会计学原理罗伯特安东尼第二章ANALYZINGANDRECORDINGTRANSACTIONS

1、CHAPTER 2ANALYZlNG AND RECORDING TRANSACTIONSVlSUAL #2-1THREE PARTS QF AN ACCQUNT(1) ACCQUNT TITLELeft SideRight Sidecalledcalled(2) DEBIT(3) CREDITRules for USing acco UntSACCO UntS are assig ned bala nce SideS (Debit Or Credit).To in CreaSe any acco unt, USe the bala nce side.To decrease any acco

2、unt, USe the Side oppoSite the bala nce.Finding acco Unt bala ncesIf total debits = total credits, the accoUnt balance is zero.If total debits are greater than total credits, the accoUnt has a debitbala nce eqUal to the differe nce of the two totals.If total CreditS are greater than total debits, th

3、e accoUnt has aCredit balance eqUal to the difference of the two totals.? 2013 by McGraw-Hill EdUCation. ThiS is PrOPrietary material solely for authorized instructor Use. Not authorized for sale or distribution in any manner. ThiS document may not be COPiedl SCannedl duplicated, forwarded, distribu

4、ted, or POSted on a WebSitel in whole or part.VlSUAL #2-2REALACCoUNTSALL ACCOUNTS ARE ASSIGNED BALANCE SIDESBALANCE SIDES FOR ASSETS, LIABILITIES, ANDEQUIT Y ACCOUNTS ARE ASSIGNED BASED ONSIDE OF EQUATlON THE Y ARE ON.ASSETSLIABILITIES + EQUITYare On theIeft Side of the equati ontherefore they arear

5、e on theright Side of the equati ontherefore they areASSIGNED LEFT SIDEBALANCEASSIGNED RIGHT SIDEBALANCEDEBIT BALANCECREDIT BALANCENormalDebitCreditBala nce+ Side-SideAll ASSet ACCtSAll Liability ACCtSNormalAIl EqUity ACCtSNormalDebit-SideCredit Bala nce + SideDebit-SideCredit Bala nce + Side*In a s

6、ole proprietorship, there is only one equity account, WhiCh is called capital. For that reason, the terms equity and CaPitaI are often USed in tercha ngeably. (Whe n corporati ons are discussed in detail, you will learn many stockholders equity accoUnts.) EqUity is an accoUnt CIaSSifiCation like ass

7、ets. OWner ' S Name, Capital, is the accoUnt title.? 2013 by McGraw-Hill EdUCation. ThiS is PrOPrietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. ThiS document may not be copied, scanned, duplicated, forwarded, distributed, or POSted on

8、 a website, in whole or part.2-1VISUAL #2-3TEMPORARY ACCOUNTSTemPorary accoUntS are established to facilitate efficient accumulatiOn Of data for Statements. TemPOrary accoUntS are established for withdrawals,each revenue, and each expense TemPOrary accoUntS are assignedTemPOrary_Acco UntS Owner, Wit

9、hdrawals* ReVenUesEXPensesEffeCt On eqUity?E or Ebala nces based On how they affect equity(EqUity Acco Unt)Owner' S Name, CaPitaIDebitCredit Bala nce-Side+ SideE = DrE = CrAll Withdrawal ACCtSAll ReVe nUe ACCtSAll EXPe nse ACCtSNormalNormalNormalDebitCreditDebitCreditDebitCreditBala nceBala nceB

10、ala nce+ Side-Side-Side+ Side+ Side-SideE = DrNote:TranSaCtions dUring the PeriOd always inCreaSe the balances of these temporary acco UntS Si nce the tran SaCti on represe nt additi onal withdrawals, revenUes, and expenses.We will later learn how to move these amoUnts back to the real accoUnt they

11、affect CAPITAL. At the end of the acco Unting period, tran Sferri ng withdrawals, reve nU es, and expe nses back to CaPitaI is the main USe for the decrease Side of the temporary acco Un ts.*The“ OWner' Name, WithdraWaIS ”is the accoint title and theCIaSSifiCation of accoUnt is a contra-eqUity.V

12、lSUAL #2-4USING ACCOUNTS - SUMMARYReal Acco UntS2-#AIl ASSet ACCtS Debit + Bala nceAIl Liability ACCtS Credit +Bala nceAIl Equity ACCtS Credit +Bala nceTemPOrary Acco UntSAll WithdraWaIAcco UntSDebit +Bala nceAll ReVe nue Acco UntS Credit + Bala nceRULE REVIEWTran SaCti On an alysis rules? EaCh tran

