We have to solve these required for the transaction below

WE ARE REQUIRED TO SOLVE THESES ( ITS CALCULATION QUESTION NOT EXPLAINING )

Step 5 Accounting Cycle Journalize and Post Adjustments

You are requested to Performing adjusting the assumed transactions for your chosen business during the month of August 2020!

Step 6 Accounting Cycle- Laying down adjusted trial balance

You are requested to Laying down adjusted trial balance the assumed transactions for your chosen business during the month of August 2020!

Step 7 Accounting Cycle Prepare Financial Statements

You are requested to Prepare Financial Statements the assumed transactions for your chosen business during the month of August 2020!

Step 8 Accounting Cycle- Book Closing

You are requested to Book Closing the assumed transactions for your chosen business during the month of August 2020!

Step 9 Accounting Cycle-Post-closing trial balance

You are requested to Post-closing trial balance the assumed transactions for your chosen business during the month of August 2020!

Ledgers Cash a/c Date Particulars J.F Amount Date Particulars J.F Amount 1/08 To capital $100,000 2/08 $20,000 Equipment 15/08 To sales $25,000 20/08 By creditors $20,000 25/08 By rent $10,000 30/08 By salary $10,000 $65,000 By balance c/d $125,000 $125,000 Capital a/c Date Particula J.F Amount Date Particulars J.F Amou 1/08 By capital $100,000 To balance c/d $100,000 $100,000 $100,000 Equipment a/c Date Particulars J.F Amount Date Particulars J.F Amount 5/08 To cash $20,000 By balance c/d $20,000 $20,000 $20,000 Purchase a/c Date Particulars J.F Amount Date Particulars J.F Amount 10/08 To creditor $20,000 By balance c/d $20,000 By balance c/d $20,000 $20,000 $20,000 Creditor a/c Date Particulars J.F. Amount Date Particulars J.F Amount 20/08 To cash $20,000 $20,000 10/08 By purchase $20,000 $20,000 Sales a/c Date Particulars J.F Amount Date Particulars J.F Amount 15/08 | By cash $25,000 To balance c/d $25,000 $25,000 $25,000 Rent a/c Date Particulars J.F Amount Date Particulars J.F Amount 25/08 To cash $10,000 By balance c/d $10,000 $10,000 $10,000 Salary a/c Date Particulars J.F Amount Date Particulars J.F Amount 30/08 To cash $10,000 By balance c/d $10,000 $10,000 $10,000 Step 4 Trial balance Particulars Debtit Credit Cash $65,000 Capital $100,000 Equipment $20,000 Purchase $20,000 Sales $25,000 Rent $10,000 Salary $10,000 Total $1,25,000 $1,25,000 Solution: I am assuming here some of the business transactions as below: Aug 1 Business started with Capital $ 100,000 Aug 5 Equipment purchased with cash $ 20,000 Aug 10 Goods purchased on account $ 20,000 Aug 15 Goods sold on cash $ 25,000 Aug 20 Cash Paid for Goods purchased on 10 august $ 20,000 Aug 25 Cash paid for Rent $ 10,000 Aug 30 Salaries paid to staff $ 10,000 now lets see impact on accounting Equation of above transactions. Accounting Equation Equipment Equity Liability Capital Retained earnings + Accounts payable = 1,00,000+ + 20,000 + + + + + 20,000 Assets Cash + Account receivables + Aug-01 | 1,00,000+ Aug-05 -20000 + Aug-10 Aug-15 25,000 + Aug-20 -20,000 Aug-25 -10,000 Aug-30 - 10000 Total 65,000 -20,000 25000 + + + + -20000 + + + -10000 -10000 -15.000 + 20,000 1,00,000 Ledgers Cash a/c Date Particulars J.F Amount Date Particulars J.F Amount 1/08 To capital $100,000 2/08 $20,000 Equipment 15/08 To sales $25,000 20/08 By creditors $20,000 25/08 By rent $10,000 30/08 By salary $10,000 $65,000 By balance c/d $125,000 $125,000 Capital a/c Date Particula J.F Amount Date Particulars J.F Amou 1/08 By capital $100,000 To balance c/d $100,000 $100,000 $100,000 Equipment a/c Date Particulars J.F Amount Date Particulars J.F Amount 5/08 To cash $20,000 By balance c/d $20,000 $20,000 $20,000 Purchase a/c Date Particulars J.F Amount Date Particulars J.F Amount 10/08 To creditor $20,000 By balance c/d $20,000 By balance c/d $20,000 $20,000 $20,000 Creditor a/c Date Particulars J.F. Amount Date Particulars J.F Amount 20/08 To cash $20,000 $20,000 10/08 By purchase $20,000 $20,000 Sales a/c Date Particulars J.F Amount Date Particulars J.F Amount 15/08 | By cash $25,000 To balance c/d $25,000 $25,000 $25,000 Rent a/c Date Particulars J.F Amount Date Particulars J.F Amount 25/08 To cash $10,000 By balance c/d $10,000 $10,000 $10,000 Salary a/c Date Particulars J.F Amount Date Particulars J.F Amount 30/08 To cash $10,000 By balance c/d $10,000 $10,000 $10,000 Step 4 Trial balance Particulars Debtit Credit Cash $65,000 Capital $100,000 Equipment $20,000 Purchase $20,000 Sales $25,000 Rent $10,000 Salary $10,000 Total $1,25,000 $1,25,000 Solution: I am assuming here some of the business transactions as below: Aug 1 Business started with Capital $ 100,000 Aug 5 Equipment purchased with cash $ 20,000 Aug 10 Goods purchased on account $ 20,000 Aug 15 Goods sold on cash $ 25,000 Aug 20 Cash Paid for Goods purchased on 10 august $ 20,000 Aug 25 Cash paid for Rent $ 10,000 Aug 30 Salaries paid to staff $ 10,000 now lets see impact on accounting Equation of above transactions. Accounting Equation Equipment Equity Liability Capital Retained earnings + Accounts payable = 1,00,000+ + 20,000 + + + + + 20,000 Assets Cash + Account receivables + Aug-01 | 1,00,000+ Aug-05 -20000 + Aug-10 Aug-15 25,000 + