When journalizing a transaction, a short explanation may be written?

1 answer:

3 0

When journalizing, it is alright to write short explanations about the transactions. Journalizing is the step in the accounting process where entries in relation to the transactions made are accounted in the books. It is important that the proper entries are made because these are the basis or the foundation in making the financial statements of the company. And these financial statements are essential to the company. The entries include the assets, liabilities, revenues and expenses of the business entity. The nature of these accounts are either debit or credit. In journalizing these entries, it is also important that the amounts are equally balance since it is one of the basics in accounting to consider that in every transaction there is a corresponding or equal reaction.

You might be interested in

"A researcher who is seeking to understanding the role of genetics in the development of childhood schizophrenia might be in the

pashok25 [27]

Answer:

molecular genetics.

Explanation:

Schizophrenia in children is a rare but serious mental condition in which individuals abnormally perceive reality. It involves a range of mental, or emotional problems hallucinations, and highly disordered thoughts and actions that hinder the ability of your child to work. Molecular genetics uses molecular biology's laboratory techniques to link structural changes and sequencing of genetic variants to functional changes in protein function, and ultimately to health problems such as childhood schizophrenia in this scenario.

3 0

3 years ago

Explain the principles behind Separation of Powers

boyakko [2]

Separation of powers, therefore, refers to the division of government responsibilities into distinct branches to limit any one branch from exercising the core functions of another. The intent is to prevent the concentration of power and provide for checks and balances.

4 0

3 years ago

How has the force of deposition benefited Arkansas?

Assoli18 [71]

Answer:

Explanation:

3 0

3 years ago

Istvan is well liked by his friends because he is trusting, considerate, compassionate, loyal, and easy to get along with. Which

dimaraw [331]

Answer: Agreeableness.

Explanation:

Agreeableness is one of the five factors of personality, known as Big Five. Other four traits include openness to experience, conscientiousness, extraversion and neuroticism. If someone is agreeable, it means that he/she is people-oriented, demonstrates good social skills, and attempts to find something positive in anyone he/she encounters.

Agreeableness best fits into the account of Istvan's personality we are given, because trustworthiness, consideration, compassion and loyalty are all component parts of this trait.

3 0

4 years ago

Use the scenario to answer the question

ddd [48]

Sun and planets> the sun is just a ball of fire lolz

3 0

3 years ago

Read 2 more answers