What is internal control and how can it protect a company’s assets? What are the various internal control procedures with respect to cash receipts and payments? When preparing a bank reconciliation, what are the different adjustments that affect the book and bank side? Why do journal entries need to be prepared after completing the bank […]
Tag Archives: entries
How is the statement of retained earnings prepared? What is the purpose of closing entries? What accounts are not affected by closing entries? Explain and provide examples
How is the statement of retained earnings prepared? What is the purpose of closing entries? What accounts are not affected by closing entries? Explain and provide examples.
