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As a bookkeeper, you complete your work by completing the tasks of the accounting cycle. It’s called a cycle because the accounting workflow is circular: entering transactions, manipulating the transactions through the accounting cycle, closing the books at the end of the accounting period, and then starting the entire cycle again for the next accounting …

As a bookkeeper, you complete your work by completing the tasks of the accounting cycle. It’s called a cycle because the accounting workflow is circular: entering transactions, manipulating the transactions through the accounting cycle, closing the books at the end of the accounting period, and then starting the entire cycle again for the next accounting …

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Here are examples to show how the accounting equation works. See how the accounting equation stays in balance as business transactions take place. [...]

Here are examples to show how the accounting equation works. See how the accounting equation stays in balance as business transactions take place. [...]

Small business owners must wear a lot of different hats, including bookkeeper. Use this checklist to organize your bookkeeping tasks by period.                                                                                                                                                                                 More

Small business owners must wear a lot of different hats, including bookkeeper. Use this checklist to organize your bookkeeping tasks by period. More

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The Accounting period is normally a fiscal year or quarter spanning the period's accounting cycle, including transactions entered in journals, posting transactions to ledgers, trial balances and corrections, and reporting of financial statements.

The Accounting period is normally a fiscal year or quarter spanning the period's accounting cycle, including transactions entered in journals, posting transactions to ledgers, trial balances and corrections, and reporting of financial statements.

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An income statement is a financial statement that reports a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities.

An income statement is a financial statement that reports a company's financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities.

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If the dollar amount of supplies is significant, the amount of unused supplies as of the balance sheet date should be reported in the asset account Supplies or Supplies on Hand. The supplies that have been used during the accounting period should be reported in the income statement account Supplies Expense.

If the dollar amount of supplies is significant, the amount of unused supplies as of the balance sheet date should be reported in the asset account Supplies or Supplies on Hand. The supplies that have been used during the accounting period should be reported in the income statement account Supplies Expense.

If your quarterly sales tax payment is coming up, you'll need to run a Quarterly Sales Tax Payment Report in Point of Sale. Here's how to do it:

If your quarterly sales tax payment is coming up, you'll need to run a Quarterly Sales Tax Payment Report in Point of Sale. Here's how to do it:

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HSM 340 Week 2 Quiz  1. (TCO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an):  2. (TCO 2) Which method(s) of financial reporting does (do) not recognize the impact of changes in purchasing power?  3. (TCO 2) Which of the following is the BEST example of a financial metric?  4. (TCO 2) What is/(are) the primary determinant(s) of firm value?  5. (TCO 2) How are revenues and…

HSM 340 Week 2 Quiz 1. (TCO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an): 2. (TCO 2) Which method(s) of financial reporting does (do) not recognize the impact of changes in purchasing power? 3. (TCO 2) Which of the following is the BEST example of a financial metric? 4. (TCO 2) What is/(are) the primary determinant(s) of firm value? 5. (TCO 2) How are revenues and…