The balance sheet separates a company’s assets into two broad categories: current and non-current assets. The non-current asset category covers assets that a company doesn’t intend to sell within one year of its acquisition. Common non-current assets include the buildings and equipment the company owns, as well as any other long-term ... T-Accounts, Journal Entry and Trial Balance Question. by Jane (Philippines) Q: Juan de la Cruz began professional practice as a system analyst on July 1.
A chart of accounts (COA) is a created list of the accounts used by an organization to define each class of items for which money or its equivalent is spent or received. It is used to organize the entity’s finances and segregate expenditures, revenue, assets and liabilities in order to give interested parties a better understanding of the entity’s financial health. T account is an individual accounting record that shows information about increases and decreases in one balance sheet or income statement account. Have some fun and learn a little accounting and bookkeeping too. These bookkeeping and accounting quizzes, exams, cross word puzzles and games help to determine your knowledge about bookkeeping and accounting topics.