Notice that the post-closing trial balance lists only permanent or balance sheet accounts. The balances of all temporary accounts have become zero as a result of closing entries. The temporary accounts have therefore not been listed in post-closing t...
Starting a virtual bookkeeping business won’t help you become an overnight billionaire. For those with a head for numbers, an eye for detail and a love for paperwork, bookkeeping is a profitable business to start. A bookkeeper keeps the financial rec...
To establish that the financial statements improperly reflect sales, electronic data from the sales and accounts receivable systems will need to be analysed in conjunction with physical or electronic records associated with customer orders, inventory...
Also, you need to understand that some fixed costs change on an annual basis, as mentioned in the contract that increases your overall fixed costs. Let’s just say you renewed your insurance policy to increase your insurance premium for the next year....
It involves manufacturers, wholesalers, retailers and services firms that market goods and services to other businesses but not the ultimate consumer. ... Manufacturers, for instance, buy raw materials, components and parts to manufacture their own g...