100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics Questions Exam With Solutions 100% Correct $9.99   Add to cart

Exam (elaborations)

Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics Questions Exam With Solutions 100% Correct

 4 views  0 purchase
  • Course
  • Bookkeeping
  • Institution
  • Bookkeeping

Intuit Academy Bookkeeping Professional Certificate: Bookkeeping Basics Questions Exam With Solutions 100% Correct The Accounting Principle You can't mix business and personal assets or expenses. Accounting Equation Assets = Liabilities + Owner's Equity or Assets - Liabilities = Owner's Equi...

[Show more]

Preview 2 out of 7  pages

  • September 15, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Bookkeeping
  • Bookkeeping
avatar-seller
UpperClass
Intuit Academy Bookkeeping Professional
Certificate: Bookkeeping Basics Questions
Exam With Solutions 100% Correct

The Accounting Principle You can't mix business and personal assets or expenses.




Accounting Equation Assets = Liabilities + Owner's Equity


or

Assets - Liabilities = Owner's Equity




Expanded Accounting Equation Assets = Liabilities + Equity + Revenue - Expenses -

Dividends




The Five Account Types Assets, Liabilities, Equity, Revenue, Expenses




Normal balance of the five account types Assets- Normal Dr balance


Expenses- Normal Dr balance

Dividends- Normal Dr balance

Equity- Normal Cr balance

, Intuit Academy Bookkeeping Professional
Certificate: Bookkeeping Basics Questions
Exam With Solutions 100% Correct
Revenue- Normal Cr balance




General Journal A list of transactions organized chronologically




Posting to the Ledger transfer transactions entered in the journal to the general ledger and

categorize transactions by account




Accounting Cycle a collective process of identifying, analyzing, and recording the

accounting events of a company




Steps in the Accounting Cycle 1. Collect, analyze, and post transactions to the Journal


2. Post transactions to the ledger

3. Prepare an unadjusted trial balance

4. Prepare adjusting entries at period end

5. Prepare an adjusted trial balance

6. Prepare financial statements

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 UpperClass. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72001 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart