(精品)CH02_FA_8e_student (2).ppt

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1、TransactionAnalysisChapter22-1Revised 1/1/2011LearningObjective1AnalyzeTransactions2-2TransactionsAnyeventthatimpactsthefinancialpositionofabusinessCanbemeasuredreliablyTwosides:BusinessgivessomethingBusinessreceivessomethingAccountingrecordsbothsidesofatransaction2-3TheAccountRecordofallchangesinap

2、articularasset,liabilityorequityRemembertheaccountingequationAssets=Liabilities+OwnersEquity2-4CommonAssetAccountsCashAccountsReceivableNotesreceivable2-5CommonAssetAccountsInventoryPrepaidexpensesLand2-6CommonAssetAccountsBuildingsEquipmentFurnitureandFixtures2-7CommonLiabilityAccountsAccountspayab

3、leNotespayableAccruedliabilities2-8EquityAccountsCommonstockRetainedearningsRevenuesExpenses2-9TransactionAnalysisEverytransactionhasatleasttwopartsTheaccountingequationalwaysbalancesbeforeandaftereachtransactionAcommontransactionforanewbusinessistoissuestocktoitsownersHowwouldthisimpacttheaccountin

4、gequation?2-10ExampleTransaction(1)ThreefriendsdecidetostartasalonTheyinvest$50,000tobeginthebusinessThebusinessissuescommonstocktotheowners2-11ExampleTransaction(1),cont.2-12Assets =Liabilities+Stockholders EquityType of Equity TransactionCashCommonstock(1)+$50,000(1)+$50,000IssuedStockExampleTrans

5、action(2)Thesalonpurchaseschairsandmassagetablesfor$12,000cash2-13ExampleTransaction(2),cont.2-14Assets =Liabilities +Stockholders EquityCashSuppliesEquip.AcctspayableCommonstockRetainedearnings(1)+$50,000(1)+$50,000(2)-$12,000(2)+$12,000$38,000+$12,000=$50,000ExampleTransactions(3)Thesalonpurchases

6、hairstylingandothersuppliesonaccountfor$5,0002-152-16Assets =Liabilities +Stockholders EquityCashSuppliesEquip.AcctspayableCommonstockRetainedearnings(1)+$50,000(1)+$50,000(2)-$12,000(2)+$12,000(3)+$5,000(3)+$5,000$38,000$5,000$12,000$5,000$50,000$55,000$55,000ExampleTransactions(3),cont.2-16Example

7、Transactions(4)Thesalonearns$6,000fromprovidingservicestocustomers.Thebusinesscollectedcash2-17ExampleTransaction(4),cont.2-18Assets =Liabilities +Stockholders EquityCashSuppliesEquip.AcctspayableCommonstockRetainedearnings(1)+$50,000(1)+$50,000(2)-$12,000(2)+$12,000(3)+$5,000(3)+$5,000(4)+$6,000(4)

8、+$6,000Revenue$44,000$5,000$12,000$5,000$50,000$6,000$61,000$61,000ExampleTransaction(5)Thesalonpaidmonthlyrentof$4,0002-19ExampleTransaction(5),cont.2-20Assets =Liabilities +Stockholders EquityCashSuppliesEquip.AcctspayableCommonstockRetainedearnings(1)+$50,000(1)+$50,000(2)-$12,000(2)+$12,000(3)+$

9、5,000(3)+$5,000(4)+$6,000(4)+$6,000Revenue(5)-$4,000(5)-$4,000Expense$40,000$5,000$12,000$5,000$50,000$2,000$57,000$57,000S2-2,p.992-21E2-16A,p.1022-22Set up your answer using a table like this.DateCash+AR+Med Supp+Land=AP+NP+CS+RE LearningObjective2UnderstandHowAccountingWorks2-23Double-entryAccoun

10、tingEachtransactionaffectsatleasttwoaccounts2-24TheT-account2-25Account TitleDebits on the left sideCredits on the right sideEvery transaction has both a debit and a creditDebitandCreditRulesDebitandcreditareneutraltermsMeaneitheradecreaseorincreasedependingonthetypeofaccount2-26DebitsandCredits2-27

11、ASSETSLIABILITIESSTOCKHOLDERS EQUITY=+Debit+Credit-Debit-Credit+Debit-Credit+StockholdersEquityDebit&CreditsCommonstockandRetainedEarningsareincreasedbycreditsDividendsreduceRetainedEarningsDividendsareincreasedbydebitsNetincomeincreasesRetainedEarningsNetIncome=RevenuesminusExpensesRevenuesareincre

12、asedbycreditsExpensesareincreasedbydebits2-28RulesofDebitandCredit2-29Stockholders EquityDebitAssetsLiabilitiesCreditCreditDebitCommon stockRetained earningsRevenueExpensesDividends-CreditCreditCreditCreditCreditDebitDebitDebitDebitDebit-DebitsandCreditsDebit to increaseAssetsDividendsExpensesCredit

