1. Project 1

1.4. Training Room 2

Training Room 2: Analyzing Transactions

Training Room 2: Analyzing Transactions

 

Training Room 2 Introduction

 

Suggested Time: 160 minutes

 

 

Check your answer to see if you are right.

 

Check your answer.

 

The beginning balance sheet.

 

 

The accounts on the left of a beginning balance sheet are recorded in the journal as debits, or DR, and the accounts on the right are recorded as credits, or CR. Debit totals must always equal credit totals. View the multimedia piece “Left = Right” to see an example of this.

 

 

An arrow pointing left and right.

 

 

 

 

This training room will show you how to decide when daily transactions are a debit or a credit, in order to enter them in the journal correctly.