Đang chuẩn bị liên kết để tải về tài liệu:
Lecture Accounting principles (12th Edition): Chapter 2 - Weygandt, Kimmel, Kieso

Chapter 2 - The recording process. In this chapter, the learning objectives are: Explain what an account is and how it helps in the recording process; define debits and credits and explain their use in recording business transactions, identify the basic steps in the recording process. | The Recording Process 2 Learning Objectives Describe how accounts, debits, and credits are used to record business transactions. Indicate how a journal is used in the recording process. Explain how a ledger and posting help in the recording process. 3 Prepare a trial balance. 2 1 4 Record of increases and decreases in a specific asset, liability, owners’ equity, revenue, or expense item. Debit = “Left” Credit = “Right” The Account An account can be illustrated in a T-account form. LEARNING OBJECTIVE Describe how accounts, debits, and credits are used to record business transactions. 1 LO 1 Double-entry 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 at least one other account. DEBITS must equal CREDITS. DEBIT AND CREDIT PROCEDURES The Account LO 1 $10,000 Transaction #2 $3,000 8,000 Balance Transaction #1 Transaction #3 If the sum of Debit entries are greater than the sum of Credit entries, the account will have a debit balance. $15,000 Debits and Credits LO 1 If the sum of Credit entries are greater than the sum of Debit entries, the account will have a credit balance. $10,000 Transaction #2 $3,000 8,000 Transaction #3 Balance Transaction #1 $1,000 Debits and Credits LO 1 Assets - Debits should exceed credits. Liabilities – Credits should exceed debits. Normal balance is on the increase side. Debits and Credits LO 1 Owner’s investments and revenues increase owner’s equity (credit). Owner’s drawings and expenses decrease owner’s equity (debit). Debits and Credits Helpful Hint Because revenues increase owner’s equity, a revenue account has the same debit/credit rules as the Owner’s Capital account. Expenses have the opposite effect. LO 1 Debits and Credits The purpose of earning revenues is to benefit the owner(s). The effect of debits and credits on revenue accounts is the same as their effect on Owner’s Capital. Expenses have the opposite . | The Recording Process 2 Learning Objectives Describe how accounts, debits, and credits are used to record business transactions. Indicate how a journal is used in the recording process. Explain how a ledger and posting help in the recording process. 3 Prepare a trial balance. 2 1 4 Record of increases and decreases in a specific asset, liability, owners’ equity, revenue, or expense item. Debit = “Left” Credit = “Right” The Account An account can be illustrated in a T-account form. LEARNING OBJECTIVE Describe how accounts, debits, and credits are used to record business transactions. 1 LO 1 Double-entry 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 at least one other account. DEBITS must equal CREDITS. DEBIT AND CREDIT PROCEDURES The Account LO 1 $10,000 Transaction #2 $3,000 8,000 Balance Transaction #1 Transaction #3 If the sum of Debit entries are greater than .