世纪行业英语系列教程.pptVIP

21世纪行业英语系列教程;Unit 2 Accounting Cycle-1 会计循环1;Unit 2 Accounting Cycle-1 会计循环1 ;1.Starter—— Debit and credit in accounts ;Vocabulary;Phrases and Expressions;1.Starter— Debit and credit in accounts ;;2. The chart of accounts ;Vocabulary;Vocabulary;Phrases and Expressions;2. The chart of accounts ;3.The rule of debit and credit ;Vocabulary;Vocabulary;Phrases and Expressions;3.The rule of debit and credit ;Owners equity;Owners equity;Tapescript ;The rule of debit and credit ;2. ;4.Journal ;Vocabulary;Phrases and Expressions;4.Journal ;David: Take it easy. We can find some examples. Here is Exercise 1. The first transaction is the owner, Amy Schneider, who invested $30,000 to start a consulting firm. Firstly, the asset and equity accounts will be affected. And secondly, both are increased. Cash and owner’s capital are both increased by $30,000. Just try, Amy! Amy: OK. We use debit for increases in asset and credit for increases in equity. It can be journalized as debit cash and credit owner’s capital. David: Look! You can do it. Passive voice is also used, we can say “cash is debited and owner’s capital is credited.” Amy: Now we can prepare the journal. The date will be entered firstly, December 1. And then the debit account title “Cash” should be written down, after that is the credit account title “Amy Schneider, Capital”. Equal debit and credit amounts of $30,000 should be entered in the Debit and Credit column. The professor said the explanation could be omitted for simplicity’s sake. David: Well done. By the way, please indent the credit line of each journal entry. ;Hints: Journal is listed below: Transactions: Dec 1 The owner, Amy Schneider, invested $30,000 to start a consulting firm. Dec 2 She purchased $26,000 of furniture, $20,000 with cash, and the remainder by issuing a note. Dec 3 She purchased suppli