SECTION$-$B

Q$-1-$ Explain the difference between a 'debit' and a 'credit' in accounting terms. How do these concepts apply to different types of accounts, such as assets, liabilities, and equity?

$(5$ marks$)$

Q$-2-$Alicia Thomson started a company on April $1,2024.$ The company prepares quarterly financial statements. The trial balance amounts as on June $30$ is mentioned below:

$\backslash$table$[[$Alicia Thomson Movers Pvt$.$ Ltd$.],[$Trial Balance as on June $30,2023],[$Particulars$,$Debit,Particulars,Credit$],[$Cash$,6700,\backslash$table$[[$Accumulated Depreciation$-],[$Equipment$]],850],[$Accounts Receivable,$600,$Notes Payable,$5000],[$Prepaid Rent,$900,,],[$Supplies$,1000,$Accounts Payable,$1\mathrm{.}10],[$Equipment$,15000,$Salaries Payable,$400],[$A Thomson Drawings,$600,$Interest Payable,$50],[$Salaries Exnense,$9400,$Unearned Revenue,$500]]$