Future Profit - WHS Accounting

The Westwood Schools Introduction to Accounting Course taught by Mrs. Davis.

This is where we will post our daily topics of discussion and invite business leaders to contribute and share with the class as we learn about accounting.

Wednesday, October 11, 2006

Scribe Post on 5-3

Accounting 5-3

Vocabulary words you will need to know:

Proving Cash: determining that the amount of cash agrees with the balance of the cash account in the accounting records.

Correcting Entry: a journal entry made to correct an error in the ledger.

*when an error in a journal entry has been posted, the incorrect journal entry should be corrected with an additional journal entry.


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