edf40wrjww2CF_PaperMaster:Desc
Introduction
For this assignment I have interview the Star bookstore owner- Ms Wang Xiuli and this bookshop provide the service of sale and rent books. I first time visited the place of business at 9th June.
I print the questionnaire and after she see whole the question, she described the accounting situation of this bookshop, and she also explain why this company like this. And I record all of hand by hand.
A) What accounting information and records does the business have?
According to Ms Wang, this business has cash book, accounts payable, accounts receivable, journals, stock record, sales book, trail balance, profit and loss account, balance sheet, accounts of limited company, and as accounting information. Then the employee keeps receipts, invoice, and bills as source documents.
CASH BOOK
It records the cash receipt and cash spend of the star bookstore everyday
ACCOUNTS PAYABLE
The accounts used to record all the paying offal the invoices for goods and services that are purchase by the firm, for example the star bookstore purchase the magazines, or cartoon books.
ACCOUNTS RECIEVEABLE
It means this is a record that is kept for what is suppose to be receive by the company for example revenue that is suppose to be receive by the company.
JURNALS
That recorded the date of transaction, the accounts to be debited and credited, the amounts of the debit and credit entries, and an explanation of each transaction.
STOCK RECORDS
keeps in tract with the amount of stock that is coming in to the warehouse and how much is going out of the firm warehouse so that at any given time there wont accru ...