LU5 + LU6 - LU5: The bookkeeping process - and pages 144
5 important questions on LU5 + LU6 - LU5: The bookkeeping process - and pages 144
4 steps of Analysing transactions
- Identify the NAMES of the accounts that are affected
- Identify the EFFECT of the transactions on the accounts
- Identify the TYPE of accounts that are affected
- Identify the DEBIT and CREDIT entries
Double Entry Accounts
Gross Operating Profit
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Which tow instance have a decreasing affect on retained earnings?
- Net loss
- when dividends are declared
How can the knowledge of Accounting help managers?
- helps them understand the financial information, which reflects the financial performance of the hotel
- Will enable them to make a better decision
The question on the page originate from the summary of the following study material:
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