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Q. Completing the accounting cycle?
Subsequent to studying this chapter you should be able to
- Recapitulate the steps in the accounting cycle.
- Organize a work sheet for a service company.
- Organize an income statement, balance sheet and statement of retained earnings using information contained in the work sheet.
- Prepare closing and adjusting entries using information contained in the work sheet.
- Organize a post-closing trial balance.
- Describe the progress of accounting systems.
- Organize a classified balance sheet.
- Analyze and utilize the financial results the current ratio.
The use of ledger accounts A journal entry is similar to a set of instructions. The execution of these instructions is known as posting. Since stated earlier posting is recordi
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Earned service revenue and received cash As its first transaction in July Metro performed deliverance services for customers and received USD 4800 cash. This transaction improv
AL MASA a sole trader,decided to install a new machine to use
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
in 2011 hardin company had 220000 shares $10 par common stock, march 1 issued 45000 shares at $22, June 1 issued 15% stack dividend, July 1 issued 10000 at $27, Aug 31 2-for-1 st
Significance of Accounting Standards: Setting of Standards is an effort to standardize the reporting of accounting information across the country and also transversely the glob
contributed her $10000 in exchange for $1000 of the shares. this was deposited into a new corporate bank account she set up with TD canada trust
Do you enjoy college life? Do you enjoy teaching others? If therefore you might want to consider a career as a college professor. Even though a position as a college professor may
which account rules
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