Recording Business Transactions: Journal Entries, Ledgers, Trial Balance, Income Statement, Balance Sheet, and Accounting Ratios
VerifiedAI Summary
This report explains the process of recording business transactions, including preparing journal entries, representing entries in ledger accounts, computing the trial balance, constructing the income statement and balance sheet, and determining accounting ratios. It also discusses the concept of drawings and the impact of the global pandemic on the business of Anne York.