Double-entry

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1、单击此处编辑母版标题样式,,单击此处编辑母版文本样式,,第二级,,第三级,,第四级,,第五级,,*,*,*,,,Understand how double-entry,,accounting works,Debit n.,借,,,借方,,,借记,,Debit card,借记卡,,,v.,计入借方,,,借计,,Debit an account,计入借方账,,Credit n.,贷,,,贷方,,,贷记,,Credit card,贷记卡,,,v.,计入贷方,,,贷计,,Credit an account,计入贷方账,Double-Entry Accounting,“ Double-ent

2、ry accounting is based on a simple concept: each party in a business transaction will receive something and give something in return. In bookkeeping terms, what is received is a debit and what is given is a credit. The T account is a representation of a scale or balance.”,Luca Pacioli,,Developer of,

3、,Double-Entry,,Accounting,Scale or Balance,Receive,,DEBIT,Give,,CREDIT,T account,Left Side,,Receive,,DEBIT,Right Side,,Give,,CREDIT,T-account,T-account,: a simplest form of an account, used to illustrate the effect of transaction.,Account name,Debit entries,,(left side),Credit entries,,(right side)

4、,,,Double-entry accounting,means to record the dual effects of each business transaction.,,,Single – entry accounting,The Double-Entry System,Under the double-entry bookkeeping system, the twofold effect of every transaction is recorded.,e.g.,the check stub from the rent payment,,Dr. rent Expense,

5、,,Cr. Cash,,,存根,1.Each transaction affects at least two accounts.,2. Total debits must equal total credits.,Rules of The Double-Entry System,,,Owner’s Equity,,Assets,,Liabilities,,,,Debit,,+,,,,Debit,,–,,,,Credit,,–,,,,Debit,,–,,,,Credit,,+,,,,Credit,,+,=,+,rules of debits &credits,The type of a

6、ccount determines the side on which increases and decreases are recorded.,**,The rules of debits and credits keep the accounting equation in balance.,These rules are shown in a T-account form:,,Rules of Debit and Credit,Account Title,Assets,,Expenses,,Liabilities,,Owners’ equity,,revenues,,,Dr.,Cr.,

7、Assets,,Expenses,,Liabilities,,Owners’ equity,,revenues,,,,Rules of Debit and Credit(1),,Assets,,Dr.,Cr.,,,Normal Balance,,Rules of Debit and Credit(2),Liabilities,,Dr.,Cr.,,,Normal Balance,,Rules of Debit and Credit(3),Owners’ Equity,Dr.,Cr.,Normal Balance,,Rules of Debit and Credit(4),,Revenues

8、,Dr.,Cr.,Normal Balance,,Rules of Debit and Credit(5),Expenses,Dr.,Cr.,,,Normal Balance,Any amounts paid to its proprietor are treated as appropriations of profit and not as expenses incurred.,Assets,Owners’,,Equity,Withdrawal are amounts of money taken out of the business by its owner.,Dividends payable,,,Assets,Payment of Dividends,