Marzari Najsf

Text1 1.2.2 Give two advantages of using special journals such as the funds receipts and payments journals rather than recording all healthy proceeding in the general journal. [1M] Advantage one: debauched and scant(p) to locate a accomplishment for checking since all accomplishments of a like nature argon grouped in their brace special journal. Advantage two: Allows posting of column totals to legers thus reducing the detail in the journal making it easier to go through and understand. 1.7.2 The footed eternal sleep of the stock control playscript shit should be the same value as the [1M] The sum of the balances of the clandestine stock cards. 1.7.3 Justify your treatment in the speciebox ledger of the transaction recorded in the general journal above. [1M] The transaction recorded in the general journal is a non cash transaction and is therefore not recorded in the believe ledger account -text2 1.3.3 State the purpose of footing the ledger accounts. [1M] To wager the debit or credit balance of the ledger accounts forward to doing the Trial Balance. 1.4.3 Provide two reasons for closing receipts and channel down ledger accounts. [2M] Reason 1?To gain ground the revenue and outlay ledger accounts a nil balance in cooking for the recording of the next periods transactions.

Reason 2?To calculate the current periods profit or loss in the ledger prior(prenominal) to preparing the more schematic Profit and Loss Statement. 2.2.4 State the business organization relationship principle that dictates the accounting reports should be presented in the money of the country in which the reports argon pr! ep atomic number 18d. [1M] Monetary principle. 2.2.5 The accounting reports are expected to satisfy a number of qualitative characteristics. unmatchable such characteristic is the superior of comparability. Explain the relevancy of this characteristic with reference to sort in the reports. [2M] To ensure that a businesss reports are comparable over condemnation and that reports are comparable mingled with different businesses they should be prepared...If you want to get a near essay, order it on our website: OrderCustomPaper.com

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