need urgent answers Q1: Explain the following with examples in...
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Accounting
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Q1: Explain the following with examples in context of financial accounting used in Sage50: a) Assets (Marks-5) b) Liabilities (Marks-5) c) Accrual concept (Marks-5) d) Trial Balance (Marks-5) Q2: Make journal entries in Sage50 and trial balance of the following transactions, and write down the steps followed while working on Sage 50: (Marks-20) a) Mr. A started business with $ 5000 cash and a car worth of $ 2000, b) He purchased machinery for $ 500. c) He purchased goods $ 600 from Mr. Umer on credit. d) He sold goods $ 700 to Mr. Iqbal. e) He got a loan from his bank $ 35,000. 1) He paid rent for his office $ 300 Q3: Write down steps to create new company in sage50. (Marks-20) Q4: Discuss the importance of computerised accounting in comparison with manual accounting (Marks-20)
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