12/22/2023 0 Comments Bookkeeping certification class inct![]() Allocate costs to plant and equipment and differentiate among expenditures.Determine ending inventory valuation (specific identification, weighted-average-cost, FIFO, LIFO perpetual) and determine influence on net income.Demonstrate understanding of basic accrual concepts and corporate procedures.Determine interest, maturity dates of notes payable, discounting of notes payable, adjusting entry for accrued interest, conversion of discount to expense.Determine interest, maturity dates, income of notes receivable, discounting of notes receivable, adjusting entry for accrued interest. ![]() Calculate and analyze depreciation expense (straight-line, DDB, sum of the years, units of production, modified accelerated cost recovery system) and book value of plant assets.Calculate estimated uncollectible accounts, expense using aging, percentage and specific charge-off methods write off and reinstate accounts.Record adjusting, closing, and reversing entries for partnerships and corporations.Prepare worksheets and financial statements for a corporation and partnership.Journalize and post corporation transactions: stock, dividends, retained earnings, income taxes, bonds, and treasury stock.Analyze accounts into debit and credit parts for partnerships and corporations.Define partnerships and corporate accounts and their classifications.Define partnerships and corporation concepts and practices.A continuation of ACTG 101, this course covers notes payable and receivable, valuation of receivables, inventories, plant and equipment, the voucher system, accounting for partnerships and corporations, financial statement analysis, and cash flow statements. ![]()
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