BUAD 280 Week 3 Notes
BUAD 280 Week 3 Notes ECON 352
Popular in Economics
This 1 page Class Notes was uploaded by Manisha Malhotra on Thursday September 8, 2016. The Class Notes belongs to ECON 352 at University of Southern California taught by Fatemeh Ibrahimi Nazarian in Fall 2016. Since its upload, it has received 5 views. For similar materials see in Economics at University of Southern California.
Reviews for BUAD 280 Week 3 Notes
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 09/08/16
BUAD 280 Notes (9/7) • Transaction at least 2 accounts (summarizing and similar transactions) • A = L + SE • 1) analyze the transactions • dual effects • accounting equation must balance • 2) record the Journal Entry • total debits = total credits • JE record of all accounts affected by a single transaction • reference, account names, description, debit or credit, asset, liability, stockholders equity (taccount) • 3) post the Journal Entry’s activity to the Taccounts • 4) use the Taccounts to update the general ledger (GL) • 5) create a trial balance • 6) create financial statements • general journal chronological list of all journal entries • general ledger accumulates all of the transaction details for each individual account • trial balance list of all our accounts and their ending balances • accounts are listed in financial statement order: balance sheet, statement of retained earnings, income statement
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'