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Fundamentals of Accounting > Balance Sheet > Flashcards

Balance Sheet Flashcards

Basic reminders

1
Q

Real accounts are found in ____

A

Balance sheet

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2
Q

Nominal / temporary accounts are found in ?

A

Income statement

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3
Q

What are the closing entries being closed in the capital?

A
  1. Income summary

2. Drawings

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4
Q

In doing post closing entries - range of consideration

A

Adjusted trial balance to closing entries

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Fundamentals of Accounting (5 decks)

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