Solve the following (Refer to the attached images)
- Exercise 1-9A on page 40
- Exercise 1-10A on page 40
- Exercise 1-4A on page 38
- Exercise 1-7A on page 39
- Exercise 1-6A on page 39
- Exercise 1-8A on page 39
- Answer the following
- Part 2
- Question 1: What is the accounting equation? Why is this important to the practice of accounting? Please provide an example of how the accounting equation works with recording transactions within a business.
- Question 2: Is there a difference between bookkeeping and accounting? Discuss.
- Question 3: Accounting reports past performance. How can this be useful when planning future operations?