Accounting 1 (3)
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Summary of the effects of all transactions related to a particular item over a period of time.
List of accounts and their balances.
Transfer balances from the journal to the general ledger
Record of all transactions affecting a company.
Determine the dual effect of business events on the accounting equation.
A simplified form of a general ledger account with space at the top for the account title, one side for recording debits, and one side for recording credits.
four types of financial statements
- Income statement.
- Balance sheet. ...
- Statement of cash flows. ...
- Statement of retained earnings.
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