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31

會計週期:

捕捉經濟事件

第 3 章

3-2

是錄製中使用的步驟序列,

定期對會計資訊進行分類和匯總。

從初始記錄開始,到一組財務報表結束。

 ‘

cycle' – 不斷重複步驟以保持最新的報告

會計週期

32

3-3

一般包括8個具體步驟

1.

將交易記錄記入日記帳

2.

將每個日記帳條目過帳到會計科目

3.

準備未調整的試算表

4.

製作期末調整分錄

(日記和過賬調整分錄)

5.

準備調整后的試算表

6.

編製財務報表

7.

將分錄記入日記並過帳結算分錄

8.

準備結算後試算表

會計週期

第 3 章

第 5 章

第 4 章

3-4

會計記錄的作用(閱讀第 92 頁)

企業的經理和員工經常將會計記錄中存儲的資訊用於以下用途:

1.

對個人控制的資產和/或交易建立問責制。

2.

跟蹤日常商務活動。

3.

獲取有關特定交易的詳細資訊。

4.

評估組織內各個部門的效率和績效。

5.

保存公司商務活動的書面證據。例如,稅法要求公司維護會計記錄,以支援納稅申報表中報告的金額。

 會計記錄是指提供企業或組織財務交易和活動詳細記錄的檔或分錄。

 會計記錄用於準備財務報表、完成所得稅申報表和創建其他報告。

33

3-5

會計記錄的作用(閱讀第 92 頁)

建立對資產和交易的問責制。

跟蹤日常商務活動。

獲取有關特定交易的詳細資訊。

評估公司內部的效率和績效。

保存公司商務活動的證據。

3-6

帳本

Cash

帳戶

支付

共用

資本

 整個集團

帳戶一起保存在稱為分類賬的會計記錄中。

 帳戶 (帳戶) 是

顯示特定資產、負債、權益、收入或費用專案的增加和減少的單個記錄。 May 也稱為「分類賬」。。

34

3-7

帳戶的使用

T-account 代表一個會計科目,是用於瞭解一個或多個交易的影響的工具。

(左側)(右側)借方 (DR) 貸方 (CR)

+/-

+/-

帳戶名稱

T-account 的左側始終稱為借方,右側始終稱為貸方。

 在 T 帳戶的一側記錄增加,在另一側記錄減少。

一個帳戶具有

3 元素

3-8

A = L + E

資產

借方

for

增加

信用

for

減少

股票

借方

for

減少

信用

for

增加

負債

借方

for

減少

信用

for

增加

借方和貸方對賬戶的影響如下:

借方和貸方分錄

問題:哪一方(借方或貸方)的記錄增加或減少?

答: 這取決於該特定帳戶的性質(即。資產、負債、權益、收入或費用)。

35

3-9

A = L + E

借方

平衡

信用

平衡

=

在複式記賬系統中,每筆交易都由等額的借方和貸方記錄。

複式記帳法借方和貸方的相等性

複式記帳系統的兩條規則如下:

每筆交易至少影響兩個帳戶。

總借款必須等於總貸方(對於對帳戶的每個借方分錄,將對相應的帳戶進行貸方分錄)

3-10

讓我們記錄

選擇

交易

用於 JJ's Lawn

帳戶中的護理服務。

36

3-11

Transaction (交易 ) 分析 – 第 2 章,幻燈片 13

負債

負債

公平

資產

資產

=

+

分析交易的步驟

Each transaction must at least have 2 effects on the equation. 

Decide what accounts** are affected by the transaction. Decide what elements they belong to (assets, liabilities, owners’ equity, revenue, expenses). 

 Determine if the transaction will increase or decrease the account. 

 Determine Debit/Credit. 

 The accounting equation MUST remain in balance after each 

transaction 

 Total Debit = Total Credit 

 1 May: Jill Jones and her family invested $8,000 cash in JJ’s Lawn Care Service in exchange for 800 shares. 

Will Cash increase 

or decrease? 

Will Share Capital increase or decrease? 

Share Capital 

1/5 8,000

Cash

1/5 8,000

Cash increases $8,000 with a debit. 

