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Sound Bytes Electronics, 2nd Edition

By Carol Smith, Harvey Freedman
Instructional Resources
Digital teaching aids may be available for this title. All instructor requests are reviewed by our team before the files are made accessible.
72 pages
ISBN-10: 0176641807
ISBN-13: 9780176641801
Publisher: Top Hat
Edition: 2nd

Sound Bytes Electronics will help students gain an overall understanding of how accounting information is recorded in journals and transferred between journals, ledgers, sub-ledgers and inventory records, and then used in financial statement preparation to help managers in making decisions for the future. The Practice Set will take the student through a one month accounting cycle and the student will fill the role of the accountant for the Proprietorship. The set will take 6-10 hours to complete and will include all source documents such as invoices, cheques, sales receipts, etc. The student processes the transactions, completes the worksheets, journal entries, special journals, and prepares a trial balance and the financial statements for the first quarter. This is a manual practice set that can be converted to a computerized set through the instructions provided for Simply Accounting.

Table of Contents

  • Introduction
  • Company Background
  • Description of Sound Bytes Electronics Information
  • Ratios
  • Trial Balance as of March 31, 2018
  • Schedules of Accounts Receivable and Accounts Payable
  • Schedule of Merchandise Inventory Items
  • Capital Assets Note
  • Worksheet for 3 months ending March 31, 2018
  • Financial statements for period ending March 31, 2018
  • Bank Loan Schedule
  • Requirements
  • Transactions (source documents received or given during April)
  • Adjustment Information
  • List of Journal Forms Provided
  • List of Additional Accounting Forms Provided
  • Special Journals Decision Tree
  • Special Journals
  • Purchase Journal
  • Cash Disbursements Journal
  • Sales Journal
  • Cash Receipts Journal
  • General Journal
  • Chart of General Ledger Accounts
  • Complete General Ledger
  • Accounts Receivable?Customers
  • Accounts Payable?Suppliers
  • Perpetual Inventory Subledger
  • Blank Worksheet
  • Blank form for Income Statement
  • Blank form for Statement of Changes in Owner?s Equity
  • Blank form for Balance Sheet
  • Blank form for Accounts Receivable and Payable Subledger Balances
  • Blank form for Schedule of Inventory Items
  • Blank form for Ratio Analysis
  • Appendix A: Sage Simply Accounting?, Income Statement
  • Appendix B: Bank Reconciliation Form
  • Appendix C: Bank Statement
  • Appendix D: Harmonized Sales Taxes (HST/GST) and Provincial Sales Tax
  • Appendix E: Information on Moving Average Cost of Inventory

Author Information

Harvey Freedman

Harvey Freedman, CPA, CGA, is a retired professor of accounting from Humber College, where he taught for over 25 years. He was actively involved in curriculum development at the college. His work on accounting case studies earned him the 1994-95 Innovator of the Year Award. Harvey has been the lead author of Learning Sage 50 Accounting (Learning Simply Accounting) from 2005 through 2014 and previously authored eight editions with Norbry.