Prepare balance sheet from trial balance in five easy steps. Format and elements of classified balance sheet.

Two methods to account for prepaid expenses: balance sheet approach and income statement approach.

Learn about accounting for repair and maintenance costs for fixed assets.

Learn about the impact of capitalizing vs expensing costs in the current and future periods.

Learn about accounting for short-term investments: trading securities and available-for-sale securities.

Learn about accounting for obsolete inventory with examples of obsolescence reserve journal entries.

Learn about accounting for advances to employees and officers with real-life examples and journal entries.