Business Report Writing Skills

BUSINESS REPORT
WRITING SKILLS

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Case 1..........................................................................................................................................3
Case 2..........................................................................................................................................3
Case 3..........................................................................................................................................5
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The term accounting can be defined as a process of recording financial transaction of a
business entity in a systematic manner. The accounting is based on different types of principles
and concepts which are needed to be followed by accountants during recording transactions
(Groomer and Murthy, 2018). The project report is based on three different types of case studies.
The first case study is based on preparation of worksheet, financial statements in accordance of
given data. Second case study covers information about management of accounts payable and
third case study is about partnership.
MAIN BODY
Case 1.
(A) Preparation of a 10-column worksheet for the year ended 30 June 2017:
Account
Trial
balance
Adjusting
entries
Adjusted
trial balance
Income
statement
Balance
sheet
Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash at Bank 12600 12600 0 12600 0
Accounts Receivable 11800 11800 0 11800 0
Prepaid Insurance 1800 1340 1800 1340 1800 1340
Land
18020
0
18020
0 0
18020
0 0
Building
19600
0
19600
0 0
19600
0 0
Accumulated
Depreciation – Building 86900 9600 0 96500 0 96500
Equipment 32300 32300 0 32300 0
Accumulated
Depreciation –
Equipment 8800 3680 0 12480 0 12480
Accounts Payable 16400 0 16400 0 16400
Mortgage Payable 64000 0 64000 0 64000

Owner, Capital
23695
0 0
23695
0 0
23695
0
Owner, Drawings 86500 86500 0 86500 0
Fees Earned
26243
0 600 600
26243
0 600
26243
0
Rent Revenue 14400 0 14400 0 14400
Salaries Expense
12460
0 2360
12696
0 0
12696
0 0
Telephone Expense 4520 4520 0 4520 0
Interest Expense 3080 260 3340 0 3340 0
Insurance Expense 36480 1340 37820 0 37820 0
Accrued Fees 600 0 600 0 600
Outstanding Salaries 2360 0 2360 0 2360
Rates Owing 4820 0 4820 4820 4820
Accrued Interest 260 0 260 0 260
Rates 4820 4820 0 4820
Depreciation Expenses-
Equipment 3680 3680 0 3680
Depreciation Expenses-
Building 9600 9600 0 9600
68988
0
68988
0 22660 22660
71254
0
71254
0
19616
0
27683
0
52120
0
43571
0
(B) Preparation of an income statement, a statement of changes in equity and a balance sheet.
Income statement:
Revenues
Fee Earned 261830
Rent Revenue 14400
Total Revenues 276230
Expenses