A UN report has stated that the global drug trade generated an estimated US$321.6 billion in 2003.. With a world GDP of US$36 trillion in the same year, the illegal drug trade may be estimated as nearly 1% of total global trade. Consumption of illegal drugs is widespread globally.
1. A worksheet is a mandatory form that must be prepared along with an income statement and balance sheet. 2. If a worksheet is used, financial statements can be prepared before adjusting entries are journalized. 3. If total credits in the income statement columns of a worksheet exceed total debits, the enterprise has net income. 4. It is not necessary to prepare formal financial statements if a worksheet has been prepared because financial position and net income are shown on the worksheet. 5. The adjustments on a worksheet can be posted directly to the accounts in the ledger from the worksheet. 6. The adjusted trial balance columns of a worksheet are obtained by subtracting the
Hello Sunrise. I am not exactly sure how many weeks you are into your preparations, but if you are like most students using the DIT course as part of their Step 1 preparation, you are 3-4 weeks away from your exam date. If so, then you are doing fine for this stage in your study prep.