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 intelligent proceeding in the general journal. [1M] Advantage one: vigorous and scant(p) to locate a accomplishment for checking since all transactions of a like nature argon grouped in their check special journal. Advantage two: Allows posting of column totals to legers therefrom reducing the detail in the record book making it easier to envision and understand. 1.7.2 The footed fit of the stock control record book ca-ca should be the same value as the [1M] The sum of the balances of the one-on-one stock cards. 1.7.3 Justify your treatment in the changebox book 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 pious platitude ledger account -text2 1.3.3 State the purpose of footing the ledger accou nts.[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 gross and consider down ledger accounts. [2M] Reason 1?To suck 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 earlier to preparing the more schematic Profit and Loss Statement. 2.2.4 State the calling relationship principle that dictates the accounting reports should be presented in the up-to-dateness of the country in whi ch the reports argon prep bed. [1M] ! Monetary principle. 2.2.5 The accounting reports are expected to satisfy a number of qualitative characteristics. integrity such characteristic is the superior of comparability. Explain the relevance of this characteristic with reference to sort in the reports. [2M] To ensure that a businesss reports are comparable over clock time 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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