Ana Izza Accounting

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Types of Business Ownership

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Ana Izza Accounting

QuickBooks:

You can: Record Deposits Record Transactions and payments Write and print checks

it is an accounting software used to enter and record information

Payments

emplyess payments have deductions of taxxes that are medical cae or social security.

emplyees are paid hourly or salary and if they go overtime there is an especific amount of money to pay them.

Buisnesses

Partnership: Two or more people own a buisness

Corporation: A group of people own a buisness

Sole propertiorship: Company owned by a single person

Equations

Assets: liability + owners equity

Gross pay - deductions = net pay

Terms

Assets: anything a comany owns that has an established value

Equities: financial rights of the company's assets

Liability: Amount own by the company

Owners Equity: The companies assets

Facts About Accounting:

A buisness can be own by a single person or a group fo people

Accounting is the planning recording and interpreting of financial information.

the first evidence of accounting was found in Chineese and Babylonian empire.

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