Homework Answers
| Qn. No. | Particulars | Debit | Credit | |
| 1 | Rent Receivable | 8,550.00 | ||
| Prepaid Rent (Income Received in Advance) | 8,550.00 | |||
| 2A | Sales Revenue | 1,000.00 | ||
| Accounts Receivable | 1,000.00 | |||
| 2B | Bad Debts | 3,438.00 | ||
| Accounts Receivable | 3,438.00 | |||
| 3 | Inventory | 22,600.00 | ||
| Retained Earnings (P/L Account) | 22,600.00 | |||
| 4 | Insurance Exp | 679.00 | ||
| Prepaid Insurance | 679.00 | |||
| 5 | Depreciation Exp | 9,600.00 | ||
| Accumulated Depreciation - Equipments | 9,600.00 | |||
| 6A | Interest Exp | 3,000.00 | ||
| Bank | 3,000.00 | |||
| 6B | Interest Exp | 1,500.00 | ||
| Interest Payable | 1,500.00 | |||
| 7 | Interest Accrued | 750.00 | ||
| Interest Recevable | 750.00 | |||
| 8 | Rent Expenses | 6,531.00 | ||
| Prepaid Rent | 6,531.00 | |||
| 9 | No Entry Required | |||
| 10 | Retained Earnings (Dimination in Value of Investment) | 5,350.00 | ||
| FV-OCI Investment | 5,350.00 |
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2.
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