Here are the key areas covered in

Midterm exam. Good luck. CHAP 2

CHAP 1 Account done
Accounting equation done Balance sheet accounts
Accounting information users done Book of original entry done
Accounting jobs done
Chart of accounts done
Accounting reports
Compound journal entry done
Assets done
Documents done
Auditors done

Balance sheet done Journals done

Capital done Ledger accounts done
Claims of creditors and owners total business Ledgers done
assets

Cost principle vs fair value principle done Normal balance done

Determination of net income done Simple journal entry done
Economic entity assumption done Tabular form done
Economic events
The double-entry system of
Ethical behavior done accounting done
Financial statement done
Trial balance done
Generally accepted accounting principles done

Income statement done

Internal transactions vs external transactions

done

Interpretation of reported information

Monetary unit assumption done

Owner withdraws done

Owner's equity done

Private accountant vs public accountant done

Purpose of the statement of cash flows done

Recording an economic event done

Residual equity done

Revenues done

Steps of accounting process done

The usefulness of accounting study

Transaction done
CHAP 3
Accrual basis of accounting
done
Accumulated depreciation
accounts done
Adjusting entries done
Asset prepayments done
Cash basis of accounting done
Contra asset account done
Depreciation expense done
Expense recognition principle
done
Fiscal year done
Interim periods done
Prepaid costs done
Revenue recognition principle
done
Time period assumption done
Unearned revenue done
CHAP 4
Classified balance sheet
done
Closing entries done
Current liability done
Income summary done
Intangible assets done
Journalized
Long-term investments
done
Operating cycle of a
company done
Order of liquidity done
Permanent account done
Post-closing trial balance
done
Property, plant, and
equipment done
Temporary accounts done
Worksheet done