Category: Accounting
Cash Book: Definition, Types of Cash Book, Example, Format of Cash Books
A cash book is a type of a financial diary in which all cash receipts and expenditures, including bank deposits and withdrawals, are recorded. It is a subsidiary…
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Income Statement: Defintion, Limitation of Financial Statements, Noncash Item’s Impact on Financial Statements
The income statement is a financial statement that helps determine the past financial performance of a company, predict future performance, and assess the capability of generating future cash…
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Trial Balance Errors and Types and Rectification of Trial Balance Errors
The trial balance is important in accounting for checking arithmetical accuracy, assisting in preparing financial statements, rectifying errors, and making adjustments. Trial balance errors are common but fixable…
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Trial Balance: Definition, 3 Types and How to Prepare a Trial Balance?
A trial balance is a bookkeeping worksheet that lists the balances of all ledgers in debit and credit columns. So it is used to ensure that all entries…
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What is Accounting Ledger and “4 Types” of Accounting Ledger
An accounting ledger is a book or digital record that stores bookkeeping entries for balance sheet and income statement transactions. So it is used to store financial transactions…
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