Ch3+Note+Posting - Chapter 3 The Accounting Information...

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Chapter 3 – The Accounting Information System Chart of Accounts, Journal, Ledger, and Trial Balance Chart of Accounts Journal Ledger Trial Balance What? Account # Account Title Dr. & Cr. Transactions Balance Double Entry Accounting: 1
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Rules of Debit (Dr.) & Credit (Cr.) 1. Dr. (Left) & Cr. (Right) 2. Total Debits = Total Credits Assets Liabilities Equity-Share Capital Equity-Retained Earnings Dr Cr Dr Cr Dr Cr Dr Cr to record an increase to record a decrease to record a decrease to record an increase to record a decrease to record an increase to record a decrease to record an increase + + + + Normal Balance Normal Balance Normal Balance (Net Loss) (Net Income) Normal Balance Revenue Dr Cr Dr Cr to record a decrease to record an increase to record an increase to record a decrease + + Normal Balance Normal Balance ADE LCR Dr Cr Dr Cr to record an increase to record a decrease to record a decrease to record an increase + + Normal Balance Normal Balance 2
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Chapter 3 – Class Discussion Questions
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Ch3+Note+Posting - Chapter 3 The Accounting Information...

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