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Acconting lesson chapter two topic is recording bussiness transactions
Typology: Lecture notes
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Account
Ledger
Assets
Liabilities
Owner’s equity
Double- entry accounting T-account
● What are some asset accounts?
● Current assets are cash , or will be converted to cash, in one year or within the normal business operating cycle.
● What are some other examples?
110 Common Stocks
111 Private Sector Notes, Bonds and Shares
112 Public Sector Notes, Bonds and Shares
118 Other Marketable Securities
119 Provision for Decrease in Value of Marketable Securities (-)
180 Prepaid Expense for the Following Months
181 Income Accruals
● What are some liability accounts?
● Current liabilities are debts or obligations due within one year or within the operating cycle.
● What are some examples?
320 Suppliers
321 Notes Payable
322 Rediscount on Notes Payable (-)
326 Deposits and Guarantees Taken
329 Other Trade Payables
331 Due to Shareholders
332 Due to Participations
333 Due to Subsidiaries
335 Due to Personnel
336 Other Liabilities
337 Rediscount on Other Notes Payable (-)