KTM-9 kế toán mỹ đề 9 trường đh PDF

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BẢNG PHÂN CÔNG NHIỆM VỤ VÀ MỨC ĐỘ ĐÓNG GÓP CỦA NHÓM 9

Câu 2 a) - What is a journal? A journal is a detailed account that records all the financial transactions of a business, to be used for the future reconciling of accounts and the transfer of information to other official accounting records, such as the general ledger. A journal states the date of a transaction, which accounts were affected, and the amounts, usually in a double-entry bookkeeping method. A journal provides a chronological record of all transactions affecting a firm. - What is a journal entry? The format for recording a transaction. A journal entry is an accounting term that records a transaction in the ledger. An entry can include multiple items, each of which can be a debit or credit. The total amount of the credit must equal the total amount of the credit, otherwise the entry will be considered unbalanced. The entries can record unique items or repetitive items such as depreciation of fixed assets or capital depreciation. b) - What is a trial balance? A trial balance is a bookkeeping worksheet in which the balance of all ledgers are compiled into debit and credit account column totals that are equal. A list of all accounts and their balances at a particular date, showing that total debits equal total credits. A trial balance is a worksheet with two columns, one for debits and one for credits, that ensures a company’s bookkeeping is mathematically correct. The debits and credits include all business transactions for a company over a certain period, including the sum of such accounts as assets, expenses, liabilities, and revenues. - To what does the term “balance” refer? The term “balance” refer to total debits equal total credits. c)

If total debits equal total credits in the trial balance, does this indicate that all transactions have been properly accounted for? Explain. Just because the debits and credits are equal in a trial balance does not necessarily mean that all balances are correct. A trial balance could contain offsetting errors. For example, if we overstate cash and revenue each by $2.000, both accounts will be in error, but the trial balance would still balance. Câu 3 a. What does it mean to say that the income statement, statement of owner’s equity, and statement of cash flows measure activity over an interval of time, but the balance sheet measures activity at a point in time? The study of accounting requires an understanding of precise and sometimes complicated terminology, purposes, principles, concepts, and organizational and legal structures. Typically, your introductory accounting courses will familiarize you with the overall accounting environment, and for those of you who want greater detail, there is an assortment of more advanced accounting courses available An income statement is a financial statement that shows you the company’s income and expenditures. It also shows whether a company is making profit or loss for a given period. The income statement, along with balance sheet and cash flow statement, helps you understand the financial health of your business. A Statement of Owner's Equity (SOE) shows the owner's capital at the start of the period, the changes that affect capital, and the resulting capital at the end of the period. It is also known as "Statement of Changes in Owner's Equity". The statement of cash flows, or the cash flow statement (CFS), is a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company. Like the income statement, it also measures the performance of a company over a period of time. A balance sheet is also called a 'statement of financial position' because it provides a snapshot of your assets and liabilities — and therefore net worth — at a single point in time (unlike other financial statements, such as profit and loss reports… b. “The owner’s capital account is a link between the income statement and the balance sheet.” Explain what this means.

An owners capital account is the equity account listed in the balance sheet of a business. It represents the net ownership interests of investors in a business. This account contains the investment of the owners in the business and the net income earned by it, which is reduced by any draws paid out to the owners. The Balance Sheet shows the company's Assets - its resources such as Cash, Inventory and PP&E, as well as its Liabilities - such as Debt and Accounts Payable - and Shareholders' Equity. c. Which body is primarily responsible for the establishment of GAAP in the United States? What body serves this function on an international basis? - Which body is primarily responsible for the establishment of GAAP in the United States? The Financial Accounting Standards Board (FASB) is the body primarily responsible for developing rules governing US generally accepted accounting principles and practices. - What body serves this function on an international basis? U.S. Securities and Exchange Commission....