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QuickBooks Accounting Software Overview

QuickBooks is an accounting software designed for businesses that helps track inventory, sales, income, bills, and vendors while also preparing reports. The accounting equation is defined as Assets = Liabilities + Equity, and equity is calculated as capital owner minus equity withdraw plus revenue minus expenses. The accounting cycle includes analyzing, recording transactions, preparing adjustments, financial statements, and closing entries.

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30 views1 page

QuickBooks Accounting Software Overview

QuickBooks is an accounting software designed for businesses that helps track inventory, sales, income, bills, and vendors while also preparing reports. The accounting equation is defined as Assets = Liabilities + Equity, and equity is calculated as capital owner minus equity withdraw plus revenue minus expenses. The accounting cycle includes analyzing, recording transactions, preparing adjustments, financial statements, and closing entries.

Uploaded by

vichetrachana18
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Answer:

1. QuickBooks is a accounting software of business.


2. QuickBooks help to
- track inventory
- track sale and income
- track bill and vender
- prepare report

5. Accounting Equation:

Assets= Liabilities + Equity

Equity= capital owner - equity withdraw + revenue - expense

3. Accounting is a recording a business financial.


4. Detail of Accounting Cycle
- Analyze
- Record Transaction
- Prepare adjustment
- Prepare financial statement
- Prepare closing entry

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