Chapter 2 Presentation- Accounting

Chapter 2 Presentation- Accounting - Analyzing Transactions...

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Click to edit Master subtitle style 4/5/11 Analyzing Transactions Chapter 2
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4/5/11 Learning Objectives Overview l In the same way that we organize things in our personal lives, organizations must develop an organized method for processing, recording, and summarizing financial transactions.
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4/5/11 Learning Objectives Purpose l Today we will focus on recording transactions.
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4/5/11 The T Account Account Title The left side of the account is called the debit side. Debit The right side of the account is called the credit side. Credit
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4/5/11 Transactions: Chapter 1 Exhibit 1
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4/5/11 The T Account Example Cash (a) 25,000 (b) 20,000 (d) 7,500 (e) 3,650 (f) 950 (h) 2,000 Balance 5,900 Balance of the account
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4/5/11 Chart of Accounts A group of accounts for a business entity is called a ledger. A list of the accounts in a ledger is called a chart of accounts.
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Chart of Accounts Assets are resources owned by the business entity. l
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This note was uploaded on 04/04/2011 for the course WCOB 1023 taught by Professor Sandeepgoyal during the Spring '08 term at Arkansas.

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Chapter 2 Presentation- Accounting - Analyzing Transactions...

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