In what era was the income of temples was recorded in lower Mesopotamia?
In history of accounting the invention of the first bead and wire abacus by the egyption who were already making and keeping accounting records during the time.
When is this?
In what century was Luca Pacioli became a prominent person in accounting history and this is due to writing a book that introduce and disseminated the double-entry bookkeeping.
This is the process of recording financial transaction pertaining to a business.
Who is the Father of modern accounting?
Accrued income is item related to income that was collected in advance before they earned. After the earning process is completed, these items are
transferred to income.
Accounts receivable is a receivable supported by oral or informal promises to pay.
Equity is assets minus liabilities.
This refers to the left side of the account.
It is a sub-component of the statement of comprehensive income, which is also one of the components of a complete set of financial statements. The income statement shows the profit or loss of a business.
Accounts payable and accounts receivable are opposites.
This refers to the right side of the account.
Notes payable is obligation supported by oral or informal promises to pay by the debtor.
Freight – in represents the sellers’ cost of delivering goods to customers.
Accounts receivable or the amount to be received when a customer orders on account is an example of what account?