Đang tải... (xem toàn văn)
chap 2
Chapter 2-1 The Recording Process Financial Accounting, Sixth Edition Chapter Chapter 2 2 Chapter Chapter 2 2 Chapter 2-2 1. Explain what an account is and how it helps in the recording process. 2. Define debits and credits and explain their use in recording business transactions. 3. Identify the basic steps in the recording process. 4. Explain what a journal is and how it helps in the recording process. 5. Explain what a ledger is and how it helps in the recording process. 6. Explain what posting is and how it helps in the recording process. 7. Prepare a trial balance and explain its purposes. Study Objectives Study Objectives Study Objectives Study Objectives Chapter 2-3 The Account The Account The Account The Account Debits and Debits and credits credits Debit and Debit and credit credit procedure procedure Stockholders’ Stockholders’ equity equity relationships relationships Expansion of Expansion of basic equation basic equation Steps in the Steps in the Recording Recording Process Process Steps in the Steps in the Recording Recording Process Process The Recording The Recording Process Process Illustrated Illustrated The Recording The Recording Process Process Illustrated Illustrated The Trial The Trial Balance Balance The Trial The Trial Balance Balance Limitations of a Limitations of a trial balance trial balance Locating errors Locating errors Use of dollar Use of dollar signs signs Summary Summary illustration of illustration of journalizing journalizing and posting and posting The Recording Process The Recording Process The Recording Process The Recording Process Journal Journal Ledger Ledger Chapter 2-4 Account Name Debit / Dr. Credit / Cr. Record of increases and decreases in a specific asset, liability, equity, revenue, or expense item. Debit = “Left” Credit = “Right” Account Account An Account can An Account can be illustrated in a be illustrated in a T-Account T-Account form. form. SO 1 Explain what an account is and how it helps in the recording process. SO 1 Explain what an account is and how it helps in the recording process. The Account The Account The Account The Account Chapter 2-5 Double-entry Double-entry accounting system Each transaction must affect two or more accounts to keep the basic accounting equation in balance. Recording done by debiting at least one account and crediting another. DEBITS must equal must equal CREDITS. SO 2 Define debits and credits and explain their SO 2 Define debits and credits and explain their use in recording business transactions. use in recording business transactions. Debits and Credits Debits and Credits Debits and Credits Debits and Credits Chapter 2-6 Account Name Debit / Dr. Credit / Cr. If Debits are greater than greater than Credits, the account will have a debit balance. $10,000 Transaction #2$3,000 $15,000 $15,000 8,000Transaction #3 Balance Transaction #1 Debits and Credits Debits and Credits Debits and Credits Debits and Credits SO 2 Define debits and credits and explain their SO 2 Define debits and credits and explain their use in recording business transactions. use in recording business transactions. Chapter 2-7 Account Name Debit / Dr. Credit / Cr. If Credits are greater than greater than Debits, the account will have a credit balance. $10,000 Transaction #2$3,000 Balance Transaction #1 Debits and Credits Debits and Credits Debits and Credits Debits and Credits SO 2 Define debits and credits and explain their SO 2 Define debits and credits and explain their use in recording business transactions. use in recording business transactions. $1,000 $1,000 8,000 Transaction #3 . Chapter 2- 1 The Recording Process Financial Accounting, Sixth Edition Chapter Chapter 2 2 Chapter Chapter 2 2 Chapter 2- 2 1. Explain what. The Account The Account The Account The Account Chapter 2- 5 Double-entry Double-entry accounting system Each transaction must affect two or more accounts