Preview

Principles of Accounts

Powerful Essays
Open Document
Open Document
2751 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Principles of Accounts
Chairs N More
Table of Contents

Acknowledgements………………………………………………………………………………………………………………………..3 Aim of Study…………………………………………………………………………………………………………………………………...4 Introduction…………………………………………………………………………………………………………………………………….5 Chapter 1…………………………………………………………………………………………………………………………………………6 Transactions-Sept……………………………………………………………………………………………………………………………7 Cash Book………………………………………………………………………………………………………………………………………..8 Sales Journal…………………………………………………………………………………………………………………………………….9 Purchases journal…………………………………………………………………………………………………………………………….10 Sales ledger………………………………………………………………………………………………………………………………………11 Purchases ledger…………………………………………………………………………………………………………………………….12 General Ledger………………………………………………………………………………………………………………………………13-16 Trial Balance………………………………………………………………………………………………………………………………………17 FIFO Statement………………………………………………………………………………………………………………………………...18 Income Statement……………………………………………………………………………………………………………………………..19 Balance Sheet…………………………………………………………………………………………………………………………………….20 General Journal………………………………………………………………………………………………………………………………….21 Chapter II…………………………………………………………………………………………………………………………………………...22 Transactions-Oct…………………………………………………………………………………………………………………………………23 Cash Book……………………………………………………………………………………………………………………………………………24 Sales Journal………………………………………………………………………………………………………………………………………..25 Sales ledger………………………………………………………………………………………………………………………………………….26 Purchases Ledger………………………………………………………………………………………………………………………………..27 General Ledger…………………………………………………………………………………………………………………………………28-33 Trial Balance………………………………………………………………………………………………………………………………………..34 FIFO Statement……………………………………………………………………………………………………………………………………35 Income

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Dec. 4 9,771.04 Dec. 14 1,306.44 Dec. 18 37,381.42 General Ledger Account Balances: November 20 Cash 148,057.81 FICA Taxes Payable – OASDI 3,577.41 FICA Taxes Payable – HI 836.67 Employees FIT Payable 2,118.00 Administrative Salaries 51,923.03 General Ledger Account Balances: December 18 FICA Taxes Payable – HI 2,632.61 Employees FIT Payable…

    • 171 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Waren Sports Supply2

    • 428 Words
    • 28 Pages

    UNADJUSTED YEAR-END ADJUSTMENTS TRIAL BALANCE STATEMENT SHEET NO. TITLE TRIAL BALANCE TRIAL BALANCE DEBIT CREDIT DEBIT CREDIT ID # DEBIT ID # CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT ASSETS 10100 Cash 11,025.19 108,309.00 108,309.00 108,309.00 10200 Accounts receivable 11,065.00 47,102.00 47,102.00 47,102.00 10300 Allowance for doubtful accounts 3,250.81 1,149.19 (1,149.19) (1,149.19) 10400 Inventory 101,681.00 101,681.00 101,681.00 101,681.00 10600 Marketable securities 24,000.00 24,000.00 24,000.00 10800…

    • 428 Words
    • 28 Pages
    Satisfactory Essays
  • Powerful Essays

    Balance Sheets and Income Statements is an approach to review the overall financial status of the company. We will be reviewing four companies in different industries’ balance sheet and income statements. With a technique to combine the statements we will be able to evaluate the companies’ income, expense and stockholder’s equity in the company. In reviewing Swift Transportation Company, Eastman Chemical Company, United Natural Foods, Inc. and Wells Fargo and Company over the course of the last few years we will be able to understand the value and growth potential of these companies.…

    • 1256 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    ACCT 212 Entire Course Financial Accounting http://sourceofhomework.com/downloads/acct-212-entire-course-financial-accounting/ ACCT 212 Course Project ACCT 212 Week 1 DQ1 Financial Statements ACCT 212 Week 2 DQ1 Prepaid Expenses vs. Unearned Revenue ACCT 212 Week 2 DQ2 Accrual vs. Cash Accounting ACCT 212 Week 3 DQ1 Ethical Business Decisions ACCT 212 Week 3 DQ2 Trade Credit – Accounts Payable ACCT 212 Week 4 DQ1 Inventory Management ACCT 212 Week 4 DQ2 LIFO ACCT 212 Week 4 Midterm ACCT 212 Week 5 DQ1 Non-current Assets and Related Liabilities ACCT 212 Week 5 DQ2 Raising Capital (Cash) ACCT 212 Week 6 DQ1 Stockholders Equity ACCT 212 Week 6 DQ2 Net Income vs. Net Operating Cash ACCT 212 Week 7 DQ1 Financial Statement Analysis ACCT 212 Entire Course Financial Accounting http://sourceofhomework.com/downloads/acct-212-entire-course-financial-accounting/ ACCT 212 Course Project ACCT 212 Week 1 DQ1 Financial Statements ACCT 212 Week 2 DQ1 Prepaid Expenses vs. Unearned Revenue ACCT 212 Week 2 DQ2 Accrual vs. Cash Accounting ACCT 212 Week 3 DQ1 Ethical Business Decisions ACCT 212 Week 3 DQ2 Trade Credit – Accounts Payable ACCT 212 Week 4 DQ1 Inventory Management ACCT 212 Week 4 DQ2 LIFO ACCT 212 Week 4 Midterm ACCT 212 Week 5 DQ1 Non-current Assets and Related Liabilities ACCT 212 Week 5 DQ2 Raising Capital (Cash) ACCT 212 Week 6 DQ1 Stockholders Equity ACCT 212 Week 6 DQ2 Net Income vs. Net Operating Cash ACCT 212…

