[zukiegeneral]

create a prepayment account and Debit that account…

[zukiegeneral]

the negative balance is due to a expense paid in advance ? well think u have to note that to who is gonna prepare the financial statement … create a prepayment account and ..Debit the expense prepayment as its a asset

[zukiegeneral]

Yes sure I’m ready long time

[zukiegeneral]

Depreciation for the asset is calculated when it was purchase and not for the calendar year. And it’s not depreciated in the year it is expected to sold

[zukiegeneral]

Did the question asked for what was the interest to be paid for 1/2 the year ? Well that $8750 would have being for 6 mths. 7% of 250,000=17500 divide by 2=8750

[zukiegeneral]

The employee get employed they don’t choose to be employed ..

[zukiegeneral]

Credit sales only record in sales day book but all sale accounted for in the ledger

[zukiegeneral]

Dr. Computer system $1800
Cr.inventory $1650..
You never made no revenue u didn’t. Made a purchase u just exchanged assets so u just follow double entry and accounting equation principles

[zukiegeneral]

That’s. Your answer or the transaction entires that was given ? Seems more to that question..u cant post ur answer without showing the full question and what to do with the question

[zukiegeneral]

What was refunded? Let me see the entire question

[zukiegeneral]

hi im lost what u are saying ..can u help me with how to do a basic cash flow statement

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