Subject: principle of accounting Question No 2 Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchase on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to staff Cash withdraw from business for personal use Cash withdraw from business for personal use Based on your own 10 transactions, prepare: 1: Accounting Equation 2. Trail Balance 3. Financial statement
Subject: principle of accounting Question No 2 Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchase on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to staff Cash withdraw from business for personal use Cash withdraw from business for personal use Based on your own 10 transactions, prepare: 1: Accounting Equation 2. Trail Balance 3. Financial statement
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter24: Analysis Of Financial Statements
Section: Chapter Questions
Problem 1CP: This problem challenges you to apply your cumulative accounting knowledge to move a step beyond the...
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Subject: principle of accounting
Question No 2 Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions:
- Started business with cash
- Goods purchase for cash
- Goods purchased on credit
- Any asset purchased and paid cash
- Any asset purchase on credit
- Sold goods for cash
- Sold goods on credit
- Paid any bill
- Paid salary to staff
- Cash withdraw from business for personal use
Cash withdraw from business for personal use Based on your own 10 transactions, prepare:
1:
2. Trail Balance
3. Financial statement
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