VCE Stuff > VCE Accounting
Last Year's Exam
sheepz:
--- Quote from: elaine98 on June 08, 2008, 03:50:11 pm ---
i don't get why the balance has to be recorded at the end of period date. i'm confused
[/quote
the ledger account only has dates that are the start and end of the reporting period... so since this occurred during the middle of the reporting period, we will only record it at the end (june 30). hopefully thats clear enough lol
n yeah ben those answers look good!
--- End quote ---
elaine:
--- Quote from: sheepz on June 08, 2008, 04:40:09 pm ---
--- Quote from: elaine98 on June 08, 2008, 03:50:11 pm ---
i don't get why the balance has to be recorded at the end of period date. i'm confused
[/quote
the ledger account only has dates that are the start and end of the reporting period... so since this occurred during the middle of the reporting period, we will only record it at the end (june 30). hopefully thats clear enough lol
n yeah ben those answers look good!
--- End quote ---
ohh yeap get it now, thanks :)
--- End quote ---
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