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Q. Explain the Adjusting Journal Entry?
Adjusting Journal Entry - An accounting entry made into a subsidiary ledger known as the Generaljournal to account for a periods changes, omissions or other financial data essential to be reported‘in the books' but not generally posted to the journals used for typical period transactions (cashreceipts journal, cash disbursements journal, payroll journal, sales journal and so on) entry is posted to general ledger accounts directly and generally will be numbered itself, datedand have an explanation. Illustration: AJE# 1 12-31-2003, debit Cash in bank $1,000. Creditinterest income $1,000, to record interest income on business bank account at year end, notrecorded in cash receipts journal though credited by the bank. (Cross-reference bank reconciliationand account where it was found)
Ask queswtion #Minimum 100 words accepted# what are the characteristics of debt finance? What are the similarities and differences between debt finance and ordinary share capital
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Explain the significance of the term additional funds needed . When the pro forma balance sheet is finished, total liabilities and total assets and equity will rarely match.
Types of equaty Securities Equity securities, traditionally, are classified into two types when they are issued. They are: Common Stock, and Preferred Stock. Common Stoc
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