Business Performance Review

Then closing the expense accounts, which transfers the balances in the expense account to a clearing account called income summary. Then closing the income summary account, which transfers the balance of the income summary account to the retained earning account. Finally, closing the dividends account, which transfers the balance of the dividends account to the retained earning account. The closing process is important because it reduces the revenue, expense, and dividends account balances to zero so they are ready to receive data for the next accounting period. The only account types that remain open are assets, liabilities, capital stock, and retained

Asset Account – Can be organized into current and non-current category. Types of current accounts would be goods owned by a company with the result of selling items or a written note(s) receivable, in which a promise is made to repay services rendered. A non-current item is any item used for the efficient running of a company such as equipment like computers. This referred to as a fixed asset. (MyAccountingCourse.com, n.d.)

(b) Would the trial balance be out of balance if the $2650 entry had been journalized correctly but the credit to Cash had been posted as $2560?

5. Remember to subtract you debits from your balance and credits you add to your balance.

3. The accounts in question may be sales, sales returns, discounts, and possibly allowance for doubtful accounts.

A. Evaluate how the review of organizational performance takes place in your school organization by doing the following:

The purpose of this business strategy report was to analyze the internal and external environment of Ibis hotel and made recommendations to improve its generic strategy based on business-level and corporate-level strategy. According to analyzing the Ibis hotel’s internal environment, both tangible and intangible resources of the hotel were better than other economic hotels, because the facilities and equipment were in good conditions. Meanwhile, the Ibis hotel won many awards which not only benefited from the reputation of Accor but also benefit its high quality services. However, the only problem of the hotel was its design style did not combine with local cultures. The Ibis hotel also had capabilities to provide the

and Desi are talking in her dormitory, as they speak we hear a song by

The general ledger is comprised of all the individual accounts needed to record the assets, liabilities, equity, revenue, expense, gain, and loss transactions of a business. In most cases, detailed transactions are recorded directly in these general ledger accounts. The trial balance is a report run at the end of an accounting period, listing the ending balance in each account. The general purpose of producing a trial balance is to ensure the entries in a company's bookkeeping system are mathematically correct. This report is primarily used to ensure that the total of all debits equals the total of all credits, which means that there are no unbalanced journal entries in the accounting system that would make it impossible to generate accurate financial statements. Trial balance are useful for auditors and accountants who wish to discover whether math errors and/or some posting errors were made. Trial balance is an internal document and it is not distributed to anyone outside of the accounting and auditing staff. Financial statements are formal record of the financial activities and position of a business, person, or other

No one ever wants to receive a below-average rating as my review has indicated. I have had a lengthy and well-documented career of consistently meeting and exceeding my goals across two prior companies and my 2015 Performance Review grading is absolutely beyond confounding.

2) What does the term account mean?  What are the different classifications of accounts?  How do the rules for debits and credits impact accounts?  Please provide an example of how debits and credits impact accounts.

The purpose of this report is to review 3 different analyzed employee compensation strategies that could potentially benefit your corporation if accurately executed. As a business you must remember that Employee Compensation is key to identifying as well as rewarding your employees, for their exceptional performance and contributions to the company’s success rate

At the end of each month a trial balance is printed along with a first run of the general ledger and the administrator/owner and I each receive a copy. The administrator/owner or I will then go through all of the different accounts information and perform the fifth step of the accounting cycle which is preparing the adjusting entries and inputting the entries into the accounting system. These adjusting entries usually include such things as depreciation expense, petty cash reconciliation, revenues that have been earned, bank interest, CD interest, liability insurance adjustments, and payroll taxes.

23. The entry to record $750 received from a customer for services previously rendered to that customer

I hope the week is going well for you! Attached is the enhanced version of our Strategy Overview & Performance Monthly Report, for your records and review.