Principles of Accounting

1% to 3%

3% to 6%

2% to 5%

1% to 4%

Material only

Labour only

Expenses only

Material, Labour and expenses

Chart of Accounts

Journal

Ledger

Trial balance

An account

A journal

A ledger

A trial balance

Journalizing

Utilizing

Posting

Balancing

Plant assets

Frozen assets

Exponetial Assets

Pi

Insurance premium received in advance

Rent received in advance

Depreciation

Both A & B

Income Statement

Statement of Owner’s Equity

Balance Sheet

Statement of Cash Flows

In any two accounts.

On the debit side of an account related to that transaction.

On the credit side of an account related to that transaction.

On the proper side of two accounts related to that transaction.

cash transaction

credit transaction

barter system

internal event