Cuenta
 Una cuenta es un registro individual
de contabilidad donde se registran
aumentos y disminuciones de un
activo, deuda, o owner’s equity
especifico.
 Una compañía va a tener cuentas
separadas para cash, salaries expense,
accounts payable, etc.
ILLUSTRATION 2-1
Forma básica de una cuenta
 En su forma mas simple, una cuenta consiste en :
1 el titulo de la cuenta,
2 un lado izquierdo o un lado debito
3 un lado derecho o un lado credito
 El arreglo de estas partes se parece a una letra T, y por
eso se le conoce como cuentas T
Titulo de la cuenta
Lado Izquierdo o
Debito
Lado derecho o Credito
Balance debito
Balance credito
Debitos y Créditos
 El termino debito significa izquierda y credito significa
derecha
 El acto de entrar una cantidad en el lado izquierdo de una
cuenta se le conoce como debitar y hacer una entrada en el
lado derecho se le conoce como acreditar.
 Cuando la cantidad de los debitos excede los creditos, la
cuenta tiene un balance debito; cuando ocurre lo
contrario tiene un balance credito
DR
CR
ILLUSTRATION 2-2
TABULAR SUMMARY COMPARED TO
ACCOUNT FORM
Resumen Tabular
Forma de cuenta
Cash
$15,000
- 7,000
1,200
1,500
- 1,700
- 250
600
- 1,300
Cash
$ 8,050
Debit
15,000
1,200
1,500
600
Balance $8,050
(Debit)
Credit
7,000
1,700
250
1,300
Debitando una cuenta
Cash
Debito
15,000
Crédito
Example: Inversion inical del dueño del
negocio de $15,000 Cash es
debitado y the owner’s Capital
es acreditado.
Acreditar una cuenta
Cash
Debits
Credits
7,000
Example: Renta mensual de $7,000 es
pagada. Se acredita Cash y se
debita Rent Expense
Debitando Y Acreditando
una cuenta
Cash
Debits
15,000
8,000
Credits
7,000
Example: Cash es debitado por $15,000 y
acreditado por $7,000, dejando un
balance debito de $8,000.
Sistema de doble entrada
 En un sistema de doble entrada (double-entry
system), debitos y creditos iguales son
realizados a las cuentas para cada transaccion
 Asi, el total de debitos va a ser igual al total de
creditos y la ecuacion siempre se queda
balanceada
Assets
Liabilities
Equity
Efectos de los Debitos y Créditos
en los Activos y las Deudas
Debitos
Aumento en activo
Disminuye deuda
Créditos
Disminuye activo
Aumenta la deuda
Balance Normal
Cada clasificacion de cuentas tiene
un balance normal ya sea credito o
debito.
Para una cuenta en particular, el
lado opuesto de una cuenta no debe
exceder el balance normal.
Balances Normales
Activos y Pasivos
Activos (Assets)
Aumentan Disminuyen
Debito
Crédito
Balance
Normal
Deudas (Liabilities)
Disminuye Aumento
Debito
Credito
Balance
Normal
ILLUSTRATION 2-5
Efectos de Debito y Credito-- OWNER’S CAPITAL
Debitos
Disminucion owner’s capital
Creditos
Aumento owner’s capital
NORMAL BALANCE
OWNER’S CAPITAL
Owner’s Capital
Disminuyen
Debito
Aumentan
Credito
Normal
Balance
DEBIT AND CREDIT EFFECTS
OWNER’S DRAWING
Debits
Aumentan los retiros del
dueño
Credits
Disminucion los retiros del
dueño
ILLUSTRATION 2-8
NORMAL BALANCE — OWNER’S DRAWING
Owner’s Drawing
Debito para
Aumentar
Balance
Normal
Credito para
Disminuir
Efectos de los debitos y Creditos en los
Ingresos y los Gastos
Debitos
Creditos
Disminuyen los Ingresos
Aumentan los Ingresos
Aumentan los gastos
Disminuyen los Gastos
Balances normales
Ingresos & Gastos
Ingresos (revenues)
Debito
Disminuye
Credito
Aumenta
Balance
Normal
Gastos (expenses)
Debito
Aumentan
Balance
Normal
Credito
Disminuye
ILLUSTRATION 2-11
EXPANDED BASIC EQUATION AND
DEBIT/CREDIT RULES AND EFFECTS
Assets
Assets
Dr.
