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The goal of an unadjusted Trial Balance is to show that debits equal credits.

An example of an internal user of accounting information is employees.

When a business sends a bill to a customer for services provided, it increases cash.

If Assets equal $5,000 and Liabilities equal $2000 what is the balance of Owner’s Equity?

What is the best description for the journal entry below? Aug 15     Equipment 1000                        Cash       1000                     ????????????

The area of accounting that provides external users with information is called:

When journalizing a transaction, credits are written first and debits are written second and indented.

When journalizing a transaction, the debits and credits need to be equal.

When an owner withdraws money, it will increase the Drawing account, but overall decrease Owner’s Equity.

The objective of most businesses is to earn a profit.