ACCT205 Phase 1 db - ACCT 205 phase 1 db (Graded A+) - 36466

Solution Posted by
arsalanahmed

arsalanahmed

Rating : (80)A
Solution Detail
Price: $3.00
  • From: Business,
  • Posted on: Thu 12 Dec, 2013
  • Request id: None
  • Purchased: 0 time(s)
  • Average Rating: No rating
Request Description

Your father runs a small auto body shop. He has decided to computerize his records and has asked you to explain the basics of accounting to him so that he can enter the data into his accounting software.

·         Explain to him the rules of debits and credits for the balance sheet and income statement.

·         Provide examples from the manufacturing industry of:

o    a journal entry that would be recorded that impacts the balance sheet.

o    a journal entry that would be recorded affecting the income statement.

Please provide the assumptions behind the transactions and the full journal entries

Solution Description

A++++++++++

Attachments
answer DB 1.docx
answer DB 1.doc...