Ent-Financial Record Keeping

What is chart of accounts?
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Slide 1: Woordweb
EntrepreneurshipSecondary Education

In deze les zitten 15 slides, met interactieve quizzen en tekstslides.

time-iconLesduur is: 60 min

Onderdelen in deze les

What is chart of accounts?

Slide 1 - Woordweb

Chapter 20.1
Financial Record Keeping
Pages 462-470

Slide 2 - Tekstslide

Objectives
Summarize the cash and accrual basis of income.
Analyze the special journals
Prepare the summary of sales and cash receipt


Slide 3 - Tekstslide

Slide 4 - Link

What is the difference between cash and accrual basis of a transaction?

Slide 5 - Open vraag

Why do businesses carry on the business mostly on accrual basis?

Slide 6 - Woordweb

Which kind of transaction record your income when it is received and
your expenses when they are paid?
A
Accrual Basis
B
Accruals
C
Special Payment
D
Cash basis

Slide 7 - Quizvraag

Special Journals
If a business gets larger, it may find that using one journal is not
sufficient to keep track of all its transactions. 
The business can then set up separate journals, called special journals, which record specific types of transactions.

Slide 8 - Tekstslide

Record the journal entry for the given transactions.Also mention the name of the journal you will be using.
1.Purchase of equipment for check 101 paying $450
2.Sale of goods for $500 and received check 205.

Slide 9 - Open vraag

Why are special journals required to record the transactions?

Slide 10 - Woordweb

Use the information provided here to prepare a Summary of Sales and cash receipt
Cash receipts                                                                     
 Opening cash/ Petty cash Fund
 Petty Cash Slips:$30.55,Coins and Bills:79.45,Petty cash Fund:$100.00
Cash Sales  : $2167.85                                                     Credit sales:     $450.00                                                                         
Collection on account :170.69
Miscellaneous receipts:70.63
Cash on Hand                                                      
Cash in Register
Coins : $76.00
Bills: $790.00

Checks:$1638.85







Slide 11 - Tekstslide

Answer for the above question here. You can use a word document to give the answer.

Slide 12 - Open vraag

Where on the summary are the daily sales totaled?
A
Cash receipts
B
Sales
C
Cash on Hand
D
Petty cash fund

Slide 13 - Quizvraag

The amount for Total
Cash Deposit must agree with the amount for Total Cash Receipts.If the amounts are not equal,what should you do?

Slide 14 - Woordweb

What are the main points of the lesson?

Slide 15 - Woordweb