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What is the difference between single and double entry accounting?

 

Pedro's Pasta purchases a car for $8,800 using a loan from the bank suppler.  Referring to double entry accounting, what are the two effects of action?   Show how you would record the transaction in the ledger.

 

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Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

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Accounting Financial ACC701

In recent years a number of companies have gone into liquidation (been ‘wound up’) because they have not been able to meet their liabilities when they fell due. In Australia, there are some well-publicised examples such as ABC Learning, HIH Insurance amd One.Tel phone companyRequiredUse ...

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HI6025 Accounting Theory And Current Issues

Questions Purpose: This assessment consists of six (6) questions and is designed to assess your level of knowledge of the key topics covered in this unit Question 1 An asset having a cost of $200 000 and accumulated depreciation of $40 000 is revalued to $240 000 at the beginning of the ye ...

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HA3051 Accounting Theory

Assignment requirements You are to respond to the assigned research publication. You should research assigned article and clarify, what you feel is the meaning behind that article, giving consideration to the various theories under the umbrella of the Public   GROUP ASSIGNMENT In ...

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Q

HI6028 Taxation, Theory, Practice & Law

 Dave Solomon is 59 years of age and is planning for his retirement. Following a visit to his financial adviser in March of the current tax year, Dave wants to contribute funds to his personal superannuation fund before 30 June of the current tax year. He has decided to sell the majority of ...

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