Net Pay
-:- what you take home after taxes
Steps in the Accounting Cycle
-:- Analyze, Record, classifies, summarizes, reports, interprets
common special journals
-:- 1. sales journal
2. cash receipts journal
3. purchase journal
4. cash disbursement journal
GAAP
-:- Generally Accepte...
✓ -:- The process of planning, recording, analyzing, and interpreting financial
information.
n/10 EOM
✓ -:- no discount; full amount is due within 10 days after the end of the month
Accounts Receivable
✓ -:- Amounts to be received in the future due to the sale of goods or services
bookkeeping
✓ -:- the recording of business transactions
Accounts Payable
✓ -:- Amounts to be paid in the future for goods or services already acquired
accountant
✓ -:- A person who plans, summarizes, analyzes, and interprets accounting
information.
accounts Receivable is an
3|Page | Grade A+| 2024/2025
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TestTrackers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