+
Cr.
-
= Liabilities
=
Liabilities
Dr.
-
Owner’s Equity
+
+
Cr.
+
Owner’s
Capital
Dr.
-
+
Cr.
+
Revenues
Dr.
-
-
Cr.
+
Owner’s
Drawing
Dr.
+
-
Cr.
-
Expenses
Dr.
+
Cr.
-
STUDY OBJECTIVE 3
Identify the basic steps in the recording process.
STEPS IN THE
RECORDING PROCESS
Los pasos basicos en el proceso de registro
son:
1 Analizar cada transaccion para ver los
efectos en las cuentas
2 Entrar la informacion en un jornal
3 Transferir la informacion del jornal a las
cuentas en el mayor
ILLUSTRATION 2-12
THE RECORDING PROCESS
JOURNAL
JOURNAL
LEDGER
1 Analyze each transaction
2 Enter transaction in a journal
3 Transfer journal information to ledger accounts
STUDY OBJECTIVE 4
Explain what a journal is and how it
helps in the recording process.
El Jornal
 Transacciones son registradas inicialmente en
orden cronologico en un jornal antes de
transferirse a las cuentas.
 Cada compania tiene un jornal general el cual
contiene:
1 Espacio para la fechas,
2 titulos de las cuentas y explicaciones,
3 referencias
4 dos columnas de cantidad
THE JOURNAL
El jornal hace varias contribuciones en el proceso de
registro:
1 Divulga en un solo lugar el efecto completo de la
transaccion
2 Provee registro cronologico de cada transaccion
3 Ayuda a prevenir y localizar errores ya que las
cantidades pueden ser comparadas una con la otra
JOURNALIZING
 Entrar data en el jornal se conoce como
jornalizacion
 Entradas separadas se hacen para cada
transaccion
 Una entrada completa consiste de :
1 la fecha de la transaccion
2 la cuenta y cantidades a debitar y acreditar
3 una explicacion breve de la transaccion
ILLUSTRATION 2-13
TECHNIQUE OF JOURNALIZING
The date of the transaction is entered in the date column.
J1
G EN ER AL JO U R N AL
D a te
A c c o u n t T itle s a n d E x p la n a tio n
2002
S e p t. 1
1
Cash
R . N e a l, C a p ita l
(In ve s te d c a s h in b u s in e s s )
C o m p u te r E q u ip m e n t
Cash
(P u rc h a s e d e q u ip m e n t fo r
cash)
R e f.
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
7 ,0 0 0
7 ,0 0 0
ILLUSTRATION 2-13
TECHNIQUE OF JOURNALIZING
Los titulos de la cuenta que se debita se entran en el
margen izquierdo de la columna de titulos de cuenta y
explicacion. Las cuentas credito se indenta hacia la
derecha del margen.
J1
G EN ER AL JO U R N AL
D a te
A c c o u n t T itle s a n d E x p la n a tio n
2002
S e p t. 1
1
Cash
R . N e a l, C a p ita l
(In ve s te d c a s h in b u s in e s s )
C o m p u te r E q u ip m e n t
Cash
(P u rc h a s e d e q u ip m e n t fo r
cash)
R e f.
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
7 ,0 0 0
7 ,0 0 0
ILLUSTRATION 2-13
TECHNIQUE OF JOURNALIZING
La cantidad para los debitos se registra en la columna
de debito y la cantidad para los creditos se registra en
la columna credito.
J1
G EN ER AL JO U R N AL
D a te
A c c o u n t T itle s a n d E x p la n a tio n
2002
S e p t. 1
1
Cash
R . N e a l, C a p ita l
(In ve s te d c a s h in b u s in e s s )
C o m p u te r E q u ip m e n t
Cash
(P u rc h a s e d e q u ip m e n t fo r
cash)
R e f.
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
7 ,0 0 0
7 ,0 0 0
ILLUSTRATION 2-13
TECHNIQUE OF JOURNALIZING
Una breve explicacion de la transaccion es dada.
