Chapter 3 acccob 1 - Study guides, Class notes & Summaries

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CHAPTER 3 ACCCOB 1 Exam 2023
  • CHAPTER 3 ACCCOB 1 Exam 2023

  • Exam (elaborations) • 4 pages • 2023
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  • CHAPTER 3 ACCCOB 1 Exam 2023 Accounting cycle of a partnership form of business. - 1. Analyzing business documents 2. Posting ledgers 3. Trial Balanace 4. Worksheet 5. Recording adjusting entries 6. Financial statements 7. Recording and posting closing entries 8. PCTB 9. Recording and posting reversing entries Accounts used in partnerships - *CAPITAL ACCOUNT (Debited) - permanent withdrawals - retirement/selling of interest in partnership - distribution of loss (Credited) - init...
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CHAPTER 3 ACCCOB 1 Exam 2023
  • CHAPTER 3 ACCCOB 1 Exam 2023

  • Exam (elaborations) • 4 pages • 2023
  • CHAPTER 3 ACCCOB 1 Exam 2023 Accounting cycle of a partnership form of business. - 1. Analyzing business documents 2. Posting ledgers 3. Trial Balanace 4. Worksheet 5. Recording adjusting entries 6. Financial statements 7. Recording and posting closing entries 8. PCTB 9. Recording and posting reversing entries Accounts used in partnerships - *CAPITAL ACCOUNT (Debited) - permanent withdrawals - retirement/selling of interest in partnership - distribution of loss (Credited) - init...
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