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A journal entry is the act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company's debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit. The total of the debits must equal the ...
A general journal is a daybook or subsidiary journal in which transactions relating to adjustment entries, opening stock, depreciation, accounting errors etc. are recorded. The source documents for general journal entries may be journal vouchers, copies of management reports and invoices.
A reclass or reclassification, in accounting, is a journal entry transferring an amount from one general ledger account to another. This can be done to correct a mistake; to record that long-term assets or liabilities have become current; or to record that an asset is now being used for a different purpose (e.g. lands becoming investment property intended for resale, rather than as property ...
In bookkeeping, an account refers to assets, liabilities, income, expenses, and equity, as represented by individual ledger pages, to which changes in value are chronologically recorded with debit and credit entries. These entries, referred to as postings, become part of a book of final entry or ledger.
In accounting, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting .
What If?: Serious Scientific Answers to Absurd Hypothetical Questions is a 2014 non-fiction book by Randall Munroe in which the author answers hypothetical science questions sent to him by readers of his webcomic, xkcd. The book contains a selection [Note 1] of questions and answers originally published on his blog What If?, along with several ...
Such a paper, also called an article, will only be considered valid if it undergoes a process of peer review by one or more referees (who are academics in the same field) who check that the content of the paper is suitable for publication in the journal. A paper may undergo a series of reviews, revisions, and re-submissions before finally being ...
Reading quizzes are generally given during class time. Since the pre-class JiTT assignment is completed online, no class time is used. Also, because students have more time to answer the pre-class questions than they do a typical reading quiz, the questions may be more open-ended and thought-provoking. This leads to another significant difference.