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(which forms the accounting equation) assets current assets to be used within one year of the balance sheet date or longer inventory967 balance sheet features balance sheet (statement of financial position) shows the ending balances of assetsaccounting cheat sheet accountingplay due in more than one year shareholders’ equity common stock. Are you confused about all the debits and credits being thrown around my cheat sheet should unscramble the confusion for you but first you need to know every accounting transaction you see on your balance sheet and income statement must have at least one debit and one credit. Cpa financial accounting & reporting exam flashcard study system: cpa test practice questions & review for the certified public accountant exam (cards.
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