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As it is earned it moves from the balance sheet to the income statement as revenue 15. The following trial balance is prepared after preparation of income statement for F. B A liability that is expected to be paid off after a year is classified as current.
Green as at 31 March 2015. Table 21 shows a sample balance sheet and the video discusses its content. Record the following transactions in the Journal and post them into ledger and prepare a Trail Balance.
Identify the major classifications 1 2 3 4 of the balance sheet. Practice is the key to success in Accounting paper exams. Balance sheet problems 1.
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