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I need the answer for all entries and Essy questions please SECTION TWO: Please write the accounting entries for the following transactions specifically mentioning the
I need the answer for all entries and Essy questions please
SECTION TWO: Please write the accounting entries for the following transactions specifically mentioning the account (s) to be debited and or credited: 1) Sales of fixed assets/property plate and equipment at a profit Dr Cr 2) Collection made against an outstanding invoice from an customer Dr Cr 3) Record outstanding liability for salaries at the year end Dr Cr 4) Entry to record write-back of a creditor which is not going to be settled Dr Cr 5) Recording purchases made during the year Dr Cr a A 1659 & discont DR. Equip DR parziale is four CK Payable 10 ano 6) Reversing accrued expenses at the beginning of the year (recorded as outstanding at the year-end in the previous year) Dr Cr 7) Accounting for interest accrued an a fixed deposit Dr Cr 8) Entry to record transfer made from the net profit for the year to a general reserve Dr Cr Can you please answer the following in brief? What are the primary statements in a set of financial statements? What do you mean by cash basis and accruals basis of accounting? What is the difference between historical cost and fair value? Who appoints the auditors in a companyStep by Step Solution
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