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Welcome to our Topic
M. M. Mostafa Jamal ChowdhuryAssistant Professor, AccountingGovt. Titumir College, Dhaka
Presenting you
Class: XISubject: Accounting
cultivation
Storing
Harvesting
Ready for sale
Preserve for next seeding
Working Cycle Toward the completion & Start based on previous
After completion of the Topic the participants able to
Identify Business Transaction.Define Debit Credit Determination rule
Not a tr
ansa
ction
Not a tr
ansa
ction
Transa
ction
Transa
ction
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
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
Owner’s claim from company
Lender’s claim from company
After exercised the claim What is the result
Imbalance scale is balanced
Accounting Equation
Retained EarningsCapital
Owners’ EquityA Closer Look
Income
Withdrawal
TK
REVENUES
Debit for
Decrease
Credit for
Increase
EXPENSES
Debit for
Increase
Credit for
Decrease
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.
Evaluation
i. Describe at least 5 features of Business Transaction
ii. Explain the debit-credit determination rule
Home work
Explain Debit Credit Determination Rule According to “Accounting Equation” & “Classification of Account”