Fill in the spaces below Amraj, Dhruv and Jay started a car wash business. Their main aim is to make profit. This type of a business is in the …Asector and is referred to as a BAmraj contributed capital and runs the business activities daily. He is referred to as Cpartner. On the other hand .Dhruv allowed his name to be used in the business, therefore he is a Dpartner. Jay is below 18 years .He contributed capital and gets a share of the profits. He is a Epartner. The business was not able to raise enough capital and had to take a loan from the bank to boost and buy equipments. If they are not able to pay these loans, peronal items can be sold to cater for this loans. This is referred to asF

Tiana daniels enterprise’s trial balance as at december 31, 2016 did not balance. on february 15, 2017 the following errors were detected: errorsi. water rates had been undercast by $2, 000.  ii. a cheque paid to yvonne walch of $2, 680 had been posted to the credit side of her account.  iii. discount received total of $1, 260 had been posted to the debit side of the discount allowed account as $1, 620.  iv. rent paid in the amount of $24, 000 had been posted to the credit of the rent received account.  v. wayne returned goods valuing $1, 680 to daniels enterprise but had been completely omitted from the books.    required: 1. prepare the journal entries to correct the errors.  (narrations required)                    14.5 marks  2.    prepare the suspense account showing clearly the original trial balance error.          8 marks

Salaries are $4,500 per week for five working days and are paid weekly at the end of the day fridays. the end of the month falls on a thursday. the accountant for dayton company made the appropriate accrual adjustment and posted it to the ledger. the balance of salaries payable, as shown on the adjusted trial balance, will be a (assume that there was no beginning balance in the salaries payable account.)

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