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Description: Why do Walmart and other retail companies publish their balance sheets on Jan 31?

Business

Accounting

Why do Walmart and other retail companies publish their balance sheets on Jan 31?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter2: Introduction To Financial Statements

Section: Chapter Questions

Problem 7EB: Gumbo Company had the following transactions during the month of December. What was the December 1...

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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