Principles of accounting

NINETEENT H EDITIO N

PRINCIPLE S O F

ACCOUNTIN G

m m John J. Wild

Ken W. Shaw

Barbara Chiappetta

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

flQ Principle s o f

17th Accounting

edition

No.f

Joh n J. Wil d

University of Wisconsin at Madison

Ken W. Shaw

University of Missouri at Columbia

Barbara Chiappetta

Nassau Community College

Boston Burr Ridge, IL Dubuque, IA New York

San Francisco St. Louis Bangkok Bogota Caracas Kuala Lumpur

Lisbon London Madrid Mexico City Milan Montreal New Delhi

Santiago Seoul Singapore Sydney Taipei Toronto

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

Mc

Graw

FUNDAMENTA Hill L ACCOUNTING PRINCIPLES

Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas,

New York, NY, 10020. Copyright © 2009, 2007, 2005, 2002, 1999, 1996, 1993, 1990, 1987. 1984, 1981. 1978. 1975,

1972, 1969, 1966, 1963, 1959, 1955 by The McGraw-Hill Companies, Inc.

Principles of Accounting 19e is published by arrangement with The McGraw-Hill Companies. Inc.

All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means, or stored

in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies. Inc.. including, but

not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning.

Some ancillaries, including electronic and print components, may not be available to customers outside the United States.

23456789 10 CTP MPM 20 11 10 09

When ordering this title, use ISBN 978-007-128283-3 or MHID 007-128283-1

Printed in Singapore

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

# 1 wit h Customer s ^

Principles of Accounting rates # l in Instructor and Student satisfaction over the prior three

editions, and we are now proud to report that both independent research and develop￾ment reviews show that Principles of Accounting is now # l in customer loyalty!

# l CUSTOMER LOYALTY

# l in Accuracy

# I in Topic Coverage

# l in Readability

# l in Assignments

# l in Supplements

# I in Organization

# I in Overall Textbook Satisfaction

With ratings such as these, it is no surprise that Principles of Accounting is the fastest grow￾ing textbook in the accounting principles market.Take a look at what instructors are

saying about Principles of Accounting.

/Ken" son County Community College

There is nothing about this text that I do not like. We have been using it since I starred

teaching the course in 1971. We switched texts three times, but always went back to this

^one and I do not think we will try anything else."

Linda Rose.Westwood College

"Very thorough, readable, and graphically pleasant! Engages students in

a variety of activities that create learning opportunities and [...link] mate'

rials to real-work scenarios and situations. End-of-chapter materials are

engaging learning tools and broaden the learner's opportunity to practice

and enhance retention of the chapter content."

Shafi Ullah, Broward CC

"The book contains detailed information

with alternative exercises, problems, and

peases with 'Beyond the Numbers'."

Phillip

ria Worthy, Southwest Tennessee CC N

"This is a very good text and it is also

good for our students because it addresses a

^variety of learning styles"

Lee, Nashville State Tech CC

The Wild text packs more useful material into fewer

. pages than other principles of accounting textbooks." .

V J

Marilyn Cilolino, Delgado CC

"I have always been a big fan of this book and praise it

every chance I get. The authors are great people and are

really concerned with their product. They listened to the

instructors and take our comments and suggestions seri￾ously. And they are always ready to help or answer any

Questions one might have."

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

John J. Wild is a distinguished professor of accounting at the University of Wisconsin at Madison. He previously held

appointments at Michigan State University and the University of Manchester in England. He received his BBA, MS, and

PhD from the University of Wisconsin.

Professor Wild teaches accounting courses at both the undergraduate and graduate levels. He has received numerous

teaching honors, including the Mabel W. Chipman Excellence-in-Teaching Award, the departmental Excellence-in-Teaching

Award, and the Teaching Excellence Award from the 2003 and 2005 business graduates at the University of Wisconsin. He

also received the Beta Alpha Psi and Roland F. Salmonson Excellence-in-Teaching Award from Michigan State University.

Professor Wild has received several research honors and is a past KPMG Peat Marwick National Fellow and is a recipient

of fellowships from the American Accounting Association and the Ernst and Young Foundation.

Professor Wild is an active member of the American Accounting Association and its sections. He has served on several

committees of these organizations, including the Outstanding Accounting Educator A ward.Wild man Award, National

Program Advisory, Publications, and Research Committees. Professor Wild is author of Financial Accounting, Managerial

Accounting, and College Accounting, each published by McGraw-Hill/Irwin. His research articles on accounting and analysis

appear in The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Contemporary

Accounting Research, Journal of Accounting, Auditing and Finance, Journal of Accounting and Public Policy, and other

journals. He is past associate editor of Contemporary Accounting Research and has served on several editorial boards

including The Accounting Review.

Professor Wild, his wife, and four children enjoy travel, music, sports, and community activities.

