CHAPTER 3

RECORDING TRANSACTIONS
TRANSACTIONS

There are two types of transactions

- External transactions
- Internal transactions
Thi: cho 1 câu hỏi bất kỳ
Giá cổ phiếu, trước 15k, giờ 20k —> non transaction event —> vì chưa ảnh hưởng gì đến cash flow của cty
TRANSACTIONS

External transactions: an entity may engage in transactions

with outside parties that affect its financial statements.
For examples: những gì có outside parties

- the purchase of office suppliers

- borrowing money from a bank
- the purchase of equipment
TRANSACTIONS

Internal transactions: other economic events that do not

involve external transactions are recorded because they affect
the internal relationships between the entity’s assets,
liabilities and equity. những gì diễn ra trong công ty
không có sự can thiệp bơi bên thứ 3

For examples:
- the deduction of an office building by fire
NON - TRANSACTION EVENTS

Some events of importance to the entity are not usually recorded

because there has not been an exchange of goods or services.
Examples include:
- receiving an order from a customer
- signing a contract to purchase an asset in the future
- changing the interest rate
Thuê người nhân viên —> chưa có ảnh hưởng gì về tiền ra tiền vào
Double-entry Accounting
bút toán kép

• To record transactions, accounting system uses double-entry accounting.

• Double-entry implies that transactions are always recorded using two

sides, debit and credit.
trong kế toán, credit và debit không hoàn toàn là cộng hay trừ

• Debit refers to the left-hand side and credit refers to the right-hand side
of the journal entry or account.

• The sum of debit side amounts should equal to the sum of credit side
amounts. A journal entry is called "balanced" when the sum of debit side
amounts equals to the sum of credit side amounts.
 Cái nào mang dấu + bên trái —> debit

DEBIT AND CREDIT RULES Cái nào mang dấu + bên phải —> credit
=> Từ đó tự suy ra bên còn lại (ngược vs bên theo
quy luật)

ASSETS = LIABILITIES + EQUITY

Debit to Credit to Debit to Credit to Debit to Credit to
increase decrease decrease increase decrease increase
Trong asset: Cứ khi nào asset tăng
thì gọi là debit giảm thì gọi là credit
=> Nâng cấp cách nói từ increase/
decrease lên debit/credit

Mua equipment, buy on credit

Asset: equipment increase = Debit equipment
Liabilities: A/Payable increase = Credit A/P

Normal Increase cash at bank

Normal Normal
balance —> debit the cash at bank
balance balance
Sách này chỉ yêu cầu Equity liên quan 3 yếu tố:
capital, expense, revenue
(Thêm vốn —> equity tăng +; Thêm income —> +; chi
1 khoản —> equity giảm - ) Expense (ở cùng phía asset)
=> Asset = Liabilities + Capital + Revenue - Expense —> debit to increase
=> Asset + Expense = Liabilities + Capital + Revenue Income (ở cùng phía equity)
(chính là revenue)
—> credit to increase
DEBITS AND CREDITS, REVENUES AND EXPENSES

REVENUE EXPENSES
Debit to Credit to Debit to Credit to
decrease increase increase decrease

Normal Normal
balance balance
DEBIT AND CREDIT RULES

Debit Credit
Assets + -
Liabilities - +
Equity/ Capital - +
Expense + -
Income/ Revenue - +
ACCOUNTING
CYCLE

02/24
 Steps in the cycle Accounting records

Recognize and record transactions Source documents

Journalize transactions General journal

Chap 3: học tập
trung 2 bảng này Sổ cái /Sổ cái kế toán

Post the ledger accounts. General ledger

Bảng cân bằng thử —> đơn giản
Prepare trail balance of general Trial balance
ledger
4 loại bảng đã học

Prepare financial transactions Financial statements

General journal

In a typical manual accounting system and in some computerized general

ledger accounting systems, a transaction is analyzed and recorded first in
a book called a journal before the effects of the transaction are entered in
the individual accounts in the ledger.

The journal provides in one place a complete record of all transactions as

they occur in chronological order.
1. Ngày
2. Thực hiện 1 service —> Cash tăng 6. Vấn đề gì đã xảy ra
3. Cash tăng —> credit 8. Không cần quan tâm
4. Revenue —> quan tâm
GST Payable —> tax —> trong môn này mình lược bỏ, không học vì phức tạp
Purchasing an inventory at the cost of $452 on credit
Những gì về Dr —> lùi bên trái
Những gì về Cr —> dịch về bên phải
Borrowing $1000 from the bank on a long-term loan
Buying $450 more inventory, paying $100 cash and
owning the rest
Own the rest —> pay on credit —> Account payable
Revenue for 2016 was $89 740. The coffee bar does mostly
cash business, so of this, $85 250 was in cash and the rest
was on credit.
General expenses for 2016 totaled $ 67 230. Most of the
expenses were on credit, only $2120 was in cash
Unearned revenue
Unearned revenue (liability account): Cash received from customers
for goods yet to be delivered or services yet to be performed
Unearned revenue —> ghi vào liabilities (Chứ không tính vào revenue thuộc equity)
—> Vì mình nhận trước mà chưa làm việc —> nợ

Nếu cuối bài đã thực hiện rồi —> trừ unearned revenue đi và cộng vào revenue
Nếu chưa thực hiện —> ignore nó đi, chỉ ghi cái bảng trên thôi (Ảnh)
Prepaid expenses
Prepaid expenses (asset account): are goods and services that
have been paid for in advance but not yet received or used.
Example: Insurance
—> Đây không phải expense mà thuộc ASSET
—> VÌ MÌNH CHƯA SỬ DỤNG ĐẾN NÓ; TÀI SẢN ĐÃ MUA VỀ RỒI

Đến cuối tháng, mình dùng nó rồi

—> lúc đó cái khoản expense này mới thực sự xảy ra
—> Gọi là insurance expense
LEDGER ACCOUNTS
Each transaction recorded results in an increase or decrease
in one or more of the assets, liabilities, equity, income or expenses.
A part of the accounting function is to classify the effects of
transactions into these categories and to summarize the results in
the financial statements. To help in the collection of financial
statement data, transactions are recorded in ledger account.
The collection of all ledger accounts is referred to as a general
ledger.
LEDGER ACCOUNTS
Each account has three basic parts:
(1) a title, which should be descriptive of the nature of the items being
recorded in the account
(2) a place for recording increases
(3) a place for recording decreases
Accounts, typically provide space for recording an account number, the date
of the transaction and an explanation of the transaction.
One format, called a T Account; one is Running balance account
 LEDGER ACCOUNTS – T Account
ACCOUNT TITLE
Date Explanation Amount Date Explanation Amount

Debit side Credit side

 Xem là trong suốt 1 kỳ cụ thể thì tk tăng lên bn

Lý do CAB tăng lên Lý do CAB giảm đi

Những gì tăng lên

Tổng debit - tổng credit
Nếu số này âm
—> để ở credit
trong bảng trial balance
LEDGER ACCOUNTS – Running balance account
Trial balance: nhặt kết quả
cuối cùng của ledger account