《会计英语》课程教学课件（PPT讲稿）Unit 04 Journals, Ledgers & Trial Balance

Unit 4 Journals, Ledgers& Trial BalanceI .JournalsII . LedgersIII. Trial Balance

Unit 4 Journals, Ledgers & Trial Balance Ⅰ.Journals Ⅱ. Ledgers Ⅲ.Trial Balance

Accounting Cycle The sequence of accounting procedures used torecord, classify, and summarize accountinginformation is termed the accounting cycleThe accounting cycle begins with the initialrecording business transactions and concludes withthe preparation of formal financial statements

2 ◼ The sequence of accounting procedures used to record, classify, and summarize accounting information is termed the accounting cycle. ◼ The accounting cycle begins with the initial recording business transactions and concludes with the preparation of formal financial statements. Accounting Cycle

Accounting Cycle1.Analyzingtransactions2.Making7.FinancialjournalsstatementAccountingCycle3.Preparing6.Adjustedledgerstrial balance4.Trial5.Adjustingbalance&closing3

3 Accounting Cycle 1.Analyzing transactions 2.Making journals 3.Preparing ledgers 4.Trial balance 5.Adjusting &closing 6.Adjusted trial balance 7.Financial statement Accounting Cycle

I JournalsDefinitionof journalForm of the journalProcedures of recordingActivities

4 ⅠJournals Definition of journal Form of the journal Activities Procedures of recording

Definition of journalJournal is the book of original entry of businesstransactions recorded in chronological order.RecordingbusinesstransactionSourceAccountsTransactionTransactiondocumentposted toentered inoccurspreparedledgerjournal足贷饭

5 Transaction occurs ◼ Recording business transaction Definition of journal Source document prepared Transaction entered in journal Accounts posted to ledger Journal is the book of original entry of business transactions recorded in chronological order

Form of the journalThe journal records the following information for each transaction:(1)The transaction date(2)The names of the accounts debited and credited(3)An explanation of the transaction(4)The amounts debited and credited to each accountDatePostDebitCreditAccount and explanationRefCash50,000April 350,000Accounts receivable-LarrySales on credit to Larry6

6 ◼ The journal records the following information for each transaction: (1)The transaction date (2)The names of the accounts debited and credited (3)An explanation of the transaction (4)The amounts debited and credited to each account Form of the journal Date Account and explanation Post Ref Debit Credit April 3 Cash Accounts receivable-Larry Sales on credit to Larry 50,000 50,000

Procedures of recordingDatePostDebitCreditAccount and explanationRefApril 3Cash50,00050,000Accounts receivable-LarrySales on Cdit to LarryDateNameofamountaccounts可要看清楚了。借方科目贷方科目

7 Procedures of recording Date Account and explanation Post Ref Debit Credit April 3 Cash Accounts receivable-Larry Sales on credit to Larry 50,000 50,000 Dat e Name of accounts amount

ActivitiesThe following are transaction of Lyntette Muncy LawFirm during the month of May.1 Began a new law practice by investing $10,000 in cash 1 Rented the office furniture and paid two months' rent inadvance $2,000. 2 Purchased office supplies on credit, $800. 8 Completed a legal work for a client and immediatelycollect $500 cash for the work.12 Paid for the office supplies on May 28

8 The following are transaction of Lyntette Muncy Law Firm during the month of May. Activities ◼ 1 Began a new law practice by investing $10,000 in cash. ◼ 1 Rented the office furniture and paid two months’ rent in advance $2,000. ◼ 2 Purchased office supplies on credit, $800. ◼ 8 Completed a legal work for a client and immediately collect $500 cash for the work. ◼ 12 Paid for the office supplies on May 2

15 Completed legal work on credit $1,00025 Received $1,000 for the transaction on 15th27 Owner Lynette withdrew $50 to pay her personal bill.31 Paid the telephone bill of the office $100.31 Paid the salary of the office secretary, $1,500Required: Open related accounts and prepare a journal in thejournal form given previously

9 ◼ 15 Completed legal work on credit $1,000. ◼ 25 Received $1,000 for the transaction on 15th . ◼ 27 Owner Lynette withdrew $50 to pay her personal bill. ◼ 31 Paid the telephone bill of the office $100. ◼ 31 Paid the salary of the office secretary, $1,500. Required: Open related accounts and prepare a journal in the journal form given previously

1 Began a new law practice by investing $10,000 in cash1 Rented the office furniture and paid two months'rent inadvance $2,000.DatePostDebitCreditAccount and explanationRef2009Cash10,000May10,000Paid-in CapitalInvesting in cash to begin the business2,000Prepaid RentCash2,000Paid rent for two months inadvance10

10 1 Began a new law practice by investing $10,000 in cash. 1 Rented the office furniture and paid two months’ rent in advance $2,000. Date Account and explanation Post Ref Debit Credit 2009 May 1 Cash 10,000 Paid-in Capital 10,000 Investing in cash to begin the business 1 Prepaid Rent 2,000 Cash 2,000 Paid rent for two months in advance