EY Global Delivery Services ( EY GDS) Assurance Associate Interview Questions, Process, and Tips

Depreciation methods include straight-line, double-declining balance, and units of production. Cash flow statement comprises of operating, investing, and financing activities.

• Straight-line method depreciates assets evenly over their useful life

• Double-declining balance method depreciates assets more heavily in the early years of their useful life

• Units of production method depreciates assets based on their usage

• Cash flow...read more

Journal entries of sales and purchase

• Sales journal entry includes debit to cash or accounts receivable and credit to sales revenue

• Purchase journal entry includes debit to inventory and credit to accounts payable

• Sales returns and allowances journal entry includes debit to sales returns and allowances and credit to cash or accounts receivable

• Purchase returns and allowances journal entry includes debit to accounts payable