Liabilities are owner claims on assets.

On May 1, a two-year insurance policy was purchased for $18,…

Common uses of the statement of cash flows include all but w…

The ordering of accounts in a trial balance typically follow…

Net income occurs when revenues exceed expenses.

The journal is known as a book of original entry.

Typical cash flows from investing activities include each of…

The balance column in a ledger account is:

Every business transaction leaves the accounting equation in…

The ordering of accounts in a trial balance typically follow…