FABM 2

The book of original entry.

• Journal

• Accounting equation

• Financial Statement

• Assets

• Liabilities

Assets are equal to liabilities and owner's equity.

• Journal

• Accounting equation

• Financial Statement

• Assets

• Liabilities

Users of accounting information is mostly communicated.

• Journal

• Accounting equation

• Financial Statement

• Assets

• Liabilities

Are what the company owns.

• Journal

• Accounting equation

• Financial Statement

• Assets

• Liabilities

Are what the company owned.

• Journal

• Accounting equation

• Financial Statement

• Assets

• Liabilities

Inflows of cash because of services rendered.

• Income

• Expenses

• Journalizing

• Ledger

• Posting to the ledger

Assets from cash spent because of sales of goods.

• Income

• Expenses

• Journalizing

• Ledger

• Posting to the ledger

The second accounting cycle.

• Income

• Expenses

• Journalizing

• Ledger

• Posting to the ledger

Is called the book of the final entry.

• Income

• Expenses

• Journalizing

• Ledger

• Posting to the ledger

Is the next cycle after journalizing.

• Income

• Expenses

• Journalizing

• Ledger

• Posting to the ledger