Question 2 (Marks: 5) Complete the table below by indicating if the balance of the account will be a debit or credit and indicate the accounting element to which the account belongs. Remember to indicate current or non-current too if applicable. You are required to redraft the table in your answer: Account name Debit or Credit balance (Dr/Cr) Accounting element: (Assets, Liabilities, Income, Expenses, Proprietary accounts, E.g. Land & Buildings Debit 1 Services Rendered 2 Purchases Returns 3 VAT Control (Refund due) 4 Rates & taxes 5 Interest income Question 3 Q Search Current/Non-current) Non-current Asset 9 W X (Marks: 10) ENG A US 100% Give Feedbac 202
Question 2 (Marks: 5) Complete the table below by indicating if the balance of the account will be a debit or credit and indicate the accounting element to which the account belongs. Remember to indicate current or non-current too if applicable. You are required to redraft the table in your answer: Account name Debit or Credit balance (Dr/Cr) Accounting element: (Assets, Liabilities, Income, Expenses, Proprietary accounts, E.g. Land & Buildings Debit 1 Services Rendered 2 Purchases Returns 3 VAT Control (Refund due) 4 Rates & taxes 5 Interest income Question 3 Q Search Current/Non-current) Non-current Asset 9 W X (Marks: 10) ENG A US 100% Give Feedbac 202
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 2
(Marks: 5)
Complete the table below by indicating if the balance of the account will be a debit or credit and
indicate the accounting element to which the account belongs. Remember to indicate current or
non-current too if applicable.
You are required to redraft the table in your answer:
Account name
Debit or Credit
balance (Dr/Cr)
Accounting element: (Assets, Liabilities,
Income, Expenses, Proprietary accounts,
E.g.
Land & Buildings
Debit
1
Services Rendered
2
Purchases Returns
3
VAT Control
(Refund due)
4
Rates & taxes
5
Interest income
Question 3
Q Search
Current/Non-current)
Non-current Asset
9
W
X
(Marks: 10)
ENG
A
US
100% Give Feedbac
202
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