Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics| Questions and 100% Correct Answers| 2025

Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics| Questions and 100% Correct Answers| 2025 The Accounting Principle You can't mix business and personal assets or expenses. Accounting Equation Assets = Liabilities + Owner's Equity or Assets - Liabilities = Owner's Equity Expanded Accounting Equation Assets = Liabilities + Equity + Revenue - Expenses - Dividends The Five Account Types Assets, Liabilities, Equity, Revenue, Expenses Normal balance of the five account types Assets- Normal Dr balance Expenses- Normal Dr balance Dividends- Normal Dr balance Equity- Normal Cr balance Revenue- Normal Cr balance General Journal A list of transactions organized chronologically Posting to the Ledger transfer transactions entered in the journal to the general ledger and categorize transactions by account Accounting Cycle