Q1:

Write down ten financial transactions of your choice and their effect on the accounting equation

Q2:

The balance sheet for a company on 31 December 2019 (amounts in thousands)

Amount	Amount	Account
	565000	Sales
1500		Commission agents
65000		cash
13200		advertising
24000		debtors
	22100	creditor
2100		Bad debts
6300		sales management asset depreciation expenses
304600		cost of sales
3400		out-of-country transportation expenses (sales transfer)
	2300	Car Sales Gains
450		Stationery
3600		Sales men salaries
	5800	Insurance payable
	75000	Bond loan
110000		land
	49150	Share capital
95000		buildings
	40000	Accumulated depreciation of building
	3100	Building Sales Gains
35000		Furniture
	2000	Accumulated depreciation of Furniture
55000		cars
	3000	Accumulated depreciation of cars
23700		Salaries
	25400	Notes payable
50000		Bank account
792850	792850	Total

Prepare the following:

• Income statement for year end 31 December 2019
• Balance sheet for the year ended 31 December 2019.
• Calculate Seven of the financial ratios studied during the semester