hollyzed themes test: Accounting Transaction

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<li><a href="####"><span style="color: #38761d;">قسم رئيسي 1</span></a></li>
<li><a href="####"><span style="color: #38761d;">قسم رئيسي 2</span></a></li>
<li><a href="####"><span style="color: #38761d;">قسم رئيسي 3</span></a></li>
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<i class="icon-relatedtopic"></i> 
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<li class="relatedtopic"><a href="####"><span style="color: #38761d;">مقالة 1</span></a></li>
<li class="relatedtopic"><a href="####"><span style="color: #38761d;">مقالة 2</span></a></li>
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<i class="icon-topicappendix"></i>
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<li class="topicappendix"><a href="#6"><span style="color: #38761d;">فيديو / برنامج / صور</span></a> </li>
<li class="topicappendix"><a href="#6"><span style="color: #38761d;">فيديو / برنامج / صور</span></a> </li>
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<li><a href="#0"><span style="color: #38761d;">مقدمة الموضوع</span></a> </li>
<li><a href="#1"><span style="color: #38761d;">محتوى 1</span></a> </li>
<li><a href="#2"><span style="color: #38761d;">محتوى 2</span></a> </li>
<li><a href="#3"><span style="color: #38761d;">محتوى 3</span></a> </li>
<li><a href="#4"><span style="color: #38761d;">محتوى 4</span></a> </li>
<li><a href="#5"><span style="color: #38761d;">محتوى 5</span></a> </li>
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<h2><span class="link_open"><a name="0"><i id="dow2" class="icon-showpoint hide"></i><i id="up2" class="icon-hidepoint"></i> مقدمة الموضوع </a></span></h2>
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<div id="p2">محتوى الفقرة</div>

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<h2><span class="link_open" id="link_equation"><a name="1"><i id="dow1" class="icon-showpoint hide"></i><i id="up1" class="icon-hidepoint"></i> محتوى 1 </a></span></h2>
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<span>أسم الصورة هنا</span>
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<h3>نقطة فرعية h3</h3>

<ul>
<li class="h3-li"><h4>نقاط فرعية h4</h4></li>
<li class="h3-li"><h4>نقاط فرعية h4</h4></li>
<li class="h3-li"><h4>نقاط فرعية h4</h4></li>
<li class="h3-li"><h4>نقاط فرعية h4</h4></li>
</ul>

<h4 class="h4-point" style="border-bottom: 1px solid #A9A5A5;"><span class="fst-scd-point"><b>1 . </b></span> نقطة فرعية h4</h4>

<ul>
<li class="h4-li"><h5>نقاط فرعية h5</h5></li>
<li class="h4-li"><h5>نقاط فرعية h5</h5></li>
<li class="h4-li"><h5>نقاط فرعية h5</h5></li>
<li class="h4-li"><h5>نقاط فرعية h5</h5></li>
</ul>

<p>وإليك شرح النقاط الأربع .... <i id="dow1" class="icon-hand-down"></i></p>

<h4>1 . نقطة فرعية لـ اتش 3</h4>

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<p>شرح النقطة الفرعية لـ اتتش 3.. فقرة ثانية في الشرح - تجربة شكل الأسطر بمحاذاة الصورة الجانبية والفقرة الأولى.</p>

<p>شرح النقطة الفرعية رقم 1.. فقرة أولى في الشرح - تجربة شكل الأسطر بمحاذاة الصورة الجانبية.</p>

<p>شرح النقطة الفرعية رقم 1.. فقرة ثانية في الشرح - تجربة شكل الأسطر بمحاذاة الصورة الجانبية والفقرة الأولى.</p>

<p class="note">ملحوظة على شئ سبق شرحة <i class="icon-note"></i></p>

<div class="note"><p>ملحوظات : <i class="icon-note"></i></p>
<ul>
<li>ملحوظة متعددة النقاط</li>
<li>ملحوظة متعددة النقاط</li>
<li>ملحوظة متعددة النقاط</li>
</ul>
</div>

<p class="note">تم الإنتهاء من النقطة هذه <i class="icon-check"></i></p>

<div class="note"><p>تم الإنتهاء من : <i class="icon-check"></i></p>
<ul>
<li>النقطات هذه</li>
<li>النقطات هذه</li>
<li>النقطات هذه</li>
</ul>
</div>

