MGT101 Financial Accounting GDB No.2 Fall Semester 2012

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MGT101 Financial Accounting GDB No.1 Fall Semester 2012


MGT101 - Financial Accounting Graded Discussion Board
Total Marks 2
Starting Date Monday, November 26, 2012
Closing Date Tuesday, November 27, 2012
Status Open
Question/Description

Semester “Fall 2012”

“Financial Accounting-MGT101”

Concept to be Tested: Recording Journal Entries

Discussion Question

From the following journal entries, you are required to identify the mistake therein and also support your answer with logical reason.

1. Machinery sold for Rs. 10,000 has been recorded as:

Cash A/C 10,000

Sales A/C 10,000

2. Furniture Showroom purchased furniture costing Rs. 8,000 recorded as:

Furniture A/C 8,000

Cash A/C 8,000


Note: Your comments should be according to requirement and not be more than 300 words.

Instructions:

Read the following instructions before giving your comments on GDB:

1.Use the font style “Times New Roman” and font size “12”.
2.Your answer should be relevant to the topic i.e. clear and concise.
3.Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
4. Books, websites and other reading material may be consulted before posting your comments but copying or reproducing the text from books, websites and other reading materials is strictly prohibited. Such comments will be marked as Zero (0).

5. Obnoxious or ignoble answer should be strictly avoided.

v For detailed instructions, you are required to view the announcement related to GDB No. 2