Contents Chapter 1 Accounting: Information for Decision Making P 1 OverviewP1 Do you knowP1 1.1 What is Accounting P1 1.2 Role of Accounting in Business P1 SummaryP16 Assess Your ProgressP17 Chapter 2 Accounting Equation P 6 OverviewP6 Do you knowP6 2.1 Previewing Financial Statements P6 2.2 Accounting Equation P10 2.3 Use The Accounting Equation To Analyze Transactions P10 SummaryP12 Assess Your ProgressP13 Chapter 3 Analyzing and Recording Transaction P 22 OverviewP22 Do you knowP22 3.1 The Account P22 3.2 Double-Entry Accounting P24 3.3 The T-Account P25 3.4 Increase and Decrease in the Accounts P26 3.5 Flow of Accounting Data P27 3.6 Source Documents P28 3.7 The Journal Entry P29 3.8 Posting Journal Entries to Ledger P30 3.9 Trial Balance P32 SummaryP33 Assess Your ProgressP33 Chapter 4 Measuring Business Income: The Adjusting Process P 48 OverviewP48 Do you knowP48 4.1 Purpose of AdjustingP48 4.2 Identify the types of adjustments P49 4.3 Supplies used P49 4.4 Depreciation P50 4.5 Unearned Revenues P51 4.6 Accrued Expenses P52 4.7 Accrued Revenues P52 4.8 Adjusted Trial Balance P54 SummaryP55 Assess Your ProgressP55 Chapter 5 Completing Accounting Cycle P 63 OverviewP63 Do you knowP63 5.1 Work sheetP63 5.2 Closing Process P49 5.3 Identify accounts for closing P49 5.4 Closing Entries P50 5.5 Post-Closing Trial Balance P51 5.6 Reviewing the Accounting Cycle P52 SummaryP70 Assess Your ProgressP70