会计英语unit4_Journals,_Ledgers__Trial_Balance教材教学课件.pptVIP

* * Unit 4 Journals, Ledgers Trial Balance Ⅰ.Journals Ⅱ. Ledgers Ⅲ.Trial Balance The sequence of accounting procedures used to record, classify, and summarize accounting information is termed the accounting cycle. The accounting cycle begins with the initial recording business transactions and concludes with the preparation of formal financial statements. Accounting Cycle Accounting Cycle 1.Analyzing transactions 2.Making journals 3.Preparing ledgers 4.Trial balance 5.Adjusting closing 6.Adjusted trial balance 7.Financial statement Accounting Cycle ⅠJournals Definition of journal Form of the journal Activities Procedures of recording Transaction occurs Recording business transaction Definition of journal Source document prepared Transaction entered in journal Accounts posted to ledger Journal is the book of original entry of business transactions recorded in chronological order. The journal records the following information for each transaction: (1)The transaction date (2)The names of the accounts debited and credited (3)An explanation of the transaction (4)The amounts debited and credited to each account Form of the journal Date Account and explanation Post Ref Debit Credit April 3 Cash Accounts receivable-Larry Sales on credit to Larry 50,000 50,000 Procedures of recording Date Account and explanation Post Ref Debit Credit April 3 Cash Accounts receivable-Larry Sales on credit to Larry 50,000 50,000 Date Name of accounts amount The following are transaction of Lyntette Muncy Law Firm during the month of May. Activities 1 Began a new law practice by investing $10,000 in cash. 1 Rented the office furniture and paid two months’ rent in advance $2,000. 2 Purchased office supplies on credit, $800. 8 Completed a legal work for a client and immediately collect $500 cash for the work. 12 Paid for the office supplies on May 2. 12 Paid for the office supplies on May 2.15 Completed legal w