subsequently‚ the emergence of the currency as a general equivalent‚ the emergence and development of the various forms of writing and that of figures. We must also emphasize paper discovery‚ which was firstly used by the Chinese [3]. The first accounting entries were made in ancient times by the means of the king of Babylon‚ Hammourabi‚ the initiator of the first commercial and social law code. The study of Hammourabi’s code led to the conclusion that Babylonian people knew the concept of active and passive
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To Build a Fire Journal Entry The old timer in the story of‚ “To Build a Fire” by Jack London‚ plays a significant role throughout The man’s journey through the Yukon Trail. His part also has a truly symbolic meaning that is evident whenever The man refers to him. While looking at the story from a Darwinian perspective‚ The old timer is a successful breed of humans because of his wise decisions and intelligence. He shared his thoughts to The man about the traveling conditions that day and offered
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Catcher in the Rye Chapters 1-7 Journal entry a) Plot Development 1) Exposition Holden Caulfield is a 17-year-old adolescent and the protagonist of the novel. He describes the events occurring in 2 days around Christmas time of the previous year. He gets expelled from the Pencey prep school for failing in four subjects. He narrates what happened after he had left the school and why he had left it two days earlier than scheduled day. 2) Conflict This boy has an ongoing process of conflict
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Introduction to Accounting MBA 643: INTRODUCTION TO ENTREPRENEURSHIP Introduction to Accounting LECTURE SERIES WEEK 7‚ LECTURE 8 1 Introduction to Accounting Learning Objectives This Chapter would enable you to understand: Definitions of Accounting Meaning of Accounting Attributes of Accounting Accounting Process Branches of Accounting Book Keeping‚ Accounting and Accountancy Difference between Book Keeping and Accounting 2 Introduction to Accounting Learning Objectives
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ten steps that are included. They are as follow; transactions are analyzed and recorded in the journal‚ posted to the ledger‚ an unadjusted trial balance is prepared‚ adjustment data are assembled and analyzed‚ an optional end-of-period spreadsheet is prepared‚ adjusting entries are journalized and posted to the ledger‚ an adjusted trial balance is prepared‚ financial statement are prepared‚ closing entries are journalized and posted to the ledger‚ and post-closing trial balance is prepared. In this
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Q1. Accounting is one of the oldest‚ structured management information system. Give the meaning of accounting and book keeping? Explain the objectives of accounting? A1. Accounting : Accounting is the analysis and interpretation of book-keeping records. It includes not only the maintenance of accounting records but also the preparation of financial and economic information which involves the measurement of transactions and other events relating to the entity. Accounting is defined as "the art
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known as "T" Account and Account) Having passed the double or journal entries‚ the next step is to post these double or journal entries into Ledger accounts. Ledger account or an account is simply the classification of double entries which we have made in General Journal or any other journal. In an account we bring together all similar entries in one place. For example a company has purchased goods on 4th and 7th January‚ we would put both entries in purchases account because of their similar nature
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Introduction -- 1. What Is Accounting -- 2. History --- 2.1. Ancient Accounting --- 2.2. Accounting In Mesopotamia --- 2.3. Accounting In Ancient Egypt‚ China‚ Greece and Rome --- 2.4. Medieval Accounting --- 2.5. Italian Renaissance: Birth of Double Entry Bookkeeping ---- 2.5.1. Luca Pacioli Biography ---- 2.5.2. Significance of the Summa --- 2.6. Professional Accountancy Travels Across the Globe --- 2.7. The Twentieth Century -- 3. How Technology has Impacted Accounting - Reference List
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transactions and ends with preparing the accounting records for the next period. There are ten steps one must follow in the accounting cycle. The first step in the accounting cycle is to analyze and record transactions in the journal using the double entry-accounting system. During this step you have to read the description of the transaction carefully and determine whether an asset‚ liability‚ owner’s equity‚ revenue‚ expense‚ or drawing account is affected. For each account that
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3. The accounting equation does not have to be in balance to be correct. 4. A business that performs an activity for a fee is a service business. 5. The amount in an account is an account balance. 6. The capital account is a liability account. 7. Double lines below a column total mean that the totals have been verified as correct. 8. A withdrawal is an expense. 9. Cash is increased by expenses. ____ 10. Payments for advertising‚ equipment repairs‚ utilities‚ and rent are expense transactions.
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