<p class="note">نصيحة أو يوصى بـ أو من المستحب <i class="icon-advice"></i></p>

<div class="note"><p>يوصى بـ : <i class="icon-advice"></i></p>
<ul>
<li>النقطات هذه</li>
<li>النقطات هذه</li>
<li>النقطات هذه</li>
</ul>
</div>

<p class="note">بهذا يكون أفضل أو نقطة التمام <i class="icon-ok"></i></p>

<div class="note"><p>نقاط التمام : <i class="icon-ok"></i></p>
<ul>
<li>النقطات هذه</li>
<li>النقطات هذه</li>
<li>النقطات هذه</li>
</ul>
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<h2><span class="link_open"><a name="2"><i id="dow2" class="icon-showpoint hide"></i><i id="up2" class="icon-hidepoint"></i> محتوى 2 </a></span></h2>
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<div id="p2">محتوى الفقرة</div>

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<h2><span class="link_open"><a name="3"><i id="dow3" class="icon-showpoint hide"></i><i id="up3" class="icon-hidepoint"></i> محتوى 3 </a></span></h2>
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<div id="p3">محتوى الفقرة</div>

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<h2><span class="link_open" id="link_equation"><a name="4"><i id="dow4" class="icon-showpoint hide"></i><i id="up4" class="icon-hidepoint"></i> محتوى 4 </a></span></h2>
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<div id="p4">محتوى الفقرة</div>

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<h2><span class="link_open"><a name="5"><i id="dow5" class="icon-showpoint hide"></i><i id="up5" class="icon-hidepoint"></i> محتوى 5 </a></span></h2>
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<div id="p5">محتوى الفقرة</div>

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قسم رئيسي 1 قسم رئيسي 2 قسم رئيسي 3 مقالة 1 مقالة 2 فيديو / برنامج / صور فيديو / ب...

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the frist introduction to accounting bookkeeping

<div style="text-align: center;">the frist introduction to accounting bookkeeping</div><div style="text-align: center;">and the archive for our topics ( step by step )</div><div style="text-align: center;"><br /></div>Financial accounting involves identifying - measuring - <b>recording - </b>and communicating in dollar terms the economic events and status of an organization.<br />This information is summarized and presented in ﬁnancial statements... the three most important being the <b>income statement</b> - <b>the balance sheet</b> - and <b>the statement of cash ﬂows</b>. Because these statements communicate ﬁnancial information about an organization, organizations must understand the basics of ﬁnancial accounting because ﬁnancial statements are the best way to summarize a business’s ﬁnancial status and performance.<br />Our coverage of ﬁnancial accounting extends over several Topics.<br />This topic begins with an introduction to basic ﬁnancial accounting concepts and then explains how organizations report ﬁnancial performance - speciﬁcally <b>revenues</b>, costs, and proﬁts. In other topics, the discussion is extended to the reporting of ﬁnancial status, which includes <b>assets - liabilities - and equity</b>.<br /><br />In addition, the reporting of <b>cash ﬂows</b>. another topics, discusses <b>ﬁnancial statements</b> - ﬁnancial statement analysis can be better understood after learning more about the ﬁnancial workings of a business.<br />Bookkeeping blog will provide you with a basic understanding of how ﬁnancial statements are created and used to make judgments regarding the ﬁnancial condition of an organization.<br /><br /><a href="http://bookkeeping-course.blogspot.com/2012/07/introduction-to-bookkeeping-historical.html"><b>Historical Foundations of Financial Accounting</b></a><br /><br /><a href="http://bookkeeping-course.blogspot.com/2012/07/introduction-to-bookkeeping-users-of.html"><b>The Users of Financial Accounting Information</b></a><br /><br /><b>Regulation and Standards in Financial Accounting</b><br />Financial Accounting Standards Board (FASB)<br />Generally accepted accounting principles (GAAP)<br />American Institute of Certiﬁed Public Accountants (AICPA)<b><br /></b><br /><br /><b>Basic Concepts of Financial Accounting</b><br />The preparation and presentation of ﬁnancial accounting data is based ona set of principles, the most important of which are:<br />(1) accounting entity,(2) going concern, (3) accounting period,<br />(4) objectivity, (5) reliability,(6) monetary unit,<br />(7) relevance, (8) full disclosure, (9) materiality,<br />(10) conservatism, (11) consistency, and (12) comparability.<br /><br /><br /><a href="http://bookkeeping-course.blogspot.com/2012/06/introduction-to-bookkeeping-accounting.html"><b>The financial Accounting flowchart</b></a><br />This topic describes  the  financial accounting process.  It shows how  information about <a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-transaction-double-entry.html">transactions</a> and events is accumulated to produce <b>the balance sheet</b> and <b>the income  statement</b>. This early presentation is quite basic; subsequent chapters  will present more complex issues. the cash flow effects of various  transactions are addressed in another topic, the statement of cash flows  is actually covered in detail in other topic, “<b>Statement of Cash  Flows</b>.” <br /><br /><a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-equation-and-basic-elements.html"><b>accounting equation</b></a> <br /><br /><br /><a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-transaction-double-entry.html"><b>Recording and Compiling Accounting Data</b></a><br />explain the following terms used in the recording and compiling of accounting data:<br />• Transaction<br />• Account<br />• Posting<br />• Chart of accounts<br />• General ledger<br />• T account<br />• Double entry system<br /><br /><br />

