Students will be abel to: journalize an opening entry; interpret information contained in source documents; follow principles of double-entry bookkeeping in the journalizing process; record entries in special journals; total and post special journals; adjust for bad debts using direct write-off or allowance methods; analyze transactions involving owners’ equity; post from special journals to general and subsidiary ledger accounts; demonstrate understanding of multicolumn ledgers and computerized posting methods; use appropriate posting references; prove accuracy of posting to ensure entries are in balance; calculate employee earnings; enter payroll data in a payroll earnings record; demonstrate familiarity with electronic payroll data entry; complete a payroll register; prepare a payroll check and check stub with appropriate information; record information found on W-4 forms in employee data section; calculate appropriate employee payroll taxes and employer payroll tax liabilities; determine appropriate deposit dates, documentation, and prepare quarterly state and federal tax forms; journalize payroll entries at end of earnings period in appropriate journals; complete check stubs and checks; enter appropriate data on a deposit slip; reconcile a bank statement; follow up on outstanding checks, including voiding and/or reissuing checks; use online and electronic banking procedures and credit cards and/or debit cards; manage multiple bank accounts and transactions; reconcile and replenish petty cash funds; demonstrate knowledge of a merchandise inventory account; analyze effects on accounts by the purchase of merchandise; calculate the cost of merchandise sold; prepare adjusting entries based on physical inventory; calculate costs for obsolete or shrinkage of inventory; complete 8 or 10 column worksheets; prepare necessary financial statements from a completed worksheet; verify financial statements against worksheets for accuracy; record and post adjusting and closing entries; locate and correct accounting errors; prepare post-closing trial balance from general ledger; identify and locate appropriate business forms used in bookkeeping and/or accounting; apply procedures for using electronic data for various bookkeeping and/or accounting purposes; demonstrate ability to use calculator, adding machine, and computer; generate and interpret charts and graphs; generate and interpret spreadsheets; identify internal controls for sensitive source documents and internal controls for e-commerce; use internal controls for the protection of company assets; practice confidentiality and ethics; use terminology relating to accounting; identify careers in accounting; exhibit understanding of regulatory bodies; compare and contrast cash or accrual accounting; differentiate between proprietorship, partnership, corporation, and departmental accounting procedures; Record accounting entries for installment payment systems; Calculate the amount of uncollectible accounts through aging of accounts receivable; Exhibit understanding of stocks, declarations, and payment of dividends; calculate and record depreciation and amortization; and calculate and analyze financial ratios.  Performance Component:  Journal Entries (27%), Posting Verification (10%), Payroll (12%), Complete Worksheet (7%), Financial Statements (14%), Ratio and Partial Horizontal Analysis (10%), and Advanced Journal Entries (20%).