Contents Resources Learning Outcomes Marks Awarded 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 identify different forms of business and suggest him the most suitable and feasible business with its pros and cons Use only the books After the completion of this mentioned from the assignment the students will SHCT Library: be able to: Forms of business Principles of financial Advantages and accounting by M limitations of sole Reeve, James trading business Advantages and Financial Accounting limitations of Concepts, Analyses, partnership business Methods and Uses Advantages and by Banerjee, B.K. limitations of Corporations Analysis of transactions Record the journal entries . Post the journal entries into ledger accounts Prepare trial balance Draw up the Income statement and Prepare the Balance sheet 5 Ma Marks 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 identify business transactions, you are required to consider the following assumptions: Started business with cash Goods purchase for cash . Goods purchased on credit Any asset purchased and paid cash Any asset purchased on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to state Cash withdraw from business for personal use Based on your own 10 transactions: 1. Form Accounting Equation (3 Marks) 2. Journalizing the 10 transactions (3 Marks) 3. Post them into different Ledger (3 Marks) 4. Prepare Trail Balance (3 Marks) 5. Compute the Financial statement (8 Marks) 20 Marks Total 25 Marks