Question: Download 1. Identify the errors, if any, in the journal entries for the given transactions. If there is no error writen error 2 marks for




Download 1. Identify the errors, if any, in the journal entries for the given transactions. If there is no error writen error 2 marks for the each entry a) Started business with capital of AID 100.000 Capital 900.000 100,000 Capital invested Space for the correct entry Paid salaries to Mr AB AED 5.000 Salaries All's account Salary paid to AS MacBook Pro op - Downlod Pago 0 - 200 b) Paid salaries to Mr Ali AED 5,000 Salaries All's account Salary paid to A c) Received Fees from its AED 10.000 Cash Client MacBook Pro G H I J K L Page os 0 - 200 d) Received a loan of AED 50,000 from bank Loan account 2. You are given the following Journal entries of a firm for a period. Prepare cash account. 1 marks each 1/1/16 Cash 60,000 Bank 60,000 MacBook Pro Dead Page 5 0 - 200 2. You are given the following journal entries of a firm for a period. Prepare cash account. 1 marks each 1/1/16 Cash Cash withdrawn from bank 3/1/16 Reht Cash 9/1/16 Land 20.000 20,000 Land purchased MacBook Pro a bitchure.com Pago 5 0 - 3. All questions carries 1 marks each a) Revenue - expenses b) . is the financial tool that focuses on the present condition of a business. c) Initial cost-residual values Cost flow is in the order in which the costs were incurred. OD 100 - $ 81999 MacBook Pro ilmu OP
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
