Question

Sohanlal is a gardener. He is paid ₹160 daily, find how much money will he

Answer 1

Answer:

Give some examples of source documents.

➢  Define an account. What are the two  forms of account posting illustrated in the chapter?➢  What is meant by the term double-entry procedure, or duality?

➢  Describe how you would determine the balance of a T-account.

➢  Define debit and credit.

➢  Do you think this double entry accounting system makes sense? Can you conceive of other possible methods for recording changes in accounts?

➢  Which of the steps in the accounting cycle are performed throughout the accounting period?

➢  What is the purpose of the Dividends account and how is it increased?