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1. Student is required to describe the details of business information of the company and to create business transaction. Assuming the type of ownership of the company is SOLE PROPRIETORSHIP. The required details include: - -The name of business and type of industry -Describe the main business operations. -Detail information of company product, sources of revenue and operating cost. -Organization chart and other relevant information about the business 2. Identifies and prepare 6 economic transactions, 1 non-economic transaction and 2 adjusting entries for ONE (1) months business transaction. 3. Record ALL transactions by complying with 3 steps in the accounting cycle. (Start with record in journal, post to ledger and prepare trial balance) UNDERSTANDING ACCOUNTING CONCEPTS (Demonstrates understanding on the basic accounting concept. journal, ledger, trial balance) - Create creative transactions ii- Prepare journal iii- Prepare complete ledger IV- Prepare Trial Balance & Adjusted Trial Balance