The Income Statement is the next step in the Accounting Cycle after the Trial Balance is finalised. It is one of 3 financial statements that is prepared by an accountant. The other 2 are Balance Sheet and Cash Flow Statement. It reports whether a business makes a profit or a …

Income is money that a business acquires that is earned, unearned and contributed. It has a credit balance in the ledger accounts when it increases and a debit balance when it decreases. Earned money is acquired for work done when selling goods and rendering services. Unearned money is acquired through …

It is very concerning to see your child celebrate a 7th birthday and still cannot read fluently. At this age, a child is expected to achieve basic reading skills that is applied to many story books in attempt to read better. This foundation prepares a child for lessons in vocabulary, …

The Trial Balance is the 4th step in the Accounting Cycle. It is the nail-biting moment for students of accounting. It tells you a lot about your performance thus far, and can leave you feeling frustrated or relieved when you’re done. Writing up a Trial Balance is very simple. It …

EAR is a trigraph as it has 3 letters with one sound. Having a word list with EAR makes learning to spell these words and their meanings easier. It is important to know that a lot of EAR words sound the same as other words with different spellings as in …