西方财务会计3-45页PPT精选文档

PresentedbyAnnieChenTheDepartmentofAccountingGDUFChapter3TheAccountingCycle--CapturingEconomicEvents•Thischapterdemonstrateshowaccountingsystemsrecordeconomiceventsrelatedtoavarietyofbusinesstransactions.TheRoleofAccountingRecordsEstablishesaccountabilityforassetsandtransactions.Keepstrackofroutinebusinessactivities.Obtainsdetailedinformationaboutaparticulartransaction.Evaluatesefficiencyandperformancewithincompany.Maintainsevidenceofacompany’sbusinessactivities.P86STILLREMEMBER?LEGDERACCOUNTLEGDERJOURNALPOSTINGDateAccountTitlesandExplanationDebitCredit2007May1Cash8,000CapitalStock8,000Ownersinvestcashinthebusiness.Cash5/18,0005/22,5005/82,000NotesPayable5/813,000ABJOURNALLEDGERACCOUNTTheLedgerAccountandTheLedgerTheentiregroupofaccountsiskepttogetherinanaccountingrecordcalledaledger.Accountsareindividualrecordsshowingincreasesanddecreases.•Transactionsareinitiallyrecordedinthejournalratherthantheledgeraccount.•Thejournalrecordstransactionsinchronological(daybyday)order.•Theledgergroupstogetheralltransactionsthatimpactaparticularaccount.•Youcanreferalltheseimportanttermstoyourtextbookeasilywiththeglossaryafterchapter.(Chapter3glossary:p113)•Debit/CreditSkillTests–P117Q4–P118BE3.4ASSETSDebitforIncreaseCreditforDecreaseEQUITIESDebitforDecreaseCreditforIncreaseLIABILITIESDebitforDecreaseCreditforIncreaseDebitsandcreditsaffectaccountsasfollows:DebitandCreditRulesInthedouble-entryaccountingsystem,everytransactionisrecordedbyequaldollaramountsofdebitsandcredits.A=L+OELet’srecordselectedtransactionsforOvernightAutoServiceintheaccounts.Jan20:MichaelMcBryanandfamilyinvested$80,000inexchangeforcapitalstock.WillCashincreaseordecrease?WillCapitalStockincreaseordecrease?CapitalStock1/2080,000Cash1/2080,000Jan20:MichaelMcBryanandfamilyinvested$80,000inexchangeforcapitalstock.Cashincreases$80,000withadebit.CapitalStockincreases$80,000withacredit.RepresentingOvernight,McBryannegotiatedwithboththeCityofSantaTeresaandMetropolitanTransitAuthoritytopurchaseanabandonedbusgarage.(ThecityownedthelandbuttheMTAownedthebuilding.)OnJanuary21,OvernightAutoServicepurchasedthelandfromthecityfor$52,000cash.WillCashincreaseordecrease?WillLandincreaseordecrease?Land1/2152,000Cash1/2080,0001/2152,000RepresentingOvernight,McBryannegotiatedwithboththeCityofSantaTeresaandMetropolitanTransitAuthoritytopurchaseanabandonedbusgarage.(ThecityownedthelandbuttheMTAownedthebuilding.)OnJanuary21,OvernightAutoServicepurchasedthelandfromthecityfor$52,000cash.Cashdecreases$2,500withacredit.Landincreases$2,500withadebit.Jan22:OvernightcompletedtheacquisitionofitsbusinesslocationbypurchasingtheabandonedbuildingfromtheMTA.Thepurchasepricewas$36,000;Overnightmadea$6,000cashdownpaymentandissueda90-day,non-interest-bearingnotepayablefortheremaining$30,000.WillBuildingincreaseordecrease?WillCashandNotesPayableincreaseordecrease?Jan22:OvernightcompletedtheacquisitionofitsbusinesslocationbypurchasingtheabandonedbuildingfromtheMTA.Thepurchasepricewas$36,000;Overnightmadea$6,000cashdownpaymentandissueda90-day,non-interest-bearingnotepayablefortheremaining$30,000.Building1/2236,000Cash1/2080,0001/2152,0001/226,000NotesPayable1/2230,000Buildingincreases$36,000withadebit.Cashdecreases$6,000withacredit.NotesPayableincreases$30,000withacredit.Jan23:OvernightpurchasedtoolsandequipmentonaccountfromSnappyTools.Thepurchasepricewas$13,800,duein60days.WillTools&Equipmentincreaseordecrease?WillAccountsPayableincreaseordecrease?Jan23:OvernightpurchasedtoolsandequipmentonaccountfromSnappyTools.Thepurchasepricewas$13,800,duein60days.Tools&Equipmentincreases$13,800withadebit.AccountsPayableincreases$13,800withacredit.Tools&Equipment1/2313,800AccountsPayable1/2313,800Jan24:OvernightsoldtheexcesstoolsonaccounttoAceTowingatapriceof$1,800,apriceequaltoOvernight’scost.WillTools&Equipmentincreaseordecrease?WillAccountsReceivableincreaseordecrease?Jan24:OvernightsoldtheexcesstoolsonaccounttoAceTowingatapriceof$1,800,apriceequaltoOvernight’scost.Tools&Equipmentdecreases$1,800withacredit.AccountsReceivableincreases$1,800withadebit.Tools&Equipment1/2313,8001/241,800AccountsReceivable1/241,800Jan26:Overnightreceived$600inpartialcollectionoftheaccountreceivablefromAceTowing.WillCashincreaseordecrease?WillAccountsReceivableincreaseordecrease?Jan26:Overnightreceived$600inpartialcollectionoftheaccountreceivablefromAceTowing.Cashincreases$600withadebit.AccountsReceivabledecreases$600withacredit.Cash1/2080,0001/2152,0001/266001/226,000AccountsReceivable1/241,8001/26600Jan27:Overnightmadea$6,800partialpaymentofitsaccountspayabletoSnappyTools.WillCashincreaseordecrease?WillAccountsPayableincreaseordecrease?Jan27:Overnightmadea$6,800partialpaymentofitsaccountspayabletoSnappyTools.Cashdecreases$6,800withacreditAccountspayabledecreases$6,800withadebitCash1/2080,0001/2152,0001/266001/226,0001/276,800AccountsPayable1/276,8001/2313,800Inanactualaccountingsystem,transactionsareinitiallyrecordedinthejournal.GENERALJOURNALDateAccountTitlesandExplanationDebitCredit2009Jan.20Cash80,000CapitalStock8