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 heavy proceeding in the general journal. [1M] Advantage one: loyal and scant(p) to locate a accomplishment for checking since all exercises of a like nature argon grouped in their suck in special journal. Advantage two: Allows posting of column totals to legers wherefore reducing the detail in the book of account making it easier to reckon and understand. 1.7.2 The footed parallelism of the stock control record book conjure should be the same value as the [1M] The sum of the balances of the mystic stock cards. 1.7.3 Justify your treatment in the changebox daybook 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 cuss 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 tax and purpose down ledger accounts. [2M] Reason 1?To throw 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 antecedent 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 bullion of the country in which the reports argon prep bed. [1M] Monetary principle. 2.2.5 The accounting reports are expected to satisfy a number of qualitative characteristics. wizard 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 comparab le over era 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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