Skagit Valley College

Catalog Course Search Details

This course has been changed from the previous catalog, the changed field(s) are highlighted in red:

 Course Title:   Small Business Accounting II

 Title Abbreviation:   SMALL BUS ACCT II

 Department:    ACCT

 Course #:    146

 Credits:    5

 Variable:     No

 IUs:    5

 CIP:    520302

 EPC:    547

 REV:    2018

 Course Description  

Learn to analyze and record the business transactions of sole-proprietorship, merchandise businesses in general and special journals using double-entry accounting. Complete worksheets, record adjusting and closing entries, and create financial statements as required for a complete accounting cycle. Additional topics include notes payable and notes receivable, bad debt, inventory, and fixed assets. Not intended for transfer.


Prerequisite: ACCT 145.

Additional Course Details

Contact Hours (based on 11 week quarter)

Lecture: 55

Lab: 0

Other: 0

Systems: 0

Clinical: 0

Intent: Distribution Requirement(s) Status:  

Vocational Preparatory Required for ATA degree, Required for certificate  

Equivalencies At Other Institutions

Other Institution Equivalencies Table
Institution Course # Remarks

Learning Outcomes

After completing this course, the student will be able to:

  1. Analyze basic business transactions for merchandise businesses.
  2. Journalize transactions in general and special journals and post to general and subsidiary ledgers.
  3. Prepare a trial balance, income statement, statement of owner’s equity, and a balance sheet.
  4. Complete end-of-period accounting activities: worksheet, financial statements, adjusting and closing entries, and post-closing trial balance.
  5. Record accounting entries related to the distribution and receipt of notes.
  6. Record accounting entries related to bad debt.
  7. Record accounting entries related to inventory.
  8. Record accounting entries related to fixed assets.

General Education Learning Values & Outcomes

Revised August 2008 and affects outlines for 2008 year 1 and later.

2. Critical Thinking

Definition: The ability to think critically about the nature of knowledge within a discipline and about the ways in which that knowledge is constructed and validated and to be sensitive to the ways these processes often vary among disciplines.

Outcomes: Students will be able to . . .
2.1 Identify and express concepts, terms, and facts related to a specific discipline.
2.3 Identify, interpret, and evaluate pertinent data and previous experience to reach conclusions.

8. Mathematical Reasoning

Definition: Understanding and applying concepts of mathematics and logical reasoning in a variety of contexts, both academic and non-academic.

Outcomes: Students will be able to . . .
8.2 Correctly apply logical reasoning and mathematical principles to solve problems.

Course Contents

  1. Analyzing and recording business transactions for a sole-proprietor or partnership, merchandise businesses.
  2. Special journals and subsidiary ledgers.
  3. Adjusting entries and the worksheet.
  4. Closing entries and financial statements.
  5. Partnerships: formation, distribution of income, dissolution.
  6. Accounting for bad debt.
  7. Accounting for inventory.
  8. Accounting for fixed assets.
  9. Accounting review problem.