Question: please anwser question 2 based on question 1 Question 2 Continue with ABC Company in Question 1 above. Give at least 10 economic transactions in

 please anwser question 2 based on question 1 Question 2 Continue

please anwser question 2 based on question 1

with ABC Company in Question 1 above. Give at least 10 economic

Question 2 Continue with ABC Company in Question 1 above. Give at least 10 economic transactions in Feb/2020 (reasonable data) including following accounts: Unearned Service revenue, Accumulated depreciation, prepaid expense, utilities expense, Advance payment, receive in advance. Prepare a tabular analysis which shows the effects of these transactions on the expanded accounting equation (Included adjusting entries). Part C: Explain the difference between net income and net cash flow. Question 1: ABC Jsc (applying perpetual inventory system, accrual basis, historical cost accounting principle) had the following balances as at 1st , Jan, 2020. (Currency unit: $, monthly accounting period). Cash 4.000 Accounts Payable X2 Accounts Receivable 1.500 Salary payable 1.200 150 Note Payable 3.000 Supplies Merchandise X1 Common stock 13.000 (Merchandise K, Quantity : 300pcs) 12.050 Retained earnings 2.500 Tangible Fix assets Accumulated depreciation (600) The following economic transactions incurred in January, 2020: 1. Purchased merchandise K on credit, quantity: 150pcs, total amount 1.800 2. Freight in of merchandise K: 30, paid by cash 3. Issued merchandise K for sale on credit. Quantity: 380pcs. Selling price: 4.200. 4. Paid on account: 750 5. Prepaid advertising expense for 3 months (January, February, March) with amount of 360. 6. Issued common stock and received cash: 500 7. Collected in advance for rent service to be performed from 1/1/2020 to 30/4/2020, amount: X3 8. Supplies on hand as at 31st, Jan, 2020: 50 9. Accrued salary expense: 350. 10. Useful life of Tangible Fix Asset is 10 years. Residual value of 50 (Straight line method is applied)

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