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Journals, ledger accounts and trail ba

   

Added on  2020-06-06

7 Pages1210 Words81 Views
Accounting

Table of ContentsINTRODUCTION...........................................................................................................................1Question 1:..................................................................................................................................1Question 2...................................................................................................................................2Question 3...................................................................................................................................5Question 4. .................................................................................................................................5Question 5...................................................................................................................................6Question 6...................................................................................................................................8Question 7...................................................................................................................................9Question 8...................................................................................................................................9CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................10

INTRODUCTIONAccounting is a systematic recording of financial transaction into books of accounts. It isan important part of company by which various crucial decision are taken (Bebbington, Unermanand O'Dwyer, 2014). This project report consists of journals, ledger accounts and trail balance orsummarise balance sheets.Question 1:Journal entries: DateParticularsL.FDebitCredita.Cash A/cTruck A/cTo Capital A/c...(Being Quick pick delivery services are started itsoperations)$6000 $11,000 $17,000b.Supplies A/c..To Cash A/c...( cash paid to suppliers)$300$300c.Prepaid Insurances A/c..To cash A/c...(Insurance paid in advance)$700$700d.Accounts receivables A/c..cash A/c.To service revenue A/c..(Being delivery services provided to customers)$700$800$1500e.Accounts receivables A/c To Service revenue A/c(Service provided to customers)$1500$1500f.Salary A/c...To Cash A/c...(Salary paid to the employee)$700$700g.Cash A/c..To Service revenue A/c$12000$120001

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