KIC000071 - $ 23,585 Ch 9-• • Limitations of Income Statement> Does not indicate the amount of cash the company is generating Does not

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Transaction Analysis Model A L + SE -- ----. CC RE EndRE BegRE + Nl - Div NI R - E ct>"".l 11<<1184 7 Unadjusted Trial Balance ~ The unadjusted trial balance looks at where all the accounts stand at the end of the period as a result of recording the external transactions ~It tell us: * The balance in each account * Whether or nat the accounts are in balance "'«1281 8 Cyclone, Inc. Unadjusted Trial Balance December 31,2009 Descnptlcn Accounts receivable Inventory Office equipment Ace cep - Office equip •• Furniture and fixtures Accounts payable Notes payable Common stock Retained earnings Totals Debit Credit cash 4,985 3,300 4,800 $1,440 6,600 2,200 2,985 4,000 10,000 2,960 $ 23,585
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Unformatted text preview: $ 23,585 Ch . ... ) 9------------------------------------------• • Limitations of Income Statement .> Does not indicate the amount of cash the company is generating » Does not directly measure the change in the value of a company » Estimation is used when measuring income "'<d~" 10 Accounting Cycle • Durlnl p. ....... • Analyze lrIDBartions • Make jomnal entries • Post to accounts • At . .. d .rp. ....... • Prepare trial balance • Make a<\justmaltB • Prepare Btatementl • Make dosing cmlca 11 a.,.•------------------------...
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This note was uploaded on 09/01/2011 for the course ACCT 284 taught by Professor Clem during the Fall '08 term at Iowa State.

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KIC000071 - $ 23,585 Ch 9-• • Limitations of Income Statement> Does not indicate the amount of cash the company is generating Does not

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