Categories: All - revenue - assets - liabilities - credit

by Alain Garrido 15 years ago

290

Acc Chapter 3 & 4

The text encompasses fundamental accounting principles and processes, emphasizing key financial activities such as recording transactions and preparing financial statements. It outlines the importance of understanding various types of accounts, including assets, liabilities, and stockholder'

Acc Chapter 3 & 4

Acc Chapter 3 & 4

Transaction

Financial Statements
Closing entries

Reduce RE

Transfer NI to RE

Income Summary to RE

Income Statement to Zero

Expenses to Inc Summary

Dr

Revenues to Inc Summary

Cr

Adjusted Trial Balance
Take consideration of the Adjustments
Adjustments
Gnrl' Ledger
First to General Jrnl'
Accruals

Accrued Expenses

N/P

Accrued Revenues

A/R

Deferrals

Unearned Revenues

Prepaids

Trial Balance
Balance Sheet then Income Statement
General Ledger
By account
Gnrl' Journal
By Date
Journal
Journal Entry

Debit

Expenses
Assets

Credit

Dividends
Revenue
Stockholder's equity
Liabilities