PRACTICUM

for
PRINCIPLES of
ACCOUNTING I
(Basic Accounting Process)

First Edition (2020)

By:

Dr. Judith T. Gallena–Sinaga, BSAc., MBA

 Copyright 2021

By:

Dr. Judith Tagal Gallena-Sinaga, BSAc., MBA

No portion of this practicum book may be copied or reproduced without the

permission of the author.

All rights reserved

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 DEDICATION

Humbly and lovingly dedicated to:

The Lord God Almighty for all the knowledge and wisdom.

To my late beloved husband, Victor Cornelis Sinaga, SE, MBA, and my

children (TJ and Faith), for the support and prayers.

To all my students who continuously understand my shortcomings and

imperfections.

Author

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 Preface

There are different modules prepared for the accounting students to finish. Each
module is designed to help the students more clearly understand the basic accounting
process learned in the classroom. To understand the process of accounting, each
student must be able to answer the given problem. These problems will enhance the
skill of the student. Students focus on the skills of recording, reporting, presenting
financial information.

This practicum material is designed for one (1) semester. It covers the nature of
accounting and its related accounts, the accounting equation and the rules of debit and
credit, the basic process in recording transactions, the accounting cycle, and
accounting for servicing business.

JTGS

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 TABLE OF CONTENTS

Preface

Module 1 The Nature of Accounting and its Related Accounts 1

Module 2 Accounting Equation and the Rule of Debit and Credit 7

Module 3 Basic Process in Recording Transactions 15

Module 4 Accounting Cycle 23

Module 5 Accounting for Service Business 31

Bibliograpy 38