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- 1. DOUBLE ENTRIES PRINCIPLES,BALANCE OFF AND TRIAL BALANCE
- 2. COURSE OUTLINE 01 02 03 04 05 06 EXPLAIN THE DOUBLE-ENTRY RULES PREPARE THE POSTING OF JOURNAL ENTRIES INTO RESPECTIVE LEDGERS ACCOUNT SHOW THE BALANCING OFF THE ACCOUNT DESCRIBE A TRIAL BALANCE PREPARE A TRIAL BALANCE TYPES OF ERRORS THAT ARE REVEALED BY TRIAL BALANCE
- 3. There is no limit on the number of accounts that may be used in a transaction , but the minimum is two accounts. DOUBLE ENTRY RULES A record keeping system under which every transaction is recorded in at least two accounts.
- 4. TYPES OF LEDGER ACCOUNT
- 5. DD Steps to Record Transaction into Ledger Account (Use Double Entry Concepts)
- 6. DOUBLE ENTRIES PRINCIPLES FOR ASSETS,LIABILITESAND CAPITAL Double-entry for assets- All assets account will be recoded at debit side of ledger when it increase and recorded at credit side when it decrease
- 7. 01 Double-entry for capital- Capital will be recorded at debit side when its decrease and will be recorded at credit side when its increase Double entries principles for expenses and revenue Double-entry for expenses- All expenses account will be recoded at debit side of ledger when it increase and recorded at credit side when it decrease
- 8. Double entries principle for inventories Increases in Inventory Increases in inventory are often due to purchases. Decreases in Inventory An inventory decreases with sales.
- 9. Double entries for trade discount and cash discount Trade Discount No entry is made for trade discounts in the double entry accounts. Cash Discount Cash discount happened when we settle the amount of debts according the credits term.
- 10. Distinguish between the trade discount and cash discount Posting journal entries into respective ledgers account
- 12. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Duis vulputate nulla at ante rhoncus, vel efficitur felis condimentum. Proin odio odio. STRATEGY N°1 STRATEGY N°2
- 13. Ceo Of Ingoude Company Everest Cantu Ceo Of Ingoude Company Ceo Of Ingoude Company Remy Marsh
- 15. Balance of account for assets, liabilities, capital, revenue and expenses
- 16. Distinguish between the debit balance, credit balance and zero balance when we closed the ledgers we will get either debit balance, credit balance or zero balance. debit balance when the debit side amount is larger than credit side otherwise we will get the credit balance when credit side or ledgers amount is larger than debit side.
- 17. Purposes of a Trial Balance Trial Balance acts as the first step in the preparation of financial statements. It is a working paper that accountants use as a basis while preparing financial statement. Trial balance ensures that for every debit entry recorded, a corresponding credit entry has been recorded in the books in accordance with the double entry concept of accounting. If the totals of the trial balance do not agree, the differences may be investigated and resolved before financial statements are prepared. In a manual system a trial balance was commonly prepared by the bookkeeper in order to discover whether math errors and/or some posting errors were made.
- 18. Format of Trial Balance There are two (2) formats of Trial Balance: • T Format • Statement Format