Accounting 2

        This is a two-semester course that includes partnership and corporate accounting, adjustment in inventory control systems, budgetary control systems, and further enhancement of accounting skills. Accounting 1 is a prerequisite.  

Semester 1

Quarter 1

*Part 1: Departmentalized Accounting

  -Recording Departmental Purchases and Cash Payments

    -Using Account Principles and Records

    -Journalizing and Posting Purchases and Purchases Returns

    -Journalizing and Posting Cash Payments

  -Recording Departmental Sales and Cash Receipts

    -Departmental Sales on Account and Sales Returns and Allowances

    -Journalizing and Posting Cash Receipts

  -Calculating and Recording Departmental Payroll Data

    -Completing Payroll Records for Employee Earnings and Deductions

    -Recording a Payroll and Payroll Taxes

  -Financial Reporting for a Departmentalized Business

    -Preparing Financial Information for a Departmentalized Business

    -Responsibility Statements for a Merchandising Business

    -Financial Statements for a Departmental Merchandising Business

    -End-of-Period Work for a Departmentalized Business

  -Reinforcement Activity 1

Quarter 2

*Organic Aisles Simulation

*Part 2: Adjustments and Valuation

  -Inventory Planning and Valuation

    -Determining Merchandise Inventory Quantities

    -Inventory Costing Methods

    -Estimating the Inventory

Quarter 3

  -Accounting for Uncollectible Accounts

    -Direct Write-Off Method of Recording Uncollectible Accounts

    -Allowance Method of Recording Uncollectible Accounts Expense

    -Financial Analysis of Accounts Receivable

  -Accounting for Plant Assets

    -Buying Plant Assets

    -Calculating and Journalizing Depreciation Expense

    -Disposing of Plant Assets

    -Other Methods of Depreciation

  -Accounting for Notes Payable, Prepaid Expenses, and Accrued Expenses

    -Notes Payable

    -Prepaid Expenses

    -Accrued Expenses

  -Accounting for Unearned Revenue, Accrued Revenue, and Installment Notes Receivable

    -Unearned and Accrued Revenue

    -Account for Gift Cards

    -Accounting for Installment Notes Receivable

Quarter 4

*Part 3: Corporation Accounting

  -Organizing a Corporation

    -Starting a Corporation

    -Accounting for Preferred Stock

  -Corporate Dividends and Treasury Stock

    -Calculating and Journalizing Dividends for a Corporation

    -Treasury Stock Transaction

    -Purchasing and Selling Capital Stock of Other Corporations

  -Accounting for Bonds

    -Bonds Payable Transactions

    -Paying Interest on Bonds

    -Effect of Redeeming and Converting Bonds

    -Bond Investments