What is the book of original entry called

Reference no: EM132014947

Questions -

Q1. Owner's want to "build equity" in their business. Can be done by INVESTING (putting an asset into the business). But how do owner's prefer to build equity? Thai is, what's the best way to build it up for owners?

Q2. What's the book of "original entry" called? How do we move information from the original book to a second set of books? What's that second set of books called? Which set of books do we pull Financial Reports from? Which set of books has our "accounts"?

Q3. Paraphrase what a "trial balance" is, and tell me if it's a formal report I should give to my banker? Would I expect all accounts in any trial balance to have "normal" balances?

Reference no: EM132014947

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