Ken W. Shaw is an associate professor of accounting and the CBIZ/MHM Scholar at the University of Missouri. He

previously was on the faculty at the University of Maryland at College Park. He received an accounting degree from

Bradley University and an MBA and PhD from the University of Wisconsin. He is a Certified Public Accountant with

work experience in public accounting.

Professor Shaw teaches financial accounting at the undergraduate and graduate levels. He received the Wiliams Keepers

LLC Teaching Excellence award in 2007, was voted the "Most Influential Professor" by the 2005 and 2006 School of

Accountancy graduating classes, and is a two-time recipient of the O'Brien Excellence in Teaching Award. He is the

advisor to his School's chapter of Beta Alpha Psi, a national accounting fraternity.

Professor Shaw is an active member of the American Accounting Association and its sections. He has served on many

committees of these organizations and presented his research papers at national and regional meetings. Professor Shaw's

research appears in the Journal of Accounting Research; Contemporary Accounting Research; Journal of Financial and

Quantitative Analysis; Journal of the American Taxation Association; Journal of Accounting, Auditing, and Finance; Journal of

Financial Research; Research in Accounting Regulation; and other journals. He has served on the editorial boards of Issues

in Accounting Education and the Journal of Business Research, and is treasurer of the American Accounting Association's

FARS. Professor Shaw is co-author of Financial and Managerial Accounting and College Accounting, both published by

McGraw-Hill.

In his leisure time. Professor Shaw enjoys tennis, cycling, music, and coaching his children's sports teams.

Barbara Chiappetta received her BBA in Accountancy and MS in Education from Hofstra University and is a

tenured full professor at Nassau Community College. For the past two decades, she has been an active executive board

member of the Teachers of Accounting at Two-Year Colleges (TACTYC). serving 10 years as vice president and as

president from 1993 through 1999. As an active member of the American Accounting Association, she has served

on the Northeast Regional Steering Committee, chaired the Curriculum Revision Committee of the Two-Year Section,

and participated in numerous national committees.

Professor Chiappetta has been inducted into the American Accounting Association Hall of Fame for the Northeast

Region. She had also received the Nassau Community College dean of instruction's Faculty Distinguished Achievement

Award. Professor Chiappetta was honored with the State University of New York Chancellor's Award for Teaching

Excellence in 1997. As a confirmed believer in the benefits of the active learning pedagogy. Professor Chiappetta has

authored Student Learning Tools, an active learning workbook for a first-year accounting course, published by McGraw-Hill/

Irwin.

In her leisure time. Professor Chiappetta enjoys tennis and participates on a U.S.T.A. team. She also enjoys the challenge

of bridge. Her husband. Robert, is an entrepreneur in the leisure sport industry. She has two sons—Michael, a lawyer,

specializing in intellectual property law in New York, and David, a composer, pursuing a career in music for film in Los

Angeles.

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

Helpin g student s

achiev e thei r goal !

Principles of Accounting 19e

Assist your students in achieving their goals by giving them what they need to

succeed in today's accounting principles course.

Whether the goal is to become an accountant or a businessperson, or

even just gain an understanding of the principles of accounting, Principles of

Accounting (POA) has helped generations of students succeed by

giving them the support in the form of leading-edge accounting content that

engages students, with state-of-the-art technology.

With POA on your team, you'll be passed engaging content and a

motivating style to help students see the relevance of accounting. Students

are motivated when reading materials that are clear and relevant. POA runs

ahead of the field in engaging students. Its chapter-opening vignettes showcase

dynamic, successful entrepreneurial individuals and companies guaranteed to

interest and excite students.This edition's featured companies-Best Buy,

Circuit City, RadioShack, and Apple-engage students with their annual reports,

which are a pathway for learning financial statements. Further, this book's

coverage of the accounting cycle fundamentals is widely praised for its clarity

and effectiveness.

POA also delivers innovative technology to help students succeed.

Homework Manager provides students with instant grading and feedback

for assignments that are completed online. Our algorithmic test bank in

Homework Manager offers infinite variations of numerical test bank

questions. POA also offers students portable iPod-ready content to help

students study and raise their scores.

We're confident you'll agree that POA will help your students achieve

their goal.

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

Engaging Conten t

POA content continues to set the standard in the principles course.Take a look at Chapters 1,2 and 3 and

you'll see how POA leads with the best coverage of the accounting cycle. We are the first book to cover

equity transactions the way most instructors teach it and students learn it—by introducing the separate

equity accounts upfront and not waiting until a chapter or two later. Chapter 2 has the time-tested 4-step

approach to analyzing transactions: [ I ] Identify, [2] Analyze, [3] Record, and [4] Post And Chapter 3 offers

a new 3-step process to simplify adjusting accounts. POA also motivates students with engaging chapter

openers. Students identify with them and can even picture themselves as future entrepreneurs. Each

book includes the financial statements of Best Buy, Circuit City, RadioShack, and Apple to further engage

students.