Share Capital 

increases $8,000 

with a credit. 

3-12

Total debits = Total credits 

37

 2 May: JJ’s purchased a riding lawn mower for $2,500 cash. 

Will Cash increase 

or decrease? 

Will Tools & 

Equipment increase 

or decrease? 

Tools & Equipment 

2/5 2,500

Cash

1/5 8,000

2/5 2,500

Cash decreases $2,500 with a credit. 

Tools & Equipment 

increases $2,500 

with a debit. 

3-13

Total debits = Total credits 

 8 May: JJ’s purchased a $15,000 truck. JJ’s 

paid $2,000 in cash and issued a note payable for the remaining $13,000. 

Will Truck increase 

or decrease? 

Will Cash and 

Notes Payable 

increase or 

decrease? 

Truck 

8/5 15,000

Cash

1/5 8,000

2/5 2,500

8/5 2,000

Notes Payable 

8/5 13,000

Truck increases $15,000 with a debit. 

Cash decreases $2,000 with a credit. 

Notes Payable 

increases $13,000 

with a credit. 

3-14

Total debits = Total credits 

38

 11 May: JJ’s purchased some repair parts for $300 on account (賒帳) . 

Will Tools & 

Equipment increase 

or decrease? 

Will Accounts 

Payable increase or 

decrease? 

Tools & Equipment 

increases $300 with 

a debit. 

Accounts Payable 

increases $300 with 

a credit. 

Tools & Equipment 

2/5 2,500

11/5

300

Accounts Payable 

11/5

300 3-15

Total debits = Total credits 

 18 May: JJ’s sold half of the repair parts to ABC Lawns for $150, a price equal to JJ’s cost. 

ABC Lawns agrees to pay JJ’s within 30 days. 

Will Tools & 

Equipment increase 

or decrease? 

Will Accounts 

Receivable increase 

or decrease? 

Tools & Equipment 

decreases $150 with 

a credit. 

Accounts Receivable 

increases $150 with 

a debit. 

Tools & Equipment 

2/5 2,500 18/5 150

11/5

300

Accounts Receivable 

18/5

150

3-16

Total debits = Total credits 

39

3-17

Generally consists of eight specific steps 

1. Journalize (record) transactions 2. Post each journal entry to ledger accounts 3. Prepare an unadjusted trial balance 

4.

Making end of period adjusting entries 

(journalize and posting adjusting entries) 

5.

Prepare adjusted trial balance 

6.

Prepare financial statements 

7.

Journalize and post closing entries 

8.

Prepare after-closing trial balance 

Accounting Cycle 

Chapter 3 

STEP 1: JOURNALIZE THE TRANSACTIONS 

310

3-19

1. Journalizing (recording transactions)   

is the process of entering transactions into the 

journal 

Journal entry - an analysis of the effects of a transaction on the account. This analysis identifies the accounts to be debited and credited ◦ Debit is always the left side! ◦ Credit is always the right side!  keep track of and record transactions in a systematic manner 

3-20

In an actual accounting system, transactions are initially recorded in the journal. 

GENERAL JOURNAL 

Date Account Titles and Explanation Debit Credit 2009 

1

May Cash  

8,000

Share Capital  

8,000

Owners invest cash in the business. 

The Journal 

1.

Enter transaction date 

2.

Always list debit accounts and amounts first and show credit accounts and amounts below the debits, indented slightly. 

3.

Each journal entry be followed by a short description of the transaction. 

4.

Skip a line after the description of the transaction before the start of next journal entry. 

Steps: 

311

STEP II: POSTING 

JOURNAL ENTRY TO 

LEDGER ACCOUNTS 

3-22

2. Post each journal entry to ledger accounts (at the end of accounting period) 

Posting simply means updating the 

ledger accounts for the effects of 

the transactions recorded in the journal. 

 Useful to calculate the account balances. 

KEY POINT 

In manual accounting systems, this can be a tedious and timeconsuming process, but in computer-based systems, it is done instantly and automatically. In addition, computerized posting greatly reduces the risk of errors. 

