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Jumping Beans

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For this assignment I have interview the Star bookstore owner- Ms Wang Xiuli and this bookshop provide the service of sale and rent books. I first time visited the place of business at 9th June.

I print the questionnaire and after she see whole the question, she described the accounting situation of this bookshop, and she also explain why this company like this. And I record all of hand by hand.

A) What accounting information and records does the business have?

According to Ms Wang, this business has cash book, accounts payable, accounts receivable, journals, stock record, sales book, trail balance, profit and loss account, balance sheet, accounts of limited company, and as accounting information. Then the employee keeps receipts, invoice, and bills as source documents.


It records the cash receipt and cash spend of the star bookstore everyday


The accounts used to record all the paying offal the invoices for goods and services that are purchase by the firm, for example the star bookstore purchase the magazines, or cartoon books.


It means this is a record that is kept for what is suppose to be receive by the company for example revenue that is suppose to be receive by the company.


That recorded the date of transaction, the accounts to be debited and credited, the amounts of the debit and credit entries, and an explanation of each transaction.


keeps in tract with the amount of stock that is coming in to the warehouse and how much is going out of the firm warehouse so that at any given time there wont accrues a shortage of raw materials for production and at a same time the organization does not over spend by ordering extra stock that it does not need.


it is an account of the book value of an asset that is going to be sold this will show the current value of the asset .these is done to know the value on which the firm should sell the particular asset.


An account in which both sides of the equation in balance these means the credit and debit part balance out.


A list of revenue and expenses which was incurred in the year these accounts is use to find the net profit.



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