J1
G EN ER AL JO U R N AL
D a te
A c c o u n t T itle s a n d E x p la n a tio n
2002
S e p t. 1
1
Cash
R . N e a l, C a p ita l
(In ve s te d c a s h in b u s in e s s )
C o m p u te r E q u ip m e n t
Cash
(P u rc h a s e d e q u ip m e n t fo r
cash)
R e f.
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
7 ,0 0 0
7 ,0 0 0
ILLUSTRATION 2-13
TECHNIQUE OF JOURNALIZING
Un espacio se deja entre entradas de jornal. El espacio
en blanco separa entradas individuales y hace que el
jornal se pueda leer mas facil.
J1
G EN ER AL JO U R N AL
D a te
A c c o u n t T itle s a n d E x p la n a tio n
2002
S e p t. 1
1
Cash
R . N e a l, C a p ita l
(In ve s te d c a s h in b u s in e s s )
C o m p u te r E q u ip m e n t
Cash
(P u rc h a s e d e q u ip m e n t fo r
cash)
R e f.
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
7 ,0 0 0
7 ,0 0 0
ILLUSTRATION 2-13
TECHNIQUE OF JOURNALIZING
La columna titulada Ref. Se deja en blanco al
momento de que se hace la entrada de jornal y se usa
luego cuando las entradas se transfieren al mayor.
J1
G EN ER AL JO U R N AL
D a te
A c c o u n t T itle s a n d E x p la n a tio n
2002
S e p t. 1
1
Cash
R . N e a l, C a p ita l
(In ve s te d c a s h in b u s in e s s )
C o m p u te r E q u ip m e n t
Cash
(P u rc h a s e d e q u ip m e n t fo r
cash)
R e f.
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
7 ,0 0 0
7 ,0 0 0
SIMPLE AND COMPOUND
JOURNAL ENTRIES
Si una entrada tiene dos cuentas, una debito y una
credto se considera como una entrada simple.
J1
G EN ER AL JO U R N AL
D a te
2002
J u ly 1
A c c o u n t T itle s a n d E x p la n a tio n
Cash
K . B ro w n e , C a p ita l
(In ve s te d c a s h in th e
b u s in e s s )
R e f.
D e b it
C re d it
2 0 ,0 0 0
2 0 ,0 0 0
ILLUSTRATION 2-14
COMPOUND JOURNAL ENTRY
Cuando tres o mas cuentas se requieren en una
entrada de jornal, la entrada se conoce como
entrada compuesta
J1
G EN ER AL JO U R N AL
D a te
2002
J u ly 1
1
2
3
A c c o u n t T itle s a n d E x p la n a tio n
D e live ry E q u ip m e n t
Cash
A c c o u n ts P a ya b le
(P u rc h a s e d tru c k fo r c a s h
w ith b a la n c e o n a c c o u n t)
R e f.
D e b it
C re d it
1 4 ,0 0 0
8 ,0 0 0
6 ,0 0 0
COMPOUND JOURNAL ENTRY
Este es el formato erroneo; TODOS los debitos deben
listarse antes de los creditos
J1
G EN ER AL JO U R N AL
D a te
2002
J u ly 1
A c c o u n t T itle s a n d E x p la n a tio n
Cash
D e live ry E q u ip m e n t
A c c o u n ts P a ya b le
(P u rc h a s e d tru c k fo r c a s h
w ith b a la n c e o n a c c o u n t)
R e f.
D e b it
C re d it
8 ,0 0 0
1 4 ,0 0 0
6 ,0 0 0
STUDY OBJECTIVE 5
Explain what a ledger is and how it helps
in the recording process.
El mayor
El grupo entero de cuentas que mantiene una
compania se conoce como ledger (mayor).
Un general ledger (mayor general) contiene todas
las cuentas de activos, deudas y owner’s equity.
GENERAL
LEDGER
ILLUSTRATION 2-15
THE GENERAL LEDGER
Individual
Assets
Equipment
Land
Supplies
Cash
Individual
Liabilities
Interest Payable
Salaries Payable
Accounts Payable
Notes Payable
Individual
Owner’s Equity
Salaries Payable
Fees Earned
J. Lind, Drawing
J. Lind, Capital
STUDY OBJECTIVE 6
Explain what posting is and how it helps
in the recording process.
ILLUSTRATION 2-17
POSTING A JOURNAL ENTRY
J1
G E N E R AL J O U R N AL
D a te
2002
S e p t. 1
A c c o u n t T itle s a n d E x p la n a tio n
R e f.
