This assignment, focusing on financial accounting, encompasses several key areas. Activity 01 requires the application of bookkeeping techniques to record business transactions using the double-entry system, generate journal entries, and produce a trial balance. Activity 02 delves into the preparation of final accounts for different business structures, including sole traders, partnerships, and limited companies. Part (A) involves preparing a Statement of Comprehensive Income and a Statement of Financial Position for a sole proprietorship. Part (B) focuses on the financial statements for a partnership, including appropriation accounts. Part (C) requires the preparation of financial statements for a limited liability company. The assignment covers a wide range of accounting principles and practices, from basic transaction recording to the preparation of comprehensive financial statements. The provided solution demonstrates how to apply accounting knowledge to various business scenarios.
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