All posts tagged Accounting

P3-1 a) Cash Yasunari Kawabata D. D. S. Capital Sept 1 20,000 Sept. 4 680 Sept 19 3,000 Sept. 1 20,000 Sept 8 1,690 Sept. 5 942 Sept. 30 6,007 Sept 20 980 Sept. 10 430 23,007 Sept. 18 3,600 Sept. 19 3,000 Accounts Payable Sept. 30 1,800 Sept 18 . . . Read more

Accrual Accounting: Income is recorded as you invoice customers, and expenses are recorded when you receive bills from vendors, regardless of when cash is actually exchanged. This presents a truer picture of income and expenses. Most companies use this method. Cash-Basis Accounting: Income is recorded when cash (checks, money orders, . . . Read more