Examlex
Under the retail inventory method:
Posting
Posting refers to the process of transferring entries from a company's journal into their respective accounts in the general ledger.
Financial Statements
Summarized records of a company's financial activities and position, typically comprising the balance sheet, income statement, and cash flow statement.
Shareholders' Equity
The residual interest in the assets of a corporation after deducting its liabilities, representing the net assets held by shareholders.
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