QBO chapter 9 key terms

Descripción

Key terms for chapter 9 of Quickbooks Online
QUINLAN WILSON
Fichas por QUINLAN WILSON, actualizado hace más de 1 año
QUINLAN WILSON
Creado por QUINLAN WILSON hace alrededor de 2 años
12
0

Resumen del Recurso

Pregunta Respuesta
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. It lists each account and the account balance at the end of the accounting period.
Adjustments At the end of the accounting period before preparing financial statements, make and adjustments necessary to bring the accounts up to date.
Adjusted Trial Balance Prepare and adjusted trial balance (a trial balance after adjustments) to verify that the accounting system still balances.
Financial Statements Prepare financial statements for external users (profit and loss, balance sheet, and statement of cash flows). Prepare income tax summary reports and management reports.
Prepaid Items Items that are prepaid, such as prepaid insurance or prepaid rent.
Unearned Items Items that a customer has paid us 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.
Mostrar resumen completo Ocultar resumen completo

Similar

CPA Exam Topics and breakdown
joemontin
CPA Exam Flashcards
joemontin
CPA Exam Sample Questions Pt. 1
nedtuohy
Accounting Definitions
Tess Morris
Accounting I - Objective 2 Keller
Kathleen Keller
Exam Bank 2
Valek
Specific Order Costing
Natalie Gray
COSTING SYSTMES
Francia o
Glossary of Accounting Terms
racheloucks
Unit 4 The Accounting Cycle
a.j.hemphill
Chapter One: Introduction to Accounting
charlotte.power9