Recording Business Transactions and Financial Analysis

Portfolio

INTRODUCTION
Recording business transactions is multi step procedure in record all the financial
transactions that occur in the business in particulars financial year. At the starting analysis all the
transactions after that decided which account credited and which account will be debited
(Mendling and et.al, 2018). An organisation use different formate to record all the business
transactions like journal entries, ledger, profit and loss account and financial position statement.
In this report consist of trial balance, ratio calculation and analysis the performance of
competitors.
PART A
(a) Write double entry record the transactions in T-accounts
Date particularss L.F
Debit
Amt.
Credit
Amt.
2020
01/10/20 Bank Account Dr 8000
Cash Account Dr 5200
Van Account Dr 3000
To Capital Account 16200
(Being business started)
02/10/20 Laptop Account Dr 1000
To Bank Account 1000
(Being laptop purchased)
04/10/20 Purchase Account Dr 2450
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To Toy Ltd 2450
(Being purchase made)
05/10/20 Bank Account Dr 1500
To Sales Account 1500
(Being sales made)
12/10/20
.....Repairs Account.....
Dr 80
.....To Cash
Account..... 80
(Being cash paid for
repairs)
18/10/20 Toy Ltd Account Dr 100
To Purchase Return
Account 100
(Being purchase return
made)
21/10/20 Bank Account Dr 500
......To Rent
Account...... 500
(Being rent received)
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