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General journal entry format - PowerPoint PPT Presentation

The Mechanics of Accounting

C H A P T E R . 3. The Mechanics of Accounting. Learning Objective 1. Understand the process of transforming transaction data into useful accounting information. Exchange Transactions. What Are the Different Exchange Transactions?. Borrow and invest money.

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The Mechanics of Accounting

The Mechanics of Accounting. Exchange Transactions. What Are the Different Exchange Transactions?. Borrow and invest money. Purchase land, buildings, and equipment. Buy and sell goods or services. Pay wages to employees. Pay taxes to the government. Distribute earnings to owners.

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340 views • 27 slides

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General journal entry format - PowerPoint PPT Presentation

The Mechanics of Accounting

The Mechanics of Accounting