Accounting Problems Assignment

Running head: ACCOUNTING ASSIGNEMENT
ACCOUNTING ASSIGNMENT
Name of the Student
Name of the University
Author Note:

ACCOUNTING ASSIGNMENT1
Table of Contents
Journal Entries............................................................................................................................2
General Ledger...........................................................................................................................3
Trail Balance..............................................................................................................................6
Income Statement.......................................................................................................................7
Balance Sheet.............................................................................................................................7

ACCOUNTING ASSIGNMENT2
The main transaction in the business depends upon the nature of the business.
However, some important transaction that are almost common in every business:
1) Invested capital in business with cash of $2000000
2) Purchased Land for $1000000 and Machinery for $250000 for cash
3) Purchased Raw Material on credit $100000
4) Sold Goods for cash worth $500000
5) Paid to creditors $100000
Journal Entries
DR CR
Bank A/c $2000000
Capital A/c $2000000
Capital invested in the bank account of the company.
Land $1000000
Machinery $250000
Bank $1250000
Purchased asset for cash
Purchase $100000
Accounts Payable $100000
Raw materials purchased on credit
Bank A/c $2000000