Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

undefined PART 1- IDENTIFY WHICH FINANCIAL STATEMENT ELEMENTS EACH OF THE FOLLOWING WOULD FALL UNDER: (50 PTS) 1. CASH DEPOSITED IN THE BANK 2. MONEY

image text in transcribedundefined

PART 1- IDENTIFY WHICH FINANCIAL STATEMENT ELEMENTS EACH OF THE FOLLOWING WOULD FALL UNDER: (50 PTS) 1. CASH DEPOSITED IN THE BANK 2. MONEY OWING SUPPLIERS 3. SALES FOR THE WEEK 4. MOTOR VEHICLE USED IN TRANSPORTING GOODS TO CUSTOMERS 5. COUNTERS SET UP IN THE SHOP 6. MONEY PUT INTO THE BUSINESS BY OWNER - JJ PUBLIC 7. TRADE LICENSE FEE PAID TO CITY COUNCIL 8. ADS TAKEN OUT IN LOCAL NEWSPAPER 9. RENT PAID TO LANDLORD FOR BUSINESS PREMISE 10. CREDIT PROVIDED TO CUSTOMERS 11. MONEY OWING EMPLOYEES 12. LOAN GOTTEN FROM DFC 13. OFFICE SUPPLIES PURCHASED FROM ANGELUS PRESS 14. WATER COOLER PURCHASED FOR OFFICE 15. COMPUTER PURCHASED FOR OFFICE 16. PETTY CASH TO PURCHASE MISC ELLANEOUS ITEMS 17. SHARES PURCHASED BY SHAREHOLDERS 18. INCOME TAX DEDUCTED FROM EMPLOYEES TO BE PAID INCOME TAX DEPARTMENT 19. SOCIAL SECURITY DEDUCTED FROM EMPLOYEES TO BE PAID SOCIAL SECURITY 20. INTER3EST PAID ON THE BANK LOAN

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Connect For Payroll Accounting 2020

Authors: Jeanette Landin

6th Edition

1260943895, 9781260943894

More Books

Students also viewed these Accounting questions

Question

What did Jung mean by the term archetype? Provide examples.

Answered: 1 week ago

Question

How does interconnectivity change how we live and work?

Answered: 1 week ago