Can you please make up a business and its description like in the criteria as well as the trail balance and also make up the business transactions

This is all made up - Introducing the business and the partners You are required to write great story to introduce about your business and your business partner. ABOUT BUSINESS ? What is the name of the business & where is it located? ? Describe the business in details. E.g.: What is the business engaged in? Are you selling a product or providing a service? What product/s or what services? ? Who are its expected customers or clients? (Target market). ? What strategies would you do to attract customers to your business? ? What strengths do you have over your competition? Why would potential clients or customers choose your business instead of one of your competitors? ? What are major plans for business development in future? ABOUT PARTNERS ? Introduce the partner: Who are they? What were they doing before forming the partnership? ? Why/How did you come up with this business idea? ? What are partners' capital contributions (Cash/Car/Equipment/etc...)? (using a table) ? Recording Each partner's capital contribution (a table for journal entries) ? What else can they contribute into the business apart from their capital? How will they use their knowledge/background/experience etc. to help the business? ? Partnership agreement. How are profits and losses to be shared etc.? (Partnership agreement template may be downloaded from the Internet. Just change names etc. and delete unwanted sections. Using Referencing & Keep it short with around a page only.) Commencement of Business ? Write narrative: What date did business commence? (It will be at least a month after the partnership agreement is signed). Anything interesting at start? ? Prepare trial balance showing all accounts & their beginning balance on the day of business commencement (using the format given below & make up different amount & more accounts to be used in your business).

3 THIS IS AN EXAMPLE

LINH DO ACCOUNTING BUSINESS TRIAL BALANCE AS AT 1st February 2023 ACCOUNT NAMES DEBIT CREDIT Cash at Bank S 100,000 Petty Cash 2,000 Account Receivable S Inventory S Prepaid Insurance 5,000 Furniture and Fittings at Cost S 30,000 Furniture and Fittings Accum Dep S Equipment at Cost S 33,500 Equipment Accum Dep Delivery Vehicles at Cost $ 95.000 Delivery Vehicles Accum Dep $ Cash Register System at Cost S 10.000 Cash Register Accum Dep Account Payable S 80.000 GST Collected GST Paid 4,500 PAYG Withholding Payable S Your Capital S 100,000 Your peer 's Capital S 100,000 TOTAL S 280,000 S 280,000