Question

Describe whether the following transactions are economic or
non-economic transactions and clarify the reason for it
(1) Assets sold to Mira on credit for 22,000.
(2) 78.000 paid for wages,
(3) An order is received to supply goods of? 10.000​

Answer 1

Answer:

1. Mira is receiver. Mira A/C. personal A/C.dr.22,000.

Asset goes out. Asset A/C.real A/C.cr.22,000.

2. wages is an expense.wages A/C. Nominal A/C.dr.78.000

cash goes out.cash A/C.real A/C.cr.78.000

3. non economic because they give only order not not any transaction.

Answer 2

Answer:

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