Deneme Sınavı Soruları

Accrued revenue

Deferred revenue

Deferred expense

Accrued expense

Time-period concept

income statement

owner’s equity statement

statement of cash flows

balance sheet

financial transactions

Deferred revenue

Accrued revenue

Deferred expense

Accrued expense

Time period concept

interim period

monthly period

calender year

quarter period

semiannual period

I, IV, II, III

I, II, III, IV

IV, I, II, III

II, IV, I, III

IV, III, II, I

Posting opening entries to ledger accounts

Analyzing and journalizing daily transactions

Posting daily transactions to accounts

Preparing monthly trial balances

Preparing unadjusted trial balance at the end of the period

Investments

Owner,Capital

Owner's withdrawals

Revenues

Expenses

Cash / Owner’s Drawings

Equipment / Cash

Salaries and Wages Expense / Cash

Cash / Service Revenue

Advertisement Expense / Accounts Payable

The journal is the main book which includes the original entries of company’s transactions.

Journal is referred to as a book of original entry.

In a journal entry, credits are intended and listed second. 

In a journal entry, credits are always entered first. 

Entering transaction data in the journal is known as journalizing.

Current assets

Non-current assets

Current liabilities

Non-current liabilities

Owner's equity

Salary payable

Accounts receivable

Supplies

Capital

Equipment

credit supplies 2.000

credit supplies 500

debit supplies 2.000

debit supplies expense 2.000

credit supplies expense 2.000

It provides financial information to meet the information needs of internal information users.

It provides financial information to meet the information needs of external information users.

It orovides financial information to meet the information needs of government.

It provides financial information to meet the information needs of taxing authorities.

It rovides financial information to meet theinformation needs of  customers.

Assets = Owner’s Equity

Assets = Liabilities

Assets + Buildings = Liabilities

Assets = Liabilities + Owner’s Equity 

Assets = Liabilities + Owner’s Equity + Profit

Classified balance sheet

Income statement

The statement of owner's equity

Adjusted trial balance

Closing entries

equal debits and credits are made in the accounts for each transaction.

asset, liabilities and owners’ equity accounts all have normal debit balances.

a debit entry is recorded on the righ side of a T-account.

a credit entry is recorded on the left side of a T-account.

half of all the accounts have a normal credit balance.

Companies record revenues when they receive the cash and they record expenses when the cash is paid

Companies record revenues when they perform services (rather than when they receive cash) and record expenses when they are incurred (rather than when paid).

Revenue is recorded when earned and expenses are recorded when consumed.

A company should record an expense for estimated bad debts that have not yet been incurred.

The account basis of accounting is the concept of recording revenues when earned and expenses as incurred.

Net income on the income statement

Net loss on the income statement

Assets on the balance sheet

Credits on the balance sheet

Liabilities on the balance sheet

Only III

I & II

I & III

II & III

I, II & III

Trial Balance

Supplies balance

Debiting balance 

Double-entry system

Credit balance