The development of the accounting cycle. Includes payroll, merchandise sales and purchases, cash receipts and payments, worksheet, adjusting and closing entiries, and annual financial statements. MOR 112 Langrell Provides accounting experience on a personal computer. Reinforces the accounting procedures learned in ACCT 110. Students gain experience in reading and analyzing typical source documents and in determining what information to record from those documents.
Students use the computer to enter typical financial transactions.
This class is to be taken after or concurrently with ACCT 120 or equivalent. Emphasis is on fundamental principles of double-entry accounting and the preparation of financial statements in the context of a single proprietorship. No deficiencies in math and reading. A course applying accounting principles and procedures using the microcomputer. No prior computer experience necessary.