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Chapter 5-4

Accounting for Merchandising Operations. Completing the Accounting Cycle Adjusting entries Closing entries Summary of merchandising entries. Recording Purchases of Merchandise Freight costs Purchase returns and allowances Purchase discounts. Recording

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Chapter 5-4

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  1. Accounting for Merchandising Operations Completing the Accounting Cycle Adjusting entries Closing entries Summary of merchandising entries Recording Purchases of Merchandise Freight costs Purchase returns and allowances Purchase discounts Recording Sales of Merchandise Sales returns and allowances Sales discounts Forms of Financial Statements Multiple-step income statement Single-step income statement Merchandising Operations Operating cycles Inventory systems— perpetual and periodic Classified balance sheet Determining cost of goods sold under a periodic system Summary of purchasing transactions Chapter 5-4

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