Suspense Account Practice Questions
Do you need suspense account practice questions? Here, I will give you some practice questions for practice.
The 8 Steps in the Accounting Cycle | A Step-by-Step Example Guide
The accounting cycle comprises of eight collaborative steps. They are:
Identifying and analyzing the transactions
Recoding these transactions into the general journal
Posting to the General Ledger
Preparing a trial balance
Making adjusting entries
Preparing an Adjusted Trial Balance
Preparing financial statements
Closing accounts
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Drawing Account is Which Type of Account?
When a sole proprietor or the business owner withdraws assets such as goods or cash from business for his personal use, accounting termed it as ownerโs drawing.
Fixed vs. Variable Costs: Everything You Need to Know
Variable cost varies with the level of output while fixed cost remains fixed at any level of production output.
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Mastering Reversing Entries: Practical Examples and Effective Solutions
Reversing entries in accounting records at the beginning of an accounting period to cancel out or reverse the effects of adjusting entries of preceding accounting period.
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Non-Cash Transactions Explained With Example
A business transaction (selling or buying a thing) that does not involve cash is called non-cash transaction.
Income Statement Template – Free Download
You know you can prepare your income statement in just a click. In ADโs income statement template, you just have to put your figures and you will get your income statement in a minute.
๐๐๐๐จ๐ฎ๐ง๐ญ ๐๐๐๐๐ข๐ฏ๐๐๐ฅ๐- ๐๐ง ๐๐ฌ๐ฌ๐๐ญ ๐๐ซ ๐ ๐๐ข๐๐๐ข๐ฅ๐ข๐ญ๐ฒ?
Account receivable is classified as an asset because it is the amount that the company will receive on behalf of the services that it has provided.
๐๐ฐ๐ฐ๐ฟ๐๐ฒ๐ฑ ๐ฅ๐ฒ๐๐ฒ๐ป๐๐ฒ: ๐๐ ๐๐ ๐๐ง ๐๐ฐ๐๐๐ฎ๐น ๐ฅ๐ฒ๐๐ฒ๐ป๐๐ฒ?
When a company provides its services or delivers its goods before the payment is received is called accrued revenue.
๐๐ง๐๐๐ซ๐ง๐๐ ๐๐๐ฏ๐๐ง๐ฎ๐: ๐๐ก๐๐ง ๐๐ญ ๐๐๐๐จ๐ฆ๐ ๐๐๐ซ๐ง๐๐?
The questions like what is unearned revenue? How to calculate it and recognize it? When is it transferred from the
How to prepare a control account? Example and format
What is control account and how does the control account work? And which accounts does it adjust or control particularly?
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๐๐๐๐ซ๐ง ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐๐๐จ๐ ๐ง๐ข๐ญ๐ข๐จ๐ง ๐๐ซ๐ข๐ง๐๐ข๐ฉ๐ฅ๐ ๐๐ง ๐ ๐๐ข๐ง๐ฎ๐ญ๐๐ฌ
Under the revenue recognition principle, revenue is recognized when itโs earned, not when cash is received.