13、SaCtiOn affects at least 2 acco Un ts.? EaCh tranSaCtion must have equal debits and credits.Gen eral acco Unt USe rules? To inCreaSe any account, USe balance side.? To decrease any account, USe Side opposite the bala nceAll EXPe nse Acco UntS Debit +Bala nce? 2013 by McGraw-Hill EdUCation. ThiS is P

14、rOPrietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. ThiS document may not be COPiedl SCannedl duplicated, forwarded, distributed, or POSted on a WebSitel in whole or part.ChaPter Outl ineNotesI. An alyz ing and ReCQrd ing PrQCeSS StePS in

15、elude:A. An alyz ing each tran SaCt ion and eve nt from SQUrCe docume nts SQUrCe docume ntsare buS in ess PaPerSthat ide ntify and describe econo mic eve nts and tran SaCti ons. Examples: sales tickets, checks, PUrChaSe orders, bills, and bank Stateme nts. SOUrCe docume nts PrOVide ObjeCtiVe and rel

16、iable evide nce about tran SaCti OnSand eve nts.II.III.B. ReCOrd releva nt tran SaCt ions and eve nts in ajour nal.C. Post journal informatiOn to Iedger accounts.D. PrePare and analyze thetrial balance .The Acco Untand its An alysisA. An accoUnt is a record of inCreaSeS and decreases in a SPeCifiC a

17、sset, liability, equity, revenue, or expense item.B. AccoUntS are arranged into three basic CategOrieS based On the accoUnting equation. CategOrieS are:1. ASSetSresources OWned or Controlled by a comPany that have future econo mic ben efit. EXamPIeS in clude Cash, Acco UntS ReCeiVable, Note ReCeiVab

18、le, PrePaid EXPe nses, PrePaid In SUra nce, OffiCe SUPPlies, Store SUPPlies, EqUiPme nt, BUiIdi ngs, and Land.2. LiabiIitieS claims (by CreditOrS) aga inst assets, WhiCh means they are obligati OnS to tran Sfer assets or PrOVide PrOdUCtS or SerViCeS to others. EXamPIeS in clude Acco UntS Payable, No

19、te Payable, Unearned ReVe nu es, and ACCrUed LiabiIities.a. Unearned reve nue reve nue collected before it is ear ned; before SerViCeS or goods are Provided.b. ACCrUed liabilities amounts owed that are not yet Paid.3.EqUity OWner' S claim On comPany' S assets isetqalldorowner' S equityxa

20、mples include OWner' S CaPitaI, OWnerWithdraWaIS (decreases in equity). ReVe nues (results from PrOVidi ng goods or services; i.e. Sales, FeeS Ear ned) in CreaSeS equity. EXPe nses (results from assets or SerViCeS USed inOPeration; i.e. SUPPIieS EXPense) decreases equity.An alyz ing and PrOCeSS

21、ing Tran SaCt ionsA. The general Iedger or Iedger (referred to as the books) is a record Containing all the acco UntS a comPa ny uses.B. The Chart of accoUntS is a list of all accoUntS in the Iedger With their identification numbers.C. A T-accoUnt represents a Iedger accoUntand is a tool USed to Un

22、dersta nd the effects of One or more tra nsacti ons. HaS ShaPe like the Ietter T With accoUnt title on top.? 2013 by McGraw-Hill EdUCation. ThiS is PrQPrietary material solely for authorized instructor use. NQt authorized for sale Qr distributionin any manner. ThiS document may not be CQPied, scanne

23、d, duplicated, forwarded, distributed, Qr PQSted Qn a website, in whole Qr Part.2-7IV. DebitS and CreditSA. The left Side Qf an accoUnt is called the debit side. A debit is an entry on the left Side of an acco unt.B. The right Side of an accoUnt is called the Credit side. A Credit is an entry on the

24、 right Side of an acco unt.C. AccoUntS are assigned balance SideSbaSed On their CIaSSifiCatiOn or type.D. To inCreaSe an account, an amount is PIaCed On thebalance side, and to decreasea n acco unt, the amount is PIaCed On theside opposite its assig ned bala nce SideE. The accoUnt balance is the dif

