Requirements
- 1.
Show transactions necessary for acquisition or deposit of assets, and acquisition and disposal of liability. Show transactions necessary to close income and expense accounts at year end.
- 2.
Be able to correctly classify balance sheet items with short term asset, long term asset, contra asset, short term liability, long term liability, and equity.
- 3.
Be able to write an income statement from a trial balance.
- 4.
Be able to reconcile bank balance to book balance in checking accounts, including deposit in transit, service charge, returned NSF, interest on account, and checks in transit.
About this honor
- Category
- Vocational
- Skill level
- 3
- Division
- General Conference
- Edition
- 2001
- Original honor
- 1938
Requirements are published by AdventSource for the General Conference of Seventh-day Adventists. Advent Clubs reproduces them here for club leaders and links the original document above.