312

3-23

GENERAL JOURNAL 

Date

Account Titles and Explanation  

Debit  

Credit 

2009

1

May Cash  

8,000

Share Capital  

8,000

Owners invest cash in the business. 

General Ledger 

Cash

Date Debit Credit Balance 2009 

1

May

8,000

8,000

Posting Journal Entries to the Ledger Accounts 

1

2

3

4 3-24

GENERAL JOURNAL 

Date Account Titles and Explanation Debit Credit 2009 

1

May Cash  

8,000

Share Capital  

8,000

Owners invest cash in the business. 

General Ledger 

Share Capital 

Date Debit Credit Balance 2009 

1

May

8,000

8,000

Posting Journal Entries to the Ledger Accounts 

1

2

3

4

314

3-27

Normal Balance 

The normal balance of an account is on the side where an increase in the account is recorded. 

3-28

General Ledger 

Cash

Date Debit Credit Balance 2009 

1

May 8,000  

8,000

2

2,500

5,500

T accounts are simplified versions of the ledger account that only show the debit and credit columns. 

Ledger Accounts After Posting 

315

3-29

Cash

5/1 8,000 5/2 2,500 5/25 75 5/8 2,000 5/29 750 5/28

150

5/31

50

5/31 4,125

Bal.

Receipts 

are on the 

debit side. 

$8,825

Payments 

are on the 

credit side. 

$4,700

An account balance is the difference between all the debit and credit entries in the account at any particular time. 

Debit and Credit Entries 

Balance is on the side with the larger 

number 

T accounts format 

3-30

Profit is not an asset (Revenue – Expense) it’s an increase in equity from profits of the business. 

A = L + E 

Increase  

Decrease 

As income is earned, either an asset is increased or a liability is decreased. 

Increase 

Profit always results in the increase of 

Equity (by 

increasing Retained 

Earnings) 

What is Profit? 

316

3-31

A = L + E 

Retained Earnings 

Share 

Capital 

Retained 

Earnings 

(Profit – 

Dividends) 

The balance in the Retained Earnings account represents the profit (Revenue – Expense) of the corporation over the entire lifetime of the business, less all amounts which have been distributed to the shareholders as dividends. 

3-32

JJ's Lawn Care Service Income Statement For the Month Ended 31 May 2009 

Sales Revenue  

750

$

Operating Expense: 

Gasoline Expense  

50

Profit  

700

$

The income statement summarizes the profitability of a business for a specified period of time. 

The Income Statement: A Preview 

317

Debit and Credit Effects on Accounts in the 

Expanded Accounting Equation 

Shareholders’ Equity

Share Capital

3-33

Basic Accounting Equation A = L + OE 

Expanded Accounting Equation A = L + OE + (R – E – D) 

3-34

Revenue and Expenses 

The price for 

goods sold 

and services 

rendered during a 

given accounting 

period. 

Increases equity 

(through retained 

earnings). 

The costs of 

goods and 

services used up 

in the process of earning revenue. 

Decreases equity 

(through retained 

earnings). 

.

318

3-35

Debit and Credit Rules for Revenue and Expenses 

EQUITIES 

Debit 

for

Decrease 

Credit 

for

Increase 

Expenses 

decrease equity. 

Revenues 

increase equity. 

EXPENSES 

Credit 

for

Decrease 

Debit 

for

Increase 

REVENUES 

Debit 

for

Decrease 

Credit 

for

Increase 

3-36

EQUITIES 

Debit 

for

Decrease 

Credit 

for

Increase 

Payments to 

owners 

decrease equity. 

Owners’ 

investments 

increase equity. 

DIVIDENDS 

Credit 

for

Decrease 

Debit 

for

Increase 

Dividends 

SHARE CAPITAL 

Debit 

for

Decrease 

Credit 

for Increase 

319

3-37

Debit and Credit Effects on Each Account Type 

 A simple memory aid to remember which accounts increase with debits and which with credits. 

