Q.1 On behalf of your assumption amount make Accounting equation and pass journal entry of all below given transaction in the books of Alnaccm and also make balance sheet on the basis of the last equation 1. 2. 3. 4. 5. Alnaccm start business with investment of cash assume amount xourself and put in equation and pass journal entry. Alnacem purchase furniture with cash assume amount yourself and put in equation and pass journal entry. Alnaccm purcbasc Goods with cash assume amount yourself and put in cquation and pass journal entry Alnaccm purchase Equipment on Account assume amount yourself and put in equation and pass joumal entry. Alnacem receive consulting fees Cash assume amount xourself and put in equation and pass journal entry. S. Assets Labilitie Equity Transaction 2. Cash goods Furnitur Equipm ent Revenue al al al al Balance Sheet of Alnaeem & company Journal entry In the books of Alnaeem & Company Q2. Assume that Guardian Company uses a periodic inventory system and has these account balances: Purchases $600,000; Purchase Returns and Allowances $25,000; Purchase Discounts S11,000; and Freight-in S19,000; beginning inventory of $45,000; ending inventory of $55,000; and net sales of S750,000. Required 1. Determine the cost of goods sold. II. Determine the Gross profit Q3. From the following adjusted Trail Balance Prepare the 3 financial statements, Income statementRetained Earnings Statement and Balance sheet Debit 72400 1500 150000 5000 5000 6000 4000 1000 1200 Credit 200000 5000 41100 Cash Accounts receivable Equipment Supplies Expenses Advertisement Salaries Rent Dividend Insurance Common Stock Accounts Payable Car Revenues Total 246100 Total 246100 Q4. Record the following transactions in the desired manner and give the adjusting entry on December 31, 2016. (Two entries for each part. 1. An insurance policy for two years was acquired on April 1, 2016 for $8,000 2. on NOV. 30 the company reveived $ 10000 cash aginst services to be provided in december 31. On that date service provided to the customer (1 marks) Date Particulars Dr Cr