财务会计(英文版·原书第5版)ch02

Chapter2-1Chapter2-2TheRecordingProcessFinancialAccounting,SixthEditionChapter2Chapter2-31.Explainwhatanaccountisandhowithelpsintherecordingprocess.2.Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.3.Identifythebasicstepsintherecordingprocess.4.Explainwhatajournalisandhowithelpsintherecordingprocess.5.Explainwhataledgerisandhowithelpsintherecordingprocess.6.Explainwhatpostingisandhowithelpsintherecordingprocess.7.Prepareatrialbalanceandexplainitspurposes.StudyObjectivesChapter2-4TheAccountDebitsandcreditsDebitandcreditprocedureStockholders’equityrelationshipsExpansionofbasicequationStepsintheRecordingProcessTheRecordingProcessIllustratedTheTrialBalanceLimitationsofatrialbalanceLocatingerrorsUseofdollarsignsSummaryillustrationofjournalizingandpostingTheRecordingProcessJournalLedgerChapter2-5AccountNameDebit/Dr.Credit/Cr.Recordofincreasesanddecreasesinaspecificasset,liability,equity,revenue,orexpenseitem.Title=AccountnameDebit=“Left”Credit=“Right”AccountAnAccountcanbeillustratedinaT-Accountform.SO1Explainwhatanaccountisandhowithelpsintherecordingprocess.TheAccountChapter2-6AccountNameDebit/Dr.Credit/Cr.IfDebitsaregreaterthanCredits,theaccountwillhaveadebitbalance.$10,000Transaction#2$3,000$15,0008,000Transaction#3BalanceTransaction#1DebitsandCreditsSO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.Chapter2-7AccountNameDebit/Dr.Credit/Cr.IfCreditsaregreaterthanDebits,theaccountwillhaveacreditbalance.$10,000Transaction#2$3,000BalanceTransaction#1DebitsandCreditsSO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.$1,0008,000Transaction#3Chapter2-8Double-entryaccountingsystemEachtransactionmustaffecttwoormoreaccountstokeepthebasicaccountingequationinbalance.Recordingdonebydebitingatleastoneaccountandcreditinganother.DEBITSmustequalCREDITS.SO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.DebitsandCreditsChapter2-9Chapter3-23AssetsAssetsDebit/Dr.Credit/Cr.NormalBalanceNormalBalanceChapter3-27Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceExpenseExpenseChapter3-24LiabilitiesLiabilitiesDebit/Dr.Credit/Cr.NormalBalanceNormalBalanceChapter3-25Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceStockholdersStockholders’’EquityEquityChapter3-26Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceRevenueRevenueNormalBalanceCreditNormalBalanceDebitDebitsandCreditsSummarySO2Chapter2-10BalanceSheetIncomeStatement=+=-AssetLiabilityEquityRevenueExpenseDebitCreditDebitsandCreditsSummarySO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.Chapter2-11Debits:a.increasebothassetsandliabilities.b.decreasebothassetsandliabilities.c.increaseassetsanddecreaseliabilities.d.decreaseassetsandincreaseliabilities.ReviewQuestionDebitsandCreditsSummarySO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.Chapter2-12DiscussionQuestionQ4.MariaAlvarez,abeginningaccountingstudent,believesdebitbalancesarefavorableandcreditbalancesareunfavorable.IsMariacorrect?Discuss.SeenotespagefordiscussionDebitsandCreditsSummarySO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.Chapter2-13Assets-Debitsshouldexceedcredits.Liabilities–Creditsshouldexceeddebits.Thenormalbalanceisontheincreaseside.SO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.AssetsandLiabilitiesChapter3-23AssetsAssetsDebit/Dr.Credit/Cr.NormalBalanceNormalBalanceChapter3-24LiabilitiesLiabilitiesDebit/Dr.Credit/Cr.NormalBalanceNormalBalanceChapter2-14Owner’sinvestmentsandrevenuesincreasestockholder’sequity(credit).Dividendsandexpensesdecreasestockholder’sequity(debit).SO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.Stockholders’EquityChapter3-25Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceCommonStockCommonStockChapter3-23DividendsDividendsDebit/Dr.Credit/Cr.NormalBalanceNormalBalanceChapter3-25Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceStockholdersStockholders’’EquityEquityChapter3-25Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceRetainedEarningsRetainedEarningsChapter2-15Thepurposeofearningrevenuesistobenefitthestockholders.Theeffectofdebitsandcreditsonrevenueaccountsisthesameastheireffectonstockholders’equity.Expenseshavetheoppositeeffect:expensesdecreasestockholders’equity.SO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.RevenueandExpenseChapter3-27Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceExpenseExpenseChapter3-26Debit/Dr.Credit/Cr.NormalBalanceNormalBalanceRevenueRevenueChapter2-16Accountsthatnormallyhavedebitbalancesare:a.assets,expenses,andrevenues.b.assets,expenses,andequity.c.assets,liabilities,anddividends.d.assets,dividends,andexpenses.ReviewQuestionDebitsandCreditsSummarySO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.Chapter2-17Stockholders’EquityRelationshipsSO2Definedebitsandcreditsandexplaintheiruseinrecordingbusinesstransactions.Illustration2-11Chapter2-18ExpansionoftheBasicEquationRelationshipamongtheassets,liabilitiesandstock