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.

Question No 2: Identify any 10 different business transactions that most likely to happen in Mohammeds 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 staff

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)