Walmart Junior Accountant Interview Questions and Answers

The basic account equation is Assets = Liabilities + Equity.

• Assets are what a company owns or has control over, such as cash, inventory, and property.

• Liabilities are what a company owes to others, such as loans and accounts payable.

• Equity is the residual interest in the assets of the company after deducting liabilities.

• The equation must always balance, meaning that the total assets must equal the total liabilities and

Two ways to estimate bad debt are aging method and percentage of sales method.

• Aging method involves categorizing accounts receivable by age and estimating the percentage of each category that will become bad debt.

• Percentage of sales method involves estimating the percentage of sales that will become bad debt based on historical data or industry averages.

• Other methods include customer creditworthiness analysis and indus...read more

To minimize and check for errors, I double-check my work and use tools like spell-check and formulas.

• I review my work multiple times before submitting it

• I use tools like spell-check and grammar-check to catch any errors

• I use formulas and templates to ensure accuracy

• I ask a colleague to review my work for a fresh perspective

• I take breaks to avoid fatigue and maintain focus