A.C 4.1 Explain the double entry system of accounting. (200 Words) • Define the terms of accounting equation. • Give examples for each using the selected business organization. A.C.4.2
Describe the meaning of a debit and a credit entry (300 Words) •
Use T accounts as templates to show your knowledge about double entry system. (Increase and decrease of capital, assets and liabilities can be shown using T accounts) •
Explain how financial records are maintained by the selected business organization. A.C 4.3 Record transactions in the ledger for the question given below. 300 Words) • Use an Excel sheet to make T accounts and copy them to the business report.
