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ACC1AIS Accounting And Information Systems

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Question:

In this task record transactions for the company, you may need to create new accounts, inventory items, suppliers, and customers as required for the transactions. For detailed help refer to the Xero helpsheets.

Your main task is to prepare the month end accounting entries. The best way to approach this task is to run a Trial Balance after you have input all the transactions for the month and use that report to determine what accrual accounting adjustments are required.

You should examine each account line in the Trial Balance and decide if the balance currently shown is correct under accrual accounting principles. For any adjustments required you will need to prepare and input a general journal entry. If you depreciate any assets you should use the straight line depreciation method.

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My Assignment Help (2020) Accounting And Information Systems [Online]. Available from: https://myassignmenthelp.com/free-samples/acc1ais-accounting-and-information-systems/financial-position-of-lam-minh-tuan-le.html
[Accessed 26 July 2021].

My Assignment Help. 'Accounting And Information Systems' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/acc1ais-accounting-and-information-systems/financial-position-of-lam-minh-tuan-le.html> accessed 26 July 2021.

My Assignment Help. Accounting And Information Systems [Internet]. My Assignment Help. 2020 [cited 26 July 2021]. Available from: https://myassignmenthelp.com/free-samples/acc1ais-accounting-and-information-systems/financial-position-of-lam-minh-tuan-le.html.


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