Assume that you are going to start a business after graduation. think of 10 transactions that the business might undertake by using your own idea with the following assumptions:

Started business with cash

Goods purchase for cash

Goods purchased on credit

Any asset purchased and paid cash

Any asset purchase on credit

Sold goods for cash

Sold goods on credit

Paid any bill

Paid salary to staff

Cash withdraw from business for personal use

Based on your own 10 transactions, prepare:

1. Accounting Equation

2. Journal

3. Ledger

4. Trail Balance

5. Financial statement