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Q. Objective of Recording business transactions?
- Use the account as the essential classifying and storage unit for accounting information.
- Articulate the effects of business transactions in terms of debits and credits to different types of accounts.
- List the points in the accounting cycle.
- Record the results of business transactions in a journal.
- Post journal entries to an account in the ledger.
- Organize a trial balance to test the equality of debits and credits in the journalizing and posting process.
- Use and Analyze the financial results-horizontal and vertical analyses.
Q. General accepted accounting principles? In general accepted accounting principles (GAAP) set forth standards or methods for presenting financial accounting information. A
Dividing Partnership Income Desmond Drury and Ty Wilkins have decided to form a partnership. They have agreed that Drury is to invest $44,700 and that Wilkins is to invest $1
pls explain expenses incurred
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A time of 12 consecutive months used by an organization to account for and report the results of its operations.
is accounting is an art or science
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I need help in a project on 'accounting process' . It should begin with a storyline in which a buisness have to be chosen(i have chosen a tyres dealer). Then transactions taking
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