会计英语新第三单元.ppt

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1、UnitThreeAccountingEquationObjectives:1Statetheaccountingequationanddefineeachelementofequation.2Graspthepreparationoftheaccountingentryfortransactions.3Explainhowbusinesstransactionscanbestatedintermsofchangesintheelementsoftheaccountingequation.一Accountingequation:Assets=Liabilities+Owner’sEqui

2、tyAssets_____resourcesownedbybusiness.Liabilities_____debtsowedtooutsiders(creditors).(first)Owner’sEquity_____ownersrighttotheassetsofthebusiness.(residual)二BusinesstransactionsBusinesstransactions-------sucheconomiceventsdirectlychangesanentity’sfinancialconditionordirectlyaffectsitsresultsofop

3、erations.Result:Allbusinesstransactionscanbestatedintermsofchangesintheelementsoftheaccountingequation.Examples:AssumethatonJan30,2010,WhitebeginsabusinessthatwillbeknownasA.1OnNov.1,Whitedeposit$25000inabankaccountinthenameofA.Dr.cash$25000Cr.White,capital$250002OnNov.5,Exchange$20000cashforland

4、.Dr.Land$20000Cr.Cash$200003OnNov.7,IfAhadpurchasedavanfor$28000,paying$8000cashandsigningaloanagreementfor$20000.Dr.Van$28000Cr.Cash$8000Notespayable$200004OnNov.10,Duringthemonth,Abuyingsuppliesof$1350andagreeingtopaythesupplierinthenearfuture.Dr.Supplies$1350Cr.Accountspayable$1350(purchaseona

5、ccount)5OnNov.10,Aprovidedservicestocustomers,earningfeesof$7500andreceivingtheamountincash.Dr.Cash$7500Cr.Feesearned$7500(Revenue--------abusinessearnsmoneybysellinggoodsorservicestoitscustomers.sales:saleofmerchandisefeesearned:provideservicerentrevenue:moneyreceivedforrentinterestrevenue:money

6、receivedforinterest)6OnNov.30,ForAtheexpensepaidduringthemonthwereasfollows:wages$2125;rent$800;utilities$450;miscellaneous$275.miscellaneousincludesmallamountsforsuchitemsaspostage,coffee,magazinessubscriptions.Dr.Wagesexpense$2125Rentexpense$800Utilitiesexpense$450Misc.expense$275Cr.Cash$3650(e

7、xpense--------theusingupofassetsorconsumingservicesintheprocessofgeneratingrevenues.)7OnNov.30,AssumethatApays$950tocreditorsduringthemonth.Dr.Accountspayable$950Cr.Cash$9508Attheendofthemonth,thecostofthesuppliesonhan