(Also 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
Premium Accounts receivable Debt Double-entry bookkeeping system
Chapter 1 of Looking Out‚ Looking In by Adler & Proctor‚ highlights some of the communication misconceptions that we are all guilty of falling prey to at one time or another. One of these misconceptions‚ that excess communication is not always better‚ was brought to my attention on page 18 of Chapter 1 in Looking Out Looking In. This also happens to be the communication misconception that I most often fall prey to. In order to understand why I find myself over communicating I have to take a look
Premium Communication Psychology Message
process: 1. Identify the transaction 2. Record the transaction as a journal entry 3. Post the entry in the individual accounts in ledgers. 4. Create preliminary trial balance 5. Adjusting entries 6. Create adjusted trial balance of the accounts 7. Combine sums in various accounts 8. Close books for current month Permanent accounts are also known as real accounts. These are accounts that do not close at the end of the accounting year. The permanent accounts are all of
Premium Balance sheet Income statement Generally Accepted Accounting Principles
EXAMPLES OF ACCOUNTS FALLING UNDER EACH ACCOUNTING EQUATION ELEMENT: Current Assets Cash - A current asset account which includes currency‚ coins‚ checking accounts‚ and undeposited checks received from customers. The amounts must be unrestricted. (Restricted cash should be recorded in a different account.) Petty Cash Fund - A current asset account that represents an amount of cash for making small disbursements for postage due‚ supplies‚ etc. Notes Receivable - An asset representing the
Premium Generally Accepted Accounting Principles Balance sheet
of Education Advanced Subsidiary Level and Advanced Level ACCOUNTING PAPER 1 Multiple Choice 9706/1 MAY/JUNE SESSION 2002 1 hour Additional materials: Multiple Choice answer sheet Soft clean eraser Soft pencil (type B or HB is recommended) TIME 1 hour INSTRUCTIONS TO CANDIDATES Do not open this booklet until you are told to do so. Write your name‚ Centre number and candidate number on the answer sheet in the spaces provided unless this has already been done for you. There are thirty
Premium Generally Accepted Accounting Principles Balance sheet
right balance in their lives. Confucius felt that if equilibrium could be restored to the individual‚ then order could be restored to the family‚ to other relationships‚ to the state‚ to the world‚ and to the universe. He described the superior man as being one who could maintain centrality and universality. According to Confucius‚ “When a man pursues the Way and yet remains away from man‚ his course cannot be considered the Way.” I believe this means that if one attempts to pursue balance to better
Premium High school Arithmetic mean Grade
known as a 10-K. Although these have similarities‚ they also have key differences. Purpose * An annual report is used to represent the state of the company to shareholders‚ and give them an insight into the company’s activities in the past year. It’s unofficial‚ and its purpose is mainly to communicate‚ so it serves something of a public relations function. A Form 10-K report is an official document that publicly traded companies must file with the Securities and Exchange Commission. In contrast
Premium Balance sheet Financial statements Auditor's report
Introduction - Sources of Finance Introduction to the Sources of Finance resource. Sources of Finance Introduction This resource is designed for use with Accounting courses at A ’ level. This resource is relevant to the following: * AQA Module 5‚ Section 14.5: ’Types of Business Organisation‚ Sources of Finance ’ * OCR Module 2505‚ Sections 5.3.2 and 5.6.2 For many businesses‚ the issue about where to get funds from for starting up‚ development and expansion can be crucial for the success
Premium Stock Stock market Corporation
R E V I E W S H E E T EXERCISE 1 Print Form The Language of Anatomy Surface Anatomy 1. Match each of the following descriptions with a key equivalent‚ and record the key letter or term in front of the description. Key: a. b. buccal calcaneal 1. 2. 3. c. d. cephalic digital e. f. patellar scapular 4. 5. 6. anterior aspect of knee heel of foot pertaining to the head cheek pertaining to the fingers shoulder blade region 2. Indicate the following body areas on the accompanying diagram
Premium Anatomy Vertebral column
CXC PRINCIPLE OF ACCOUNTS PROJECT School-Based Assessment (S.B.A) (Year 2012) [pic] Submitted by: Danique Arthurs Year: May/June 2012 Name of School: Charles Fordyce Business College Name of Teacher: Charles Fordyce Centre No: 100228 Candidate No: Territory: Jamaica Table of Contents Introduction………………………………………………………………..5 Acknowledgement………………………………………………………...6 Description of Business…………………………………………………...7 Location of
Premium 1967 1983