Chapter 3 Part 2 notes

Chapter 3 Part 2 notes - Transaction 6 Post the transaction...

Info iconThis preview shows pages 1–25. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 3 Part II – Accounting Cycle, Business Transactions Analysis with debits and credits
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Accounting Cycle The Accounting Cycle begins with the analysis of transactions, and Ends with a Post-Closing Trial Balance.
Background image of page 2
The Accounting Cycle In this Chapter, we’ll cover Steps 1 through 3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Quality Web Designs This example is found on page 110 in your text. For each transaction, we will: Analyze the impact on the accounting equation Apply the rules for Debits and Credits Prepare the journal entry Post the Entry to the T accounts .
Background image of page 4
Transaction 1
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Post the transaction to the T accounts
Background image of page 6
Transaction 2
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Post the transaction to the T accounts
Background image of page 8
Transaction 3
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Post the transaction to the T accounts
Background image of page 10
Transaction 4
Background image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Post the transaction to the T accounts
Background image of page 12
Transaction 5
Background image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Post the transaction to the T accounts
Background image of page 14
Background image of page 15

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 16
Background image of page 17

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 18
Background image of page 19

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 20
Background image of page 21

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 22
Background image of page 23

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 24
Background image of page 25
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Transaction 6 Post the transaction to the T accounts Transaction 7 Post the transaction to the T accounts Transaction 8 Post the transaction to the T accounts The Ending Balance from Each of the T accounts Is listed on the Trial Balance, in order of liquidity Total Debits = Total Credits Revenue and Expense balances are recorded on the income statement Net Income is transferred to the Statement of Retained Earnings Net Income and Dividends are reported on the Statement of Retained Earnings From Income Statement To Balance Sheet Assets, Liabilities and the Ending Balance from the Statement of Retained Earnings are reported on the Balance Sheet From Statement of Retained Earnings End Chapter 3...
View Full Document

Page1 / 25

Chapter 3 Part 2 notes - Transaction 6 Post the transaction...

This preview shows document pages 1 - 25. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online