Accounting principles chapter 02

... CHAPTER THE RECORDING After studying this chapter, you should be able to: PROCESS Explain what an account is and how ... process Explain what a journal is and how it helps in the recording process CHAPTER THE RECORDING After studying PROCESS this chapter, you should be able to: Explain what a ledger is and how it helps ... trial balance and explain its purpose THE ACCOUNT STUDY OBJECTIV...

Ngày tải lên: 05/04/2017, 14:48

... CHAPTER THE RECORDING PROCESS Accounting Principles, Eighth Edition Chapter 2-2 Study Study Objectives Objectives Explain what an ... (debit) Normal Balance Chapter 3-25 Owner’s Capital Debit / Dr Chapter 3-25 Chapter 2-14 Owner’s Drawing Credit / Cr Debit / Dr Normal Balance Normal Balance Credit / Cr Chapter 3-23 LO Define ... Debit / Dr Revenue Chapter 3-25 Credit / Cr Deb...

Ngày tải lên: 05/04/2017, 15:18

... PROCEDURES Double-entry system  Each transaction must affect two or more accounts to keep the basic accounting equation in balance 2-3  Recording done by debiting at least one account and crediting ... hair salon to be called “Hair It Is.” A friend has advised Kate to set up a double-entry set of accounting records in which to record all of her business transactions Identify the balance...

Ngày tải lên: 12/05/2017, 11:44

... Chapter The Recording Process Chapter 2-2 Accounting Principles, Ninth Edition Study Study Objectives Objectives Explain what ... (debit) Normal Balance Chapter 3-25 Owner’s Capital Debit / Dr Chapter 3-25 Chapter 2-14 Owner’s Drawing Credit / Cr Debit / Dr Normal Balance Normal Balance Credit / Cr Chapter 3-23 SO Define ... Debit / Dr Revenue Chapter 3-25 Credit / Cr Debit /...

Ngày tải lên: 13/05/2017, 10:21

... CHAPTER2 The Recording Process 2-2 PreviewofCHAPTER2 2-3 The Account Account  Record of increases and decreases in a ... 2-5 ► Each transaction must affect two or more accounts to keep the basic accounting equation in balance ► Recording done by debiting at least one account and crediting another ► DEBITS must equal ... more on fair value than U.S companies Despite the differences, the...

Ngày tải lên: 15/05/2017, 10:32

... be out of balance by an amount divisible by  Transposing two digits when transferring an amount to the trial balance causes the trial balance to be out of balance by an amount divisible by – The ... amount of the debits must equal the total amount of the credits  Ac c o unts are the basic storage units for accounting data and are used to accumulate amounts from similar tra...

Ngày tải lên: 15/05/2017, 15:42

... in the recording process Steps in the Recording Process Standard Form of Account Illustration 2-17 2-25 LO Explain what a ledger is and how it helps in the recording process Steps Posting – process ... provide evidence of the transaction 2-14 LO Identify the basic steps in the recording process Team Quiz #1 2-15 2-16 Team Quiz #2 2-17 Team Quiz #3 2-18 Steps i...

Ngày tải lên: 13/01/2015, 11:17

... problems 67 68 Chapter Lecture Notes Helpful Hint: Before beginning the lecture, show students the second segment from the first tape of the McGraw-Hill/Irwin Managerial/ Cost Accounting video ... concept is explored in greater detail in the chapter on relevant costs However, decision-making contexts crop up from time to time in the text before that chapter, so it is a good idea to fa...

Ngày tải lên: 23/11/2016, 10:46

... combining of cost but one must look to the particular purpose and its full meaning 12 Chapter An Introduction to Cost Terms and Purposes 12 Present key features of cost accounting and cost management ... Cost accounting is more than costing a product that can be inventoried Costs must be 11 Chapter An Introduction to Cost Terms and Purposes...

Ngày tải lên: 23/11/2016, 16:12

... issuance of notes, debt, sale of equity, etc – Payments on notes, debt, dividends, etc 13 Classifying Financing, Investing, and Operating Transactions Financing and Investing Transactions Operating ... Chapter The Financial Statements Business Activities  Business activities are reflected in financial statements; business activities include: – Operating activities – selling goods and...

Ngày tải lên: 24/11/2016, 11:10

... Financial Financial Statements Statements Ratio Analysis  Ratio analysis expresses the relationship among selected items of financial statement data  A ratio expresses the mathematical relationship ... the the Financial Financial Statements Statements Illustration 2-9 Financial ratio classifications 2-23 LO Identify tools for analyzing financial statements and ratios...

Ngày tải lên: 24/11/2016, 14:35

... activities relating to marketing objectives and the changing marketing environment  Marketing Plan – a written document that acts as a guidebook of marketing activities for the marketing manager ... 17 Why Write a Marketing Plan? The creation and implementation of a complete marketing plan will allow the organization to achieve marketing objectives and succeed However, th...

Ngày tải lên: 09/12/2016, 12:20

... CHAPTER ACCOUNTING IN ACTION After studying this chapter, you should be able to: • Explain what accounting is • Identify users and uses of accounting • Understand why ... concept • Explain the meaning of generally accepted accounting principles and the cost principle CHAPTER ACCOUNTING IN After studying thisACTION chapter, you should be able to: • Explain the meaning ... BOO...

Ngày tải lên: 05/04/2017, 14:48

... accrual-basis accounting is incorrect? a Accrual-basis accounting follows the revenue recognition principle b Accrual-basis accounting is the method required by generally accepted accounting principles ... Accrual-basis accounting follows the revenue recognition principle b Accrual-basis accounting is the method required by generally accepted accounting principles c Accrual-...

Ngày tải lên: 05/04/2017, 14:48