PRACTICE 05

READ THE TEXT AND TRY TO COMPLETE.

An asset is record of all investments involving a particular item.
Companies maintain separate liability for each type of
inventory, each type of accounts payable, owner usually
referred to as the owner´s capital account in a sole
proprietorship, owner investments each type of sales revenue,
and each type of wages expenses, all accounts taken together
make up the general ledger. For organizational purposes, each
account in the general ledger is assigned is assigned a number,
and companies maintain a chart of accounts, which lists the
accounts and account numbers.

LOOK AT THE IMAGES AND MAKE UP A STORY

Alexander mailman dreams of a car so he withdraws his money
to purchase a car and runs out of money Alexander the mailman
Dreams of a car and has save money; then he decides to
purchase immediately withdraws money and buys the car he
dreamed of, now he has no money