Depreciation calculation-straight line method, double declining balance method, units of production method-journal entries to trial balance & comparison of net income, depreciation expense, and accumulated depreciation.
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Allowance Method used to estimate account receivable balance not collectible, journalize bad debt expense and record allowance for doubtful accounts.
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Bank reconciliation, using bank statement to generate bank reconciliation and journal entry adjustments needed in the process.
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Subsidiary ledgers for accounts receivable and accounts payable recording activity by costumer and vendor rather then date done on the general ledger.
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Inventory methods, Fist in first out (FIFO), Last in last out, (LIFO), and average calculation and comparison.v
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Merchandising financial statements including multiple step income statement and accounts related to inventory.
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Merchandising transactions adding transactions related to inventory and accounts related to inventory, cost of good sold (COGS), sales discount, purchase discount. . .
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Closing entries journal entries to close out temporary accounts, including all income statement account, to equity accounts.
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Adjusting entry transaction, journal entries at the end of the accounting period to adjust account to accrual basis as of the date of financial statements.
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Adjusting entries as of the end of a period, needed to put trail balance on accrual bases as of the date financial statement well be prepared.
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