PALAGING TATANDAAN NA

Monday, October 5, 2020 7:31 AM ANG GINAGAWAN NG

TRANSACTION AY UNG
COMPANY!
Debit Credit
Assets Liability
Drawings Equity
Expenses Revenue
Note:
Assets = Liabilities + Owner's Equity
Liabilities = Assets – Owner's Equity
Owner's Equity = Assets – Liabilities

Debit and Credit Note:

Debit = Credit
Note: Pagnadadagdagan ang utang ng
Pagnadadagdagan ang Assets, company (Liabilities),
Withdrawals, Expense, ilagay nadadagdagan ang puhunan ng
sa debit side. Assets Liabilities company (Equity/Capital), or lalo
Pagnababawasan naman, Withdrawals Equity/Capital pang kumikita ang company
ilagay sa credit side. Expenses Revenues (Revenues), ilalagay sa Credit
side.
Pagnababawasan naman ang
Liabilities, Equity/Capital,
Revenues, ilalagay sa Debit side.

AWE LER

Examples:
➢ Bought equipment for Cash.
*nagkaroon ang company ng equipment (assets)
Debit - Equipment
*anong pnangbayad sa equipment? Cash. Nabawasan ng cash ang company
Credit - Cash

➢ Purchase office supplies on credit.

*bumili ng office supplies and company pero inutang(credit)
*nagkaroon ng office supplies(assets) ung company
Debit - Office Supplies
*nagkaroon ng utang ang company (Liabilties)
Credit - Accounts Payable

➢ Received cash from clients for the service rendered.

*nadagdagan ang Cash (assets) ng company
Debit - Cash
*bakit nagkaroon ng pera? Kasi nagtrabaho (Service Rendered). Ang service rendered ay revenues. Nadagdagan
ang trabaho,
Credit - Service Revenue

➢ Paid salaries of employees.

*pagnagbabayad ang company ng salaries, tawag dun ay Salaries Expense (Expenses)
Debit - Salaries Expense
*cash ung pinangbayad ng company. Nabawasan ang cash(Assets)
Credit - Cash

➢ Paid cash to creditor on account

*nagbayad ng cash ang company sa mga utang sa creditors. This means, nabawasan ang liabilities ng company.
Debit - Accounts Payable
*anong pinangbayad? Cash(assets). Nabawasan ang cash
Credit - Cash

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Account Titles Used in Accounting

Types of Accounts

I. Balance Sheet
○ Assets
○ Liabilities
○ Owner's Equity

Assets
> any resources (ari-arian) owned by the business
2 types of assets:
Current Assets Non-Current Assets
> cash/convertible to cash for > convertible to cash or
within a year (12mnths) more than a year
Titles: Titles:
Cash – bills, coins, bank Property, Plant, and
balances, money orders and Equipment – a long-term
checks assets that are not easily
Cash Equivalent – investment converted in Cash
securities that are meant for Land
short-term investment (max 9 Equipment
mnths/90 days) Service Vehicle
Accounts Recievable – (bumili ng sasakyan
claims against costumers arising ung kumpanya)
from sale of service/ goods on Building
credit Furnitures and Fixtures
-inutang ng costumer ung Intangible Asset – not
goods/product physical in nature (hindi
Notes Recievable – written nahahawakan)
pledge that costumer will pay Brand Name (e.g.
-with promissory note from Jollibee)
costumers who get Patens
goods/product on credit Copyright
Inventories – raw Franchise
goods/materials, in progress Licenses
goods, finished goods Trademark (bee)
Supplies – cost of supplies on
hand at a point in time
-ginagamit ng company
to operate (short-terms)
Prepaid Expences – expenses
paid for by the business in
advance
-advance payment are
made

Liability
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 Liability
> the debt or obligation of the business
Current Liabilities Non-Current Liabilities
>debt of the company that has to be >long term debts or financial
paid in a short period of time (short- obligations of the company
term)
Titles: Titles:
Accounts Payable – is the money Mortgage Payable – long-term
owed by the business to its suppliers debt of a business for which the
*you're a retailer of shoes, then u have business has pledge certain assets
supplier. And the arrangement is, u as security to the creditor
can get shoes to her and then pay *I'm the company, mangungutang
later on. ako sa bangko, para pa-utangin
Notes Payable – liability in writing ako ng bagko, kailangan may
-proof na promissory note ibigay akong collateral ( land and
Unearned Revenue – when a building of company). One na
company receives payment from the naibigay ko na ung collateral,
costumer before providing the goods papa-utangin na nila ako(business).
or services Bonds Payable – is a liability
-nakatanggap na ng cash ung account contains the amount
company pero hindi niya pa owed to bond holders by the issuer
naibibigay ung product/goods -different types of loading:
Accrued Liabilities – are the amount nangungutang sa maraming
owed to others for unpaid expenses tao in terms of bond
-opposite of Prepaid Expenses
(ginamit mo muna ung expense
bago mo binayaran)
Salaries Payable
Utilities Payable
Interest Payable
Taxes Payable
Owner's Equity
>the residual in the asset after deducting the liabilities

Assets – Liabilities = Owner's Equity

Capital – used to record the original ad additional investments of the owner

of the business entity
- puhunan
Withdrawal or Drawing – is when the owner of the business removes cash or
other assets from the business for personal use

II. Income Statement

○ Revenue
○ Expense

Revenue / Income
>cash or other assets earned by the company's operations and
business activities
>kinikita ng company because of their operations and business
activities

Service Revenue - is earned by performing services for a costumer.

Sales - is earned as a result of sale and merchandise
-earned from selling goods/product

Expenses
>are the cost of an asset used by the company in its operations to produce
revenues

Cost of Sales - the cost incurred to purchase or to produce the products

sold costumers during the period

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sold costumers during the period
*yung company nagbenta ng t-shirt for 1,000 pesos. pero ang binili nila
ung t-shirt is just 600. so, ung 600, tawag dun is Cost of Sales.
Salaries Expense - the cost incurred to pay the employees
Utilities Expense - the cost incurred by using utilities such as electricity,
water, water disposal, heating
Rent Expense - the expense for the space, equipment or other asset rentals
Supplies Expense - the expense of using supplies
Insurance Expense - portion of premium paid on insurance coverage which
has expired
*nagbayad ang company ng insurance from january to december.
Tapos ngayon, end of april na. so, ang tawag dun sa january to april na
insurance (since nagamit na siya) that is insurance expense
Interest Expense - the expense related to the use of borrowed funds
- mga binayarang interest trait dun sa mga nahiram ng
kompanya (kunware sa banko or other lendors)

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