T2notes - 1 Chapter 2: Analyzing and Recording Transactions...

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Unformatted text preview: 1 Chapter 2: Analyzing and Recording Transactions ***** A VERY IMPORTANT CHAPTER ***** You MUST fully understand this chapter in order to proceed to the remaining sections of this course. Double entry system (*****TB53/54) Dr. (debit) Cr. (credit) *****TB57-61 demonstration (VERY IMPORTANT  YOU MUST FULLY UNDERSTAND!) ***** Attempt the demonstration question on TB67 Journal Date Particulars Dr. $ Cr. $ 20Y0 Jan 1 ABC X DEF X (Narrations) Trial balance: list of accounts and their balance at a point of time (usually quarter-ended or year ended) Additional question – Problem 2-2A Mar. 1 Cash ....................................................................... 101 180,000 Office Equipment ................................................. 163 30,000 2 D. Brooks, Capital ....................................... 301 210,000 Owner invested cash and equipment. 2 Prepaid Rent ......................................................... 131 8,000 Cash .............................................................. 101 8,000 Prepaid six months’ rent....
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This note was uploaded on 11/22/2011 for the course BUSI 1002 taught by Professor Liu during the Fall '10 term at HKU.

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T2notes - 1 Chapter 2: Analyzing and Recording Transactions...

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