2014 Accounts Sba
AIMS OF THE PROJECT
The aims of this S.B.A project are:
1) It gives Full Corporation and decision making among students so they can be involved in the actual operation of a small business.
2) It gives students great experience in recording, analyzing, interpreting and communication accounting information.
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LIST OF TRANSACTIONS
1ST TRANSACTION:
2013
September 1 – The business commenced with following assets and liabilities: Cash - $10000 Bank - $30000 Motor Van - $6000 Stationery - $8000 Furniture - $6000
September 1 – opening stock amounted to $283
September 2 – paid rent by cash $140
September 4 – bought motor van by cheque $550 from L.Woods
September 6 – bought stationery paying by cheque $60
September 8 – sold eight textbook for cash $240
September 10 – the proprietor took cash for himself $74
September 12 – sold goods, thirty notebooks on credit to L.Smith $200
September 14 – goods returned to us by L.Smith $120
September 16 – bought six box of pens and pencils from K.Kite paying by cash $200
September 18 – bought goods, ten box of erasers on credit from H.Henry $600
October 1- goods returned by us to H.Henry $240
October 3 – sold goods, three box pf sharpener on credit to Marcus Ltd $220
October 5 – goods returned to us by Marcus Ltd $150
October 7 – bought eight textbook from D.Lee with cheque $270
October 9 – sold goods, three box of rulers on credit to L.Len $300
October 15 – bought goods, six textbook on credit from C.Shane $160
October 20 – bought machinery with cheque $500
October 25 – bought shelves on credit from M.Mike $240
October 28 – paid insurance by cash $300
October 30 – paid electricity by cash $260
2ND TRANSACTION:
November 2 – sold goods, ten box of pens on credit to First Citizens Bank $295
November 3 – bought goods, five box of notebook on credit from T.Tom $300
November 5 – paid rent by cash $150
November 7 – sold three notebook for cash $140
November 8 – bought motor van for cash $280
November 11 – paid
The aims of this S.B.A project are:
1) It gives Full Corporation and decision making among students so they can be involved in the actual operation of a small business.
2) It gives students great experience in recording, analyzing, interpreting and communication accounting information.
Page 2
LIST OF TRANSACTIONS
1ST TRANSACTION:
2013
September 1 – The business commenced with following assets and liabilities: Cash - $10000 Bank - $30000 Motor Van - $6000 Stationery - $8000 Furniture - $6000
September 1 – opening stock amounted to $283
September 2 – paid rent by cash $140
September 4 – bought motor van by cheque $550 from L.Woods
September 6 – bought stationery paying by cheque $60
September 8 – sold eight textbook for cash $240
September 10 – the proprietor took cash for himself $74
September 12 – sold goods, thirty notebooks on credit to L.Smith $200
September 14 – goods returned to us by L.Smith $120
September 16 – bought six box of pens and pencils from K.Kite paying by cash $200
September 18 – bought goods, ten box of erasers on credit from H.Henry $600
October 1- goods returned by us to H.Henry $240
October 3 – sold goods, three box pf sharpener on credit to Marcus Ltd $220
October 5 – goods returned to us by Marcus Ltd $150
October 7 – bought eight textbook from D.Lee with cheque $270
October 9 – sold goods, three box of rulers on credit to L.Len $300
October 15 – bought goods, six textbook on credit from C.Shane $160
October 20 – bought machinery with cheque $500
October 25 – bought shelves on credit from M.Mike $240
October 28 – paid insurance by cash $300
October 30 – paid electricity by cash $260
2ND TRANSACTION:
November 2 – sold goods, ten box of pens on credit to First Citizens Bank $295
November 3 – bought goods, five box of notebook on credit from T.Tom $300
November 5 – paid rent by cash $150
November 7 – sold three notebook for cash $140
November 8 – bought motor van for cash $280
November 11 – paid
Bibliography: ………………………………………………………………………………40 REGULATION In this business the owner have to make sure an abide by the law that is given from the government, (example) 1) no false receipts 2) have proper document 1) The health and safety practice observe is housekeeping (example) no wet floors so no one would not slip. 2) The staff rule that they complied to is no sexual harassment Page 9