Principles of Accounting

Learning Goal: I’m working on a accounting question and need an explanation and answer to help me learn.

Assignment Question(s):(Marks15)

Q1. On your own words, outline the accounting principles and assumptions and explain each one.(Marks5)

Q2. What is the accounting cycle? Explain every step starting from analyzing transactions to preparing post-closing trial balance.(Marks5)

Q3. Based on the following trial balance for ABC Co, prepare an income statement, statement of retained earnings and a balance sheet. The company made no additional investments in the company during the year.(Marks5)

ABC Co. Trial Balance December 31
Cash	SR 6,500
Accounts receivable	475
Supplies	2,500
Equipment	17,000
Accounts payable		SR745
Common stock		10,000
Retained earnings		11,155
Dividends	36,000
Revenue earned		72,000
Supplies expense	3,425
Rent expense	6,000
Wages expense	22,000
Totals	SR93,900	SR93,900

ATTACHMENTS

attachment_1

Hire a Writer

Client Reviews

4.9

Sitejabber

4.6

Trustpilot

4.8

Our Guarantees

100% Confidentiality

Information about customers is confidential and never disclosed to third parties.

Original Writing

We complete all papers from scratch. You can get a plagiarism report.

Timely Delivery

No missed deadlines – 97% of assignments are completed in time.

Money Back

If you're confident that a writer didn't follow your order details, ask for a refund.

New to Best Custom Essay? Sign up & Save

Calculate the price of your order

Type of paper needed:

Pages:

You will get a personal manager and a discount.

Academic level:

We'll send you the first draft for approval by at

Total price:

$0.00

Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.

Power up Your Study Success with Experts We’ve Got Your Back.

Order Now Order Now