View
225
Download
0
Category
Preview:
Citation preview
8/12/2019 La Partida Doble 1.Es.en
1/11
Principle or universal law
8/12/2019 La Partida Doble 1.Es.en
2/11
Financial accounting is based on theassumption that economic duality requiresthat the asset is equal to liabilities plus
equity, A = P + C, ie the resources availableto the entity to accomplish its purposes fromsources external and internal, and thattransactions are recorded accounting
quantified by means of the theory of doubleentry, by charges or credits that representincreases and decreases of assets, liabilitiesand stockholders' equity.
8/12/2019 La Partida Doble 1.Es.en
3/11
The mathematical equation A = P + C isalways true, no matter what kind ofoperation is recorded, so it is a Universal
Law.
8/12/2019 La Partida Doble 1.Es.en
4/11
It should be remembered that:
Increases in assets and decreases load of this is
paid;
Increases in liabilities and stockholders are paidand that the load decreases
8/12/2019 La Partida Doble 1.Es.en
5/11
According to the theory of double entry:Increases the asset on the cash account by $ 1.150Increases in capital income sales account for $ 1.000Increases the liability on account of IVA transferredfor $ 150
Applying the rules of debit and credit:By increasing the asset in the cash account ischargedIncreasing the capital income in the sales account iscreditedBy increasing the liability on account of IVAtransferred, is payable
8/12/2019 La Partida Doble 1.Es.en
6/11
According to the theory of double entry:Increases the asset account of goods by $ 2.000Increases the asset on the creditable IVA account for $300
Increases in liability accounts payable by $ 2.300
Applying the rules of debit and credit:By increasing the active freight account is chargedBy increasing the asset account creditable IVA is chargedBy increasing the liability in accounts payable, is payable
8/12/2019 La Partida Doble 1.Es.en
7/11
According to the theory of double entry:Decreases active bank account for $ 3.300Reduces the liability on account ISR payable for $ 2.500Reduces the liability on account PTU payable for $ 800
Applying the rules of debit and credit:By reducing the active bank account is creditedBy reducing the liability on account of ISR payable,chargesBy reducing the liability on account of PTU payable ,charges
8/12/2019 La Partida Doble 1.Es.en
8/11
Box $1.100Sales $1.000IVA $100Sale of merchandise for cash
Goods $2.000Creditable IVA $300Suppliers $ 2.300Buying goods on credit
ISR payable $2.500
PTU payable $ 800Banks $ 3.300Payment ISR and PTU the previous year
1
2
3
8/12/2019 La Partida Doble 1.Es.en
9/11
The three examples generated always a cause andeffect, a resource, a source of resource, ie a sourceand application of resources.
It also shows that the transactions are entered twiceover by charges or credits, and the sum of thecharges is equal to the sum of the credits.
Thus we can safely say that every charge carries asubscription.
8/12/2019 La Partida Doble 1.Es.en
10/11
Any transaction made by the entity generates always a cause and effect, whichmodify the structure of their resources and
their sources, recorded by debits andcredits, without altering the numericalequality of its balance sheet.
8/12/2019 La Partida Doble 1.Es.en
11/11
Recommended