Catalog Course Description:

Bookkeeping practices for a sole proprietorship.  Debit and credit practice, books of original entry, ledgers, working papers, adjusting and closing entries, income statement, balance sheets, and statement of owner’s equity, cash, payroll, special journals, merchandising firms.  3 hours lecture, 1 hour laboratory.

Course Objectives:    

Upon completion of this course, the student should be able to:

1.         solve and apply the fundamental accounting equation and its logical bookkeeping applications to an accounting system of a sole proprietorship;
2.         describe basic accounting theory and practice as it relates to a sole proprietorship;
3.         perform routine bookkeeping duties;
4.         critically assess business ethics dilemmas typical for an accounting position within a small business;
5.         summarize stages of the accounting cycle;
6.         discuss specifics of bank accounts and cash funds;
7.         differentiate among various special journals;
8.         prepare, relate, and analyze financial statements for a sole proprietorship;
9.         perform basic payroll accounting and distinguish between employee earnings, deductions and taxes.

Textbook Information   

College Accounting (shrink wrapped package of Text and Connect Plus code), Ch. 1-13, Price, Haddock, Farina, McGraw-Hill, 13^th edition, ISBN 9780077883324 (this particular ISBN is customized for Chabot College and is only available at Chabot bookstore).

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Grading Policy 

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