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Erstellt von Regan Deckinger
vor mehr als ein Jahr
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Frage | Antworten |
Chart of Accounts | The chart of accounts is a list of all accounts used to accumulate information about assets, liabilities, owner's equity, revenues, and expenses. |
Transactions | During the accounting period, record transactions with customers, vendors, employees and owners. |
Trial Balance | A trial balance is also referred to as an unadjusted trial balance because it is prepared before adjustments. |
Adjustments | At the end of the accounting period before preparing financial statements, make any adjustments necessary to bring the accounts up to date. |
Adjusted Trial Balance | Prepare an adjusted trial balance to verify that the accounting system still balances. |
Financial Statements | Prepare financial statements for external users. |
Prepaid Items | Items that are to be prepaid, such as prepaid insurance or prepaid rent. |
Unearned Items | Items that a customer has paid for, but we have not provided the product or service. |
Accrued Expenses | Expenses that are incurred but not yet paid or recorded. |
Accrued Revenues | Revenues that have been earned but not yet collected or recorded. |
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