Welcome to our Topic
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Welcome to our Topic
M. M. Mostafa Jamal ChowdhuryAssistant Professor, AccountingGovt. Titumir College, Dhaka
Presenting you
Class: XISubject: Accounting
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cultivation
Storing
Harvesting
Ready for sale
Preserve for next seeding
Working Cycle Toward the completion & Start based on previous
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Analyze
Business
Transaction.
Journalize
transactions
ACCO
UN
TIN
G CY
CLE
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After completion of the Topic the participants able to
Identify Business Transaction.Define Debit Credit Determination rule
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Not a tra
nsaction
Not a tra
nsaction
Transac
tion
Transac
tion
Measurable in monitory term
Cash12,000
Owners’ equity15,000
Equipment8000
Loan5000
Repayment of loan Tk 3,000
Cash9,000
Owners’ equity12,000
Equipment8000
Loan5000
Dual aspect
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Owner Lender
Owner’s claim
from company
These are the
assets for you
who claim
TK
Lender’s claim
from com
pany
Balance is imbalanced
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Owner’s claim from company
Lender’s claim from company
After exercised the claim What is the result
Imbalance scale is balanced
Accounting Equation
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Retained EarningsCapital
Owners’ EquityA Closer Look
IncomeWith
drawal
TK
REVENUES
Debit for
Decrease
Credit for
Increase
EXPENSES
Debit for
Increase
Credit for
Decrease
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Group WorkFrom the following events and happening identify the business transaction
A sale of merchandise or services. Ordered for purchase of supplies or raw material. A purchase of supplies or raw material. Receipt of a payment for an Accounts Receivable. Get an information about to be collect a payment from an
Accounts Receivable on next month. Payment to Accounts Payable. Signing an agreement with a bank to Receipt of loan. Receipt of loan proceeds.
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Evaluation
i. Describe at least 5 features of Business Transaction
ii. Explain the debit-credit determination rule
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Home work
Explain Debit Credit Determination Rule According to “Accounting Equation” & “Classification of Account”
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Thanks