Accounting Transactions and Records Guide
Translated by
ScribdTranslationsAccounting Transactions and Records Guide
Translated by
ScribdTranslationsAuxiliary Accounting Services
Module III: Transactions and Accounting Records
Actividades de la Unidad II: Procedimiento de un Sistema Contable
Exercises I: Using your reading material, answer the following questions.
Classify Accounts
What are nominal accounts?
They include income, costs, and expenses. They are temporary accounts, that is, they are
open as long as the company's accounting period lasts. When it ends, they are
closed and the result is transferred to the capital account.
2. What are real accounts?
These are accounting accounts where the actual financial situation of the
company. It is composed of the following items: Asset: the asset of any
The entity is composed of the assets and rights held by the company.
3. What is the source of the assets?
They are intended to generate economic returns from some event.
from the past, such as an investment, the acquisition of machinery or
work tools, or the purchase of a premises to carry out the activity
business.
4. What group of accounts does it belong to?
To the goods and rights that are the property of an economic entity, such as cash,
accounts receivable from customers, inventories, movable properties and equipment that
they have a monetary value
5. What is the T-account used for in accounting and what does it represent?
The T-account allows us to perfectly visualize that each account has a side.
debt on one side and credit on the other, or a debit and a credit, inasmuch as each account has the
capacity to give and receive, thus fulfilling the principle of double entry, according to
in which, in every accounting, in every accounting record, there is always as
at least one account that gives and one account that receives and that each account is in
conditions for both receiving and giving.
Exercise II: From the following accounts, place the name of the one that is affected, according to
sea: activo, pasivo, capital, ingreso, costo o gasto. Al lado de la cuenta coloque el origen
from the account in a T account.
items Transaction account origin
1 Cash Active Debtor
x
2 Accounts Payable Passive Credit
3 Personnel contract Active Debit
4 Office furniture Fixed assets
Debit
5 Land Fixed assets Debit
6 José Pérez, Capital Capital Credit
7 Sales Income
Credit
8 Payroll Payment Expenses
Debit
9 Phone Contract Expenses
Debit
10 Computers Active
Debit
11 Documents payable Passive Credit
12 Salaries payable Expenses
Debit
13 Disposable material Expenses
Debit
14 Accounts Receivable Current assets Debit
15 Service sales Income Debit
Exercise III
Defina que es un Diario General y enumere sus características.
The General Ledger is an accounting book used to record all transactions
financial statements of a company chronologically. The following are
some important features of the General Diary:
1-Chronological record: The General Diary records transactions in the order in
that occur, allowing for precise tracking of financial activities of the
company.
2-Detailed record: Each transaction is recorded in detail, including the
fecha, descripción, cuentas afectadas y montos involucrados. Esto proporciona
complete and accurate information about transactions.
3-Full record: The General Ledger records all financial transactions of
the company, including purchases, sales, payments, collections, expenses, income, among others.
This ensures that no important transaction is overlooked.
4-Base for other accounting records: The General Journal serves as a basis for others
accounting records, such as the General Ledger and the Financial Statements. The data
Registered in the General Ledger are used to generate financial reports and perform
accounting analysis.
5-Cross-reference: Each transaction recorded in the General Journal is identified
with a unique reference number. This number is used to link the transaction
with other accounting records and facilitate the search and retrieval of information.
6-Audit and control: The General Journal provides a complete history of the
financial transactions of the company, which facilitates internal and external auditing.
It also helps to maintain proper control over financial activities and
detect possible errors or fraud.
7-Compliance: The General Ledger is a fundamental tool for
comply with legal and tax requirements. Provide appropriate documentation
of the transactions, which facilitates reporting and compliance
the legal obligations.
In summary, the General Ledger is a chronological and detailed accounting record that
records all the financial transactions of a company. Provides information
complete, accurate, and auditable, and serves as a basis for other accounting records and
regulatory compliance.
Defina Mayor General y Mayores Auxiliares.
General Mayor: It is a book that summarizes the values of the auxiliary accounts of a
same nature, that is, those that have the same affinity. These accounts are
they are used to prepare the Financial Statements.
