Math Blog

  • admin
  • 24 Sept

Business Transactions and Accounts

Business transactions are the business records that document the financial transactions of a business; such as invoices, sales receipts, and bank deposits. How these are maintained is critical to the business as it...

accounting statement
  • admin
  • 15 Sept

Double-Entry Accounting

An easy way to remember which direction financial transactions go in for reflecting a debit and what direction a transaction goes in for a credit, is to refer to the acronym All Elephants Do Love Rowdy Children - AEDLRC. In this acronym, All Elephants Do, means that...

  • admin
  • 26 Aug

Accounting Adjusting Entries

At the end of a period a Trial Balance is updated by adjusting entries. Adjusting entries are the recorded changes to revenues and expenses that occured during that period. This update has an effect on the assets and liabilities accounts. There are two aspects that ...

closed book ledgers
  • admin
  • 5 Aug

How to Record Business Transactions

Prior to recording a business transaction there should be documentation to substantiate the entry. A document that provides evidence for the recorded transaction is referred to as a source document; this can come in the form of...

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