13、s to increaseLiabilitiesRevenueCommonstockRetainedearnings2-30PracticingDebitsandCreditsIncreasecashIncreaseaccountspayableDecreaseaccountsreceivableIncreaserevenue2-31PracticingDebitsandCreditsIncreaserentexpenseIncreasecommonstockDecreasenotespayableDecreasecash2-32S2-3,p.992-33LearningObjective3R

14、ecordTransactionsintheJournal2-34TheLedger2-35LedgerCashAccounts payableCommon stockIndividual asset accountsIndividual liability accountsIndividual equity accountsCopyright 2010 Pearson Education Inc.Publishing as Prentice Hall.35TheJournalChronologicalrecordoftransactionsThreesteps1.Identifyaccoun

15、tsimpactedbytransaction2.Applydebit/creditrulesfortheincreaseordecreaseintheaccountsYoushouldhaveatleastonedebitandonecredit3.Recordtransactionsinjournal2-36JournalentryWritetheaccountdebitedfirstandtheamountintheleftcolumnWrite(andindent)theaccountcreditednextandtheamountintherightcolumnDebits must

16、 equal credits2-37FlowofAccountingData2-3838E2-18A,p.1032-39Journal entries look like this:JournalDATEACCOUNT TITLES AND EXPLANATIONDEBITCREDITPostingTransferringinformationfromthejournaltotheledgerThecollectionofaccountsandtheirbalances2-40Posting2-41JOURNALDateAccountsDebitCredit6-Apr Cash$2,000 S

17、ervicerevenue$2,000CASHSERVICE REVENUE$2,000$2,000FlowofAccountingDataTransactionoccursTransactionanalyzedAccountsidentifiedDebit/CreditrulesappliedTransactionrecordedintheJournalAmountspostedtotheLedger2-42DeterminingAccountBalanceAftertransactionsareposted,theamountineachledgeraccountiscomputedThe

18、debitsideandcreditsidearetotaledThedifferencebetweenthetwosidesiscomputedIfthedebitsideislarger,theaccounthasadebitbalanceIfthecreditsideislarger,theaccounthasacreditbalance2-43DeterminingAccountBalance2-44Cash$10,000$15,000$8,000$12,000$7,000The debits total to$33,000The credits total to$19,000$14,

19、000Cash has a debit balance of$14,000($33,000-$19,000)E2-20A,p.1032-45LearningObjective4UseaTrialBalance2-46TrialBalanceListsallaccountswiththeirbalanceDebitamountsintheleftcolumnCreditamountsintherightcolumnBeginswithassets,thenliabilitiesandstockholdersequityThecolumnsaretotaledandshouldequaleacho

20、therShowsifdebitsequalcredits2-47CorrectingAccountingErrors2-48TraceeachaccountfromjournaltoledgerReversingdebitsandcreditsdoublestheerrorMissingaccountIfeven,errormaybeaSlideorTranspositionDivideout-of-balanceamountby2Divideout-of-balanceamountby9ChartofAccountsEachaccountisassignedanumberAssetsusu

21、allybeginwith1100sor1000sLiabilitiesusuallybeginwith2200sand200sStockholdersEquity(CommonStock,DividendsandRetainedEarnings)beginwith3Revenueswith4andExpenseswith52-49ChartofAccounts2-50Balance Sheet AccountsAssetsLiabilitiesStockholders Equity101Cash201Accts.payable301Common stock111Accts.receivabl

22、e231Notes payable311Dividends141Office supplies312Retained earnings151Office furnitureIncome Statement Accounts191LandRevenuesExpenses401Service revenue501Rent expense502Salary expense503Utilities expenseNormalBalanceWhatincreasestheaccount(debitorcredit)isthenormalbalanceAssetsareincreasedbydebits,

23、soassetshaveanormaldebitbalanceIfthebalanceisnot“normal”,itindicatesanegativeamountIfcashhasacreditbalance,itmeansthecompanyhasoverdrawnitsbankaccount2-51NormalBalancesDEBITSAssetsDividendsExpensesCREDITSLiabilitiesRetainedEarningsCommonStockRevenues2-52E2-21A,p.1032-53LearningObjective5AnalyzeTrans

24、actionsusingonlyT-Accounts2-54T-AccountsAquickinformalanalysisHelpsusersoffinancialinformationmakedecisions2-55AnalyzingAccounts2-56CashBeginning balanceEnding balanceCash receipts?Cash paymentsAnalyzingAccounts2-57Accounts receivableBeginning balanceEnding balanceSales on account?Collections on accountAnalyzingAccounts2-58Accounts payable Beginning balanceEnding balancePayments on account?Purchases on accountE2-37,p.1082-59S2-13,p.1012-60EndofChapterTwo2-61