50, 137–138
owner’s withdrawals, 29–30
P
partner’s equity, 29
partnership, organizational form, 60–61
payroll accounting
controls, 338
CPP calculation, 343–344
employer contributions, 329–330
example, 330–334
gross pay, 326–327
overview, 325–326
records, 337–338
register, 335–338
statutory deductions, 327–329
voluntary deductions, 329
periodic inventory system
closing entries, 216–217
cost of goods sold, 211–214
inventory valuation, 249–253
multistep income statement, 214–215
overview, 205
perpetual inventory vs., 173–174
purchases, 206–208
sales, 209–210
special journals, 281–282
perpetual inventory system
closing entries, 188–190
multistep income statement, 185–188
periodic inventory vs., 173–174
purchases, 175–181
sales, 181–183
petty cash
controls, 314–315
overview, 309–310
posting to general ledger, 311–313
setting up fund, 310–311
physical inventory method, 232
plant, business account, 27
post-closing trial balance, 149–150
prepaid expenses, 17–19, 114–116
prepaid rent, 114–115
principles and assumptions, 66–69
principles-based accounting, 64
private enterprise, 59
pro forma
financial statements, 237
profitability analysis, 366–370
