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Transcript of Accounting
is an individual record or form to record and summarize information for each asset, liability, or owner’s equity transaction.
This statement is a listing of the firm’s assets, liabilities, and owner’s equity at a specific point in time. Total Assets must
the addition of Liabilities and Owner’s Equity.
The left side must
the right side of a "T" account.
: is any activity that you sell or buy something. It will changes the value of a firm's assets, liabilities, or owner's equity.
Ex: You buy a pen ; I sold my car; ....
You are going to prepare a Balance Sheet for the Financial Statements.
are debts owed by the business. The name of the account used is
is the process of keeping track of a business' finances by keeping track of its expenses and income.
Ex: Manage, Calculating,
money of particular
are items with money value that are owned by a business.
Examples : cash, equipment, supplies,...
The amount remaining after the value of all liabilities is subtracted from the value of all assets.
Step by step process organizing of the business record
Receipts, checks, something that have balanced on
Organized summaries of a business' financial activities
Ex: pass bills, balance sheet, ...
A person who plans, summarizes, analyzes accounting-information
Manage, calculate, organize, invest the money of particular business
A form for recording transactions relate to cash
Transfering information from a journal entry to a ledger account
a proof of the equality of debits and credits in a general ledger
A = L + OE