Question

please help me with compelet calculation

assume that you are the Financial Accountant of a newly started business from your chosen in August 2020(with the calculation) Q1. Step 1 - Analyze Business Transactions (Accounting Cycle) You are requested to assume the chosen business transactions during the month of August 2020 and analyze it by shown the impact of these transactions on the accounting equation! Q2. Step 7 Accounting Cycle - Prepare Financial Statements You are requested using the information of Step 1 to prepare the financial statements of your chosen business for the month of August 2020. Q3. Step 2 Accounting Cycle – Journalize Business Transactions You are requested to journalize the assumed transactions for your chosen business during the month of August 2020!

its asking me to do a plan for small business and put all the data with my self ( number's, transaction , analyz , amount , and on next to step calculate it ) like we make a question and answer

Answer 1

solution : - the Aug & assume . the transactions for month of August 2020 follows :- Aug 1 Started business with cash flop0,000 dug 5 Purchased machinary worth a 50.000 and building worth 500 DO Purchased stock worth 200.000 dugio. sold goods worth 40000 with profit of 10.000. 15 stock Aug Purchased worth F 20.00 Ram . credit. dug zo to shyam for & 30.000 whose cost 25000 credit Paid to Ram 19000 settlement of 야 his account. Paid 3000 30 sug 5000, Sold goods was in full Aug 22 Aug 25. electricity bill paid wages OA Shot on OnePlus Powered by Dual Camera

Impact on Accounting Equation Date Assets Capital + Liability Cash + Machini + Building + Stock + Dibloy - Capital + Creditor + UT b New Eq 111 - F оо Aug lo 0,00,000 + + 10,00,000 -5,50.000 + 50,000 + 500,000 + + O 4.50000 + 50 000 + 500,000 + b 10 DO DOO + - 200 000 + + + + 200,000 + kebaboo + 2.50,000 + 50,000 + 500poo + 2006oo to 1000,000 + O 50,000 + o 400Oo +O +10,000 + O 300,000 + 50,000 + 500,00D + 160000 + O 10,10,000 to t 20,000 to O +20 boo 300,000 + 50.000 + 500,000 + 180.000 + 0 = 10,00,000 + 200od + O + - 25000 + 30,000 + 5000 tan 300.000 € 50.000 + 500.000 + 155000 + 30,000 10,15000 + 20 mg - 19000 + + 1000 Aug 15 Aug Aug 22 20, Augas 2,81000 + 50,000 + 509ooo + 1155000 + 30,000 - 3000 + + to 2,78000 + 50,000 + 500,000 + 155000 + 30000 5000 2,73000 + 50,000 + 50QOOD + 155000 +306oo 10,08000 OA Shot on OnePlus Powered by Dual Camera Aug 30 10,16000 + 3000 t 10,3000 + Sovo = 10,08 000 + 10,08 000 RHS LHS

Date Financial statements Aus 2: Trading and Profit & Los Alc month aig 20,20 for the Aug 1 80,000 55000 Aug 5 To Purchase To wages To Cross Profit 2,20,000 5000 10000 23 Sodo By sales By Closing Stock New Eq 7 235000 Aug Aug lo 3000 10,000 To electricity To Net Profit dopo By Cron Profit By Discount Recieved 15 Aug No00 20 Aug 4 Aug22 Balance Sheet yas 30 Aug, 2020 Amount Assets مم Liabilities amount 25 Capital 10,00,000 Cash 273000 + Net Machine Powered by Dual Camera Profit 8000 10,08,000 Building 50,000 15,00,000 OA Shot on OnePlus Closing stock 1,55 000 capit Debtors 30,000 10,08 000 10,08000

Journal entries Augi . Cash Du 10,00,000 Capital All 10,00.000 Aug 5: Machiwany Alle Building All 50,000 550,000 Dr cash Ale 5,50.00 Aug 10 Cash Ale Du 50, DOO sales Ale 50,000 Purchase ALL Dr Aug 15 20,000 TD Ram 20. ou Aug 20. 30 000 Shyan To salis Ale 3000 Ram All Dr 2000 Aug 22. 1900 To cash all To discount Recieved the 1000 25. Electricity All 3000 Goee Aug 25. TO cash Ale 3000 Dhe 5000 Aug 30 Aug Wages All TO Cash Ale 5000 OA Shot on OnePlus Powered by Dual Camera