Title: Accounting Principals

Essay Details

Subject: Business
Author: Myong T
Date: May 30, 2016
Level: University
Grade: A
Length: 2 / 392
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

It is prepared by simply subtracting the expenses from the revenues. The balance sheet however is critical in reporting the assets, liabilities and owner's equity up until a specified date. When preparing this financial statement a company simply takes all of their assets (cash, accounts payable, supplies, equipment etc...

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When preparing this financial statement a company simply takes all of their assets (cash, accounts payable, supplies, equipment etc.) and adds them together to get a total dollar amount for all assets. A company also takes all liabilities and owner's equity and adds them together as well. This enables the company to get a total dollar amount for all liabilities and owner's equity just as it can with assets...

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