Beruflich Dokumente
Kultur Dokumente
- an accounting device used in summarizing the changes in the A, L, and P caused by the business transactions and events.
CHART OF ACCOUNTS – a classified list of account titles is prepared for the use of the bookkeeper.
The accounting cycle, also commonly referred to as accounting process, is a series of procedures in the collection, processing, and communication
of financial information.
As defined in earlier lessons, accounting involves recording, classifying, summarizing, and interpreting financial information.
JOURNAL – the accounting book wherein the business transactions and events are recorded for the first time. It is called book of original entry.
There are various kinds of journal records – cash journal, sales journal, purchases journal, and general journal.
The simplest form of journal is the two-column journal. It is the form which is commonly used for a journal record called the General Journal.
For each transaction, the GJ provides spaces for recording the following information:
1. the date of the transaction;
2. the titles of the accounts involved;
3. the amount or amounts of the transaction;
4. the page of the ledger to which the entry is later transferred; and,
5. an explanation in brief cut concise, and comprehensible statement.
The process of recording the business transaction or event in the GJ is called JOURNALIZING.
PROCEDURES IN JOURNALIZING:
1. The year is written in small figures at the top of the date column.
2. Under the date column, the month of the first transaction is written on the same line as the transaction. The name of the month is NOT
written repeatedly on the same page. Where the month changes, the new month should be written. Every page of the journal should bear
the name of the month in the date column of the transaction first recorded on said page.
3. The day of the transaction is written on the right sub-column of the date column. It is repeated for every transaction occurring on the same
day.
4. The title of the account debited is written on the extreme left of the explanation column and its corresponding amount on the money column
at the left.
5. The title of the account credited is written on the following line and is indented for about one half inch to the right of the debit and its
corresponding amount is place on the money column at the right.
6. The explanation is written on the next line after the last credit entry. This is additional indention to the right by one-half inch.
7. Between entries there must be left a single line spacing.
8. The folio (F) or post reference column is used to indicate the page of the ledger to which the entry is transferred.
POSTING – the process of transferring to the ledger the same information recorded in the journal.
CAPITAL
Mika Aereen, Capital
Mika Aereen, Personal
TRANSACTIONS
June 1, 2016 Desiree Cheng open a printing press called the “Let us Copy and Print”, with the capital composed of:
Cash P 1,000,000.00
Printing Supplies 20,000.00
Printing Equipment 400,000.00
June 6, 2016 Received P 3,000.00 cash for the receipt printed to various customers.
Sent charge bill, P 2,000.00 for vouchers printed and delivered on credit to the MR3 Corporation.
June 10, 2016 Bought printing supplies on credit from ERM Supply Store, P 1,500.00
June 15, 2016 Sent charge bills for receipts and vochers delivered on credit to:
Tyang Aby’s Cafe P 2,000.00
KKD Hotel 2,500.00
Paid two week’s salary of the employees, P 5,000.00
June 25, 2016 Received 2,200.00 cash for the documents printed and delivered to various customers.
Paid 900.00 to ERM Supply Store in partial payment of the debt owing to it.
Desiree Cheng withdrew 500.00 cash for her personal use.
June 27, 2016 Paid 700.00 to repairman for the repair service on the printing equipment.