This requirement ensures that candidates have a well-rounded understanding of business principles and concepts beyond accounting. Have you ever dreamed of becoming a Certified Public Accountant (CPA), but don’t have a background in accounting? While a traditional accounting degree is the most comm...

To do so, you might want to create a journal entry to transfer the balance of the OBE account to the appropriate equity accounts. Another way is to create equity accounts with zero balances and then distribute the amount still remaining on the OBE account to them accordingly through journal entries....