a. What do you mean by accounting? What are the differences between adjusting entry and closing entry? b. What are the characteristics of the transaction? What is meant by accrual basis accounting and how it is the best? c. Discuss the matching principle and full disclosure principles. a. Why the both sides of the balance sheet are equal? What ere the objectives of trial balance? b. Define accouning cycle. As an accountant, outline the steps of the accounting cycle. c. i. Transparent association has total assets of Tk. 200,000; owners' equity Ik.150,000; drawings Tk.40,000; revenues Tk.90,000; and expenses Tk.30,000. What is the amotint of total liabilities? ii. If total owner's equity Tk,600,000 and total liabilities are half of the OE. What is the amount of total assets? 3. The following transactions are from XYZ Enterprise for the month of May, 2022: Required: Give the necessary journal entries with explanation for the month of May. 4. The following is a journal of NazmulGeneral Store for the month of June 2021: Required: Prepare necessary ledger accounts and trial balance for the month of June. 5. a. How does work sheet help the accountant? b. Sal-Sabeel opened a law office named Samiha Bar at Law, on July 1, 2021. On July 31, the balance sheet showed Cash Tk.40,000, Accounts Receivable Tk.15,000, Supplies Tk.5,000, Furniture Tk:50,000, Accounts Payable Tk.42,000, and SalSabeel's Capital, Tk.68,000. During August the following transactions occurred: 1. Collected Tk.14,000 of accounts receivable. 2. Paid Tk.27,000 cash on accounts payable. 3. Sales of Tk.64,000 of which Tk. 40,000 was in cash and the balance was duc. 4. Purchased additional furniture for Tk.10,000, paying Tk.4,000 in cash and the balance on account. 5. Paid salarics Tk.25,000 and rent for August Tk.14,400. 6. Withdrew Tk. 5,000 in cash for personal use. 7. Received Tk.20,000 from One bank limited as a borrowed money by issuing a note payable. 8. Paid utility expenses for month on account, Tk.2,500. 9. Supplies used Tk. 3,000 for this month. Required: Prepare a tabular analysis of the August transactions beginning with July 31 balances. The column heading should be as follows: Cash+A/R+Supplies+Fumiture=NotesPayable+A/P+Capital a. What do you mean by accounting? What are the differences between adjusting entry and closing entry? b. What are the characteristics of the transaction? What is meant by accrual basis accounting and how it is the best? c. Discuss the matching principle and full disclosure principles. a. Why the both sides of the balance sheet are equal? What ere the objectives of trial balance? b. Define accouning cycle. As an accountant, outline the steps of the accounting cycle. c. i. Transparent association has total assets of Tk. 200,000; owners' equity Ik.150,000; drawings Tk.40,000; revenues Tk.90,000; and expenses Tk.30,000. What is the amotint of total liabilities? ii. If total owner's equity Tk,600,000 and total liabilities are half of the OE. What is the amount of total assets? 3. The following transactions are from XYZ Enterprise for the month of May, 2022: Required: Give the necessary journal entries with explanation for the month of May. 4. The following is a journal of NazmulGeneral Store for the month of June 2021: Required: Prepare necessary ledger accounts and trial balance for the month of June. 5. a. How does work sheet help the accountant? b. Sal-Sabeel opened a law office named Samiha Bar at Law, on July 1, 2021. On July 31, the balance sheet showed Cash Tk.40,000, Accounts Receivable Tk.15,000, Supplies Tk.5,000, Furniture Tk:50,000, Accounts Payable Tk.42,000, and SalSabeel's Capital, Tk.68,000. During August the following transactions occurred: 1. Collected Tk.14,000 of accounts receivable. 2. Paid Tk.27,000 cash on accounts payable. 3. Sales of Tk.64,000 of which Tk. 40,000 was in cash and the balance was duc. 4. Purchased additional furniture for Tk.10,000, paying Tk.4,000 in cash and the balance on account. 5. Paid salarics Tk.25,000 and rent for August Tk.14,400. 6. Withdrew Tk. 5,000 in cash for personal use. 7. Received Tk.20,000 from One bank limited as a borrowed money by issuing a note payable. 8. Paid utility expenses for month on account, Tk.2,500. 9. Supplies used Tk. 3,000 for this month. Required: Prepare a tabular analysis of the August transactions beginning with July 31 balances. The column heading should be as follows: Cash+A/R+Supplies+Fumiture=NotesPayable+A/P+Capital