Reference no: EM132330049
Business Accounting Assessment - Individual Business Report
Assessment Task: Business reports are practical learning tasks where students apply the theories they have been studying to real world situations. The students are required to select a topic or work on a topic provided by the lecturer, collect information (Primary and/or secondary) or work on the information provided by the lecturer, and prepare a report describing a business problem or incident.
ASSESSMENT DESCRIPTION: Analyse the given information, make calculations where relevant and draw relevant, supported conclusions and make justified recommendations. Responses are to be formatted into a professional report for each part of each question, as would be expected of someone working in a modern accountant's office.
Please see attached file for Paul services Trial Balance As At 30 June 2016.
Step 1: Journalise the adjustment transactions (adjustments sheet)
Step 2: Post adjusting journal entries and complete the Worksheet
Step 3: Create the Income Statements from the completed Worksheet
Step 4: Journalise the closing entries
Step 5: Create the changes in Equity and Balance sheet from the completed Worksheet
Step 6: Answer the following questions considering proper referencing;
1) What is a trial balance, why do we create it?
2) What are adjustment journal entries? Why do we record the adjustment journal entries?
3) What is the purpose of writing an adjusted Trial balance?
4) How adjustment journal entries are different from the closing journal entries?
The report should be in just one word format file and total number of words including numbers should be 2000 words and proper referencing.
Attachment:- Business Accounting Assignment File.rar