T3 - Solutions to Additional Q-ns.docVIP

Solutions Recording – Journals ledgers Tutorial 3 - Classwork Question 1 Solution Bobby Fischer runs a motel in Melbourne. All the accounts listed in Bobby’s general ledger are given below alphabetically: Prepare a chart of accounts – classify each account into A, L, OE, I, or E. 1 Accounts payable = L, accounts receivable = A, advertising = E, bank fees and charges = E, bedding and linen = A, cash at bank = A, cleaning costs = E, deposits on room bookings = L, drawings = OE, electricity = E, expenses payable = L, fees revenue = I, furniture and fittings = A, gardening