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I want long and corect answer Contents . . . Question No 1...

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Accounting

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I want long and corect answer

Contents . . . Question No 1 Salim and Rashid want to start a Furniture shop at Sohar. How can you help them by explaining different forms of business and its benefits and limitations? Question No 2 Assume that you are going to start a Business after graduation. Describe 10 transactions that the business might undertake by using your own idea with the following assumptions: Started business with cash Goods purchase for cash Goods purchased on credit Any asset purchased and paid cash Any asset purchase on credit Sold goods for cash Sold goods on credit Paid any bill Paid salary to staff Cash withdraw from business for personal use Based on your own 10 transactions, prepare: 1. Accounting Equation 2. Journal 3. Ledger 4. Trail Balance 5. Financial statement

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