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ACC 100 - Applied Accounting
This course provides students with an understanding of the accounting cycle for service and merchandising firms. In addition students reconcile bank accounts and maintain a manual payroll system; This course is intended for students in most career business curricula. This course is generally not transferable
Upon satisfactory completion of this course students should be able to:
- Record respresentative journal entries post them to the general ledger foot and balance the accounts prepare a trial balance and complete a work sheet, financial statements and the remainder of the accounting cycle for a single proprietorship.
- Record representative business transactions for a merchandising business utilizing the appropriate special journals
- Prepare all documents necessary for the maintenance of a checking account and prepare a bank reconciliation
- Maintain and reconcile accounts receivalbe and accounts payable ledgers with appropriate control accounts.
- Compute and record adjustments for plant assets, prepaid expenses, merchandise inventory and accrued expenses.
- Maintian a payroll system.
Prequisites: Satisfactory score on the English, Math and Reading placement tests or successful completion of Developmental English (ENG 50) Developmental Reading and Study Skills (REA 050) and Basic Mathematics (MAT 040). Corequisite: Business Mathematics (MATH 105)
3 hours each week 3 credits