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Q. What are adjusting entries?
When you start to analyze business transactions you saw that the evidence of the transaction is typically a source document. It is any printed or written evidence that describes the essential facts of a business transaction. Instance are receipts for cash paid or received checks received or written bills sent to customers or bills received from suppliers. The giving and receiving or creating of source documents triggered the journal entries made. The journal entries we talk about in this section are adjusting entries. The onset of the end of the accounting period triggers adjusting entries. Accountants utilize adjusting entries to bring accounts to their proper balances before preparing financial statements.
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
WHAT IS ACCOUNTING STANDARDS
what is the exact meaning of journal that we doing entries??
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Start in cell E3. Complete the series of substitution values ranging from 5 to 15 at increments of 1, vertically down column E.
A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders'
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