Capital Letters

By | 2020-07-10T13:56:43-06:00 May 6th, 2020|Bookkeeping|

These adjustments reflect business profits or business losses according to the ownership of each member as well as the operating normal balance agreement terms. A lot of business owners [...]

The Business World

By | 2020-07-16T06:23:09-06:00 April 9th, 2020|Bookkeeping|

To make them zero we want to decrease the balance or do the opposite. We will debit the revenue accounts and credit the Income Summary account. The credit [...]

Balance Sheet Example

By | 2020-05-15T03:34:16-06:00 November 18th, 2019|Bookkeeping|

Income Statement Video Explanation What are the three types of revenue on an income statement?What Is a Profit and Loss Statement (P&L)? The profit and loss (P&L) statement is [...]