Problem 2: Your line manager has asked you to use the Journal book that you have produced previously for the Software programming company (in problem 1) in order to Instructions 1) Open ledger accounts and post the June transactions. 2) Prepare a Trail Balance at Nonember30", applying the use of the balance off rule to complete the ledger. 3) Apply trial balance figures to show which statement of financial accounts they will end up in. Problem 3: In this task your line manager wants to assess your understanding and ability to prepare and produce the appropriate final accounts such as profit and loss account, owners' equity statement, and balance sheet. Instructions 1) Produce the final accounts for a sole trader business (Software Programming Company) including profit and loss account, owners' equity statement, and balance sheet for the Period ended June 31th. Using the trial balance that you have produced in problem 2. 2) Compare the essential features of each financial account statement to analyse the differences between them in terms purpose, structure and content. TRANSACTIONS 1. 01/06/2020. Robert started business with cash RO. 60,000 and a motor van RO. 1000. 2. 02/06/2020. Purchased office supplies for RO. 8640 for cash 3. 03/06/2020. Purchased a computer on credit RO. 480 4. 04/06/2020. Provided service for cash RO. 500 and credit RO. 320. 5. 05/06/2020. Purchased office supplies for credit RO. 1520 6. 08/06/2020. Purchased an insurance policy for one-year RO. 1340 for cash 7. 10/06/2020. Received cash from customer to whom Robert provided service on 04/06/2020 8. 15/06/2020. Purchased a car using his personal money RO. 6500 for personal use. 9. 18/06/2020. Paid to supplier of the computer in full. 10. 19/06/2020. Provided services to customers on account. RO. 3800 11. 20/06/2020. Received electricity and water bill but decided to pay later. RO. 510 12. 21/06/2020. Received RO. 1250 from a customer to whom Robert will provide service next month. 13. 25/06/2020. Paid rent RO. 960. 14. 26/06/2020. Total wage due for the month is RO 3260 but paid only RO. 1260, remaining agreed to pay later. 15. 28/06/2020. Withdraw money for personal use RO. 185 I. Introduction You are a Junior Accountant trainee in an accountancy firm which serves a number of clients with different financial needs. At the end of your training period your line manager wants to assess your ability and knowledge in handling some of the main financial accounting issues regarding the process of recording financial transactions and preparing basic final accounts, in order to do so he asked you to conduct some tasks to demonstrate your ability and to reflect the knowledge and skills you have gain during your training period. In this assignment you are required to handle a number of financial accounting problems. Problem 1: Your line manager has provided you with the following information: A Sole Trader business incorporates as Software Programming Company that specialises in providing computer programming services. The business has been established on 1st June, 2020 without having specialised accounting department or system. However, at the end of June the business faces major difficulties and misunderstanding of the process of recording and journalizes the relevant economic transactions that have been done during the first month in an appropriate and standardized way. Instructions In this task you have to use the transactions given at the end in order to: 1) Analyse transactions using double entry bookkeeping appropriately and effectively. Your analysis should show the effects of transactions on the basic accounting equation and the progression toward preparing the trial balance. The analysis should include: a) Which accounts does the transaction affect? (Names of individual accounts?) b) What category does each of these accounts belong to? (Asset, Liability or Owner's Equity, Revenue, Expense or Drawings?) c) Is the value of the individual account going to increase or decrease as a result of the transaction? 2) Journalize the June transactions, by applying the double entry book- keeping system of debits and credits. Problem 2: Your line manager has asked you to use the Journal book that you have produced previously for the Software programming company (in :problem 1) in order to Instructions 1) Open ledger accounts and post the June transactions. 2) Prepare a Trail Balance at Nonember30th, applying the use of the balance off rule to complete the ledger. 3) Apply trial balance figures to show which statement of financial accounts they will end up in