Chapter 2 Lecture Slides -KVP(1)

Chapter 2 Lecture Slides -KVP(1) - 3/17/11 1-2 2-2 On...

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Unformatted text preview: 3/17/11 1-2 2-2 On November 1, 2009, Chris Clark deposits $25,000 in a bank account in the name of NetSolutions in return for shares of stock in the corporation. Transaction A 4 1-3 2-3 Transaction B On November 5, 2009, NetSolutions paid $20,000 for the purchase of land as a future building site. 4 1-4 1-4 4 Net Solutions Summary 1-5 2-5 Click to edit Master subtitle style 55 After studying this chapter, you should be able to: Describe the characteristics of an account and a chart of accounts . 1 Analyzing and Recording Transactions 2-2 2 Describe and illustrate journalizing transactions using the double-entry accounting system. 3 Describe and illustrate the journalizing and posting of transactions to accounts. 4 Prepare an unadjusted trial balance and explain how it can be used to discover errors. 1-6 2-6 66 Exhibit 2 Chart of Accounts for NetSolutions 1 3/17/11 Imagine a T 3/17/11 Debits = Left side Credits = Right side 3/17/11 3/17/11 Assets = Liabilities + Owners Equity 1-11 2-11...
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Chapter 2 Lecture Slides -KVP(1) - 3/17/11 1-2 2-2 On...

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