    • 500 Words
    • 4 Pages
    Satisfactory Essays
  • Satisfactory Essays

    * A balance sheet is summary of a company's financial condition at a specific point in time, including assets, liabilities and net worth. It allows the company to know what they have been paying for or what they owe out to people. An income statement is a report that tracks a company’s revenues, gross profits, operating income, and net worth. All businesses need to have revenue in order to establish a good foundation to have their business up and running. A retained earnings statement is the portion of net income not paid out to investors in the business as dividends. If the company earns a profit they have to decide whether or not to invest it or keep it as theirs and distribute it evenly throughout the others in the company. Statement of cash flows provides information about an entity's cash receipts and cash payments during a period. Cash flow statements classify cash receipts and payments according to whether they stem from operating, investing, or financing activities. Assets are any item or items of economic value owned by an individual or corporation, especially that which could be converted to cash. A liability is an obligation that legally binds an individual or company to settle a debt. Comparative statements are financial statements for different periods that allow the comparison of figures to illustrate trends in a company’s performance. Stockholder’s equity is the part of the balance sheet that represents the capital received from investors in exchange for stock donated capital and retained…

    • 264 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Basics of Accounting

    • 655 Words
    • 2 Pages

    To what extent do you think that the strength of Invicta plcs balance sheets in 2010 and 2011 outweigh their weaknesses?…

    • 655 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Exercise 1

    • 442 Words
    • 5 Pages

    Exercise 1 XXXXX XACC/290 August XX, 2014 XXXXXX E3-4 Describe each transaction. 1. The company issued shares of stock to stockholders’ equity increased for the month. 2.…

    • 442 Words
    • 5 Pages
    Satisfactory Essays
  • Best Essays

    Executive Summary of Conclusions ....................................................................... II 1 2 3 4 5 5.1 5.2 5.3 5.4 5.5 6 7 8 Introduction ..................................................................................................... II Description of the Company ............................................................................ II Analysis of the Operating and Financial Review ............................................ III Critical Appraisal of the Accounting Policies .................................................. IV Analysis of the Financial Strengths and Weaknesses .................................... IV Profitability .................................................................................................. IV Efficiency ..................................................................................................... V Liquidity ....................................................................................................... V Stability....................................................................................................... VI Investors‟ ratios .......................................................................................... VI Review of the Market Perception .................................................................. VII Conclusion .................................................................................................... VII Appendices .................................................................................................... XI…

    • 2317 Words
    • 10 Pages
    Best Essays
  • Good Essays

    accounting theory

    • 704 Words
    • 3 Pages

    There is always a reason behind each and every action of a human being. A man does not anything without any sound reason.…

    • 704 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    accounting theory

    • 1988 Words
    • 9 Pages

    The International Accounting Standards Board has a number of roles, including formulating accounting standards and developing a conceptual framework. Is the work they do in developing an accounting standard or the conceptual framework normative or positive in nature?…

    • 1988 Words
    • 9 Pages
    Powerful Essays
  • Satisfactory Essays

    Principles of Accounting

    • 938 Words
    • 4 Pages

    CHAPTER 5 Short Exercises SE1 – SE10, Exercises E3 and E5, and Problems P2 and P3. SE1. 1. Objective 2.…

    • 938 Words
    • 4 Pages
    Satisfactory Essays
  • Powerful Essays

    Poa Sba

    • 3144 Words
    • 13 Pages

    | PRINCIPLES OF ACCOUNTS | | CHARLES ENTERPRISES | Performance of Charles Enterprises over a three month period. | | Name: Akima Charles | Teacher: Mr. Randy Boyke Cadet School: St Joseph Convent St George’s Registration number: School number: Due date: 18/02/2011 | | TABLE OF CONTENTS Topics Page # Introduction-------------------------------------------------------------------------------- 1 Acknowledgements----------------------------------------------------------------------- 2 Description of business------------------------------------------------------------------- 3 Aims ------------------------------------------------------------------------------------------- 4 Transactions---------------------------------------------------------------------------------- 5 Double entry--------------------------------------------------------------------------------- 9 Journals: * purchases journal------------------------------------------------------------------- 17 * sales journal-------------------------------------------------------------------------- 18 * Returns outwards journal--------------------------------------------------------- 19 * Returns inwards journal----------------------------------------------------------- 20 * Cash book----------------------------------------------------------------------------- 21 Ledgers: * Purchases ledger------------------------------------------------------------------- 22 * Sales ledger-------------------------------------------------------------------------- 23 * General ledger---------------------------------------------------------------------- 24 Trail balance--------------------------------------------------------------------------------- 26 Trading profit and loss account--------------------------------------------------------- 27 Balance…

    • 3144 Words
    • 13 Pages
    Powerful Essays
  • Satisfactory Essays

    David Montinola is employed as a bank loan officer for Bank of Philippine Islands. He is comparing two companies that have applied for loans, and he wants your help in evaluating those companies. The two companies- Philip Inc., and Morris Company – are approximately the same size and had approximately the same cash balance at the beginning of 2011. Because the total cash flows for the three-year period are virtually the same, David is inclined to evaluate the two companies as equal in terms of their desirability as loan candidates.…

    • 318 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    I need help

    • 3462 Words
    • 14 Pages

    This is a sample GUIDE only. You are required READ and UNDERSTAND but not to COPY and PARAPHRASE. The marking…

    • 3462 Words
    • 14 Pages
    Satisfactory Essays
  • Better Essays

    OF ACCOUNTING Accounting is the language of business and it is used to communicate financial information. In order for that information to make sense, accounting is based on 12 fundamental concepts. These fundamental concepts then form the basis for all of the Generally Accepted Accounting Principles (GAAP). By using these concepts as the foundation, readers of financial statements and other accounting information do not need to make assumptions about what the numbers mean. For this reason it is imperative to know and understand the eleven key concepts.…

    • 990 Words
    • 4 Pages
    Better Essays

Related Topics