Cash
R . N e a l, C a p ita l
(in ve s te d c a s h in b u s in e s s )
10
25
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
G E N E R AL L E D G E R
NO . 10
C AS H
D a te
E x p la n a tio n
2002
S e p t. 1
R e f.
J1
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
NO . 25
R . N E AL , C AP IT AL
D a te
2002
S e p t. 1
E x p la n a tio n
B a la n c e
R e f.
J1
D e b it
C re d it
B a la n c e
1 5 ,0 0 0
1 5 ,0 0 0
In the ledger, enter in the appropriate columns of the account(s)
debited the date, journal page, and debit amount shown in the journal.
ILLUSTRATION 2-17
POSTING A JOURNAL ENTRY
J1
G E N E R AL JO U R N AL
D a te
2002
S e p t.
1
A c c o u n t T itle s a n d E x p la n a tio n
R e f.
Cash
R . N e a l, C a p ita l
(in v e s te d c a s h in b u s in e s s )
10
25
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
G E N E R AL L E D G E R
NO . 10
C AS H
D a te
E x p la n a tio n
2002
S e p t. 1
R e f.
J1
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
NO . 25
R . N E AL , C AP IT AL
D a te
2002
S e p t. 1
E x p la n a tio n
B a la n c e
R e f.
J1
D e b it
C re d it
B a la n c e
1 5 ,0 0 0
1 5 ,0 0 0
In the reference column of the journal, write the account
number to which the debit amount was posted.
ILLUSTRATION 2-17
POSTING A JOURNAL ENTRY
J1
G E N E R AL J O U R N AL
D a te
2002
S e p t. 1
A c c o u n t T itle s a n d E x p la n a tio n
R e f.
Cash
R . N e a l, C a p ita l
(in ve s te d c a s h in b u s in e s s )
10
25
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
G E N E R AL L E D G E R
NO . 10
C AS H
D a te
E x p la n a tio n
2002
S e p t. 1
R e f.
J1
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
NO . 25
R . N E AL , C AP IT AL
D a te
2002
S e p t. 1
E x p la n a tio n
B a la n c e
R e f.
J1
D e b it
C re d it
B a la n c e
1 5 ,0 0 0
1 5 ,0 0 0
In the ledger, enter in the appropriate columns of the account(s) credited
the date, journal page, and credit amount shown in the journal.
ILLUSTRATION 2-17
POSTING A JOURNAL ENTRY
J1
G E N E R AL JO U R N AL
D a te
2002
S e p t.
1
A c c o u n t T itle s a n d E x p la n a tio n
R e f.
Cash
R . N e a l, C a p ita l
(in v e s te d c a s h in b u s in e s s )
10
25
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
G E N E R AL L E D G E R
NO . 10
C AS H
D a te
E x p la n a tio n
2002
S e p t. 1
R e f.
J1
D e b it
C re d it
1 5 ,0 0 0
1 5 ,0 0 0
NO . 25
R . N E AL , C AP IT AL
D a te
2002
S e p t. 1
E x p la n a tio n
B a la n c e
R e f.
J1
D e b it
C re d it
B a la n c e
1 5 ,0 0 0
1 5 ,0 0 0
In the reference column of the journal, write the account
number to which the credit amount was posted.
CHART OF ACCOUNTS
Muchas companias tienen un chart of accounts (carta de cuenta) que enlista
las cuentas y los numeros de cuenta la cual identifica la localizacion en el
mayor
P ioneer Advertising Agency
Assets
101.
112.
126.
130.
157.
158.
200.
201.
209.
212.
236.
C ash
Accounts R eceivable
Advertising S upplies
P repaid Insurance
O ffice E quipm ent
Accum ulated D epreciation — O ffice E quipm ent
Liabilities
N otes P ayable
Accounts P ayable
U nearned Fees
S alaries P ayable
Interest P ayable
301.
306.
350.
400.
631.
722.
726.
729.
905.
911.