the frist introduction to accounting bookkeeping

the frist introduction to accounting bookkeeping and the archive for our topics ( step by step ) Financial accounting involves identifying -...

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Bookkeeping : Posting of closing entries

<b>POSTING</b>   <br /><br />The process of transferring information from the journal to the ledger for the purpose of summarizing is called posting. Primarily a clerical task, posting is ordinarily carried out in <b>the following steps:</b><br /><br />1.  Record the amount and date.  The date and the amounts of the debits and credits <br />are entered in the appropriate accounts. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnxhHffKNFI53gf0DwBegFJ6zwOidYBjb_oNNEFOycwzJc2c4j8EJ-cpvF7EoG2KrL6GK8QYJLDD0Ny2_zELw4g3ghZpQEzCtr4QmnNzmVr4MT3okT-3ID6zWyARQPtu9Rnruc2MlDP6c/s1600/General+Journal-posting.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="282" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhnxhHffKNFI53gf0DwBegFJ6zwOidYBjb_oNNEFOycwzJc2c4j8EJ-cpvF7EoG2KrL6GK8QYJLDD0Ny2_zELw4g3ghZpQEzCtr4QmnNzmVr4MT3okT-3ID6zWyARQPtu9Rnruc2MlDP6c/s640/General+Journal-posting.JPG" width="640" /></a></div><br />2.  Record the posting reference in the account.  The number of the journal page is entered in the account. <br /><br />3.  Record the posting in the journal.  For cross-referencing, the code number of the account is now entered in the P.R. column of the journal (solid line). <br /><br /><br /><b>Preparing closing Entries</b> <br /><br />  At the end of the accounting fiscal year, the balances of the nominal accounts are to be transferred from the trial balance to the profit and loss account through closing entries, these entries produce a zero balance in each nominal account. <br /><br />Journalizing and posting closing entries is an essential step in the accounting cycle. <br /><br />Separate closing entries could be prepared for each nominal account, but the following two <br />entries satisfy the desired result: <br /><br />1.  Debit each revenue account for its balance and credit profit and loss account for total revenues. <br /><br />2.  Debit profit and loss account for total expenses and credit each expense account for its balance. <br /><br />Below, is closing entries illustration: <br /><br />To illustrate the journalizing and posting of  closing entries, we will assume that  Banana, lawyer closes his books monthly.  The closing entries at December  ٣١ are shown in the following illustration. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMgGV_cy03MusKyh50Xorssuwo-P-ANszAg2o9H9CzytJYVF2gQoQMasvaXHVvOytjLVhgXpIJnaMSntZD-j5o1GHDU72vEjyuAKCp4x7OVad2azbGfA4ixEudWxl2QA_m_AGZe3MqPkI/s1600/General+Journal-2.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="268" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhMgGV_cy03MusKyh50Xorssuwo-P-ANszAg2o9H9CzytJYVF2gQoQMasvaXHVvOytjLVhgXpIJnaMSntZD-j5o1GHDU72vEjyuAKCp4x7OVad2azbGfA4ixEudWxl2QA_m_AGZe3MqPkI/s640/General+Journal-2.JPG" width="640" /></a></div><b>Posting of closing entries </b><br /><br />  The posting of the closing entries are  shown in the following accounts, all the nominal accounts have zero balances. