1.2 Describe the main stages in the accounting system. State five pieces of information that can be found from the accounting system that will be of interest to the owner of the business. 1.3 What types of accounting jobs are advertised in your local paper? Classity them in relation to accounting personnel described in this chapter. What tasks do the jobs involve? 1.4 Explain the accounting concepts of: (a) business entity (b) money measurement 1.5 . . Distinguish between: assets and liabilities . debtors and creditors purchases and sales . credit purchases and cash purchases . 1.6 Show the dual aspect, as it affects the accounting equation (assets - liabilities = capital), of the following transactions for a particular business: owner starts in business with capital of 8,000 in the bank . buys a computer for 4,000, paying by cheque . obtains a loan of 3,000 by cheque from a friend buys a van for 6,000, paying by cheque . . 1.7* Fill in the missing figures: Assets Liabilities Capital 20,000 0 15,000 5,000 16,400 8,850 3,850 10,250 25,380 6,950 7,910 13,250 1.8* The table below sets out account balances from the books of a business. The columns (a) to (1) show the account balances resulting from a series of transactions that have taken place over time. You are to compare each set of adjacent columns, ie (a) with (b), (b) with (c), and so on and state, with figures, what accounting transactions have taken place in each case. (Ignore VAT). (a) (b) (c) (d) (1) Assets Office equipment 2,000 2,000 2,000 2,000 2,000 10,000 Van 10,000 10,000 Bank 10,000 8,000 14,000 4,000 6,000 3,000 Liabilities Loan 6,000 6,000 6,000 3,000 Capital 10,000 10,000 10,000 10,000 12,000 12,000