ACC 221 1st Edition Lecture 12 Outline of Previous Lecture Chapter 10 Dividends What can you do with your money o Options o Dividends o Dividends Process o Retained Earnings Outline of Current Lecture Chapter Reviews The Accounting Cycle Accounting Cycle Process All accounts in Cycle o P Permanent Accounts T Temporary Accounts Current Lecture Chapter Reviews The Accounting Cycle Accounting Cycle Process o o o o o o o o o General journal General ledger Adjusting Entries Journal Adjusting Entries Ledger Pre closing trial balance Income Statement Statement of stockholder equity getting final retained earnings closing temps Balance Sheet Post closing trial balance All accounts in cycle o P Permenant Accounts T Temporary Accounts Assets Cash P accounts receivable P supplies P equipment P accumulated depreciation P Liabilities These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Accounts payable P wages payable P interest payable P unearned revenue P dividends payable P and note payable P Equity Common stock P retained earnings P Revenues Service Revenue T Expenses Supplies expense T mower repair expense T wages expense T truck rental expense T depreciation expense T interest expense T
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