Manage Small Business Finance Accounting Assignment Help

Assignment Task

Task

Q- Prepare and implement a financial plan including budgets and cash flow forecasts?

Using the table provided, for each of the following transactions; 
 

• Name the ledger accounts affected, and for each account; state the type of account (A, L, P, R or E)
• State whether the account increases or decreases as a result of the transaction (use  Inc or Dec)
• Enter the appropriate amounts in the debit (DR) and credit (CR) columns

 
(a) You buy some plant and equipment from ABC Ltd. for $1400 on credit with payment     due within 30 days.
 
(b) You are paying the telephone account ($87).
 
(c)  You buy a motor vehicle for $30,000 with a cash payment of ten per cent ($3000) and     the balance of  $27,000 through NRMA Finance Ltd. 
    (There are three accounts affected here).
 
(d) The bank charges you a fee for services it provides - $15.
 
(e)  You are pay $500 off the loan from NRMA Finance Ltd.
 
(f) You pay for your builder's licence with a cheque for $550.
 
(g) You pay your account with Hardware and General Building Supplies and receive a five     per cent discount. The total account owing was $2500?  
 

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