O w ner’s E quity
C .R . B yrd, C apital
C .R . B yrd, D raw ing
Incom e S um m ary
R evenues
Fees E arned
E xpenses
Advertising S upplies E xpense
Insurance E xpense
S alaries E xpense
R ent E xpense
Interest E xpense
D epreciation E xpense
Inversion de Cash por el dueño
Transaccion
Analisis
Basico
Analisis
Debit-Credit
Octubre 1, C.R. Byrd invierte $10,000 en
efectivo en un sociedad de publicidad que se
conoce como Pioneer Advertising Agency.
Los activos Cash se aumentan $10,000, y el
owner’s equity C. R. Byrd, Capital se aumenta por
$10,000.
Debito aumenta los activos: debito Cash $10,000.
Credito aumentan owner’s equity: credit C.R.
Byrd, Capital $10,000.
ILLUSTRATION 2-19
INVESTMENT OF CASH BY OWNER
JOURNAL ENTRY
D a te
O c t.
1
A c c o u n t T itle s a n d E x p la n a tio n
R e f.
Cash
C . R . B yrd , C a p ita l
(In ve s te d c a s h in b u s in e s s )
101
301
D e b it
C re d it
1 0 ,0 0 0
1 0 ,0 0 0
POSTING
Cash
O c t.
1
1 0 ,0 0 0
101
C . R . B y rd , C a p ita l
O c t.
1
301
1 0 ,0 0 0
PURCHASE OF
OFFICE EQUIPMENT
Transaccion
October 1, Se compra equipo de oficina costando
$5,000 y se compra mediante el uso de una nota por
pagar de 3-meses, 12%, $5,000.
Analisis
Basico
Los activos Office Equipment se aumentan por
$5,000, y las Notes Payable se aumentan por
$5,000.
Analisis
Debit-Credit
Debito aumentan los activos: debit Office
Equipment $5,000. Creditos aumentan deudas:
credit Notes Payable $5,000.
ILLUSTRATION 2-20
PURCHASE OF OFFICE EQUIPMENT
JOURNAL ENTRY
D a te
O c t.
A c c o u n t T itle s a n d E x p la n a tio n
1
O ffic e E q u ip m e n t
N o te s P a ya b le
(Is s u e d 3 -m o n th , 1 2 % n o te
fo r o ffic e e q u ip m e n t)
R e f.
157
200
D e b it
C re d it
5 ,0 0 0
5 ,0 0 0
POSTING
O ffic e E q u ip m e n t
O c t.
1
5 ,0 0 0
157
N o te s P a ya b le
O c t.
200
1
5 ,0 0 0
ILLUSTRATION 2-21
RECEIPT OF CASH FOR FUTURE SERVICE
Transaction
Basic
Analysis
Debit-Credit
Analysis
October 2, a $1,200 cash advance is received from
R. Knox, a client, for advertising services that are
expected to be completed by December 31.
The asset Cash is increased $1,200; the liability
Unearned Fees is increased $1,200 because the
service has not been rendered yet. Note that
although many liabilities have the word “payable” in
their title, unearned fees are considered a liability
even though the word payable is not used.
Debits increase assets: debit Cash $1,200.
Credits increase liabilities: credit Unearned Fees
$1,200.
ILLUSTRATION 2-21
RECEIPT OF CASH FOR FUTURE SERVICE
JOURNAL ENTRY
D a te
O c t.
2
A c c o u n t T itle s a n d E x p la n a tio n
R e f.
Cash
U n e a rn e d F e e s
(R e c e ive d a d va n c e fro m R .
K n o x fo r fu tu re s e rvic e s )
101
209
D e b it
C re d it
1 ,2 0 0
1 ,2 0 0
POSTING
Cash
O c t.
1
2
1 0 ,0 0 0
1 ,2 0 0
101
U n e a rn e d F e e s
O c t.
2
209
1 ,2 0 0
ILLUSTRATION 2-22
PAYMENT OF MONTHLY RENT
Transaction
October 3, office rent for October is paid in cash,
$900.
Basic
Analysis
The expense Rent is increased $900 because the
payment pertains only to the current month; the
asset Cash is decreased $900.
Debit-Credit
Analysis
Debits increase expenses: debit Rent Expense $900.
Credits decrease assets: credit Cash $900.
ILLUSTRATION 2-22
PAYMENT OF MONTHLY RENT
JOURNAL ENTRY
D a te
O c t.
A c c o u n t T itle s a n d E x p la n a tio n
3
R ent Expense
Cash
(P a id O c to b e r re n t)
R e f.
