会计学原理PPTChap002.pptVIP

Conceptual Learning Objectives C1: Explain the steps in processing transactions and the role of source documents C2: Describe an account and its use in recording transactions C3: Describe a ledger and a chart of accounts C4: Define debits and credits and explain double-entry accounting Analytical Learning Objectives A1: Analyze the impact of transactions on accounts and financial statements Procedural Learning Objectives P1: Record transactions in a journal and post entries to a ledger P2: Prepare and explain the use of a trial balance P3: Prepare financial statements from business transactions Analyzing Transactions A 1 Analyzing Transactions A 1 After processing its remaining transactions for December, FastForward’s Trial Balance is prepared. P 2 Preparing the Trial Balance Preparing a trial balance involves three steps: List each account title and its amount (from ledger) in the trial balance. If an account has a zero balance, list it with a zero in the normal balance column (or omit it entirely). Compute the total of debit balances and the total of credit balances. Verify (prove) total debit balances equal total credit balances. P 2 Searching for and Correcting Errors If the trial balance does not balance, the error(s) must be found and corrected. ?Make sure the trial balance columns are correctly added. ?Make sure account balances are correctly entered from the ledger. ?See if debit or credit accounts are mistakenly placed on the trial balance. ?Re-compute each account balance in the ledger. ?Verify that each journal entry is posted correctly. ?Verify that each original journal entry has equal debits and credits. P 2 The trial balance may balance even when a transaction is not journalized, a correct journal entry is not posted, a journal entry is posted twice, incorrect accounts are used in journalizing or posting, or offsetting errors are made in recording the amount of a transaction. Limitations of a Trial Balance P 2 Using a Trial Balance to Prepar