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Many types of activities occur in a business that result in the need for an accounting...

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Finance

Many types of activities occur in a business that result in theneed for an accounting transaction. Make a list of at least tenactivities that would occur in a large retail store that wouldresult in an accounting entry. Classify each as revenue moving in,revenue moving out, or another type of activity that results in achange in an account.

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The activities for the retail store that would result in an accounting transaction entry are 1 Sales This is the primary activity of the retail store from which revenue is generated When the sale is made revenue comes in the business It creates the accounting transaction that involves cash and revenue accounts 2 Purchases When the purchases for inventory is made it involves an expense and revenue moves out of the business In this transaction accounting entry is made by involving the accounts of purchases and cash or    See Answer
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Many types of activities occur in a business that result in theneed for an accounting transaction. Make a list of at least tenactivities that would occur in a large retail store that wouldresult in an accounting entry. Classify each as revenue moving in,revenue moving out, or another type of activity that results in achange in an account.

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