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All type of account entries?
It is important to enter all the account entries: the debits and the credits.
All of the closing entries will adjust to update that account?
all of the closing entries will adjust to update the retained earnings account.
How do you undo journal entry?
journal entries can be undone by reversing the original entries by credit the debit account and debit the credit account.
What is provisional entry in accounts?
Provision entries are entries that are made to account for expenses that have not been accounted in the period for which it relates. Hence the provision is created by debiting the expenses and crediting the party account or liability account.
Will a credit entry to an account increase the balance of a revenue account?
Yes. Since revenue accounts are "credit" accounts, they are increased by credit entries and decreased by "debit" entries.
All type of account entries?
It is important to enter all the account entries: the debits and the credits.
All of the closing entries will adjust to update that account?
all of the closing entries will adjust to update the retained earnings account.
How do you undo journal entry?
journal entries can be undone by reversing the original entries by credit the debit account and debit the credit account.
The purpose of transferring the journal entries to the account is known as?
Posting the entries to create a Trial Balance.
What are the journal entries that bring the account up to date at the end of the accounting period called?
closing entries
What is provisional entry in accounts?
Provision entries are entries that are made to account for expenses that have not been accounted in the period for which it relates. Hence the provision is created by debiting the expenses and crediting the party account or liability account.
Will a credit entry to an account increase the balance of a revenue account?
Yes. Since revenue accounts are "credit" accounts, they are increased by credit entries and decreased by "debit" entries.
What is the balance in the Cash account after you made all the entries?
c
Entries are made to the petty cash account when?
When establishing the fund.
Does the fact that the trial balanced mean that there are no errors in the account?
No. There could be missing entries or entries that were not correct (wrong amounts, duplicates, etc.)
How do you check my account without use ATM?
to check the passbook entries
The two types of journal entries needed to change general ledger account balances at the end of the fiscal period are?
Adjusting and Closing Entries.
