Bookkeepi - Study guides, Class notes & Summaries

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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- Nor...

Intuit Certified Bookkeeping Professional Project Workbook First Edition Table of Contents Introduction 1 Best Practices Using LearnKey’s Online Training 2 Using This Workbook 3 Skills Assessment 4 Intuit Certified Bookkeeping Professional Video Times 5 Domain 1 Lesson 1 6 Fill-in-the-Blanks 7 Ethical Responsibilities 8 Accounting Equation 9 Important Financial Reports 10 Double-Entry Accounting and T-Accounts 11 Transaction Journal and General Ledger 12 Domain 1 Lesson 2 13 ...

Bookkeeping Basics Questions and Answers Graded A+ What is a subsidiary ledger? A subsidiary ledger provides detailed information about specific types of transactions that are summarized in the general ledger, such as accounts receivable or accounts payable. What is meant by " accrual accounting"? Accrual accounting recognizes revenues and expenses when they occur, rather than when cash is received or paid. What does a trial balance reveal about a company's financial records...

Bookkeeping with QuickBooks Questions and Answers 100% Pass How do you categorize an expense in QuickBooks? To categorize an expense in QuickBooks, go to the "Expenses" menu, select "Enter Bills" or "Write Checks," choose the expense account from the drop-down list, and enter the expense details. What is a QuickBooks balance sheet report? A balance sheet report in QuickBooks shows the company’s financial position at a specific date, listing assets, liabilities, and equity. ...

Bookkeeping Certification Questions and Answers Rated A+ What is the purpose of an asset management report? An asset management report provides details on the company's assets, including their value, condition, and how they are being utilized. How do you record a capital investment in bookkeeping? A capital investment is recorded by increasing the company's equity account and reflecting the new assets or cash brought into the business. What is the function of an accounts rece...

Bookkeeping with Quickbooks