Principles of Accounting
Accounting is the language of business.
journals and ledgers
Describe the purpose of a trial balance and identify three posting errors that would not be revealed by an 'out-of-balance' trial balance.
Different user group are interested in an entit's financial statement for different reasons.identify any four potential user group and briefly describe the information which they May be interested in
Dec 25 purchased beverages for the catering party,Dec 26 received 50,000 worth of catering 20% downpayment and the balance in 20 days
Describe the differences between quantitative and qualitative data in relation to budgeting. What are some advantages and disadvantages of each approach?
What three steps should be undertaken when identifying feasibility by comparing projections with market growth and development?
When entering transactions into cash and credit journal systems, what entries need to take place?
What are the differences between manual and computerized systems when entering final transactions?
Verification checks assist by finding inconsistencies in the data. What other checks can a user make to review the accuracy of data input? 80–100 words
A and B are partners in a firm sharing profits in the ratio of 2 : 1. C joins the firm.
A surrenders 1/4th of his share and B 1/5th of his share in favour of C. Find the new profit sharing ratio.
Shell ltd is trying to decide whether or not to drill for oil on a particular site in North Eastern Kenya. The Chief Engineer has assessed the probabilities that there will be oil as follow, based on past expe ...
Following information is extracted from the books of XYZ Traders on 31st December
Particulars Rs. Particulars Rs.
Salesman salary 60,500 Sales revenue 121,000
Plant & Machinery 750,000 Land & Building 840 ...
You have a credit card that charges an APR of 27%. You make a variable amount of charges each month (see below) but you make the same payment amount each month: $250. If you start with a balance of $0 and borro ...
Explain when and why the cost of an assets,such as the computer ,for initial measurement must exclude VAT.
Xiaolin is an employee of Carlson Ltd. Throughout the tax year 2016/17, Carlson Ltd
provided Xiaolin with a mobile telephone that cost £200, private medical insurance at a
cost to Carlson Ltd of £3,000 per ye ...
List seven organisational policies and procedures that would relate to the preparation of tax documentation for individual taxpayers
Describe the different types of financial options that are available for different clients related to the provision of business performance information
Can you explain accrural and deferral account for me clearly?
An individual who is not an existing client approaches you in early November stating that the income tax return for the financial year has not been prepared or lodged. The individual is aware that tax agents ca ...