Solution-Cash basis accounting system

Cash basis accounting system

Assignment Help Financial Accounting

Reference no: EM131183

Answer following question:

1. what are the several fields of accounting and how do they differ?

2. how are expenses and revenues affect the owners' equity account?

3. why are expenses and revenues recorded separately from the owner's equity account?

4. are adjusting entries used in an accrual basis accounting system or in a cash basis accounting system? Why?

Reference no: EM131183

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Cash basis accounting system

Reference no: EM131183

Reference no: EM131183

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