25、ference between the total debits and the total CreditS recorded in that acco unt. Whe n total debits exceed total CreditS the acco Unt has a debit bala nce. Whe n total CreditS exceed total debits the acco Unt has a Credit bala nce. Whe n two SideS are equal the acco Unt has a zero bala nce.V. Doubl

26、e-E ntry Acco Unting requires that each tran SaCt ion affect, and be recorded in, at least two accoUnts. The total debits must equal total CreditS for each tran SaCti on.A. The assignment of balance SideS (debit or Credit) follows the acco Un ti ng equati on.1. ASSetSare on the left Side of the equa

27、tion; therefore, the left, or debit, Side is the n Ormal bala nce for assets.2. LiabiIitieS and equities are on the right side; therefore, the right, or credit, Side is the normal balance for liabilities and equity.3. Withdrawals, revenues, and expensesreally are Changes in equity, but it is necessa

28、ry to Set UP temporary accoUntS for each of these items to accumulate data for Stateme nts. WithdraWaIS and expe nse acco UntS really represe nt decreases in equity; therefore, they are assigned debit balances.Revenue acco UntS really represe nt in CreaSeS in equity; therefore, they are assig ned Cr

29、edit bala nces.B. Three important rules for recording tranSaCtions in a double-entry acco Un ti ng SyStem are:1. In CreaSeS to assets are debits to the asset acco Un ts. DeCreaSeS to assets are CreditS to the asset acco Un ts.2. In CreaSeS to liabilities are CreditS to the liability acco Un ts. DeCr

30、eaSeS to liabilities are debits to the liability acco Un ts.3. In CreaSeS to equity are CreditS to the equity acco Un ts. DeCreaSeS to equity are debits to the equity acco Un ts.VI. Jour naliz ing and PQSt ing Tran SaCt ionsA. Four StePS in PrOCeSSing tranSaCtions are as follows:Journalizing- The Pr

31、OCeSS of recording each tranSaCtion in a journal.1. Ide ntify tra nsacti On and SOUrCe docume nts.2. Analyze USing the accoUnting equation. (APPlying double entry acco Unting to determ ine acco Unt to be debited and credited.)3. ReCOrd jour nal entry. record Chrono IogiCally (A jour nal gives US a C

32、omPlete record of each tra nsact ion in One Place.)a. A General Journal is the most flexible type of journal because it Can be USed to record any type of tran SaCt ion.b. When a tranSaCtion is recorded in the General Journal, it is called a journal entry . A journal entry that affects more tha n two

33、 acco UntS is called a ComPO Und journal en try.c. EaCh jour nal entry must Contain equal debits and credits.4. Post en try to ledger tran Sfer (or Post) each entry from jour nal to ledger.a. DebitS are POSted as debit, and CreditS as CreditS to the acco UntS ide ntified in the jour nal en try.b. AC

34、tUaI accoUnting SyStemS USe balance column accoUntS rather tha n T-acco UntS in the ledger.c. A bala nce colu mn acco Unt has debit and Credit colu mns for recordi ng en tries and a third colu mn for show ing the bala nce of the acco Unt after each entry is Posted.Note: To See an illustration of ana

35、lyzing, journalizing and PoSting of 16basic tra nsacti OnS refer to PageS 59-64 of the textbook.VII. Trial Bala nceA. A trial balance is a list of accoUntSand their balances at a POintin time.B. The trial balance tests for the equality of the debit and Credit acco Unt bala nces as required by double

36、-e ntry acco Un ti ng.C. Three StePS to PrePare a trial balance are as follows:1. LiSt each acco Untand its amoun t (from the ledger).2. COmPUte the total debit balances and the total Credit balances.3. Verify (PrOVe) total debit balances equal total Credit balances.D. When a trial balance does not

37、balance (the columns are not equal), an error has OCCUrred in one of the following steps:1. PrePari ng the jour nal en tries.2. Posting the journal entries to the ledger.3. Calculat ing acco Unt bala nces.ChaPter Outl ineNotes4. CQPy ing acco Unt bala nces to the trial bala nce.5. Totali ng the tria

