Net income is needed to prepare the Statement of Cash Flows.Ĭ) Statement of Cash Flows, Profit and Loss, and Balance Sheet. This order is required since the total assets obtained from the Balance Sheet is used to increase revenue on the Profit and Loss. The Balance Sheet's updated accounts are needed to prepare the Statement of Cash Flows.ī) Balance Sheet, Profit and Loss and Statement of Cash Flows. This order is required since the net income obtained from the Profit and Loss statement is used to increase owners' equity on the Balance Sheet. What is that order and why do financial statements need to be prepared in that order?Ī) Profit and Loss, Balance Sheet and Statement of Cash Flows. The financial statements must be prepared in a specific order. Use Attachments to add a file or photo of the source document.Ģ9.
Use Attachments to add a file or photo of the source document.ĭ) Select the Create (+) icon, select Bank Deposit under Other, click on Bank and enter the date, select Received Form in Add New Deposits, then select the appropriate Account and enter in the information necessary. What is the correct process to record a Bank Deposit (not related to customer sales)?Ī) Select the Gear icon, click on Bank and enter the date, select Received Form in Add New Deposits, then select the appropriate Account and enter in the information necessary.ī) Select the Create (+) icon, select Bank Deposit under Other, click on Bank and enter the date, select Received Form in Add New Deposits, then select the appropriate Account and enter in the information necessary.Ĭ) Select the Gear icon, select Create (+), click on Bank and enter the date, select Received Form in Add New Deposits, then select the appropriate Account and enter in the information necessary.
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