The Accounting Equation and Double-Entry System
Principles of Accounting · JC 1 · The Roles of Accounting and the Accounting Information System · 1.º Período

The Accounting Equation and Double-Entry System

Examines the dual effect of business transactions on the accounting equation. Students will record transactions using the double-entry bookkeeping system and extract a trial balance.

MOE Syllabus OutcomesSEAB 9755 Section 2.1: Accounting Information SystemSEAB 9755 Section 2.2: Double-Entry Recording

About This Topic

Examines the dual effect of business transactions on the accounting equation. Students will record transactions using the double-entry bookkeeping system and extract a trial balance.

Key Questions

  1. How do business transactions affect the accounting equation?
  2. What are the fundamental rules of debit and credit?
  3. How is a trial balance prepared to check arithmetical accuracy?

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