Accounting I/II Chapter 2, Section 1.  T- accounts  An accounting device used to analyze transactions  Debit  An amount recorded on the left side.

Slides:



Advertisements
Similar presentations
Analyzing Transactions into Debit and Credit Parts
Advertisements

C2 - 1 Understanding Debits and Credits in Accounting.
An accounting device used to analyze transactions is a called a/an ____________ T ACCOUNT.
Unlocking Financial Accounting Chapter 2 Chapter 2 Recording transactions Learning summary By the end of this chapter you should know: the dual aspect.
Using T Accounts / Analyzing the Accounting Equation
Analyzing Transactions into Debit and Credit Parts.
Week 2.  Lots of transactions occur which affect different accounts.  The business needs to keep track of the different accounts it is accounting for.
Accounting I Understanding the accounting equation, debits, and credits.
Analyzing Transactions into Debit and Credit Parts.
Chapter 5, Section 4 Petty Cash
Recording Adjusting and Closing Entries for a Service Business Chapter 8, Section 3.
 A General Ledger identifies each account individually and includes posted transactions and balances. ◦ Posting is the process of transferring original.
The book (or printout) holding all the accounts
TRANSACTIONS THAT AFFECT ASSETS, LIABILITIES AND OWNER’S CAPITAL Chapter 4.
For Every Debit There Is A Credit OR Debits = Credits.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-1 Focus questions: What is a debit, credit, and T Account? How do these terms relate.
Analyzing Transactions into Debit and Credit Parts
CENTURY 21 ACCOUNTING © Thomson/South-Western Accounting Equation 1 LESSON 2-1 value of all things owned (assets) values of all equities (claims against)
Review: What is the left side of the Accounting Equation called? Assets What is the right side of the Accounting Equation called? Equities: Liabilities.
TRANSACTIONS THAT AFFECT REVENUE, EXPENSES AND WITHDRAWALS Chapter 5.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-1 Using T Accounts Draw the accounting equation on a T account. Identify the two.
A CCOUNTING C HAPTER 2 USING “T” ACCOUNTS Mr. Khatcheressian 09/17/2013.
Posting from a General Journal to a General Ledger Accounting I Chapter 4, Section 2.
Relationship of Revenue, Expenses, and Withdrawals to Owner’s Equity CHAPTER 5.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Chapter 2 Objectives: Define accounting terms related to analyzing transactions into debit.
Analyzing Transactions into debit and credit parts Chapter 3.
Debit & Credit Left side & Right side Accounting equation. Accounts accumulate the results of transactions. Debit are always entered on the left side.
© 2014 Cengage Learning. All Rights Reserved. Do Now: SLIDE 1 LO1 Lesson 2-1 ●What are different ways in which you can get cash? ●What would you consider.
* Debit * An entry recording an amount owed, listed on the left-hand side or column of an account. * Credit * The ability to obtain goods or services.
0 Glencoe Accounting Unit 2 Chapter 4 Copyright © by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 4 Transactions That Affect Assets, Liabilities,
Chapter 4 T-Account-An accounting device used to analyze transactions.
Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO1Show the relationship between the accounting equation and a T account. LO2 Identify.
ANALYZING TRANSACTIONS INTO DEBIT AND CREDIT PARTS CHAPTER 3.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 2-1 Using T Accounts Even though the effects of transactions can be recorded in the.
Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO1Show the relationship between the accounting equation and a T account. LO2 Identify.
CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 2-1 Using T Accounts Original created by M.C. McLaughlin, Thomson/South-Western Modified by Deborah.
CHAPTER 2 Analyzing Transactions into Debit and Credit Parts.
Chapter 2 Analyzing Transaction into Debt and Credit Parts.
Define accounting terms related to analyzing transactions into debit and credit parts Indentify accounting practices related to analyzing transactions.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning Chapter 2 Objectives 1.Define accounting terms related to analyzing transactions into debit.
Chapter 4 Transactions That Affect Assets, Liabilities, and Owner’s Capital What You’ll Learn Calculate the account balances after recording business transactions.
BUSINESS HIGH SCHOOL-ACCOUNTING I
Transactions that Affect Assets, Liabilities, and Owner’s Equity
Analyzing Transactions into Debit and Credit Parts
Using T Accounts / Analyzing the Accounting Equation
Bell Work -Are you enjoying this class so far? -Do you think it is easy or hard? -Is there anything that you don’t understand or are having troubles with?
LESSON 2-1 Using T Accounts
LESSON 2-1 Using T Accounts
Chapter 3 - Analyzing Transactions into Debit & Credit Parts
© 2014 Cengage Learning. All Rights Reserved.
© 2014 Cengage Learning. All Rights Reserved.
What You’ll Learn Prepare a chart of accounts.
Chapter 4.2 Debit/Credit Theory.
Debit & Credit Left side & Right side.
LESSON 2-1 Using T Accounts
Business Accounting Chapter 7.
Chapter One Vocabulary.
Chapter 3 Analyzing Transactions into Debit and Credit Parts
© 2014 Cengage Learning. All Rights Reserved.
© 2014 Cengage Learning. All Rights Reserved.
LESSON 2-1 Using T Accounts
Analyzing Transactions into Debit and Credit Parts
LESSON 2-1 Using T Accounts
Analyzing Transactions into Debit and Credit Parts
LESSON 2-1 Using T Accounts
Balance Sheet Accounts
© 2014 Cengage Learning. All Rights Reserved.
Section 2-1: Using T Accounts
LESSON 2-1 Using T Accounts
LESSON 2-1 Using T Accounts
Presentation transcript:

Accounting I/II Chapter 2, Section 1

 T- accounts  An accounting device used to analyze transactions  Debit  An amount recorded on the left side  Credit  An amount recorded on the right side  Normal balance  The side of an account that is increased  Chart of accounts  A list of accounts used by a business

 Account balances increase on the normal balance side of an account  Account balances decrease on the side opposite the normal balance side of an account

Take out accounting equation paper

Debits must always equal credits Debits are always recorded first

2-1 Work Together and On Your Own Use handout 2-1 Application Problem Complete on

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com. Inc. All rights reserved.