The Basics of Accounting Cheat Sheet by psx Cheatography com: Cheat Sheets For Every Occasion
Therefore, there is no expense (or revenue) to be reported on the income statement for the period of December 1-3. The totals tell us that the corporation has assets of $9,900 and the source of those assets is the stockholders. The totals tell us that the company has assets of $9,900 and that the only…