Central Queensland UniversityACCT11059 Using Accounting for Decision Makinglecture note 1.pptxVIP

WEEK 2 – Recording business transactions ACCT11057 – PRINCIPLES OF ACCOUNTING Use accounting terms Apply the rules of debit and credit Record transactions in the journal Post from the journal to the ledger Prepare and use a trial balance Learning Objectives Accounting Terms Account Ledger Assets Liabilities Owners’ equity Double-entry accounting T-account Journal Trial balance Cash Accounts Payable Paula Lee, Capital Ledger All individual accounts combined make up the ledger. Individual asset accounts Individual liability accounts Individual owners’ equity accounts Accounting Terms Classific