(40%)buwrVX/edittes ago+3BZUAYXHDOhow to prepare the accounts for her business.You will perform the following:(₁)(11)(iii)(lv)&202252 BMX203 Assignmc X A My Drive - Google Drive7NSelect an accounting principle and explain how it can be applied to IKate Minimart[2]Perform research on the elements of the accounting equation Yourresearch should cover:Description of the element2 examples of accounts Included under the element1 transaction that increases and 1 transaction that decreases theelementUSelect THREE (3) transactions that Kate Minimart performs andillustrate their effect on the accounting equation.ASUS VivobookSelect ONE (1) financial statement to prepare at period end.Describe the following:in-the purpose of preparing the statementthe key componentsONE (1) user and how he can use its informationprovide a brief format of the selected financial statement (with nonumbers).FBJ8$MFO9DK1VFIOO11E EEEE1OENDRINENSILXF11ASP202252 BMX203 Assignm:F12Ray1Prt Sc?3=#11GAMEInsert 2.141= <- 2 - 2 -32You are to refer to Kate Minimart operation below:Kate operates animart store located in a private estate. She invested$20,000 of her own funds and took an additional $10,000 bank loan to pay Ifor the renovation and store fittings totaled $22,000, balance funds to usefor operation needs.Kate paid a monthly rent of $5,000 for the store. The minimart sells avariety of goods estimated a total worth of $10,000. All sales are on cashbasis amounting to about $12,000 to $14,000 each month. Kate is at a losshow to prepare the accounts for her business.You will perform the following:Select an accounting principle and explain how it can be applied toKate Minimart

Name: (40%)buwrVX/edittes ago+3BZUAYXHDOhow to prepare the accounts for her
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Description: (40%)buwrVX/edittes ago+3BZUAYXHDOhow to prepare the accounts for her business.You will perform the following:(₁)(11)(iii)(lv)&202252 BMX203 Assignmc X A My Drive - Google Drive7NSelect an accounting principle and explain how it can be applied to IK

Kate operates a minimart located in a private estate. She has invested her own funds, even borrowed…

Business

Accounting

You will perform the following: (1) Select an accounting principle and explain how it can be applied to Kate Minimart (1) (iii) Perform research on the elements of the accounting equation Your research should cover: Description of the element 2 examples of accounts included under the element 1 transaction that increases and 1 transaction that decreases the element Select THREE (3) transactions that Kate Minimart performs and illustrate their effect on the accounting equation.

You will perform the following: (1) Select an accounting principle and explain how it can be applied to Kate Minimart (1) (iii) Perform research on the elements of the accounting equation Your research should cover: Description of the element 2 examples of accounts included under the element 1 transaction that increases and 1 transaction that decreases the element Select THREE (3) transactions that Kate Minimart performs and illustrate their effect on the accounting equation.

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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