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write a business letter and below is the question where we took information for write a letter please post it as soon as possible we
write a business letter and below is the question where we took information for write a letter
please post it as soon as possible we don't have more information about it
You are a graduate accountant working for Jones & Co Accounting Specialists Pty Ltd. One of their new clients is Miss Anne Chovi, who owns and operates Scooba Dive Inc. Scooba Dive Inc sells goggles, facemasks, wetsuits, scuba tanks and other assorted diving gear. Anne also runs diving courses to promote the beauty of the reef and the continued need to look after the marine environment. Anne provides all the diving equipment to each of the participants in the courses. Miss Chovi has had a meeting with the Managing Partner of Jones & Co today, and you were invited to attend the meeting After the meeting, the Managing Partner tells you she is extremely busy with several clients at the moment and asks you to prepare a letter to Miss Chovi which covers the points listed below. REQUIRED: Please write a letter in your own words addressed to Miss Chovi explaining the following: Miss Chovi is confused by the fact that the Scuba tanks she uses in the diving courses are listed separately in the Trial Balance to those scuba tanks she has in the shop for sale (which are included in the inventory balance). Using the appropriate element definition, apply the facts provided and explain to Miss Chovi what element* both inventory and the separate account Scuba tanks are recorded as. "element = Asset, Liability, Equity, Income or Expense) Scooba Dive Inc. Unadjusted Trial Balance As at 30 June 2020 Credit ($) Debit ($) 4,800 28,800 34,400 1,440 12,800 2,580 3,200 1,580 25,800 46,400 10,000 Cash Accounts Receivable Inventory (1 July 2019) Prepaid Rent Scuba tanks Accumulated Depreciation - Scuba tanks Office & Shop Equipment Accumulated Depreciation - Office and Shop Equipment Accounts Payable A Chovi, Capital (1 July 2019) A Chovi, Drawings Sales Sales Returns & Allowances Discount Allowed Purchases Interest Revenue Electricity Expense Water Expense Sales Staff Wages Local Government Rates Expense Insurance Expense Advertising Expense Rent Expense 166,240 1,800 320 112,160 720 1,720 960 16,000 640 4,800 3,000 6,480 Totals 243,320 243,320Step by Step Solution
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