The worksheet is a tool that aids in the preparation of the financial statements. Any changes in
Question:
The worksheet is a tool that aids in the preparation of the financial statements. Any changes in account balances recorded on the worksheet are not shown in the general journal and the general ledger until the adjusting entries have been journalized and posted.
a. True
b. False
Step by Step Answer:
True The worksheet is a tool that aids in the prepar...View the full answer
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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