Create an account opening and record accounting debits and credits for each business transaction. Also, create closing

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Create an account opening and record accounting debits and credits for each business transaction. Also, create closing accounts for profit and loss accounts and prepare an income statement and balance sheet.

John's garden,

1st financial year

1 The owner invests € 4,500 in the company and transfers the amount to a checking account.

2 Purchase office supplies in cash with the owner's own money € 50.

3 The rent for a commercial apartment is paid from a checking account € 470.

4 Withdraw € 500 from the checking account to the company's cashier.

5 Purchase store equipment for € 1,500 according to the invoice.

6 Purchase sales products from FlorAccess € 3360.

7 An advertisement for the local newspaper is paid for at € 50 at checkout.

8 Cash sales of € 1,200 are recorded. 9 Pay for store equipment from a checking account.

10 The company withdraws a loan of € 5,000 to a checking account.

11 Goods for sale with an invoice of € 1600

12 Transfer money from the cashier to the bank checking account. Only € 250 left at the base.

13 The interest on the loan is paid from the checking account of € 150.

John's Garden

2nd financial year

1 Cash sale of 1600 € is recorded.

2 Payment will be made from the sales invoice 1600€ to the checking account.

3 FlorAccess Ltd's purchase invoice of € 3360 is paid from a checking account.

4 Rent for a commercial apartment is paid € 470 from the cash register.

5 Plants are purchased from GardenShop ltd (5400 €)

6 Plants are sold and an invoice of € 1,400 is sent to the customer.

7 John pays € 500 for his home's household supplies from the company's checking account.

8 The money is taken from the cashier to the bank and left € 250 as the base cashier.

9 The installment of the bank loan (700 €) and the interest (€ 150) are paid from the checking account.

3rd financial year

1 The rent of 470 € for the commercial apartment is paid from a checking account. 2 The trade payable is paid to FlorAccess ltd from a checking account. 3 John is still investing € 4,000 in the company's current account. 4 Purchase products from GardenShop ltd (invoice) € 5700. 5 Products are sold and invoices are sent to customers for a total of € 3,700. 6 Cash sales of € 2,500 are recorded. 7 A bank loan of € 10,000 is drawn down, and the money is deposited in a checking account. 8 Purchase a commercial apartment building for € 15,000, payable from a checking account. The building's estimated useful life is 30 years. 9 Receipt of sales invoice 1400€ to the checking account. 10 Let's transfer the money from the cashier to the checking account, leaving € 250 as the base cashier. 11 Rental income to the bank € 400. 12 A loan repayment of € 700 and interest totaling € 450 from a checking account will be paid.

You will need the following accounts: inventory, accounts receivable, (overdraft) checking account, cash, equity, loans, accounts payable, sales, purchases, rental expenses, advertising expenses, office expenses, interest expenses, private use, inventory, inventory change, inventory removal, building, demolition of the building, private investment and rental income. - Depreciation of the equipment is recorded for € 375/year.