ACC 201 Exam 1 Review

ACC 201 Exam 1 Review - Dividend Its not a cost of doing...

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Dividend – It’s not a cost of doing business. Does not help them generate revenue. Return to Owners Ledger is the Book. Ledger—anything that is affecting cash is recorded. Increasing and Decreasing. Each Revenue account will be debited. Each Expense account will be credited. Each dividend account will be credited. Expense and dividend will affect the retained earnings. They are made once a year. User need financial statements are created. The cost of gathering exceeds the benefit. Operating cash flow – Relates to things that affect NET INCOME. o Sometimes the relationship isn’t immediate. 5000 worth of goods sold on account – accounts receivable, and sales.
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ACC 201 Exam 1 Review - Dividend Its not a cost of doing...

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