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Chapter 2 Lecture Slides -KVP(1)

Chapter 2 Lecture Slides -KVP(1) - 4 Transaction A On...

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3/17/11
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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
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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
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1-4 1-4 4 Net Solutions Summary
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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.
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1-6 2-6 66 Exhibit 2 Chart of Accounts for NetSolutions 1
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3/17/11 Imagine a T
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3/17/11 Debits = Left side Credits = Right side
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3/17/11
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3/17/11 Assets = Liabilities + Owners’ Equity
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1-11 2-11 1111 On November 1, Chris Clark deposited $25,000 in a bank account in the name of NetSolutions in exchange for capital stock.
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