Fa1 Recording Financial Transactions Download
DOWNLOAD >>> https://urllie.com/2taduL
32 KAPLAN PUBLISHING 4 The debits and credits of the accounts are reconciled at the end of the accounting period. The trial balance should balance unless the following is true: a. There was a mistake in recording transactions of income or expense. b. There is an omission in the system of accounting. c. There is error in the class of account or type of transaction. d. There is error in the account or transactions. e. There are errors in the classification of transactions. f. The source of the income or expense was not identified. KAPLAN PUBLISHING 5 The trial balance should balance unless the following is true: a. There is a mistake in recording transactions of income or expense. b. There is an omission in the system of accounting. c. There is an error in the account or transactions. d. There is error in the class of account or type of transaction. e. There are errors in the classification of transactions. f. The source of the income or expense was not identified. g.
11 Accounting for the period: a) debits are recorded by subtracting them from the accounts; b) credits are recorded by adding them to the accounts. SOURCE THEORIES The source theory states that: 1. a positive or negative entry to an account is a debit or credit to the source from which the income or expense is derived. 2. The source theory applies to income and expenses, as well as assets and liabilities. 3. Transactions are recorded on the credit or debit side of the account. 4. The debits and credits are reconciled. 5. The accounts are adjusted to give the correct balance to equal the income or expense of a particular period. 6. The sources of the income or expense are identified. 7. The sources of income or expense are identified. 8. The bookkeeper has no influence on the source theory. 9. The balance on the sources of income or expenses have a bearing on the trial balance. 10. The source of income or expense that leaves a balance of income or expense in a particular account is the source from which the income or expense is derived. 11. The debits and credits of the accounts are reconciled at the end of the accounting period. 12. The balance on the sources of income or expenses should be shown on the balance sheet as a current asset or current liability. KAPLAN PUBLISHING 37
Download File: HDClone Enterprise Edition 16x Portable + Boot Image.rar Download Link: http://www.mediafire.com/?m19bkt3t0308cq8 Related: HDClone Enterprise Edition 16x Portable+ Boot Image.rar HDClone Enterprise Edition 16x Portable+ Boot Image.rar HDClone Enterprise Edition 16x Portable+ Boot Image.rar 827ec27edc