Job Sheet #3 Scaffold Recording Transactions of Merchandising

ANALYZE.COMPUTE.WRITE

09.28.16

According to WIN Ballada, CPA, MBA,

Recording Business Transactions

Transaction Analysis (Step 1)

1. Identify the transaction from source documents.

2. Indicate the accounts - either assets, liabilities, equity, income or expenses - affected by the transaction.

3. Ascertain whether each account is increased or decreased by the transaction.

4. Using the rules of debit and credit, determine whether to debit or credit the account to record its increase or decrease.

Transactions are journalized (Step 2)

After the transaction or event has been identified and measured, it is recorded in the journal. The process a transaction is called journalizing.

26/26 Hooray!!! I got a perfect score. Hoping for a perfect score in our performance task as well!

CONGRATULATIONS!

26/26 VERY GOOD! KEEP IT UP!