Frame and French are in partnership sharing profits and losses in the ratio 3/S: 2/5, respectively. The following is their trial balance as at 30 September 2005. Dr Cr Buildings (cost $210,000) Fixtures at cost Provision för depreciation: Fixtures Debtors Creditors Cash at bank 160,000 8,200 4,200 61,400 26,590 6,130 62,740 Stock at 30 September 2004 Sales Purchases Carriage outwards Discounts allowed 363,111 210,000 3,410 620 3.900 4,760 57,809 1,632 Loan interest: P Prince Office expenses Salaries and wages Bad debts Provision for doubtful debts Loan from P Prince Capitals: Frame French 1,400 65,000 100,000 75,000 4,100 1,200 Current accounts: Frame French Drawings: Frame French 31.800 28,200 640,601 640,601 Stočk, 30 June 2009, $74,210. Expenses to be accrued: Office Expenses $215; Wages $720. Depreciate fixtures 15 per cent on reducing balance basis, buildings $5,000. Reduce provision for doubtful debts to $1,250. Partnership salary: $30,000 to Frame. Not yet entered. Interest on drawings: Frame $900; French $600. Interest on capital account balances at 5 per cent i. ii. ii. iv. V. Vi. vii. Required: Prepare a trading and profit and loss appropriation account for the year ended 30 June 2009, and a balance sheet as at that date.

Which accounts commonly requires both debit and credit entries?

Which of the following items is considered an original source document? Select one: a. accounts receivable b. company expense account c. purchase order d. general ledger

Select the item that best completes each of the descriptions below. a. A collection of accounts and account balances is referred to as a(n) b. A(n). such as a bank statement, is objective evidence of transactions and their amounts. c. Increases and decreases in a specific asset, liability, equity, revenue, or expense are recorded in a(n) d. A(n) _ асcount has a complete record of every transactions recorded. journal e. A list of all ledger accounts and identification numbers, not including account balances, is called a(n). of accounts.

How does the data flow from the transaction (e.g. MRI scan) to financial statements? Use the following key terms in your response: transaction, journal entry, general ledger, financial statement.

Define the followings? a. Real Account. b. Temporary Account.

How do I identify a transaction and whether it is debited or credited?

How does receiving a payment from a customer on account affect the accounting equation?

The type of account with a normal credit balance is: Group of answer choices an asset drawing a revenue an expense

how do debits and credits work?