Exam (elaborations)
Accy 201 Burney Final Questions With 100% Correct Answers!!
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% of receivables method - A/R x %= Target (of Allow T-chart) % of sales method - Sales x %= Bad debt expense 3 types of current liabilities - 1. accounts payable 2. current portion of long term debt 3. short term notes payable accounting - information system that provides reports to users about the economic activities and condition of a business Accounting Cycle - 1. transactions recorded in journal 2. posted in journal 3. unadjusted trial balance 4. adjustment data assembled 5. optional end-of-year spreadsheet 6. adjustment entries posted and journalized 7. adjusted trial balance 8. financial statements 9. closing entries journalized and posted 10. prepare post-closing trial balance
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Accy 201 Burney
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Accy 201 Burney
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- Accy 201 Burney
- Course
- Accy 201 Burney
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- June 24, 2024
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