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Analyzing business transactions igure mary entry 930 required if you are using working papers complete the following.
Working papers 5 2 accounting answers. What does working papers mean. Write the owner s name on the capital and drawing t accounts. Read online century 21 accounting working papers answer key book pdf free download link book now.
The accounting cycle for a service business. In other words working papers are reports prepared by accountants that summarize evidence found in client documents and are used by accountants to prepare financial statements. Patty sue 75 adjustments and.
If you want more practice with full accounting questions and answers you should get the official exercise book for this site volume 2 in the accounting basics series. 16 mar 2020 rating. For the year ended december 31 2008.
One of the most common forms of working papers is a worksheet. Accounting working papers offers a quantum leap in working paper preparation with linked worksheets automatic tax calculators pre filled the working papers have been designed to provide a practical step by step process for staff to use when preparing the clients financial statements. Sales 600 000 400 000 a 130 000 870 000 income from sue 102 500 d 102 500 cost of sales 270 000 210 000 b 20 000 a 130 000.
Record the account balances in the t accounts for owner s equity revenue and expenses. Download principles of accounting questions and answers for exam. All books are in clear copy here and all files are secure so don t worry about it.
Working papers accounting 1 problem 5 1 applying the rules of debit and credit textbook p. This is just one of the solutions for you to be successful. Worksheets are used to summarize year end accounting processes post.
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