Create an account
What are the 9 steps in the accounting process?
Analyze transactions, Journalize, Post, Unadjusted Trial Balance, Adjusting Entries, Adjusted Trial Balance, prepare Financial Statements, Closing entries, Post-closing trial balance
What are the two questions to ask yourself when analyzing transactions?
What accounts are affected by this transaction? Are they increasing or decreasing?
What are the requirements when journalizing?
Every journal entry has a date. At least one account is debit, and at least one is credit.
When doing the unadjusted trial balance, list every account from the ledger except ___
___ is linked to another account but does the opposite
contra account; ex: equipment vs. accumulated depreciation-equip.
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