write a letter to the management to provide sports equipment including the dress and put you will clean the payment with in two installments
Answers
Describe the steps in recording and posting the effects of a business transaction.
➢ Give some examples of source documents.
➢ Define an account. What are the two forms of account posting illustrated in the chapter?➢ What is meant by the term double-entry procedure, or duality?
➢ Describe how you would determine the balance of a T-account.
➢ Define debit and credit.
➢ Do you think this double entry accounting system makes sense? Can you conceive of other possible methods for recording changes in accounts?
➢ Which of the steps in the accounting cycle are performed throughout the accounting period?
➢ What is the purpose of the Dividends account and how is it increased?
➢ Describe the nature and purposes of the general journal. What does journalizing mean? Give an example of a compound entry in the general journal.
➢ Describe a ledger and a chart of accounts. How do these two compare with a book and its table of contents?
➢ Describe the act of posting.
➢ What types of accounts appear in the unadjusted trial balance? What are the purposes of this trial balance?