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Financial Accounting Assignment Solution

   

Added on  2020-10-05

12 Pages1352 Words66 Views
FINANCIALACCOUNTINGProject 1
Financial Accounting Assignment Solution_1
Table of ContentsINTRODUCTION...........................................................................................................................1P1 Preparation of Journal and Ledger accounts.....................................................................1P2 Preparation of trail balance...............................................................................................4P3 Preparation of final accounts.............................................................................................5P4 Preparation of financial accounts for sole trader and limited company............................6CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
Financial Accounting Assignment Solution_2
INTRODUCTIONFinancial accounting is the process of preparation of financial accounts including allrecords and books of accounts such as Journal entries, ledger accounts, trial balance, incomestatement and balance sheet. These accounts are prepared annually for reflecting the true and fairimage of the organization. In this project report financial accounts of a small accountancy firmare prepared in first of this particular report.P1 Preparation of Journal and Ledger accounts1
Financial Accounting Assignment Solution_3
General Ledger accountsCash accountParticularsDebit amountParticularsCredit amountSales account4000Equipment account3000Sales account10000Stationary account30Bank account100Balance c/d11070Total14100Total14100Bank accountParticularsDebit amountParticularsCredit amountCapital account65000Account payable account4000Prepaid insurance account75Prepaid rent account150Cash in hand account100Balance c/d60675Total65000Total65000Capital accountParticularsDebit amountParticularsCredit amountBalance c/d65000Bank account65000Total65000Total65000Purchases accountParticularsDebit amountParticularsCredit amountTrade payable account8000Balance c/d18000Trade payable account100002
Financial Accounting Assignment Solution_4

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