DHA COLLEGE FOR WOMEN PHASEVIII PRESENTATION-1 MRS. FOUZIA NASIR ASST PROFESSOR COMMERCE DEPARTMENT JUNE 30 TH 2011.

Slides:

Advertisements

Similar presentations

ACCT 2110 GENERAL LEDGER. ACCOUNTING EQUATION n Assets = Equities n Assets = Liabilities + Owner’s equity.

Advertisements

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 22-4 Adjusting, Closing, and Reversing Entries for a Corporation.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-1 Recording Adjusting Entries.

Lesson 26-4 (GJ) ADJUSTING ENTRIES Lesson 26-4, page 677.

T Accounts. A page in the General Ledger for each account.

Steps in the Accounting Cycle Accounting Kerri Perry.

© 2014 Cengage Learning. All Rights Reserved. Learning Objectives © 2014 Cengage Learning. All Rights Reserved. LO2 Prepare a post-closing trial balance.

Recording Adjusting and Closing Entries for a Service Business Chapter 8, Section 3.

Recording Transactions in a General Journal

Business Transactions Financial transaction? NO YES Create journal entries Source Documents Record journal entries in JOURNALS Post to JOURNALS Post to.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 16-3 Preparing a Post-Closing Trial Balance.

The book (or printout) holding all the accounts

THE ACCOUNTING CYCLE FINANCIAL TRANSACTION OCCURS RECORD TRANSACTIONS IN GENERAL JOURNAL POST TO THE GENERAL LEDGER RECORD ADJUSTING ENTRIES IN GENERAL.

LESSON 16-3 Preparing a Post-Closing Trial Balance

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-3 Preparing a Post-Closing Trial Balance  General ledger accounts after posting.

LESSON 8-3 Preparing a Post-Closing Trial Balance

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-3 Preparing a Post-Closing Trial Balance.

Recording and Adjusting Closing Entries. 2LESSON 8-1 ADJUSTING ENTRY FOR SUPPLIES 1 2 page Write the title of the account credited. Record the.

Meaning, Objectives and Terminology of Accounting.

Appendix A. think there are two parts to every entry what did the Co. receive why did we receive it OR what did it give up why did we give it up.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 16-3 Preparing a Post-Closing Trial Balance.

Section 2Posting Closing Entries and Preparing a Post-Closing Trial Balance What You’ll Learn  How to record closing entries in the general ledger. The.

MILLIONAIRE SCOREBOARD $100 $200 $300 $500 $1,000 $2,000 $4,000 $8,000 $16,000 $32,000 $64,000 $125,000 $250,000 $500,000 $1 MILLION Click the $ for.

Section 3Completing the Work Sheet and Journalizing and Posting the Adjusting Entries What You’ll Learn  How to complete the Adjusted Trial Balance section.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-3 Preparing a Post-Closing Trial Balance.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 4-5 End-of-Period Work for a Departmentalized Business.

© 2000 South-Western Educational Publishing POST-CLOSING TRIAL BALANCE Write the heading. 2.Write titles of all general ledger accounts with balances.

ADJUSTED TRIAL BALANCE

Appendix A. think there are two parts to every entry what did the Co. receive what did it give up OR why did we receive it why did we give it up.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 16-3 Preparing a Post-Closing Trial Balance  Completed general ledger  Post-closing.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 8-3 Preparing a Post-Closing Trial Balance.

Accounting Cycle.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 8-3 Preparing a Post-Closing Trial Balance.

CENTURY 21 ACCOUNTING © Thomson/South-Western LESSON 8-3 Preparing a Post-Closing Trial Balance.

CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning LESSON 16-1 Recording Adjusting Entries.

LESSON 8-1 Recording Adjusting Entries

LESSON 8-1 Recording Adjusting Entries

Accounting I Chapter 9 – Recording Adjusting & Closing Entries for a Service Business.

Adjusting, Closing, and Reversing Entries for a Corporation

Adjusting, Closing, and Reversing Entries for a Corporation

Recording Adjusting and Closing Entries

Closing Entries and the Postclosing Trial Balance

Post-Closing Trial Balance

© 2014 Cengage Learning. All Rights Reserved.

During the period Communicate End of period. During the period Communicate End of period.

JOURNALIZING ADJUSTING ENTRIES FOR A DEPARTMENTALIZED BUSINESS

© 2014 Cengage Learning. All Rights Reserved.

POST-CLOSING TRIAL BALANCE

Financial Statements Review

The Accounting cycle Agenda for next Week.

BUSINESS HIGH SCHOOL-ACCOUNTING II

Lesson 26-4 ADJUSTING ENTRIES Lesson 26-4, page 675.

LESSON 8-3 Preparing a Post-Closing Trial Balance

LESSON 8-1 Recording Adjusting Entries

LESSON 8-3 Preparing a Post-Closing Trial Balance

Recording Adjusting and Closing Entries

LESSON 8-3 Preparing a Post-Closing Trial Balance

LESSON 8-2 Preparing a Post-Closing Trial Balance

© 2014 Cengage Learning. All Rights Reserved.

© 2014 Cengage Learning. All Rights Reserved.

LESSON 8-3 Preparing a Post-Closing Trial Balance

LESSON 8-1 Recording Adjusting Entries

© 2014 Cengage Learning. All Rights Reserved.

LESSON 4-5 End-of-Period Work for a Departmentalized Business

© 2014 Cengage Learning. All Rights Reserved.

LESSON 16-5 Preparing a Post-Closing Trial Balance

LESSON 8-3 Preparing a Post-Closing Trial Balance

Presentation transcript:

DHA COLLEGE FOR WOMEN PHASEVIII PRESENTATION-1 MRS. FOUZIA NASIR ASST PROFESSOR COMMERCE DEPARTMENT JUNE 30 TH 2011

ACCOUNTING CYCLE 1. JOURNALIZING 2. LEDGER POSTING 3. TRIAL BALANCE 4. ADJUSTMENT 5. ADJUSTED TRIAL BALANCE 6. INCOME STATEMENT 7. BALANCE SHEET

JOURNALIZING 1. Recording of transactions in chronological order 2. No memorandum entry will be recorded in general journal 3. Journal includes every type of transaction 4.Proper format should be considered

TYPES OF JOURNAL 1.Two types of journals a) General journal b) special Journal 2.General journal includes all type of transactions 3. Special journals include related transactions Special journals include credit transactions only