Week 2 DQ - balance is a form of double-entry accounting...

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Is the chart of accounts the same for every organization? Explain your answer. The chart of accounts lists the various categories for income and expenses. The charts configuration of line items does vary a little between organizations but there are a few basic categories that are found in any accounting journal. What does the trial balance tell you? What does the trial balance not tell you? The trial balance lists the balance at a certain date along with debits and credits. The trial
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Unformatted text preview: balance is a form of double-entry accounting where the total debits must equal the total credits. The trial balance does not give up to date information. What is a prepaid type of adjusting journal entry? What is an accrual type of adjusting journal entry? What is the purpose of the adjusted trial balance?...
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