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Accounting
urgent answers .. please respond all questions !
Student Name: Student ID#: Q1: Explain the following with examples in context of financial accounting used in Sage50: a) Source Documents (Marks-5) b) HST (Marks-5) c) Fiscal Year (Marks-5) Q2: Make journal entries in Sage50 for the following transactions, and write down the steps followed while working on Sage50: (Marks-20) a) Mr. Bob paid rent for his office $ 10,000 b) He paid utilities of his office $ 500 from his personal credit card. c) He purchased a gift for his wife $400 and paid from business bank account. d) He decided to recorded depreciation $2000 for office furniture. e) He has received hydro bill $600 but not paid yet. Q3: Write down steps to create reports - Income statement and Balance sheet in sage 50 and send them to chief executive of the company. (Marks-20) Q4. Discuss the advantages and disadvantages of computerised accounting. (Marks-15)
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