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  • Journal Entries | Examples | Accounting Cycle

    Analyzing transactions and recording them as journal entries is the first step in the accounting cycle It begins at the start of an accounting period and continues during the whole period It begins at the start of an accounting period and continues during the whole period

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    Expenditure on fixed assets may be classified into Capital Expenditure and Revenue Expenditure The distinction between the nature of capital and revenue expenditure is important as only capital expenditure is included in the cost of fixed asset

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