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About Topic 1 Additional Notes - 54th Intake
The document provides an overview of financial accounting topics including the accounting equation, recording business transactions, and preparing financial statements. It discusses the accounting equation which shows that assets are equal to liabilities plus owner's equity. It provides an example of recording business transactions for a service business and how they affect the accounting equation. Finally, it demonstrates how to prepare basic financial statements including the income statement, statement of owner's equity, and balance sheet by using the ending balances from the accounting equation.
Detailed Information
Author: | ['gglv'] |
---|---|
Publication Year: | 2016 |
Pages: | 4 |
Language: | English |
Format: | |
Price: | FREE |
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