A = L + OE + (R – E – D) 

A + E + D = L + OE + R 

3-38

Summary - Rules of DR & CR 

DEBIT DR 

Assets 

Expenses 

Dividends 

Increase 

DEBIT DR 

Liabilities 

Owner’s Equity 

Revenues 

Decrease 

CREDIT CR 

Assets 

Expenses 

Dividends 

Decrease 

CREDIT CR 

Liabilities 

Owner’s Equity 

Revenues 

Increase 

320

3-39

Let’s analyze the 

revenue and 

expense 

transactions for 

JJ’s Lawn Care 

Service for the 

month of May. 

We will also 

analyze a dividend 

transaction. 

 29 May: JJ’s provided lawn care services for a client and received $750 in cash. 

Will Cash increase 

or decrease? 

Will Sales Revenue increase or decrease? 

Sales Revenue 

29/5

750

Cash increases 

$750 with a debit. 

Sales Revenue 

increases $750 with 

a credit. 

Cash

1/5 8,000 2/5 2,500 25/5 75 8/5 2,000 29/5 750 28/5 150

3-40

321

 31 May: JJ’s purchased gasoline for the lawn mower and the truck for $50 cash. 

Will Cash increase 

or decrease? 

Will Gasoline 

Expense increase or 

decrease? 

Gasoline Expense 

31/5

50

Cash decreases $50 

with a credit. 

Gasoline Expense increases $50 with a debit. 

Cash

1/5 8,000 2/5 2,500 25/5 75 8/5 2,000 29/5 750 28/5 150

31/5

50

3-41

 31 May: JJ’s Lawn Care paid Jill Jones and her family a $200 dividend. 

Will Cash increase 

or decrease? 

Will Dividends increase or decrease? 

Dividends 

31/5

200

Cash decreases 

$200 with a credit. 

Dividends increase 

$200 with a debit. 

Cash

1/5 8,000 2/5 2,500 25/5 75 8/5 2,000 29/5 750 28/5 150

31/5 50

31/5

200

3-42

322

STEP III: PREPARE 

UNADJUSTED TRIAL 

BALANCE 

3-44

3.Trial Balance 

Once all transactions have been posted to the ledger, a trial balance is prepared. 

 Trial balance - a list of all of the accounts with their balances. 

To help check on accuracy of posting by proving whether the total debits equal the total credits. 

 To establish a convenient summary of 

balances in all accounts for the 

preparation of formal financial statements. 

323

3-45

Now, let’s look at 

the Trial Balance 

for JJ’s Lawn 

Care Service for 

the month of May. 

3-46

JJ's Lawn Care Service 

Unadjusted Trial Balance 

31 May 2009 

DR

CR

Cash

3,925

$

Accounts receivable 75 Tools & equipment 2,650 Truck 15,000 Notes payable 13,000 

$

Accounts payable  

150

Share capital  

8,000

Dividends  

200

Sales revenue  

750

Gasoline expense  

50

Total  

21,900

$

21,900

$

All balances are taken from the ledger accounts on 31 May after considering all of JJ’s transactions for the month. 

Total debit balance = total credit balance according to the rules of double-entry accounting. 

324

3-47

Accounting Periods (p104) 

Time Period Principle To provide users of financial statements with timely information, profit is measured for relatively short accounting periods of equal length. 

 This principle allows the life of a company to be divided into artificial time periods such as months and years so that profit can be measured for a specific period of time (e.g., monthly, quarterly, annually).  Without this principle, a company’s income statement could only be reported at the end of its life. 

3-48

The Recognition Principle: When to record Revenue (p104) 

Recognition Principle Revenue should be recognized at the time goods are sold and services are rendered, regardless of when cash is received. 

325

3-49

The Matching Principle: When to record Expenses (p105) 

Matching Principle 

Expenses should be recorded in the period in which they are used up to generate revenue, regardless of when cash is paid. 

3-50

Readings – Chapter 3 Williams 

Exercises 3.1, 3.6, 3.9 & 3.11 (p126 to p129) 

Problems 3.1B, 3.3B & 3.5B (p137 to p141) 

(solutions are available on SOUL) 

**Practice makes perfect 

End of Chapter 3 

Readings and Home Exercises 

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