Sh16 Assume your business is Hola Beauty (Cosmetic Product Business). You should createabout 20-25 business transactions. The business transactions should include at least:.............Contribution of capital by the owner of the business3 credit purchases1 cash purchase3 credit sales1 cash sale2 purchases of non-current assets2 payments to suppliers2 payments by receivables1 transaction on payment of expenses1 transaction on revenue received.1 transaction on non-current liability2 Drawings (goods and cash) by the ownerFor merchandising business:1 transaction on sales return.• 1 transaction on purchases returnAfter creating business transactions, create:1. Specialised journals (General Journal, Cash Reciept Journal, Cash PaymentJournal, Sales Journal, Purchase Journal, Return outward Journal, Return InwardJournal)2. Subsidiary ledgers account3. Trial Balance as at that date.

Name: Sh16 Assume your business is Hola Beauty (Cosmetic Product Business).
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Description: Sh16 Assume your business is Hola Beauty (Cosmetic Product Business). You should createabout 20-25 business transactions. The business transactions should include at least:.............Contribution of capital by the owner of the business3 credit purc

Special Journal: An organisation may keep special journals to keep track of transactions that are…

Business

Accounting

Assume your business is Hola Beauty (Cosmetic Product Business). You should create about 20-25 business transactions. The business transactions should include at least: . . . . . . . . . . . Contribution of capital by the owner of the business 3 credit purchases . 1 cash purchase 3 credit sales 1 cash sale 2 purchases of non-current assets 2 payments to suppliers 2 payments by receivables 1 transaction on payment of expenses 1 transaction on revenue received. 2 Drawings (goods and cash) by the owner For merchandising business: 1 transaction on sales return. 1 transaction on purchases return After creating business transactions, create: 1. Specialised journals (General Journal, Cash Reciept Journal, Cash Payment Journal, Sales Journal, Purchase Journal, Return outward Journal, Return Inward Journal) 2. Subsidiary ledgers account 1 transaction on non-current liability 3. Trial Balance as at that date.

Assume your business is Hola Beauty (Cosmetic Product Business). You should create about 20-25 business transactions. The business transactions should include at least: . . . . . . . . . . . Contribution of capital by the owner of the business 3 credit purchases . 1 cash purchase 3 credit sales 1 cash sale 2 purchases of non-current assets 2 payments to suppliers 2 payments by receivables 1 transaction on payment of expenses 1 transaction on revenue received. 2 Drawings (goods and cash) by the owner For merchandising business: 1 transaction on sales return. 1 transaction on purchases return After creating business transactions, create: 1. Specialised journals (General Journal, Cash Reciept Journal, Cash Payment Journal, Sales Journal, Purchase Journal, Return outward Journal, Return Inward Journal) 2. Subsidiary ledgers account 1 transaction on non-current liability 3. Trial Balance as at that date.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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