Students are exposed to common accounting systems including sales, purchases, federal and provincial taxes, merchandise inventory, payroll, and annual reporting of remittances. They also introduced to subsidiary ledgers, specialized journals, combined journals, year-end procedures and worksheets. Financial statements are prepared in detail, including a classified balance sheet and an income statement for a merchandising business. Prerequisite: ABTS 1430
Students are exposed to common accounting systems including sales, purchases, federal and provincial taxes, merchandise inventory, payroll, and annual reporting of remittances. They also introduced to subsidiary ledgers, specialized journals, combined journals, year-end procedures and worksheets. Financial statements are prepared in detail, including a classified balance sheet and an income statement for a merchandising business. Prerequisite: ABTS 1430
