alternative plan for 5 th year accounting maura fehily
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Alternative Plan for 5 th Year Accounting Maura Fehily. KWL. 3 rd Year Students T/Y Students. - PowerPoint PPT PresentationTRANSCRIPT
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Alternative Plan for 5th Year Accounting
Maura Fehily
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K W L
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3rd Year StudentsT/Y Students
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Alternative Plan( Use the hyperlink plans)Double Entry/Trial BalanceTrading, Profit & Loss and Balance SheetIncomplete RecordsService a/cClub a/cDepreciationBank ReconciliationControl a/c
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What is a transaction?
Picture
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2 PEOPLE INVOVEDRECEIVER GIVER
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Debit CreditRECEIVER GIVER
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5th Year Worksheet September 20141. Sold goods for 200€ cash Debit________ Credit________2 Bought goods for 2,000€ bank Debit________ Credit________3 Purchased goods on credit 2,100€ from Mary Murphy Debit________ Credit________4 Purchased goods on credit 6,200€ from Sophie O’Brien Debit________ Credit________5 Sold goods for 1,200€ on Credit to Pat Dunne Debit________ Credit________
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sportDebitAssetsExpensesPurchases
€ CreditLiabilitiesGainsSales
€
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Similarities
Club/Service/BusinessAccumulated Fund/CapitalCash/BankFinal Accounts
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AdjustmentsExpense a/c (Stationary a/c)
Opening BalanceBankCash Balance b/d
€ 25 100 125 250 230
PrepaidClosing Balance c/d
€ 20 230 ___ 250
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