基础会计(英文版)(第二版)Chapter02AccountingCycleIJournalizingPostingandPreparingTrialBalance

,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Chapter 2,Accounting Cycle(I)Journalizing,Posting and Preparing Trial Balance,Accounting Cycle,Accounting cycle,:,a sequence of accounting procedures which are repeated continuously during each,accounting period.,An accounting period/fiscal period:,any span of time covering a complete accounting cycle.,An accounting year/fiscal year:,an accounting period composed of twelve consecutive months.,Accounting Cycle,journalize business,transactions,post journal entries,to ledger accounts,prepare a,trial balance,complete a,work sheet,prepare,financial statements,journalize and post,the adjusting entries,journalize and post,the closing entries,prepare a,post-closing,trial balance,The General Journal,A,journal,:,a book in which all business transactions are initially recorded.,The process of recording business transactions in the journal is called,journalizing,.,The simplest form of journal is called a,general journal,.,DATE,DESCRIPTION,POST,REF.,DEBIT,CREDIT,GENERAL JOURNAL,PAGE,The General Journal,The General Ledger,General ledger,:,a book containing all the,ledger accounts,of a business.,DATE,ITEM,POST REF.,DEBIT,CREDIT,BALANCE,DEBIT,CREDIT,GENERAL LEDGER,ACCOUNT ACCOUNT NO.,The Chart of Accounts,Chart of accounts,:,the official list of all the accounts and their account numbers.,e.g.,Guangli Services,Chart of Accounts,Assets(100-199)Owners Equity(300-399),111Cash 311Li,Capital,112Accounts Receivable 312Li,Drawing,113Prepaid Insurance,121Trucks Revenue(400-499),123Equipment 411Income from Services,125House,Expenses(500-599),Liabilities(200-299)511Gas Expense,211Accounts Payable 512Utilities Expense,513 Wages Expense,Posting to the General Ledger,Posting:,The process of transferring the journal entries from the journal to ledger accounts.,Generally,we follow four steps:,Enter the date of transaction;,Enter the amount of transaction and the new balance of the account;,Insert the page number of the journal in the Posting Reference column of the ledger account(cross-reference);,Insert the ledger account number in the Posting Reference column of the journal.,GENERAL JOURNAL,PAGE,DATE,DESCRIPTION,POST,REF.,DEBIT,CREDIT,200,Jan.,1,Cash,111,1000,0,0,0,00,Li,Capital,1000,0,0,0,00,Original investment by Mr.Li in Guangli Services.,GENERAL LEDGER,ACCOUNT Cash ACCOUNT NO.111,DATE,ITEM,POST REF.,DEBIT,CREDIT,BALANCE,DEBIT,CREDIT,200Jan.,1,1,1000,0,0,0,00,1000,0,0,0,00,1,e.g.,After all the transactions posted from the journal,we can form,a completer ledger,.(An example can be seen on p35-38.),A trial balance,(referred to Chapter 1)can be prepared to help you prove the equality of total debit amounts and total credit amounts.,Posting to the General Ledger,Guangli Services,Trial Balance,January 31,200,DEBIT,CREDIT,Cash,444 450,Accounts Receivable,1 300,Prepaid Insurance,3 600,Trucks,240 000,Equipment,9 000,House,360 000,Accounts Payable,40 000,Li,Capital,1 000 000,Li,Drawing,500,Income from Services,28 300,Gas Expense,200,Utilities Expense,250,Wages Expense,9 000,1 068 300,1 068 300,e.g.,