CONTENTS OF ASSIGNMENT Marks Awarded 5 Marks Contents Question 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 idently 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 likely 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 as purchased and paid cash . Any asset purchased on credit Sold goods for cash Sold goods on credit Paidary Paid salary to staff Cash withdraw from business for personal use Based on your own 10 transactions: 1. Form Accounting Equation (3 Marks) 2 Journaling the 10 transactions (3 Maks 3. Post them into different Lodge (Marks) 4. Prepare Tral Balance (3 Marks) 5. Compute the Financial statement (8 Marks) Resources Use only the books mentioned from the SHCT Library Principles of financial accounting by M Reeve, James Financial Accounting Concepts. Analyses Methods and Uses by Banerje, BK Learning Outcomes After the completion of this assignment the students will be able to Forms of business Advantages and imitations of sole trading business Advantages and limitations of partnership business Advantages and limitations of Corporations Analysis of transactions . Record the joumat entries Post the journal entries into lodge accounts Prepare till balance Draw up the income statement Prepare the Balance sheet 20 Marks . and Total 25 Marks CONTENTS OF ASSIGNMENT Marks Awarded 5 Marks Contents Question 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 idently 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 likely 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 as purchased and paid cash . Any asset purchased on credit Sold goods for cash Sold goods on credit Paidary Paid salary to staff Cash withdraw from business for personal use Based on your own 10 transactions: 1. Form Accounting Equation (3 Marks) 2 Journaling the 10 transactions (3 Maks 3. Post them into different Lodge (Marks) 4. Prepare Tral Balance (3 Marks) 5. Compute the Financial statement (8 Marks) Resources Use only the books mentioned from the SHCT Library Principles of financial accounting by M Reeve, James Financial Accounting Concepts. Analyses Methods and Uses by Banerje, BK Learning Outcomes After the completion of this assignment the students will be able to Forms of business Advantages and imitations of sole trading business Advantages and limitations of partnership business Advantages and limitations of Corporations Analysis of transactions . Record the joumat entries Post the journal entries into lodge accounts Prepare till balance Draw up the income statement Prepare the Balance sheet 20 Marks . and Total 25 Marks
