Assuming that on 1/1/2021 your trading company has been established and the company has completed its first fiscal year.
Answer the following
• Formulate two different financial operations for each month, starting from the establishment of the company to the end of the first fiscal year?
• Make the necessary daily entries for all previous operations? (
• Post the operations to the ledger and prepare the trial balance?
• Prepare the following financial statements (income statement, statement of financial position, statement of changes in equity)

Answer rating: 100% (QA)

An income statement is one of the three important financial statements used for reporting a companys financial performance over a specific accounting period The other two key statements are the balanc... View the full answer