Valenzuela National High School Third Periodical Examination Technology and Livelihood Education - Basic Bookkeeping and Accounting S.Y. 2011 – 2012 I. Multiple Choice: Directions: Read and analyze the questions carefully and write the letter of the correct answer on your answer sheet. 1. What columnar sheet of paper is used to summarize information needed to prepare the financial statements of the business? a. General Journal c.Trial Balance b. General Ledger d. Worksheet
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and Accounting 2 Introduction to Accounting Learning Objectives Objectives of Accounting Functions of Accounting Advantages of Accounting Limitations of Accounting Accounting Information and its’ Types Users of Accounting Information Systems of Accounting 3 Introduction to Accounting DEFINITION OF ACCOUNTING "Accounting is the art of recording‚ classifying and summarising in a significant manner and in terms of money; transactions and events which are‚ in part at least‚ of
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Supplies for Cash Purchase Supplies Via Payables Misc. Pay Rent Exercise Deliverables Deliverables are consolidated into one answer sheet at the end of this exercise. For this exercise you will need the following deliverables. In the System: Journal Entries On Paper: Document numbers for each step. Answers to the Questions You may be assigned additional deliverables. Be sure to check with your instructor! Page 2 of 17 For
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Module 2: Preparation of Books of Accounts Double Entry System • Double entry system was introduced to the business world by an Italian merchant named Lucas Pacioli in 1494 A.D. According to J.R.Batliboi “Every business transaction has a two-fold effect and that it affects two accounts in opposite directions and if a complete record were to be made of each such transaction‚ it would be necessary to debit one account and credit another account. It is this recording of the two fold effect of every
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Module A: Introduction and Environment • Purpose‚ Nature‚ Uses and Users of Accounting Information‚ Functional and Operational Definition of Accounting‚ Accounting Principles‚ Standards and Regulations‚ Forms of Business Organizations and Accounting systems. Module B: Analysis of Financial Statement • Objectives of Financial Statement Analysis‚ Financial Statement Analysis‚ Horizontal and Vertical Analysis‚ Comparative Financial Statements‚ Communize Statements‚ Financial Ration Analysis‚ Trend Percentage
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is entered in the banks systems and when data is entered in the individual’s system‚ there is sometimes a normal discrepancy between account balances. The goal of reconciliation is to determine if the discrepancy is due to error rather than timing. A bank reconciliation statement is a statement which indicates on a specific date why there is a difference between the bank account balance in the general ledger and the current account balance on the bank statement. Entries that appear on the bank statement
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invented record keeping systems. They also kept running inventories of wealth‚ trade‚ and tribute payments. Temples‚ palaces and private businesses employed hundreds of scribes‚ and it was considered a prestigious profession. Clay‚ which was plentiful in the area‚ was molded to size and then the information required was written into the clay with a sharpened wooden rod. The clay tablet was then dried and was kept as a permanent record. The Egyptians also used a system similar to the Babylonians
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Internship Report On “Foreign Exchange Operations‚ A Study on Jamuna Bank Limited” INTERNSHIP REPORT ON “Foreign Exchange operations‚ A Study on Jamuna Bank Limited" PREPARED BY Md. Farhan Sadik ID- 09102101040 Intake-21st Program- BBA Major in Accounting Bangladesh University of Business & Technology (BUBT) SUPERVISED BY Ashrafuzzman Internship Supervisor Lecturer Department of Accounting Bangladesh University of Business & Technology (BUBT) Bangladesh
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the journal‚ posted to the ledger‚ an unadjusted trial balance is prepared‚ adjustment data are assembled and analyzed‚ an optional end-of-period spreadsheet is prepared‚ adjusting entries are journalized and posted to the ledger‚ an adjusted trial balance is prepared‚ financial statement are prepared‚ closing entries are journalized and posted to the ledger‚ and post-closing trial balance is prepared. In this paper I will be explaining the overall accounting process and describe the steps most business
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trial balance A trial balance is a list with two columns‚ which are debit and credit. It is important to every company that they need to check the errors that maybe made during enter the transactions into general accounts. If the principles of the double entry have been correctly applied to the recording of transactions in ledger accounts‚ the total of debit balances will equal to the total of credit balances. So the total of the debit column should be equal to the total of credit column in the trial
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