General Guide Lines: 1. The initial Capital is Rs. 35 million. 60% invested by owner. 40% through 5 years Long Terms notes Payable at interest rate at 12% per annum with equal annual payments. 2. The Time period for Transactions is one Quarter (3 Months). The adjusting entries are made by the end of every month. 3. The Sales or Service Revenue will be generated both Cash & Credit. \% ages are determined by each group. 4. The Purchases are also recorded on credit basis with the payment due within 30 days. 5. The Time Period will start from |September 1st 2022. The books will closed on November 30, 2022. Requirements: A formal report containing all essentials of the report must be submitted in hard and soft form by December 10, 2022. Report shall focus on the following steps of an accounting cycle: 1. Company Name and general introduction 2. Chart of Accounts 3. Business Transactions 4. Journal Entries 5. Ledger 6. Trial Balance 7. Adjustments by the end of every month. 8. Adjusted Trial Balance 9. Income Statement as on dated November 30, 2022 (1st Quarter) 10. Statement of Owner's Equity dated November 30, 2022 (1st Quarter) 11. Balance Sheet dated November 30, 2022 (1st Quarter) 12. Closing Entries 13. Post-Closing Trial Balance