Accounting Tutorial: Starting an Accounting System Chapter 1

Fast Start for Business Contract

  • Steps in Completing Business Loan
  • 1. The type of accounts that have monetary value are called?

    Assets Liabilities Stockholders Equity

    2. What is the section in the chart of accounts where we record investments by owners?

    Liabilities Expenses Stockholders Equity

    3. Advertising, salaries, repairs are in which section of a chart of accounts ?

    Asset Expenses Revenue

    4. What is the account called that is used to record items bought from a supplier meant for resale ?

    Purchases Merchandise Inv. Advertising

    Automated Accounting

    Quick start using VB10 General Ledger software

    The program can be used to create:

    1. Chart of accounts
    2. Beginning balance sheet
    3. Projected income statement
    4. Breakeven analysis.
    5. Complete financial statements each month.

    How to get instructions and the program
    Just click on the links below