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28 Sep 2019
Your father runs a small auto body shop. He has decided tocomputerize his records and has asked you to explain the basics ofaccounting to him so that he can enter the data into his accountingsoftware.
Explain to him the rules of debits and credits for the balancesheet and income statement.
Provide examples from the manufacturing industry of:
a journal entry that would be recorded that impacts the balancesheet.
a journal entry that would be recorded affecting the incomestatement.
Please provide the assumptions behind the transactions and the fulljournal entries.
Your father runs a small auto body shop. He has decided tocomputerize his records and has asked you to explain the basics ofaccounting to him so that he can enter the data into his accountingsoftware.
Explain to him the rules of debits and credits for the balancesheet and income statement.
Provide examples from the manufacturing industry of:
a journal entry that would be recorded that impacts the balancesheet.
a journal entry that would be recorded affecting the incomestatement.
Please provide the assumptions behind the transactions and the fulljournal entries.
Explain to him the rules of debits and credits for the balancesheet and income statement.
Provide examples from the manufacturing industry of:
a journal entry that would be recorded that impacts the balancesheet.
a journal entry that would be recorded affecting the incomestatement.
Please provide the assumptions behind the transactions and the fulljournal entries.
Casey DurganLv2
28 Sep 2019