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Hi can you please provide the answers to question one and two as i am struggling to understand them


QUESTION 2: Conoeflual Framework (10 marks) Dr. Ginger Vitus (who is also a client of Copeland 8; Prider Accounting Services Pty Ltd) has written to the
Managing Partner (Scott Copeland), because she is confused about some of the transactions that were
recorded for October 2019 (refer to Question 1 Part 2). As part of your ongoing professional development, the Managing Partner (Scott Copeland} has asked you to
prepare a formal business letter addressed to him (n_ot the client}, in which you will respond to the ciient’s questions. If Mr. Copeland is satisfied with your explanations, your letter will then be used to respond to the
client (Dr. Vitus). Required:
On the following page write a letter in your own words (using the Harvard referencing system where appropriate) addressed to the Managing Partner of your accounting firm. In your letter, you need to
respond to the following questions. which relate to the journal entries provided in Question 1 Part 2: 1. Explain, with reference to the appropriate accounting definition, which accounting element" was
debited on 5 October 2019 and explain how this definition was applied when recording the transaction. *{eiement = Asset, Liability, Equity income or Expense)
(4 marks) 2. Identify the accounting assumption that is relevant to the treatment of the transaction which
occurred on 11 October 2019 and explain in your own words how this assumption was applied when
recording the transaction. (3 marks)

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