Prepared by Coby Harmon University of California, Santa Barbara

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Prepared by Coby Harmon University of California, Santa Barbara Westmont College

2 The Recording Process Learning Objectives After studying this chapter, you should be able to: [1] Explain what an account is and how it helps in the recording process. [2] Define debits and credits and explain their use in recording business transactions. [3] Identify the basic steps in the recording process. [4] Explain what a journal is and how it helps in the recording process. [5] Explain what a ledger is and how it helps in the recording process. [6] Explain what posting is and how it helps in the recording process. [7] Prepare a trial balance and explain its purposes.

Preview of Chapter 2 Accounting Principles Eleventh Edition Weygandt Kimmel Kieso