E-Book Overview
Accounting Principles provides students with a clear introduction to fundamental accounting concepts with an emphasis on learning the accounting cycle from a sole proprietor perspective. This product helps students get the most out of their accounting course by making practice simple. Streamlined learning objectives help students use their study time efficiently by creating clear connections between the reading and the homework.
E-Book Content
Accounting Principles Thirteenth Edition
JERRY J. WEYGANDT PhD, CPA University of Wisconsin—Madison Madison, Wisconsin
PAUL D. KIMMEL PhD, CPA University of Wisconsin—Milwaukee Milwaukee, Wisconsin
DONALD E. KIES O PhD, CPA Northern Illinois University DeKalb, Illinois
DEDICATED TO Our wives, Enid, Merlynn, and Donna, for their love, support, and encouragement. DIRECTOR ACQUISITIONS EDITOR LEAD PRODUCT DESIGNER PRODUCT DESIGNER MARKETING MANAGER EDITORIAL SUPERVISOR EDITORIAL ASSOCIATE MARKETING ASSISTANT EDITORIAL ASSISTANT SENIOR CONTENT MANAGER SENIOR PRODUCTION EDITOR SENIOR DESIGNER SENIOR PHOTO EDITOR COVER IMAGE
Michael McDonald Lauren Harrell Krassow Ed Brislin Matt Origoni Carolyn Wells Terry Ann Tatro Margaret Thompson Ashley Migliaro Alyce Pellegrino Dorothy Sinclair Elena Saccaro Wendy Lai Mary Ann Price Kurt Heim/Stocksy
This book was set in Stix Regular by Aptara®, Inc. and printed and bound by Quad Graphics/Versailles. The cover was printed by Quad Graphics/Versailles. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of knowledge and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Our company is built on a foundation of principles that include responsibility to the communities we serve and where we live and work. In 2008, we launched a Corporate Citizenship Initiative, a global effort to address the environmental, social, economic, and ethical challenges we face in our business. Among the issues we are addressing are carbon impact, paper specifications and procurement, ethical conduct within our business and among our vendors, and community and charitable support. For more information, please visit our website: www.wiley.com/go/citizenship. Copyright © 2018 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030-5774, (201)748-6011, fax (201)748-6008, website http://www.wiley.com/ go/permissions. ISBN-13: 978-1-119-41101-7 The inside back cover will contain printing identification and country of origin if omitted from this page. In addition, if the ISBN on the back cover differs from the ISBN on this page, the one on the back cover is correct. Printed in America. 10
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Brief Contents 1
Accounting in Action 1-1
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The Recording Process 2-1
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Adjusting the Accounts 3-1
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Completing the Accounting Cycle 4-1
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Accounting for Merchandising Operations 5-1
5A Accounting for Merchandising Operations (periodic approach)* 6
Inventories 6-1
6A Inventories (perpetual approach)* 7
Accounting Infor