Bookkeeping II involves the application of accounts receivable and accounts payable, and the study and application of the generally accepted accounting principles within merchandising firms. The course involves using special journals, end-of-the-year adjustments for depreciation, accruals, bad debts, closing entries, financial statements, and payroll. This course emphasizes the national accounting standards (private enterprise Generally Accepted Accounting Principles – GAAP).
Prerequisite(s): AC1100