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Review Account

In: Business and Management

Submitted By LucyHoo
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会计期中考试复习资料(自备)
Chapter1
What’s assets? 什么是资产 P2
Assets may be defined as items of value owned by the business or owed to the business.
Such as cash, buildings, motor cars, land, money
What’s liabilities? 什么是负债?P4
Liabilities are amounts of money owed by the business.
Such as creditors or accounts payable, a mortgage, a loan and a bank overdraft.
What’s accounting equation? 什么是会计等式? P5
The relationship between assets, liabilities and owner’s equity is highlighted by the accounting equation.
Assets=liabilities + owner’s equity
A=L+OE

Chapter2
What’s double entry bookkeeping? 什么是复式记账法? P18
Processing transactions in accounting is done by what is called double entry recording.
A+E=L+OE+R
Debits=credits
A=assets
E=expenses
L=liabilities
OE=owner’s equity
R=revenue
What’s debits and credits? 什么是存储卡和信用卡?
Debits (left-side entries) increase assets and decrease liabilities and equities.
Credits (right-side entries) increase liabilities and equities and decrease assets.

The debit(DR) and the credit (CR) rules are as follow:P19 Accounting element on which side is an increase recorded? On which side is a decrease recorded? | Assets Debit side Credit side Expense Debit side Credit side Liabilities Credit side Debit side Owner’s equity Credit side Debit side Revenue Credit side Debit side |

Chapter3
What’s financial performance? 什么是损益表?P36
The purpose of the Statement of financial performance is to measure and report how much profits (wealth) the business has generated over a period.
表格的基本格式 P36

What’s depreciation? 什么是折旧?
Depreciation is the annual allocation…...

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