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNJ1hC6FGTN3TZsdGn4PMfPuZQntpsSVjU0mDm21spQEWUBD1snJEVQPDst0nRJ1p3bW60ZD7AlAxv1ZWYXt3RmJd4gRrDU_etFHoVibK3vUxyekmOapqLXHAMKocGfDstOfTekpQE_lE/s1600/T+account-closing+entries.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgNJ1hC6FGTN3TZsdGn4PMfPuZQntpsSVjU0mDm21spQEWUBD1snJEVQPDst0nRJ1p3bW60ZD7AlAxv1ZWYXt3RmJd4gRrDU_etFHoVibK3vUxyekmOapqLXHAMKocGfDstOfTekpQE_lE/s1600/T+account-closing+entries.JPG" /></a></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3QJjC741xxjm7GZmbqcWSjKBma5fdKWDVP6uLfAUub0kQWjAGOBrVx29X9UpKb4s5tpjbcLgDBnEuI4w07WOfA5Z4g276xGoee9OOz8ssV69CF8fxWdZBlrvMBxqIvMWMPjdIyT4u4MY/s1600/T+account-closing+entries+2.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3QJjC741xxjm7GZmbqcWSjKBma5fdKWDVP6uLfAUub0kQWjAGOBrVx29X9UpKb4s5tpjbcLgDBnEuI4w07WOfA5Z4g276xGoee9OOz8ssV69CF8fxWdZBlrvMBxqIvMWMPjdIyT4u4MY/s1600/T+account-closing+entries+2.JPG" /></a></div><div style="text-align: left;">*   Note that profit and loss account is used only in closing.  No entries are journalized and posted to this account during the year. <br /> </div><div style="text-align: left;"><b>Preparation of income statement </b><br /><br />  The income statement is designed the  report the results of earning activities <br />(operations) for a specific time period such as a month, quarter, or year. <br /><br /><b>Net income</b> for the period is the excess of revenues over expenses for that time. <br /><br />The heading of the income statement indicates the name of the business, the name of the statement, and the time period covered by the statement.   Below an illustration of  Banana lawyer income statement for the month of December 2011.</div><div style="text-align: left;"><br /></div><div style="text-align: center;"><b>Banana,  Lawyer <br />Income Statement <br />For the month of December 2011</b></div><div style="text-align: center;"><br /></div><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4Wkv_do8sDS7mKB-qsfWMACSlu6brS8gfhpKEB5qDwaf-ux60l0o0OW_lIaE2LUKlm2mG4Aecjv1aEhkYTbMv_Kv05Sx4bm1VYm7wlVvolshe0D7xas_rOARmvvQBnvfHNfD5WB7TMPw/s1600/Income+Statement.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh4Wkv_do8sDS7mKB-qsfWMACSlu6brS8gfhpKEB5qDwaf-ux60l0o0OW_lIaE2LUKlm2mG4Aecjv1aEhkYTbMv_Kv05Sx4bm1VYm7wlVvolshe0D7xas_rOARmvvQBnvfHNfD5WB7TMPw/s1600/Income+Statement.JPG" /></a></div><div style="text-align: left;"><br /></div><div style="text-align: left;"><b style="color: red;">Note : </b><br /><br />1.  Revenues are defined as in flows of assets either from the sale of goods or the performance of services. <br />2.  Expenses are defined as out flows or other uses of assets to produce revenue.</div><div style="text-align: left;">٣.  Net income is defined as the excess of revenues over expenses, and will be transferred to the balance sheet as either profit or loss. </div><div style="color: #666666; text-align: left;"><br /></div><div style="color: #666666; text-align: left;">----------------------------------------------------------------------------------------------------------</div><div style="text-align: center;"><a href="http://bookkeeping-course.blogspot.com/"><span style="color: #666666;">Bookkeeping course</span></a></div>

Bookkeeping : Posting of closing entries

POSTING The process of transferring information from the journal to the ledger for the purpose of summarizing is called posting. Primaril...

