ACCOUTING PRIN SET LL INCLUSIVE
ACCOUTING PRIN SET LL INCLUSIVE
14th Edition
ISBN: 9781119815327
Author: Weygandt
Publisher: WILEY
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Chapter 2, Problem 2PSA

a.

To determine

Introduction: In accounts, for keeping records of all the business transactions properly, journalizing is being done for the transactions. It helps to track the transactions in chronological order as well as to maintain the records too.

To prepare: Journal entries for the given transactions.

b.

To determine

Introduction: Ledger accounts are used in accounting to record various journal transactions in their particular accounts. Each and every ledger contains the opening balance, closing balance, and transactions of the year either on the credit side or on the debit side.

To prepare: Ledger accounts for the transactions provided.

c.

To determine

Introduction: The trial balance contains the final balances of all the ledger accounts prepared. It has two main columns i.e., the debit balance column that contains the accounts having debit balances, and the credit column that contains the balances of all accounts having credit balances. The total of debit should always be equal to the total of the credit side.

To prepare: The trial balance is on April 30, 2020.

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