1. PB 5

2. think there are two parts to every entry what did the Co. receive
what did it give up

3. for each part of the entry - think
will this go on the
income statement
balance sheet

6. for each part of the entry - think
is this a(n)
revenue (sales)
expense
asset
liability
contribution from the owner

7. Accounting cycle general journal - recording general ledger - posting
adjusting journal entries
trial balance
financial statements

8. general journal - recording
the general journal is a diary
it is in chronological order
in the order transactions or events occur

13. general ledger - posting
the general ledger is an account
your checkbook is an account
it shows increases in the account balance
decreases in the account balance
the balance in the account

45. trial balance a list of all the accounts
and the balance in each account