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Accounting Transaction: General Journal

In the <a href="http://bookkeeping-course.blogspot.com/">Bookkeeping course</a> we showed the <a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-transaction-double-entry.html"><b>effects of transactions by making entries in T accounts</b></a>. However- these entries do not provide the necessary data for a particular transaction - nor do they provide a chronological record of transactions. <br /><br />The missing information is furnished by the use of an accounting form known as <b>the journal</b>.<br /><br /><b>General Journal </b><br />The  journal, or day book, is the book of original entry for accounting data. <br />-  It is the first book to record financial transaction in chronological order. <br />-  It has spaces for date, accounts titles & explanations, references, and two money columns, as illustrated below: <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwS9TQPEDjU0SGLLt1EhydgmhEUDh44DzKh6SwK8lj5_viJngilpPIxu7auj0p7Jq0lICh6asKG7niI0_0umGdX7wGFzBSHfuvG5OPaLQKxF-vo8uFAlUhbJ5ySyBIWyebt6ly_cFDQos/s1600/General+Journal.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="258" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiwS9TQPEDjU0SGLLt1EhydgmhEUDh44DzKh6SwK8lj5_viJngilpPIxu7auj0p7Jq0lICh6asKG7niI0_0umGdX7wGFzBSHfuvG5OPaLQKxF-vo8uFAlUhbJ5ySyBIWyebt6ly_cFDQos/s640/General+Journal.JPG" width="640" /></a></div><br />Afterward - the data is transferred or posted to the ledger, the book of subsequent or secondary entry. The various transactions are evidenced by sales tickets, purchase invoices, check stubs, and so on. On the basis of this evidence, the transactions are entered in chronological order in the journal. The process is called journalizing. A number of different journals may be used in a business. For our purposes, they may be grouped into general journals and specialized journals.<br />The latter type - which are used in businesses with a large number of repetitive transactions, are described in Chapter 6. To illustrate<b> journalizing -</b> we here use the general journal, whose standard form is shown be<br />low. <br /><br /><b>Journalizing </b><br /><br />Entering transaction data into Journal is known as Journalizing. <br /><br />Steps for journalizing a transaction <br />-  Analyze the transaction to determine which accounts are affected. <br />-  Analyze the accounts to determine which account is the debit part and which one is the credit part. <br />-  Record the transaction following the example illustrated below. <br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwzieJfyhZ3wlirrHhZ8lynHcy2kBC_7dppPAMDh4rTOlLt2R45qre38wsamrDQjTID3uXZucTaDnHnyIliQJo_0dIi3ah56DrnuiMgQVkdhmsAVAIp0hiXVbIcga7H3nxPlD6G-dpIdI/s1600/General+Journal-Journalizing.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="260" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgwzieJfyhZ3wlirrHhZ8lynHcy2kBC_7dppPAMDh4rTOlLt2R45qre38wsamrDQjTID3uXZucTaDnHnyIliQJo_0dIi3ah56DrnuiMgQVkdhmsAVAIp0hiXVbIcga7H3nxPlD6G-dpIdI/s640/General+Journal-Journalizing.JPG" width="640" /></a></div><br /><b style="color: red;">Note:</b>   The date should be entered in the date column. <br />-  The year and the month are not repeated until the start of a new page or a new month.<br /><br />-  The title of the account to be debited is entered against the left margin of the title & explanation column.<br /><br />-  The amount to be debited to each account is entered in the debit column on the same line as the account title. ( The debit amount for each account is entered in this column.  Generally, there is only one item, but there could be two or more  separate items.) <br /><br />-  The account to be credited follows the same steps except being in the credit side. <br />( The credit amount for each account is entered in this column. Here again, there is generally only one account, but there could be two or more accounts involved with different amounts. )<br /><br />-  An explanation of the transaction may be entered on the next line below the journal entry. <br /><br />-  The posting reference column is left blank till the transaction is being posted.<br /><br /><div style="text-align: center;">  <b>The Next : Posting</b></div>

Accounting Transaction: General Journal

In the Bookkeeping course we showed the effects of transactions by making entries in T accounts . However- these entries do not provide the...

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Accounting Transaction: double-entry Bookkeeping system

