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Intuit Academy Bookkeeping Professional Certificate Bookkeeping Basics Exam with accurate detailed answers

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Intuit Academy Bookkeeping Professional Certificate Bookkeeping Basics Exam with accurate detailed answers

Institution
Intuit Bookkeeping
Course
Intuit Bookkeeping

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Intuit Academy Bookkeeping Professional Certificate
|| || || || ||




Bookkeeping Basics Exam with accurate detailed || || || || || ||




answers


The Accounting Principle - ✔✔You can't mix business and personal assets or expenses.
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Accounting Equation - ✔✔Assets = Liabilities + Owner's Equity|| || || || || || || ||




|| or
Assets - Liabilities = Owner's Equity
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Expanded Accounting Equation - ✔✔Assets = Liabilities + Equity + Revenue - Expenses -
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Dividends


The Five Account Types - ✔✔Assets, Liabilities, Equity, Revenue, Expenses
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Normal balance of the five account types - ✔✔Assets- Normal Dr balance
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Expenses- Normal Dr balance || || ||




Dividends- Normal Dr balance || || ||




Equity- Normal Cr balance
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Revenue- Normal Cr balance || || ||




General Journal - ✔✔A list of transactions organized chronologically
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Posting to the Ledger - ✔✔transfer transactions entered in the journal to the general ledger and
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categorize transactions by account || || ||
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Institution
Intuit Bookkeeping
Course
Intuit Bookkeeping

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