The LIFEPAC Gold Accounting Complete Boxed Set includes 10 full-color LIFEPAC student worktexts, and a complete Teacher's Guide including a synopsis of every LIFEPAC worktext, complete answer keys and text keys, and tips on managing your home school.

Today it's more important than ever that young people learn to manage money, whether it's for personal or business needs. Principles of money management and accounting are presented in this Accounting elective, which includes an overview of accounting, debits and credits, journalizing and posting transactions, financial statements, payroll accounting, taxes and a business simulation activity. Appropriate for 7th grade and up.

Table of Contents

LIFEPAC Gold - Accounting Overview

ACCOUNTING OVERVIEW

• Careers in Accounting
• Nature of Bookkeeping & Accounting
• Types of Business Ownership
• The Basic Accounting Equation
• Changes in the Accounting Equation

STARTING AN ACCOUNTING SYSTEM

• Creating a Chart of Accounts
• Accounting Concepts & Practices
• The Balance Sheet, General Journal
• General Ledger
• Recording & Posting Opening Entry

LIFEPAC 3 OVERVIEW

ANALYZING & JOURNALIZING TRANSACTIONS

• Using the T Account
• Transactions Affecting Balance Sheet
• Income Statement Items
• Transaction Analysis &Journal Entries

LIFEPAC 4 OVERVIEW

• Types of Ledger Accounts
• The Expanded Chart of Accounts
• Opening the Ledger & Posting
• Journal Entries
• Preparing a Trial Balance

LIFEPAC 5 OVERVIEW

PREPARING THE WORKSHEET

• The Six-Column Worksheet
• The Eight-Column Worksheet
• Adjustments on a Worksheet
• Calculating Net Income/Net Loss
• Review Worksheet Procedures

LIFEPAC 6 OVERVIEW

• Income Statement
• Statement of Owner’s Equity
• The Balance Sheet

LIFEPAC 7 OVERVIEW

• Adjusting Entries
• Closing Entries
• Prepare a Post-Closing Trial Balance

LIFEPAC 8 OVERVIEW

• Payroll Functions & Deductions
• Calculating Employee Earnings
• Completing the Payroll Register
• Payroll Records & Methods

LIFEPAC 9 OVERVIEW

• Recording a Payroll
• Recording Employer’s Payroll Taxes
• Reporting Taxes
• Payment of Taxes

LIFEPAC 10 OVERVIEW

• Purpose
• Materials Required
• Steps to Complete
• Review all Materials