| Balance Sheet | GAAP | Worksheet |
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What is A=L+OE ?
The balance sheet is set up in what fundamental accounting equation?
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What is a debtor?
A name for someone who owes money to the business.G
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What is generally accepted accounting principles?
What does GAAP stand for?
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What is double-entry booking?
The reason why a balance sheet always balances
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What is
-revenue account? -expense account? -Income Summary? -Drawings account?
By the end of the year name two of the closing entries.
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What is
-accounts receivable -bank -supplies
Which assets are classified as current assets?
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1. Posting an amount to an incorrect account.
2.Continued to depreciate after its balance has reached zero. 3.The amount of checks written exceeded the
Why will some asset accounts have a credit balance?
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