会计英语复式记账法

(Ⅱ)Sentences
• There are three basic forms of business entities: the proprietorship, the partnership and the corporation.(22-1) • The proprietorship has a single owner, called the proprietor, who is usually also the manager.(22-2) • The partnership joins two or more individuals together as co-owners.(22-3) • The corporation is a business owned by shareholders.(22-4)
• The double-entry bookkeeping The double-entry system is based on the principle of duality, which means that all events of economic importance have two aspects-effort and reward, sacrifice and benefit, source and use-that offset or balance each other. The rule of doubleentry bookkeeping is that every transaction affects at least two accounts. There must be one or more accounts debited and one or more accounts credited, and the total debits must equal the total credit. Accountants keep a record of each transaction and then transfer this information into the accounts.
Owner’s equity 所有者权益 Partnership 合伙企业 Proprietorship 独资企业；业主权 • individual proprietorship 独资经营 • 最简单的商务形式就是独资经营。 The simplest form business is called an individual proprietorship. The principle of duality:the quality or condition of being dual
(Ⅲ)Relevant Knowledge
• The types of business entities There are three basic forms of business entities: the proprietorship, the partnership and the corporation. The proprietorship has a single owner, called the proprietor, who is usually also the manager. The partnership joins two or more individuals together as co-owners, and each owner is a partner. The corporation is a business owned by shareholders, and it is a legal entity, an “artificial person” that conducts its business in its own name.
Credit:an entry recording a sum received, listed on the right-hand side or column of an account. The opposite of debit Debit:debit balance 借方结余 • 你需要记录你账目的借贷情况。 you need to record debits or credits made to your account. • 我的银行账目有存款。 My account is in credit.
AcBaidu Nhomakorabeaounting English
Business School Jiangli E-mail:JLSHADOW@163.com
Unit 2 Recording Business Transactions
(Ⅰ)Professional Terms
Accounts payable:money owed by a company to its creditors Accounts receivable:money owed to a company by its debtors Notes payable Notes receivable
• The accounting equation The accounting equation shows the relationship among assets, liabilities, and owner’s equity. Assets appear on the left-hand side of the equation. The legal and economic claims against the assets-the liabilities and owner’s equity appear on the right-hand side of the equation: Assets=Liabilities + Owner’s Equity
Answer:
c.To have a chronological record of all transactions
Journal:(in bookkeeping) a daily record of business transactions with a statement of the accounts to which each is to be debited and credited • bank deposit journal 银行存款日记帐 • journal entry 日记账分录 Ledger:a book or other collection of financial accounts of a particular type • the total balance of the purchases ledger 购物账总结算额
Answer:
b.Increase an asset and increase owner’s equity
• Why do accountants record transactions in the journal?( )
a.To ensure that all transactions are posted to the ledger b.To ensure that total debits equal total credits c.To have a chronological record of all transactions d.To help prepare the financial statemens
• The accounting equation shows the relationship among assets, liabilities, and owner’s equity.(23-2) • The double-entry system is based on the principle of duality, which means that all events of economic importance have two aspects-effort and reward, sacrifice and benefit, source and use-that offset or balance each other.(25-1) • In actual practice, accountant records transactions first in a book called the Journal.(29-1)
(Ⅳ)Exercises
• The performance of service for a customer or client and immediate receipt of cash will ( )
a.Increase one asset and decrease another asset b.Increase an asset and increase owner’s equity c.Increase an asset and decrease a liability d.Increase an asset and increase a liability