A working paper used to collect information from the ledger accounts for use in completing end of period activities.
Drawing a line; a single rule drawn under a column of figures indicates that the entries above the rule are to be added or subtracted.
Principle requiring that the expenses incurred in an accounting are matched with revenue earned in the same period.
The amount by which total revenue exceeds total expenses for the accounting period.
The amount by which total expenses exceeds total revenue for the accounting period.