This fourth edition brings to the study of bookkeeping and accounting the same solved-problems approach that has proved so successful in the disciplines of engineering, mathematics, and accounting. In contrast to previous supplementary materials, which have been little more than summary textbook, this book is organized around the practical application of basic bookeeping and accounting concepts. This book develops the student's ability to understand and solve bookeeping and accounting problems. Contents: Assets, liabilities, and capital; Debits and credits: the double-entry system; Journalizing and posting transactions; Financial statements; Adjusting and closing procedures; Computer application (peachtree software introduction); Repetitive transactions: the sales and the purchase journals; The cash journal;Summarizing and reporting via the worksheet; The merchandising company; Costing merchandise inventory; Pricing merchandise; Negotiable instruments; Controlling cash; Payroll; Property, plant, and equipment: depreciation; The partnership; The corporation.