Assistant Mayor: It consists of enabling an individual, separate account for each client.
with credit, for each supplier that offers us credit, for each expense concept or
other data that may be of interest to the company. The auxiliary accounts detail the
values contained in your major general.
Esquematice la ecuación básica de la Contabilidad en sus tres formas.
Assets = Liabilities + Equity (A=L+E)
Enumere los tres objetivos básicos de los documentos comerciales
Establish responsibility and identity with the person or company that was carried out the
transaction.
Keep a record of all transactions made for control purposes.
Provide the data source for the accounting records.
Exercise IV:
After studying the supporting material on the Accounting Equation, develop the
next activity:
On June 1st, the partners contributed cash 5,000,000.00, an account was opened.
business checks at Banco BHDLeon in the name of the company.
Asset increases: Bank (+) 5,000,00.00
Capital increases: Share capital (+) _____________________
5,000,000.00
On June 2, a building was purchased for 2,000,000.00 This payment was made with the
check number 0001 from the company's account.
Asset increases: Building (+) 2,000,000.00
Asset decreases: Bank (-) _______________________
2,000,000.00
On June 2, office furniture and equipment were purchased from Omar Muebles S.A.
The total purchase was $110,000. Half of the bill was paid with the check.
number 0002 and the rest must be paid in 15 days.
Asset increases: Office furniture (+) 110,000.00
Asset decreases: Bank (-) 55,000.00
Liabilities increase accounts payable (+): 55,000.00
110,000.00 110,000.00
On June 3, $10,000 was paid for advertising; for this, a
check number 0003.
Expenses increase: Advertising expenses (+) 10,000.00
Asset decreases: Bank (-) 10,000.00
10,000.00 10,000.00
On June 6, a truck was purchased for the operation of the business for $370,000.
the purchase conditions were as follows: 60% initial payment, for which a document was issued
The check number 0004, and the remainder must be paid in monthly installments over a period
of 18 months.
Asset increases: Transport Equipment (+) 370,000.00
Asset decreases: Bank (-) 222,000.00
Liabilities increase: Loan payable (+) 148,000.00
370,000.00 370,000.00
On June 11, office materials were purchased from the same supplier for $7,000.
The payment will be made later.
Asset increase: Office supplies (+) 7,000.00
Liabilities increase: Accounts payable (+) 7,000.00
7,000.00 7,000.00
On June 15, a loan of $300,000 was requested from Banco BHDLeon, for which
signed a document for a term of 24 months with an interest rate of 14% per year
payable monthly. The loan was granted and received in the form
immediate.
Asset increases: Bank (+) 300,000.00
Liabilities increase: Loan payable (+) 300, 000.00
300,000.00 300, 000.00
On June 15, salaries were paid for an amount of 25,000 with check number
0005.
Expenses increase: Salary costs (+) 25,000.00
Asset decreases: Bank (-) 25,000.00
On June 20, a sale of $265,000 took place, of which $200,000 was collected;
the remaining $65,000 will be collected by next month. The total amount of money
received was deposited in the company's checking account.
Asset increases: Bank (+) 200,000.00
Asset increases: accounts receivable (+) 65,000.00
Income increases: sales (+) 265,000.00
265,000.00 265,000.00
On June 25, the following utilities were paid with a check: $3,000
for phone service and $1,000 for electricity.
It is requested:
Expenses increase: Service expenses (+) 4,000.00
Asset decreases: Bank (-) 4,000.00
4,000.00 4,000.00
Analyze the effect of the previous operations on the basic accounting equation.
using the following format.
Example: (line 0 of the format)
The company acquired a CRV SUV for an executive. The total amount is $950,000.
A deposit of $400,000 was made with a check and the remaining $550,000.00 was signed with a ...
bank loan.
Asset increases: Transport Team (+) 950,000.00
Asset decreases: Bank (-) 400,000.00
Liabilities increase: Loan payable (+) 550,000.00
950,000.00 950,000.00
Note: Only record the values in the format indicating if it increased (+) or decreased (-).