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Karolina [17]
3 years ago
5

Your Uncle owns a business as a sole proprietor in Accra. In a recent workshop that he attended, the participants were advised t

o prepare financial statements to enable them monitor their business performance and financial position. Your Uncle does not understand financial statements and have asked you for explanation.
REQUIRED: Write a letter to your Uncle explaining financial statements and with reference to the definition of financial accounting explain what he should do before he can prepare financial statements:

Note: Your answer should not be more than one page(typed) or 2 pages( hand written)​
Business
1 answer:
Tomtit [17]3 years ago
6 0

Answer:

do the challnge in brainly it gives u points !!!!

Explanation:

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Zar company paid employee wages on and through friday,january,26 and the next playroll will be paid in february. Emploees work 5
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Debit to Salaries Expense $2,700; Credit to Salaries Payable $2,700

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In accounting, we have to recognize all expenses even though we haven't paid it yet. This is one of those instances.

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So to complete the adjusting journal entry:

(Debit)        Salaries Expense        $2,700

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When the economy is strong, people make more money, and income tax revenue automatically increases.

On the contrary, when the economy is weak, or in recession, people earn less, and more of them are unemployed. Unemployment benefits therefore increase accordingly.

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How can creating a customer profile help entrepreneurs identify their target market
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