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
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    Bsa 500 Week 4 Balance Sheet and Income Statement Commentary
    • 1256 Words
    • 6 Pages

    Bsa 500 Week 4 Balance Sheet and Income Statement Commentary

    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
    Read More
  • Satisfactory Essays

    Acc 220 Financial Statement
    • 264 Words
    • 2 Pages

    Acc 220 Financial Statement

    * 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
    Read More
  • Satisfactory Essays

    Exercise 1
    • 442 Words
    • 5 Pages

    Exercise 1

    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
    Read More
  • Satisfactory Essays

    Basics of Accounting
    • 655 Words
    • 2 Pages

    Basics of Accounting

    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
    Read More
  • Best Essays

    Analytical Financial Review of Scottish and Newcastle
    • 2317 Words
    • 10 Pages

    Analytical Financial Review of Scottish and Newcastle

    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
    Read More
  • Satisfactory Essays

    Principles of Accounting
    • 938 Words
    • 4 Pages

    Principles of Accounting

    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
    Read More
  • Better Essays

    Account: Eleven Key Accounting Concepts Entity
    • 990 Words
    • 4 Pages

    Account: Eleven Key Accounting Concepts Entity

    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
    Read More
  • Good Essays

    accounting theory
    • 704 Words
    • 3 Pages

    accounting theory

    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
    Read More
  • Satisfactory Essays

    Basic Elements of Accounting
    • 614 Words
    • 3 Pages

    Basic Elements of Accounting

    |Revenue |What is earned for goods and/or services provided by the company. Revenues are |…

    • 614 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Basic Elements of Accounting
    • 1482 Words
    • 6 Pages

    Basic Elements of Accounting

    * BOD: The main function of the board is to manage the business in the best interest, primarily of the shareholders. In other words it is their duty to add value to the business which, by definition, requires the director to ensure that the Thanh Dung Company continues to improve its profitability and the price or value of its shares. They will set up targets, policies and strategies to create the premise for the operation of Thanh Dung Company.…

    • 1482 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    accounting theory
    • 1988 Words
    • 9 Pages

    accounting theory

    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
    Read More
  • Powerful Essays

    Poa Sba
    • 3144 Words
    • 13 Pages

    Poa Sba

    | 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
    Read More
  • Satisfactory Essays

    Philip Inc., and Morris Company: Case Study
    • 318 Words
    • 2 Pages

    Philip Inc., and Morris Company: Case Study

    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
    Read More
  • Satisfactory Essays

    I need help
    • 3462 Words
    • 14 Pages

    I need help

    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
    Read More
  • Good Essays

    Nature of Accounts
    • 504 Words
    • 3 Pages

    Nature of Accounts

    A separate account is maintained for each item in the balance sheet. Transactions may be recorded by entering the amount by which each item is affected into the respective account. The process of recording transactions consists of…

    • 504 Words
    • 3 Pages
    Good Essays
    Read More

Related Topics