Double-entry.ppt

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1、Understandhowdouble-entryaccountingworksDebitn.借,借方,借记Debitcard借记卡v.计入借方,借计Debitanaccount计入借方账Creditn.贷,贷方,贷记Creditcard贷记卡v.计入贷方,贷计Creditanaccount计入贷方账Double-EntryAccounting“Double-entryaccountingisbasedonasimpleconcept:eachpartyinabusinesstransactionwillreceives

2、omethingandgivesomethinginreturn.Inbookkeepingterms,whatisreceivedisadebitandwhatisgivenisacredit.TheTaccountisarepresentationofascaleorbalance.”LucaPacioliDeveloperofDouble-EntryAccountingScaleorBalanceReceiveDEBITGiveCREDITTaccountLeftSideReceiveDEBITRightSideG

3、iveCREDITT-accountT-account:asimplestformofanaccount,usedtoillustratetheeffectoftransaction.AccountnameDebitentries(leftside)Creditentries(rightside)Double-entryaccountingmeanstorecordthedualeffectsofeachbusinesstransaction.Single–entryaccountingTheDouble-EntrySy

4、stemUnderthedouble-entrybookkeepingsystem,thetwofoldeffectofeverytransactionisrecorded.e.g.thecheckstubfromtherentpaymentDr.rentExpenseCr.Cash存根1.Eachtransactionaffectsatleasttwoaccounts.2.Totaldebitsmustequaltotalcredits.RulesofTheDouble-EntrySystemOwner’s

5、EquityAssetsLiabilitiesDebit+Debit–Credit–Debit–Credit+Credit+=+rulesofdebits&creditsThetypeofaccountdeterminesthesideonwhichincreasesanddecreasesarerecorded.**Therulesofdebitsandcreditskeeptheaccountingequationinbalance.TheserulesareshowninaT-accountform:Rulesof

6、DebitandCreditAccountTitleAssetsExpensesLiabilitiesOwners’equityrevenuesDr.Cr.AssetsExpensesLiabilitiesOwners’equityrevenuesRulesofDebitandCredit(1)AssetsDr.Cr.NormalBalanceRulesofDebitandCredit(2)LiabilitiesDr.Cr.NormalBalanceRulesofDebitandCredit(3)Owners’Equit

7、yDr.Cr.NormalBalanceRulesofDebitandCredit(4)RevenuesDr.Cr.NormalBalanceRulesofDebitandCredit(5)ExpensesDr.Cr.NormalBalanceAnyamountspaidtoitsproprietoraretreatedasappropriationsofprofitandnotasexpensesincurred.AssetsOwners’EquityWithdrawalareamountsofmoneytakenou

8、tofthebusinessbyitsowner.DividendspayableAssetsPaymentofDividends