Accounting Unit 2

More like this

Group B: Case 13, China's Home Improvement Market

by Eric Delacruz

ingles

by Jocselin Leal

CHAPTER 2. PERSONAL FINANCIAL STATEMENT

by FARAH DALILA ABDUL KARIM

POD Architecture for POD Owners

by Rajesh Krishnan

Accounting Unit 2

Lesson 3: Trial Balance

Provide totals with double underline

Use balances from ledger accounts, enter amounts in either debit or credit column

List accounts in same order as ledger

Complete heading and date

List of all accounts with current balances

Lesson 2: T- Accounts

Assets = Debit, Liabilities = Credit

Debit on Left, Credit on right

Lessons 1 : Balance Sheets

Formatting

Order of liquidity

Maturity rate

Statement heading

Financial Worth

Financial worth = Assets - Liabilities

Lesson 5: The Journal

Journal entry formatting

Write explanation for the transaction

Distinguish credit and debit entry

Name of account debited & dollar amount in debit column

Date

Lesson 4: Income Statement

Accrual vs Cash Accounting

Accounting Standards

Matching principel

Time-period principle

Accounting period

Revenue - Expenses = Profit

Net loss

Net income

Preparing an income statement

List costs under "operating expenses"

List income unde rheading revenue

Date % Heading