Identify the Accounting Principle - Accounting Assignment Help

Assignment Task : 

1.1.1 Calculate the amount of rent that will be regarded as an expense for the month of January 2019. 

1.1.2 Identify the accounting principle you applied in 1.1.1 above. 

1.2 Identify any two (2) examples of current liabilities. 

Question 2  

Use the accounting equation of "Assets = Owner's Equity + Liabilities" and the accounting system of double-entry and debits and credits for the following transactions. 

Indicate for each transaction below (redrawing the example table): 

. What the names of the accounts concerned are; 

• Whether the amount in question has a + or - effect on the Assets, Owners' 

equity or Liabilities; and Whether it has a debit or credit effect from an accounting point of view on the amounts concerned. 

Question 3 

The following information is available from MDP Ltd.: 

Additional information: 

• Stock on hand on the 31st of March 2020 was: 
• Completed products: 15 000 units
• MDP Ltd. strives to keep its stock levels at 50% of the next month's sales needs. 

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