<br /><div style="text-align: center;"><b>double entry Bookkeeping system</b></div><div style="text-align: -webkit-auto;"></div><h3 class="r" style="background-color: white; color: #222222; font-family: arial, sans-serif; margin: 0px; overflow: hidden; padding: 0px; text-align: center; text-overflow: ellipsis; white-space: nowrap;">       <span style="font-size: small; font-weight: normal;"><i style="font-style: normal;">For the Accounting Transaction</i> Posting</span></h3><br /><div style="text-align: center;"><b><br /></b><br /><br /><div style="text-align: left;">Preparing a new equation A = L + C after each transaction - would be cumbersome and costly especially </div><span style="text-align: center;"></span><br /><div style="display: inline !important; text-align: left;"><span style="text-align: center;">when there are a great many accounting transactions in an ac</span>counting period. and Also, information for a speciﬁc item - <span style="text-align: center;">such as cash would be lost as successive transactions were recorded.</span></div><br /><div style="text-align: left;"><br /></div><div style="text-align: left;">This information could be obtained by going back and summarizing the transactions, but that would be very time-consuming. Thus we begin with the account - <span style="background-color: white; color: #333333; font-family: Tahoma; font-size: 13px; line-height: 20px; text-align: justify;">Account which records the </span>accounting transactions<span style="background-color: white; color: #333333; font-family: Tahoma; font-size: 13px; line-height: 20px; text-align: justify;"> so you must know what the accounting transactions and how to post accounting transaction.</span></div><br /><b><br /></b></div><b>Financial Accounting Transaction : </b><br />What is the Accounting Transaction ? <br />The processing of accounting data begins with an economic transaction, where two or more parties engage in an exchange  of goods or services for some form of consideration.<br />Evidence of this happening is the receipt  of some form of a source document. Common examples of such a source document include: <br /><br />•  A sales receipt - this can be in a variety of forms. <br />•  A purchase invoice. <br />•  A debit/credit memorandum. <br />•  A copy of a contract entered into. <br />•  A billing statement. <br />•  A remittance statement. <br /><br />There are a multitude of source documents, in type, shapes, and format used to record<br />the significant data. It is these documents, which become the basis for data input to the<br />accounting processing. But, prior to the actual data entry, the documents must be<br />subjected to a series of analysis and classification.<br /><br /><br /><b>Now let's know the Basis for Post the accounting Transaction : </b>basis of <i style="background-color: white; font-family: arial, sans-serif; font-style: normal; line-height: 16px;">accounting treatment</i><span style="background-color: white; color: #222222; font-family: arial,sans-serif; line-height: 16px;"> </span><span style="background-color: white; color: #222222; font-family: arial,sans-serif; line-height: 16px;">for the</span><span style="background-color: white; color: #222222; font-family: arial,sans-serif; line-height: 16px;"> </span><i style="background-color: white; font-family: arial, sans-serif; font-style: normal; line-height: 16px;">transaction</i><br /><b><br /></b><br /><b>1- Debits and Credits</b><br /><br />The terms debit and credit mean left and right, respectively, the abbreviation of<br />these two words as follows:<br /><div style="font-weight: bold;"><br /></div><div style="font-weight: bold; text-align: center;">               * Debit   Dr.              * Credit  Cr. </div><div style="font-weight: bold;"><br /></div><div style="font-weight: bold;"><span style="background-color: #eeeeee;">* These abbreviations come from the Latin words debere (Dr.) and credere (Cr.).             </span></div><br />When an amount is entered on the left side of <b>an account ( </b><span style="color: red;">In Base No. 2 will explain what is the account</span><b> )</b>, it is a debit, and<br /><div style="display: inline !important;">the account is said to be debited. When an amount is entered on the right </div><div style="display: inline !important;">side, it is a credit, and the account is said to be credited. The abbrevia</div><span style="font-weight: bold;"></span><br /><div style="display: inline !important;"><span style="font-weight: bold;"><span style="font-weight: normal;">tions for debit and credit are Dr. and Cr., respectively.</span> </span></div><span style="font-weight: bold;"></span><br /><div style="font-weight: bold;"><br /></div>Whether an increase in a given item is credited or debited depends on the category of the item. By convention, asset and expense increases are recorded as debits, whereas liability, capital, and income increases are recorded as credits. Asset and expenses decreases are recorded as credits, whereas liability, capital, and income decreases are recorded as debits. The following tables summarize the rule.<br /><br /><b>2- The Account </b><br />An account may be deﬁned as a record of the increases, decreases, and balances in an individual item of asset, liability, capital, income (revenue), or expense.