38、l bala nce colu mns.(Note: Any errors must be located and COrreCted before PrePari ng the finan cial Stateme nts. Finan cial Stateme nts PrePared from the trial bala nce are actually Un adjusted Stateme nt. The purpose, Contentand format for each Stateme nt WaS PreSe nted in ChaPter 1. The n ext Cha

39、Pter will address adjustme nts)E. COrreCting ErrOrS1. APPrOaCh to COrreCting errors depends On the kind of error and When it is discovered.2. COrreCt ing en tries may be n ecessary.F. PreSe ntati On ISSUeS1. Dollar Sig ns are not USed in jour nals and IedgerS but do appear in finan cial Stateme nts

40、and other reports SUCh as a trialbala nce.2. Usual PraCtiCe On Stateme nts is to PUt dollar Sig ns before the first and last nu mber in each colu mn.3. COmmaS are opti onal except for finan cial reports Were they are always used.4. Companies commonly round in reports to the nearest dollar, or eve n

41、higher levels.VIII. Global VieW COmPareS U.S.GAAP to IFRSA. Analyzing and recording tranSaCtions all transactions in this ChaPter are acco Un ted for ide ntically Un der both systems.B. Financial Statements both SyStemS require the Same 4 basic Stateme nt but there are some differe nces in the PreSe

42、 ntati On SeqUe nce With a give n Stateme nt.C. AccoUnting Controls and assurance SOX Strengthened U.S.Con trol PrOCedUreS that in SUre PrOPer Pri nciple applicati on, hoWever global Sta ndards for con trol and en forceme nt are diverse. ThiS Can yield differe nt outcomes.IX. DeCiSi on An alysis Deb

43、t Ratio:A. Companies finance their assets With either liabilities or equity.B. A company that finances a relatively large portion of its assets With liabilities has a high degree of finan cial IeVerage.(greater risk)C. The debt ratio describes the relatiOnShiP between a company's liabilities and

44、 assets. It is calculated as total liabilities divided by total assets.D. The debt ratio tells US hoW much (What PerCentage) of the assets are financed by CreditOrS (non-own ers), or liability financing. The higher this ratio, the more risk a compa ny faces, because liabilities must be repaid and of

45、te n require regular in terest Payme nts.? 2013 by McGraw-Hill EdUCation. ThiS is PrQPrietary material solely for authorized instructor use. NQt authorized for sale Qr distribution in any manner. ThiS document may not be copied, scanned, duplicated, forwarded, distributed, Qr PQSted Qn a website, in

46、 whole Qr part.2-8Alternate Demonstration ProblemChapter TwoRecord the following transactions of Speedy Computer Service, owned by Bill Smith, for the month of March 2011.March 1. Bill Smith invested $2000 cash in his business.15. Bill provided services and received cash amounting to $5,400 from cus

47、tomers.16. Purchased supplies on account, $100.17. Paid for gas and oil, $880.18. Paid salaries, 5,290.21. Provided service on credit, $600.28. Bill provided services and received cash amounting to $6,000.29. Paid for truck and equipment rental, $2,075.30. Bill withdrew $2000 for personal use.Requir

48、ed:1. Record the above transactions in general journal form.2. Use the trial balance provided to prepare and income statement and a balance sheet. (This trial balance was taken from the general ledger after the posting of properly prepared transactions).3. Explain why the company ' s cash balanc

49、e does not agree with net income.SoIUti on: Alter nate Demon Strati On ProblemChaPter TwoGENERAL JoURNALDATEACCOUNT TITLES AND EXPLANATIONP.R.DEBITCREDITMarCh 1 Cash20 0 000Bill Smith, CaPitaI20 0 00015 C；ash54 0 000SerViCe FeeS Earned54 0 00016 SSupplies1 0 000Acco UntS PayabIe1 0 00017 CJaS and Oi

50、l EXPe nse8 0 000CaSh8 0 00018 SSalaries EXPe nse52 9 000CaSh52 9 00021 AQco UntS ReCeiVabIe6 0 000SerViCe FeeS Earned6 0 00028 C；ash60 0 000SerViCe FeeS Earned60 0 000 I29 Euipme nt Ren tal EXPe nse20 7 500CaSh20 7 500 I30 EL Smith, WithdraWaIS20 0 000CaSh20 0 000? 2013 by MCGraW-Hill EdUCation. ThiS is PrOPrietary material solely for authorized instructor use. Not authorized for sale or distributionin any