By Martha Bryan
By Linda Lockshin
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Learners examine the 10 steps of the accounting cycle. The cycle begins with the analysis of source documents and ends with the post-closing trial balance and interpreting the financial information.
Learners examine the main characteristics of the four financial statements required in accounting: the income statement, the owner's equity statement, the balance sheet, and the statement of cash flow.
Learners read a short explanation of T-accounts. They then demonstrate their knowledge of the characteristics of various accounts in a drag-and-drop exercise.
You'll practice solving problems using the rule for multiplying powers with the same base.