Prepare journal entries to record transactions Essay

Prepare journal entries to record transactions - Essay Example For the buyer, the cash balance will decrease or reduce by the amount he used to purchase that item, and on the other handing he will have acquired a loaf of bread. On the side of the seller, his amount of cash will increase by the price of the loaf of bread and while his stock of bread will reduce consequently (Price, Haddock, & Farina, 2012). Accounting tries to record both two events of the transaction, on the financial statement of the business. Without the concept of double entry and maintenance of these accounting records, the records of the business or the company, will just show a partial report on the business or the company state of affairs (Stickney, 2010). Generally, the resulting effect of two entries is known as debit and credits. Accounting major principle is that for every debit entry, it must be followed by the subsequent credit entry. The debit entries are the ones that result from the increase in assets, and expenses and those which lead to the decrease in liabilities, equities and incomes. On the other hand, credit entries are the ones that lead to the decrease in expenses and assets, and those that leads to the increase in equity liabilities and income. A series of these entries must lead to the balancing of respective accounts. These accounts may be posted to one general account that has columns of description, folio, debit side and credit side. After the entry of each transaction, a brief explanation is made. This description must accurately explain the traction which took place so that any person who sees it for the first time will be able to understand what happens on the respective entries. Each and every journal entered can also be matched with the supportive document, which is relevant to the entry made. These supportive documents could be a receipt or check stub by the use of folio or code number. These folio number or code, cross reference between different documents. Large business

Writer's choice Research Paper Example | Topics and Well Written Essays - 2000 words

Writer's choice - Research Paper Example Ibsen’s knowledge of humanity is nowhere more obvious than in his portrayal of women. He amazes one by his painful introspection; he seems to know them better than they know themselves. Indeed, if one may say so of an eminently virile man, there is a curious admixture of the woman in his nature (Jacobus 131). As the play commences Nora is projected as a typically naive, openhearted woman basking in her husband’s love and affection where she continuously gives in to her husband’s views and opinions and curbs the desire to voice her own. As it is apparent from their mild argument over spending and loans when Torvald says, â€Å"A home that depends on loans and debts is not beautiful because it is not free† Nora finally acquiesces and says, â€Å"Everything as you wish, Torvald† (Act 1). The docility with which Nora accepts her husband’s point of view initially projects her to be a victim of a woman living a voiceless life. From a structural point of view Nora’s character develops over the course of the play as it is apparent from her first conversation with Mrs. Linde that initially she is projected to be childlike in her understanding of the world. Over the course of the play her character will develop in terms of education, maturation, and the shedding of her supposed naivetà ©. While Nora clings to the romantic notions about love and marriage, Mrs. Linde has a more realistic understanding of marriage, gained from her experience of being left with â€Å"not even an ounce of grief† (Act 1) after her husband’s death. Nora’s incredulity at Mrs. Linde’s remark indicates that Nora has live a sheltered life first under the protection of her father and then her husband. Feminist strains of independence begin to emerge towards the end of Act 1 as Nora’s character begins to unravel for the readers. Her rebellion of eating macaroons against her husband’s wish is