Accountandgeneralledger

Accountandgeneralledger - Microtrain T3 Paid 24000 cash for...

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17:17 Preclosing balance and post closing balance Pre- Revenue expense accounts Post closing balance Internal document  Only for internal use Wont have official recognition Name of company Statement of Financial Position  As of “then the date” Short time notes payable Generally a year Long time notes payable  Longer than a year Income statement Just revenues and expenses This information comes from only the preclosing trial balance Dividends  Are a degree in your retained earnings For adjusting entry use the deferred sheet
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Unformatted text preview: Microtrain T3 Paid 24000 cash for insurance on the trucks to cover T4 Rented a building and paid 1200 to cover a three-month period from this date dec. 1 Only using one month so have to break it up Use prepaid rent- account name and 1200 Entry Rent expense Repaid rent expense Rent expense When you use make a an account Assets Will not have expense on it T6 Received 4500 from a customer in payment for future training service Expense Have to be specific have to say supplies expense...
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This document was uploaded on 11/04/2011 for the course SPEA-V 246 at Indiana.

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Accountandgeneralledger - Microtrain T3 Paid 24000 cash for...

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