ABM 112- FUNDAMENTALS OF ACCOUNTANCY, BUSINESS AND If i-journalize mo siya, ang gwa niya is

MANAGEMENT 1
05/02/15 Equipment P900, 000.00
ACCOUNTANCY/ACCOUNTING- is an art of recording, classifying
and summarizing in a significant manner and in terms of money, Cash P900, 000.00
transactions and events which are of a financial character and NOTE: tanan nga ara sa babaw is DEBIT and tanan nga ara sa
interpreting the result thereof. dalom is CREDIT
ACCOUNTING EQUATION Equipment ang idebit kay nadagdagan ang imo nga equipment
A= L+E Cash ang idebit kay nabawasab imo nga cash
Where: t- accounts – amo ni siya ang graphical presentation sang gin
A is asset- amo ni siya ang gina own mo or sang company. For journalize mo
example CASH, EQUIPMENTS, SUPPLIES, BUILDINGS and many cash equipment
more.
P900k P900k
L is liability- amo ni siya ang UTANG MO or UTANG SANG
COMPANY

E is equity- EXPENSES, WITHDRAWALS, CAPITAL, and REVENUES

SI MAAM NA BAHALA SA IBAN HAHAHAHAHAHA Indi pag sunda ang 900kl ha? Hahaha dapat sakto gid

BASIC ACCOUNT TITLES NGA PWEDE MAKITA SA CHART OF NOTE: tanang nga debit is ara sa LEFT side and tanan nga credit
ACCOUNTS ara sa RIGHT side

Accounts Receivable(A/R)- utang sang company sa imo

Accounts Payable(A/P)- utang nimo sa company account Normal If nabawasan

balance
Cash- basically cash HAHAHAHAAH cash asset debit credit
a/r asset debit credit
Supplies- pens, papers, scissors etc. (pero indi siya limited sa a/p liability credit debit
school supplies) revenues equity credit debit
expenses equity debit
Equipement- computers, printers withdrawals equity debit
capital Equity credit
Sales Revenues- sales nga nahimo sang imo nga company
equipment asset debit
JOURNAL ENTRY- amo ni siya ang journal kung diin Makita ang supplies asset debit
summarizations sang debits kag credits sang transactions.
NOTE: expenses, equipments kag supplies cannot be deducted
IMPORTANT siya kay it will allow you to sort the transactions
unless if may adjusting entries
neatly or in other words, into manageable data. Gets?

For example

ON MAY 2, 2015 THE RAMOS COMPANY BOUGHT P900, 000.00

WORTH OF EQUIPMENT.