Company Accounting - Question and Answer

Running head: COMPANY ACCOUNTING
Company Accounting
Name of the Student:
Name of the University:
Author’s Note:
Course ID:

COMPANY ACCOUNTING1
Table of Contents
Question 1:.................................................................................................................................2
Question 2:.................................................................................................................................7
Requirement a:.......................................................................................................................7
Requirement b:.......................................................................................................................8
Bibliography:..............................................................................................................................9

COMPANY ACCOUNTING2
Question 1:
Date Particulars Debit (in $) Credit (in $)
01/01/2018 Machine A Account.................................Dr
Machine B Account..................................Dr
To Cash Account
(Purchase of Machine A and Machine B for
cash)
4,000
10,000
14,000
30/06/2018 Depreciation Account..............................Dr
To Machine A Account
To Machine B Account
(To record depreciation charge)
665
190
475
30/06/2018 Profit and Loss Account...........................Dr
To Depreciation Account
(To record accounting for depreciation)
665
665
30/06/2019 Depreciation Account..............................Dr
To Machine A Account
To Machine B Account
(To record depreciation charge)
1,330
380
950
30/06/2019 Profit and Loss Account...........................Dr
To Depreciation Account
(To record accounting for depreciation)
1,330
1,330
30/06/2019 Loss on Revaluation Account...................Dr
To Machine Account
(To record loss accounted on revaluation)
230
230