Question
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
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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started