Answered step by step
Verified Expert Solution
Question
1 Approved Answer
determine if items are assets liabilities owners equity revenue thats the whole question i was given thats all i was given to work with 11]
determine if items are assets liabilities owners equity revenue thats the whole question i was given thats all i was given to work with 11] Journalise the following transactions into the section Respond template 12) Enter beginning balances in the T-account. Cash- AED 15,000 Acc Pay-AED 15,000. Post journal entries into appropriate T-accounts. [3] Determine the ending balance in his Cash and Acc Payable T-account [4] Explain Debit and credit rules for all accounting elements and how we calculate Ending balance for Revenues and for Assets. [5] Is it possible to correct the wrong accounting entry? Advice a new accountant who made a mistake, and he made the same entry twice. (Cash 120 Dr and Acc Receivable 120 Cr.-dis entry was made twice.) (BONUS Question - 4 points- OPTIONAL) 1 - Journal transactions Dr a b Dr Cash Cr Dr Service Rev Cr Dr Supplies Dr Acc Payable C I Dr. Cr Dr Utility expcr Dr Land Cr Dr Cr Next page 11] Journalise the following transactions into the section Respond template 12) Enter beginning balances in the T-account. Cash- AED 15,000 Acc Pay-AED 15,000. Post journal entries into appropriate T-accounts. [3] Determine the ending balance in his Cash and Acc Payable T-account [4] Explain Debit and credit rules for all accounting elements and how we calculate Ending balance for Revenues and for Assets. [5] Is it possible to correct the wrong accounting entry? Advice a new accountant who made a mistake, and he made the same entry twice. (Cash 120 Dr and Acc Receivable 120 Cr.-dis entry was made twice.) (BONUS Question - 4 points- OPTIONAL) 1 - Journal transactions Dr a b Dr Cash Cr Dr Service Rev Cr Dr Supplies Dr Acc Payable C I Dr. Cr Dr Utility expcr Dr Land Cr Dr Cr Next page
determine if items are assets liabilities owners equity revenue
thats all i was given to work with
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started