729
101
D e b it
C re d it
900
900
POSTING
Cash
O c t.
1
2
1 0 ,0 0 0
1 ,2 0 0
O c t.
101
3
900
Rent Expense
O c t.
3
900
729
ILLUSTRATION 2-23
PAYMENT FOR INSURANCE
Transaction
Basic
Analysis
Debit-Credit
Analysis
October 4, $600 is paid for a one-year insurance
policy that will expire next year on September 30.
The asset Prepaid Insurance is increased $600
because the payment extends to more than the
current month; the asset Cash is decreased $600.
Note that payments of expenses that will benefit more
than one accounting period are identified as prepaid
expenses or prepayments. When a payment is made,
an asset account is debited in order to show the
service or benefit that will be received in the future.
Debits increase assets: debit Prepaid Insurance
$600. Credits decrease assets: credit Cash $600.
ILLUSTRATION 2-23
PAYMENT FOR INSURANCE
JOURNAL ENTRY
D a te
O c t.
A c c o u n t T itle s a n d E x p la n a tio n
4
P re p a id In s u ra n c e
Cash
(P a id o n e -ye a r p o lic y;
e ffe c tive d a te O c to b e r 1 )
R e f.
130
101
D e b it
C re d it
600
600
POSTING
Cash
O c t.
1
2
1 0 ,0 0 0
1 ,2 0 0
101
O c t.
3
4
900
600
P rep aid Insu rance
O ct. 4
600
130
ILLUSTRATION 2-24
PURCHASE OF SUPPLIES ON CREDIT
Transaction
October 5, an estimated 3-month supply of
advertising materials is purchased on account from
Aero Supply for $2,500.
Basic
Analysis
The asset Advertising Supplies is increased $2,500;
the liability Accounts Payable is increased $2,500.
Debit-Credit
Analysis
Debits increase assets: debit Advertising Supplies
$2,500. Credits increase liabilities: credit
Accounts Payable $2,500.
ILLUSTRATION 2-24
PURCHASE OF SUPPLIES ON CREDIT
JOURNAL ENTRY
D a te
O c t.
5
A c c o u n t T itle s a n d E x p la n a tio n
R e f.
A d ve rtis in g S u p p lie s
A c c o u n ts P a ya b le
(P u rc h a s e d s u p p lie s o n
a c c o u n t fro m A e ro S u p p ly)
126
201
D e b it
C re d it
2 ,5 0 0
2 ,5 0 0
POSTING
A d ve rtis in g S u p p lie s
O c t.
5
2 ,5 0 0
126
A c c o u n ts P a ya b le
O c t.
5
201
2 ,5 0 0
ILLUSTRATION 2-25
HIRING OF EMPLOYEES
Transaction
Basic
Analysis
Debit-Credit
Analysis
October 9, hire four employees to begin work on
October 15. Each employee is to receive a weekly
salary of $500 for a 5-day work week, payable every
2 weeks -- first payment made on October 26.
A business transaction has not occurred. There is
only an agreement between the employer and the
employees to enter into a business transaction
beginning on October 15.
A debit-credit analysis is not needed because there is
no accounting entry.
ILLUSTRATION 2-26
WITHDRAWAL OF CASH BY OWNER
Transaction
Basic
Analysis
Debit-Credit
Analysis
October 20, C. R. Byrd withdraws $500 cash for
personal use.
The owner’s equity account C. R. Byrd, Drawing is
increased $500; the asset Cash is decreased $500.
Debits increase drawings: debit C. R. Byrd,
Drawing $500. Credits decrease assets: credit
Cash $500.
ILLUSTRATION 2-26
WITHDRAWAL OF CASH BY OWNER
JOURNAL ENTRY
D a te
A c c o u n t T itle s a n d E x p la n a tio n
O c t. 2 0
C . R . B yrd , D ra w in g
Cash
(W ith d re w c a s h fo r p e rs o n a l
use)
R e f.
D e b it
306
101
C re d it
500
500
POSTING
Cash
O c t.
1
2
1 0 ,0 0 0
1 ,2 0 0
O c t.
101
3
4
20
900
600
500
C . R . B yrd , D ra w in g
O c t. 2 0
500
306
ILLUSTRATION 2-27
PAYMENT OF SALARIES
Transaction
Basic
Analysis
Debit-Credit
Analysis
October 26, employee salaries of $4,000 are owed
and paid in cash. (See October 9 transaction.)
