Description
Instructios – PLEASE READ THEM CAREFULLY
- The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
- Assignments submitted through email will not be accepted.
- Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
- Students must mention question number clearly in their answer.
- Late submission will NOT be accepted.
- Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
- All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
- Submissions without this cover page will NOT be accepted.
• ((( Ensure that there is no similarity percentage )
Assignment Question(s): (5 Marks)
Q1. Describe four of the accounting principles and assumptions and provide an example for each principle and assumption you describe. (2Marks)
Q2. In this course, we covered journal entries.
- What is a journal entry? Why is it important? (1Mark)
- Give two examples of business transactions that require recording a journal entry, and write the journal entry for each transaction. (1Mark)
Q3. What is the difference between accrual basis and cash basis in accounting? Give an example. (1Mark)