State-of-the-Art Technolog y

POA offers the most advanced and comprehensive technology on the market in a seamless, easy-to-use

platform. As students learn in different ways, POA provides a technology smorgasbord that helps students

learn more effectively and efficiently. Homework Manager and iPod content are some of the options.

Technology offerings follow:

• Homework Manager

• iPod content

• Algorithmic Test Bank

• Online Learning Center

Carol Yacht's General Ledger

ALEKS for the Accounting Cycle

ALEKS for Financial Accounting

Throug h contemporar y and engaging content, state-of-the-art

technology , and committe d servic e and support, PO A provide s yo u

and you r students everythin g yo u need t o achieve you r goals!

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

1 1

H o w Technolog y help s

student s achiev e thei r goal .

What Can McGraw-Hill Technology Offer You?

Whether you are just getting started with technology in your course, or you are ready to embrace the latest

advances in electronic content delivery and course management, McGraw-Hill/Irwin has the technology you need,

and provides training and support that will help you every step of the way.

One of our most popular technologies, Homework Manager is an optional online Homework Management system

that will allow you to assign problems and exercises from the text for your students to work out in an online format.

Student results are automatically graded, and the students receive instant feedback on their work.

Students can also use the Online Learning Center at www.mhhe.com/wildFAPI9e associated with this book to

enhance their knowledge of accounting. Plus we now offer iPod content for students who want to study on the go.

For instructors, we provide all of the crucial instructor supplements on one easy-to-use Instructor CD-ROM; we

can help build a custom class Website for your course using PageOut; we can deliver an online course cartridge for

you to use in Blackboard, WebCT, or eCollege.

How Can Students Study on the Go Using Their iPod?

iPod Content

Harness the power of one of the most popular technology tools students use

today-the Apple iPod. Our innovative approach allows students to download audio

and video presentations right into their iPod and take learning materials with them

wherever they go. Students just need to visit the Online Learning Center at www.

mhhe.com/wildFAPI9e to download our iPod content. For each chapter of the

book they will be able to download audio narrated lecture presentations and finan￾cial accounting videos for use on various versions of iPods. iPod Touch users can even

access self-quizzes.

It makes review and study time as easy as putting in headphones.

How Can My Students Use the Web to Complete Their Homework?

McGraw-Hill's Homework Manager®

is a Web-based supplement that duplicates problem structures directly

from the end-of-chapter material in your

textbook, using algorithms to provide a limit￾less supply of online self-graded assignments

that can be used for student practice, home￾work, or testing. Each assignment has a unique

solution. Say goodbye to cheating in your classroom; say hello to

the power and flexibility you've been waiting for in creating assign￾ments. Most Quick Studies, Exercises, and Problems are available with

Homework Manager.

McGraw-Hill's Homework Manager is also a useful grading tool.

All assignments can be delivered over the Web and are graded auto￾matically, with the results stored in your private grade book. Detailed results let you see at a glance how each student

does on an assignment or an individual problem—you can even see how many tries it took them to solve it

HOMEWORK • T

MANAGER' • u

Gershowitz. Nashville State Technical Community College ^

"Very thorough ... and there is a wide variety of supplemental materials that can be used by students. Homework Manager is a real time saver for instructors

... as it provides immediate feedback to the students and gives them the opportunity to rework problems so ttiat if they did not understand the concept the

first time, tfcey can repeat several times until they get it. Homework Manager has worked very well for us. The instructors like it and I have lots of positive

<^ J

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn

It- -

H o w Technolog y help s

student s achiev e thei r goal .

viii ® i

How Can Text-Related Web Resources Enhance My Course?

Online Learning Center (OLC)

We offer an Online Learning Center (OLC) that follows Principles of Accounting

chapter by chapter.

It doesn't require any building or maintenance on your part. It's ready to go the moment you and your

students type in the URL: www.mhhe.com/wildFAP 19e.

As students study and learn from Principles of Accounting, they can visit the Student Edition of the OLC

Website to work with a multitude of helpful tools:

Generic Template Working Papers

Chapter Learning Objectives

Interactive Chapter Quizzes

PowerPoint® Presentations

Problem Set C

Narrated PowerPoint® Presentations

Video Library

Excel Template Assignments

Animated Demonstration Problems

iPod Content

Peachtree Templates

A secured Instructor Edition stores essential course materials to save you prep time before class.

Everything you need to run a lively classroom and an efficient course is included. All resources available

to students, plus ...

General Ledger and Peachtree Solution Files

Problem Set C Solutions

Instructor's Manual

Solutions Manual

Solutions to Excel Template Assignments

Test Bank

The OLC Website also serves as a doorway to other technology solutions, like course management

systems.

Lillian Grose, Delgado CC

"Logical, concise, comprehensive with excellent

publisher support material."

Số hóa bởi Trung tâm Học liệu – ĐH TN http://www.lrc-tnu.edu.vn