《Accounting Elements》课件-lesson4课件-英语

Unit4Journals,Ledgers&TrialBalance

Ⅰ.JournalsⅡ.LedgersⅢ.TrialBalance2Thesequenceofaccountingproceduresusedtorecord,classify,andsummarizeaccountinginformationistermedtheaccountingcycle.Theaccountingcyclebeginswiththeinitialrecordingbusinesstransactionsandconcludeswiththepreparationofformalfinancialstatements.AccountingCycle3AccountingCycle1.Analyzingtransactions2.Makingjournals3.Preparingledgers4.Trialbalance5.Adjusting&closing6.Adjustedtrialbalance7.FinancialstatementAccountingCycle4ⅠJournalsDefinitionofjournal

Formofthejournal

Activities

Proceduresofrecording5Transaction

occursRecordingbusinesstransactionDefinitionofjournalSourcedocumentpreparedTransaction

enteredinjournalAccountspostedtoledgerJournalisthebookoforiginalentryofbusinesstransactionsrecordedinchronologicalorder.6Thejournalrecordsthefollowinginformationforeachtransaction:(1)Thetransactiondate(2)Thenamesoftheaccountsdebitedandcredited(3)Anexplanationofthetransaction(4)Theamountsdebitedandcreditedtoeachaccount

FormofthejournalDateAccountandexplanationPostRefDebitCreditApril3CashAccountsreceivable-LarrySalesoncredittoLarry50,00050,0007

ProceduresofrecordingDateAccountandexplanationPostRefDebitCreditApril3CashAccountsreceivable-LarrySalesoncredittoLarry50,00050,000DateNameofaccountsamount8ThefollowingaretransactionofLyntetteMuncyLawFirmduringthemonthofMay.

Activities1Begananewlawpracticebyinvesting$10,000incash.1Rentedtheofficefurnitureandpaidtwomonths’rentinadvance$2,000.2Purchasedofficesuppliesoncredit,$800.8Completedalegalworkforaclientandimmediatelycollect$500cashforthework.12PaidfortheofficesuppliesonMay2.915Completedlegalworkoncredit$1,000.25Received$1,000forthetransactionon15th.27OwnerLynettewithdrew$50topayherpersonalbill.31Paidthetelephonebilloftheoffice$100.31Paidthesalaryoftheofficesecretary,$1,500.Required:Openrelatedaccountsandprepareajournalinthejournalformgivenpreviously.101Begananewlawpracticebyinvesting$10,000incash.

1Rentedtheofficefurnitureandpaidtwomonths’rentinadvance$2,000.DateAccountandexplanationPostRefDebitCredit2009May1Cash10,000Paid-inCapital10,000Investingincashtobeginthebusiness

1PrepaidRent2,000Cash2,000Paidrentfortwomonthsinadvance112Purchasedofficesuppliesoncredit,$800.

8Completedalegalworkforaclientandimmediatelycollect$500cashforthework.DateAccountandexplanationPostRefDebitCredit2009May2OfficeSupplies800AccountsPayable800Purchasedofficesuppliesoncredit.8Cash500LegalFeeEarned500Revenueearnedandcollected.1212PaidfortheofficesuppliesonMay2.

15Completedlegalworkoncredit$1,000.DateAccountandexplanationPostRefDebitCredit2009May12AccountsPayable800Cash800Madepaymentofliability.15AccountsReceivable1,000LegalFeeEarned1,000Revenueearnedandtobereceivedlater.1325Received$1,000forthetransactionon15th.

27OwnerLynettewithdrew$50topayherpersonalbillDateAccountandexplanationPostRefDebitCredit2009May25Cash1,000AccountsReceivable1,000Collectionofaccountsreceivable.27Withdrawals50Cash50Withdrawalsforpersonalexpense.1431Paidthetelephonebilloftheoffice$100.

31Paidthesalaryoftheofficesecretary,$1,500.DateAccountandexplanationPostRefDebitCredit2009May31TelephoneExpense100Cash100Paymentoftelephoneexpense.31SalaryExpense1,500Cash1,500Paymentofsalariesexpense.15Ⅱ.LedgersDefinitionofledger

Formoftheledger

Activities

Proceduresofrecording16Itisusedtoclassifyandsummarizetransactionsandtopreparedataforthefinancialstatements.

Itisavaluablesourceofinformationformanagerialpurposes.Theledgeraccountprovidesameansofbringingtogetheralltheinformationaboutchangesinaspecificasset,liabilityorowner’sequity.

Definitionofledger17LedgerCashAccountNo.101DateItemPostRefDebitCreditBalance2009May110,00010,00012,0008,00085008,500128007,700251,0008,70027508,650311008,550311,5007,050Accounttitle

Formoftheledger18Theprocedureoftransferringthedatainthegeneraljournalaccounttothegeneralledgeraccountiscalledposting.Today,manybusinessareequippedwithcomputerizedaccountingsystem.Postingisdoneautomaticallybythecomputerafterthetransactionshavebeeninputtothecomputer.

Proceduresofposting191.Transferthedateofthetransactionfromthejournaltotheledger.2.Transferthepagenumberfromthejournaltothejournalreferencecolumnoftheledger.3.Postthedebitamountfromthejournalasadebitfigureintheledgeraccount,likewisethecreditamount.4.Entertheaccountnumberinthepostingreferencecolumnofthejournaloncethefigurehasbeenpostedtotheledger.

Proceduresofposting20DateAccountandexplanationPostRefDebitCredit2009May1Cash10110,000Paid-inCapital10,000InvestingincashtobeginthebusinessCashAccountNo.101DateItemPostRefDebitCreditBalance2009May1J.110,00010,000①②③④

Proceduresofrecording21Ⅲ.TrialBalanceTheaimofthetrialbalanceistomakesuretheforeverydebitentry,acorrespondingcreditentryhasbeenmade.Thetotaloftheaccountswithdebitbalanceshouldequalthetotaloftheaccountswithcreditbalance.Double-entrySystemWhy?How?22Trialbalanceispreparedattheendofanaccountingperiodafteralltransactionshavebeenrecordedinordertoseeifthetotaldebitequalsthetotalcredit.When?23Theproceduretopreparethetrialbalance

isasfollows:＊1.Listalltheaccountnamesinthetrialbalanceintheorderofassets,liabilities,owner’sequity,expensesandrevenues.＊2.Transferdebitbalancesfromtheledgeraccounttotheleftcolumnofthetrialbalanceandcreditbalancesintherightcolumn.＊3.Addthedebitsandcreditsandrecordthetotals.＊4.Comparethetotalstoseeiftheareequal.24SonyaPharmacy

TrialBalance

December31,2009AccountsTitleBalance

Cash9,580Accountsreceivable1,000Accountspayable500Capital11,000Withdrawals1,000Salesrevenue2,580Rentexpense900Salaryexpense1,600Total14,08014,080Balance

sheetIncomestatement25AccountsTitleBalance

Cash7,050OfficesuppliesPrepaidrent8002,000Paid-inCapital10,000Withdrawals50Salesrevenue1,500Telephoneexpense100Salaryexpense1,500Total11,50011,500Balance

sheetIncomestatementSonyaPharmacy

TrialBalance

December31,200926SummaryⅠ.Journals1.Definition2.Form3.ProcedureⅡ.Ledgers1.Definition2.Form3.ProcedureⅢ.TrialBalanceWhy?When?How?27AccountingCycle1.Analyzingtransactions2.Makingjournals3.Preparingledgers4.Trialbalance5.Adjusting&closi