Accounting

Question	Answer
Cash Receipt Journal	Image: b6eef0b6-30bd-4012-907e-6d58bb21bde7 (image/jpg)
Cash Payments Journal	Image: de66e11d-0d64-4e40-bf33-7202afe6be40 (image/png)
Statement of Receipts and Payments	Image: 2426e0e7-bb6b-4b90-8a82-5060ceadb2cc (image/jpg)
Profit and Loss Statement	Image: 1dc31277-0c0e-4a9c-a497-39f98c3a7ac7 (image/jpg)
The four steps in the accounting cycle: ARSP	The four steps in the accounting cycle: 1. Analyse the transactions 2. Record the effect of transactions in a journal entry 3. Summarise the effects of transactions • Post journal entries to the ledger • Prepare a trial balance 4. Prepare reports • Make adjusting entries • Prepare financial statements • Close the books
Keeping Business Records & Keeping Financial Records	. Monitor the progress of your business . Prepare your financial statements Identify sources of your income Keep track of your deductible expenses . Keep track of your basis in property . Prepare your tax returns . Support items reported on your tax returns

Resource summary

	Created by Sophee-Ann G over 9 years ago