Assignment Principles I-for ECON and PADM-2019-20.docx -...

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Addis AbabaUniversityCollege of Business and EconomicsDepartment of Accounting and FinancePrinciples of Accounting IAssignment- Discussion questions and problemsDate Given: January 16, 2020Submission Date: within 7 days1.Discussion type itemsa.Describe different classifications of business organizations based on i) the nature of theiroperation ii) based on forms of ownershipb.What is the role of accounting? Explain from the perspective of the use of information fordifferent actors in the economy2.Given below is a list of selected transactions performed by John Décor during the month ofSeptember 2002, the first month of operation.a) Record the transactions in General Journalb) Post each entry to the perspective account.Use the four – column account.c) Prepare a trial balanced) Prepare statement of profit or loss, statement of financial position, and statement of owner’s equity
1
-28Received cash from customers on account birr 1,420-30Paid salaries to employees Birr 950-30. The owner withdrew Birr 1, 750 for personal use.

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Term
Winter
Professor
NoProfessor
Tags
Depreciation, Double entry bookkeeping system, 1977

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