<br /><b><br /></b><br />The simplest form of the account is known as the “T” account because it resembles the letter “T.”A ┬ Account has a left side and a right side, thus, an account is debited when an amount is entered on the left side and credited when an amount is entered on the right side.<br /><br /><br />The account has three parts:<br />1. the name of the account and the account number<br />2. the debit side (left side)<br />3. the credit side (right side).<br /><br /><br />Whether a debit or credit is an increase or decrease to the account balance depends on the account<br />classification as illustrated below:<br /><br /><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhWMMTckmag54C8UdG1iWoELpKTUSRuagn9mZp00A6YPURsz_qwp8BpTR_Sfwh55yNZJK-i-RRr6vBMu3DX5CNQv0LhHZ3dNh1gNUHY7fD7rAMnIOeu9dONM0_uGWZbul1GRi4fCaYR2Q/s1600/T-account.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="275" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjhWMMTckmag54C8UdG1iWoELpKTUSRuagn9mZp00A6YPURsz_qwp8BpTR_Sfwh55yNZJK-i-RRr6vBMu3DX5CNQv0LhHZ3dNh1gNUHY7fD7rAMnIOeu9dONM0_uGWZbul1GRi4fCaYR2Q/s400/T-account.png" width="400" /></a></div><div style="text-align: center;"><br /></div><br />The increases are entered on one side, the decreases on the other. The balance (the excess of the total of one side over the total of the other) is inserted near the last ﬁgure on the side with the larger amount.<br /><br />every recorded transaction affects at least two accounts ( for Ex. account on the right and other on the left side or 2 on this side)<br /><br /><br />An account has a debit balance when the sum of its debits exceeds the sum of its credits; it has a credit balance when the sum of the credits is the greater.<br /><br />What are made in Base No. 1 and No. 2, called <b>double-entry transaction recording</b><br /><b><br /></b><br />In <b>double-entry accounting</b>, which is in almost universal use, there are equal debit and credit entries for every transaction. Where only two accounts are affected, the debit and credit amounts are equal. If more than two accounts are affected, the total of the debit entries must equal the total of the credit entries.<br /><br />Therefore, it is important to know : For every <b>transaction</b> <b>entry</b>, debits must equal credits<br /><br /><br /><b>Note,</b> however, that the term “double entry” does not mean that a transaction must  affect each side of the transaction, it may effects one.<br /><br /><br /><b>Example:</b> Accounting Transaction<br />purchase of equipment for cheque – Tom purchased a computer for 2000$  paid by cheque. <br /><br /><b>This transaction results in an </b><br />equal increase and decrease in  total assets, though the composition of assets is changed: <br />Bank is decreased by 2000$ and the assets Equipment is increased by 2000$<br /><br /><br />we discussed the nature of business transactions and the manner in which they are <a href="http://bookkeeping-course.blogspot.com/2012/06/introduction-to-bookkeeping-accounting.html"><b>analyzed and classiﬁed</b></a>. The primary emphasis was the “why” rather than the “how” of accounting operations - we aimed at an understanding of the reason for making <a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-transaction-double-entry.html"><b>the entry</b></a> in a particular way. We showed the <a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-equation-and-basic-elements.html"><b>effects of transactions</b></a> by making entries in <a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-transaction-double-entry.html"><b>T accounts</b></a>. However, these entries do not provide the necessary data for a particular transaction, nor do they provide a chronological record of transactions.<br /><br />The missing information is furnished by the use of an accounting form known as <a href="http://bookkeeping-course.blogspot.com/2012/06/accounting-transaction-general-journal.html"><b>the journal</b></a>.  <br /><br /><br /><div style="text-align: center;">----------------------------------------------------------------------------------</div><div style="text-align: left;"><b>Quiz -Tested yourself</b></div><div style="text-align: left;"><br /></div>1. To classify and summarize a single item of an account group, we<br />use a form called an _______.<br /><br />2. The left side of the account is known as the _______, while the<br />right side of the account is known as the _________.<br /><br />3.  What do the term debit and credit mean?<br /><br />4.  What does double entry mean? <br /><br />5. The left side of the account is known as the ________, where as the right side<br />is the ___________.<br /><br /><br /><br />Answers: 1. account;  2. debit, credit; 3. do it by yourself;   4.  do it by yourself ;  6.  do it by yourself ,<br /><br /><br /><br /><br /><br />

Accounting Transaction: double-entry Bookkeeping system

double entry Bookkeeping system For the Accounting Transaction Posting Preparing a new equation A = L + C after each transaction - ...

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article post template 2015

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the frist introduction to accounting bookkeeping

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Bookkeeping : Posting of closing entries

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Accounting Transaction: General Journal

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Accounting Transaction: double-entry Bookkeeping system

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