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Solid Footing Ch. 2

Pre-Closing Trial Balance

The purpose behind the pre-closing trial balance is simple: The pre-closing trial balance enables us to ensure that our debits equal our credits before moving … Read More

General Ledger

At the end of a given period, we take the General Journal and utilize it to create the General Ledger! The general ledger takes the … Read More

General Journal

Given the following scenario… Scenario: On March 1st, you purchase a new lemon squeezer for your lemonade stand with cash for $1,000. …we could write … Read More

Journal Entries

Imagine on March 1st, you decide it’s time to get a new lemon squeezer for your lemonade stand to meet the demand of the month. … Read More

Balance Sheet

The balance sheet reports a company’s total assets, liabilities, and equity at a given point in time. It ensures that the accounting equation still holds … Read More