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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.
A user buys a new transponder for $20. What debit and credit entries would need to be made?
Q. What is dividend? One idea of the statement of retained earnings is to connect the income statement and the balance sheet. The statement of retained earnings describes the c
Solve accounting income statement question in single step with given details.. The following are information for the Lotu Wo Company: Net Sales 5
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Q. Common deductions from gross sales? Generally sales are for cash or on account when a sale is for cash the debit is to Cash and the credit is to Sales. While a sale is on ac
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