Category: Financial Accounting I

Source Documents: A piece of paper that is used as evidence to record a transactions.A source document, often called business paper, is the document produced with each business event and used to record every business transaction. In other words, it’s a physical or electronic document that lists the details of a transaction and is used […]
Worksheet:  An accounting worksheet is a spreadsheet used to prepare accounting information and reports. Accounting worksheets are most often used in the accounting cycle process to draft an unadjusted trial balance, adjusting journal entries, adjusted trial balance, and financial statements. Worksheets are prepared at the end of an accounting period and usually include a list […]
Multi- step Income statement ,statement of retained earning and classified balence sheet ,Financial Accounting I  a)Prepare Multi- step Income statement ,statement of retained earning and classified balence sheet Question: S.no. Particulars Debit Credit 1 Equipment 112500   2 Acc. Depn equipmnt   22500 3 Buildings 200000   4 Acc. Depn buildings   40000 5 Land […]
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