Q1. a What is an account 2 marks? b Mention and explain three classes of account...

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Q1. a What is an account 2 marks? b Mention and explain three classes of account 6 marks c State the double entry rule of accounting 2 marks d. Differentiate between fixed asset and current asset and give an exalmple h each case 4 marks 2 a. copy and complete the following table Asset Capital Liability 300,000 34,000 b. 130,000 56,000 350,000 ?. 70,000 C. 170,000 400,000 300,000 100,000 36,000 27,000 38,000 24,0000 14 marks Show workings 5 marks b. Mention any (five) 5 subsidinry books and their uses Q1. a What is an account 2 marks? b Mention and explain three classes of account 6 marks c State the double entry rule of accounting 2 marks d. Differentiate between fixed asset and current asset and give an exalmple h each case 4 marks 2 a. copy and complete the following table Asset Capital Liability 300,000 34,000 b. 130,000 56,000 350,000 ?. 70,000 C. 170,000 400,000 300,000 100,000 36,000 27,000 38,000 24,0000 14 marks Show workings 5 marks b. Mention any (five) 5 subsidinry books and their uses

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1 a An account is a system of dealings expressed in words and figures according to accounting form b I Real Account ii Personal Account III Nominal Ac... View the full answer