Accounts - Principles of Accounts

accruals

materiality

objectivity

periodicity

ledgers

source documents

minutes of meeting

intuitive reasoning

telephone N3,500 credit XYZ and KLM, N3,500

telephone N3,500, credit cash N3,500

sundries N3,500, credit KLM N3,500

sundries N3,500, credit telephone N3,500

N4 690 000

N2 620 000

N2 520 000

N1 565 000

increase in assets and increase in capital

increase in liabilities and decrease in capital

decrease in capital and increase in assets

decrease in capital and decrease in assets