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Case Study:You are appointed as a junior accountant in a sole proprietor business. You are required to enter the below transactions in the books of
Case Study:You are appointed as a junior accountant in a sole proprietor business. You are required to enter the below transactions in the books of accounts by following the below assessment task:January Capital invested as cash RO to start up the businessJanuary Paid RO in cash to Purchase FactoryJanuary Purchase of goods on credit for RO from Kalood tradingJanuary Sale of goods to Qaboos trading for cash RO January Paid RO liability to the Kalood tradingJanuary Paid advertisement of RO January Paid salaries of RO January Paid rent RO for the house of the sole traderJanuary Paid Electricity RO AIAE TErTask: Enter the accounts in the books of original entry, the proper journal with the required format with the date, details, amount debit columns, amount credit column and narrations. MarksTask : Classify the transactions of similar nature under one account and prepare the ledger accounts in the required format with date, details, amount column. Marks
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