FINANCIAL ACCOUNTING ASSIGNMENT HELP

PRIN OF FINANCIAL ACCOUNTING 08-10-2021 FEEDBACK

You continue to make progress and have some 'minor' adjustments to make.  However, the last ten transactions continue not to be included in your submissions.

Looking forward to your next submission.

Thanks,

1) Applies the most relevant accounting principle for each business transaction. NOT MASTERED!!!!!

8/10 $5000 Contribution/ Parents - Principle is incorrect. This information needs to be released/ shared based upon this Principle. Computer - Principle is incorrect. (Refer to Rent as it was correct & similar Principle) 2months Rent - Principle is incorrect. (Refer to Rent as it was correct & similar Principle) $3k Revenue - missing 2nd account; cash has not been received - yet - so what account on the Balance Sheet increased? You are still missing the last 10 transactions.

2) Explains rationale for applying each accounting principle. NOT MASTERED!!!!!

Revisions will be needed once adjustments are made as well as for the missing scenarios.

3) Decides to include or omit each business transaction. NOT MASTERED!!!!!

Revisions will be needed once adjustments are made as well as for the missing scenarios.

4) Determines the appropriate account type for each business transaction. NOT MASTERED!!!!!!

Revisions will be needed once adjustments are made as well as for the missing scenarios.

5) Determines whether each account type results in an increase or decrease of the account. NOT MASTERED!!!!!

Revisions will be needed once adjustments are made as well as for the missing scenarios.