The expense account Salaries Expense is increased
$4,000; the asset Cash is decreased $4,000.
Debits increase expenses: debit Salaries Expense
$4,000. Credits decrease assets: credit Cash $4,000.
ILLUSTRATION 2-27
PAYMENT OF SALARIES
JOURNAL ENTRY
D a te
O c t. 2 6
A c c o u n t T itle s a n d E x p la n a tio n
S a la rie s E x p e n s e
Cash
(P a id s a la rie s to d a te )
R e f.
726
101
D e b it
C re d it
4 ,0 0 0
4 ,0 0 0
POSTING
Cash
O c t.
1
2
1 0 ,0 0 0
1 ,2 0 0
101
O c t.
3
4
20
26
900
600
500
4 ,0 0 0
S a la rie s E x p e ns e
O c t. 2 6
4 ,0 0 0
726
ILLUSTRATION 2-28
RECEIPT OF CASH FOR FEES EARNED
Transaction
October 31, received $10,000 in cash from Copa
Company for advertising services rendered in
October.
Basic
Analysis
The asset Cash is increased $10,000; the revenue
Fees Earned is increased $10,000.
Debit-Credit
Analysis
Debits increase assets: debit Cash $10,000. Credits
increase revenues: credit Fees Earned $10,000.
ILLUSTRATION 2-28
RECEIPT OF CASH FOR FEES EARNED
JOURNAL ENTRY
D a te
O c t. 3 1
A c c o u n t T itle s a n d E x p la n a tio n
Cash
F e e s E a rn e d
(R e c e ive d c a s h fo r fe e s
e a rn e d )
R e f.
101
400
D e b it
C re d it
1 0 ,0 0 0
1 0 ,0 0 0
POSTING
Cash
O c t.
1
2
31
1 0 ,0 0 0
1 ,2 0 0
1 0 ,0 0 0
O c t.
101
3
4
20
26
900
600
500
4 ,0 0 0
F e e s E a rn e d
O c t. 3 1
400
1 0 ,0 0 0
STUDY OBJECTIVE 7
Prepare a trial balance and explain its purposes.
THE TRIAL BALANCE
 Un trial balance es una lista de las cuentas y su balance a
un tiempo especifico.
 El proposito primordial del trial balance es verificar si
los debitos igualan los creditos luego del posteo
 Si los debitos no concuerdadn el reporte se usa para
descubrir errores de jornalizacion y posteo
 El procedimiento para preparar el trial balance consiste
de:
1 Enlistar los titulos de la cuenta y sus balances
2 Totalizar las columnas de debito y credito
3 Proveer la igualdad de las dos columnas
ILLUSTRATION 2-31
A TRIAL BALANCE
P IO N E E R A D V E R T IS IN G A G E N C Y
T ria l B a la n ce
O ctober 3 1 , 2 0 0 2
D e b it
Cash
A d ve rtis in g S u p p lie s
P re p a id In s u ra n c e
O ffic e E q u ip m e n t
N o te s P a ya b le
A c c o u n ts P a ya b le
U n e a rn e d F e e s
C . R . B yrd , C a p ita l
C . R . B yrd , D ra w in g
F e e s E a rn e d
S a la rie s E x p e n s e
R ent Expense
The total debits
must equal the
total credits.
C re d it
$ 1 5 ,2 0 0
2 ,5 0 0
600
5 ,0 0 0
$
5 ,0 0 0
2 ,5 0 0
1 ,2 0 0
1 0 ,0 0 0
500
1 0 ,0 0 0
4 ,0 0 0
900
$ 2 8 ,7 0 0
$ 2 8 ,7 0 0
LIMITATIONS OF A
TRIAL BALANCE
 Un trial balance no provee que todas las transacciones
han sido registradas o que el mayor esta correcto
 Numerosos errores pueden existir aunque las columnas
cuadresn.
 The trial balance puede cuadrar aunque:
1 una transaccion no se jornalize
2 una entrada de jornal correcta no se postee
3 se postee doble
4 cuentas incorrectas son usadas
5 offsetting errors are made in recording the amount of
the transaction.
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Chapter02