Month: November 2021

Content Stay up to date on the latest accounting tips and training Suspense Account definition What is a suspense account? How to Review Manual Journal Entries What happens in case a suspense account is not closed? You might not be able to access all transactions contributing to Suspense unless accrual basis is set. In the […]

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Content Types of Financial Statements That Every Business Needs Cash Dividends and Retained Earnings The retained earnings formula Step 1: Obtain the beginning retained earnings balance Resources created by teachers for teachers Preparing A Statement Of Retained Earnings – A Business Case: Such items include sales revenue, cost of goods sold , depreciation, and necessaryoperating […]