西方财务蛤会计3.ppt

3 Part IRecall that JJ’s Lawn Care sold one-half of its repair parts for their original cost, or $150, to ABC Lawns. ABC Lawns agrees to pay the amount due in thirty days.Part IIWill the tools and equipment account increase or decrease? Will the accounts receivable account increase or decrease? Take some time to consider what’s happening in this transaction; then proceed to the next screen. 4 Transactions are initially recorded in the journal rather than the ledger account. The journal records transactions in chronological order. The ledger groups together all transactions that impact a particular account.When preparing a journal entry, always list debit accounts and amounts first and show credit accounts and amounts below the debits, indented slightly.Proper form requires that each journal entry be followed by a short description of the transaction. We skip a line after the description of the transaction before we start our next journal entry. 4 At the end of the accounting period, transactions are posted from the journal into the ledger account. Posting is the process of systematically copying information from the journal to the ledger. Care must be taken when doing so, as it is easy to make mistakes. 4 Part I A journal entry is shown here. Let’s see how to post this information from the journal to the ledger.Part IIFirst, find the proper ledger account. In this case, the cash ledger account.Part IINext, copy the date to the ledger account.Part IVFinally, copy the amount from the debit column in the journal to the debit column in the ledger. Update the balance in the cash account. The current balance is eight thousand dollars.Now, let’s post the credit side of the journal entry. 4 Part IFirst, locate the capital stock account in the general ledger.Part IINext, copy the date from the journal entry to the proper column in the capital stock account.Part IIFinally, copy the amount from the credit column in the journal to the credit column in