Miss how are you going to tell us to comment the answers for 27 and 30 and you'll tell us of its right when you're only responding to the comments that says "good video", etc????? It has been 5 MONTHS NOW
@@IceCold_Gamingcan’t be c because contra entry requires debit and credit sides of the cash book at the time, or something like that gl in your exam btw
@@IceCold_Gaming A contra entry is an entry that affects both cash and bank at the same time and the law for accounting is every debit must have an equal and corresponding credit hence debiting cash and crediting bank
Is number 11 B? Don't you only record the increase or decrease in the PFBD after the year of calculation? It was $700 , there was a decrease of $200. DR The PFBD account with $200
I do agree with you. According to the accounting convention of materiality, when items are too small to be updated as spent, then the full amount should be debited in the profit and loss account as expense.
