BOOKKEEPING 4 BN

presented by: Victor Fabian Lozano, Jefferson Sanchez y Yenny  Daza 

REPLY BOOKKEEPING

4.1 match the words in the box with the definitions below. look or a and b opposite to you

1)   an amount entered on the left hand side of an account, recording money paid out

Reply: credit

2)   a book of account

Reply: ledger

3)   customers who owe money for goods or services not yet paid for

Reply: Debtors

4)   an amount entered on the right hand side of an account, recording a payment received

Reply: debit

5)   goods stored ready for sale

Reply: Stock

6)   suppliers who are owed money for purchases not yet paid for

Reply: creditors

"interesting data:

credit: appropriation of nature is used immediately to make purchases of goods and other merchandise is sold or when, or made payments   

Creditors: corresponds to sales or services to third parties becoming creditors, with customer

Ledger: The ledger is where it organizes and classifies the different movements in their accounts must be authorized

Stock: title is a property value that represents ownership of a person in a society, which provide economic.

debits: nature is revenue debit cash, wallet, and other expenses

debtors: debts up to the third toward the company or called accounts receivable, which corresponds to the sale of goods"

4.2. Complete the sentences. I.ook at A, B and C opposite to help you.

·         Double-entry bookkeeping shows where money comes from and where it goes. It is always transferred from one account to another one. Every event is entered twice – once as a credit and once as a debit

·        Most businesses record very  frequent or numerous transactions in purchases or  sales

·        The main account books are called the day books or journal.

in Britain, they call the main books of nominal ledgers. creditors, suppliers to the company owes money on credit purchases are recorded in a book bought

·        In order to prepare financial statements, companies do a trial balance .which copies all the debit and credit balances of different accounts onto a single page

4.3 Complete the sentences using “debit” or “credit”,  look at A opposite to help you .

1.    If  you buy new assets, you DEBIT the  cash or capital account

2.    If you pay some bills, you CREDIT the liabilities  account

3.    If you buy materials from a supplier on 60 days credit, you DEBIT the purchases account and CREDIT  the supplier´s  account

If you sell something to a customer who will pay 30 days later, you CREDIT the sales account and DEBIT the customer´s account