FNS40217 Certificate IV in Accounting and Bookkeeping - Module 1.1 assignment

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Question. 5

  1. Required: For the following transactions, complete the Transaction Analysis Chart.
  2. Prepare General Journal entries for the transactions.
  3. Consistent with industry codes of practice Ledger Accounts should include ‘DR’ or ‘CR’ to each running Balance for each ledger account.
  4. Prepare a Trial Balance as at 10 June.
  5. If a trial balance does not balance, what steps would you take to ensure that it balances? If the trial balance does balance, does that mean it is fully correct, and why?
  6. Describe the concept of double entry accounting.

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