ame FINANCIAL STATEMENT CONTENTS OF ASSIQIDENT Marts Award Resources Use only the books mentioned from the SHCT Library: 5 Marks Principles of financial accounting by M. Reeve, James . Contents Queston No 1 Mohammed is very much interested to start a business after this Covid-19 impact. He is planning to start a Super Market. As a business student identity different forms of business and suggest him the most suitable and feasible business with its pros and cons Question No 2 Identify any 10 different business transactions that most ikely to happen in Mohammed's Business for which you recommended in Question No 1. While identity business transactions, you are required to consider the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchased on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to start Cash withdraw from business for personal use Based on your own 10 transactions 1. Form Accounting Equation (3 Marks) 2. Journalizing the 10 transactions (3 Maries) 3. Post them into different Ledger (3 Marks) 4 Prepare Tral Balance (3 Marks) 5. Compute the Financial statement 8 Marts Financial Accounting Concepts, Analyses Methods and Uses by Banerjee, B.K. Learning Outcomes After the completion of this assignment the students will be able to: Forms of business Advantages and limitations of sole trading business Advantages and limitations of partnership business Advantages and limitations of Corporations Analysis of transactions Record the journal entries . Post the journal entries into ledger accounts Prepare trial balance Draw up the income statement and Prepare the Balance sheet . 20 Marks Total 25 Marks OCT w Prices Page PM 153 3/23/2021 ame FINANCIAL STATEMENT CONTENTS OF ASSIQIDENT Marts Award Resources Use only the books mentioned from the SHCT Library: 5 Marks Principles of financial accounting by M. Reeve, James . Contents Queston No 1 Mohammed is very much interested to start a business after this Covid-19 impact. He is planning to start a Super Market. As a business student identity different forms of business and suggest him the most suitable and feasible business with its pros and cons Question No 2 Identify any 10 different business transactions that most ikely to happen in Mohammed's Business for which you recommended in Question No 1. While identity business transactions, you are required to consider the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchased on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to start Cash withdraw from business for personal use Based on your own 10 transactions 1. Form Accounting Equation (3 Marks) 2. Journalizing the 10 transactions (3 Maries) 3. Post them into different Ledger (3 Marks) 4 Prepare Tral Balance (3 Marks) 5. Compute the Financial statement 8 Marts Financial Accounting Concepts, Analyses Methods and Uses by Banerjee, B.K. Learning Outcomes After the completion of this assignment the students will be able to: Forms of business Advantages and limitations of sole trading business Advantages and limitations of partnership business Advantages and limitations of Corporations Analysis of transactions Record the journal entries . Post the journal entries into ledger accounts Prepare trial balance Draw up the income statement and Prepare the Balance sheet . 20 Marks Total 25 Marks OCT w Prices Page PM 153 3/23/2021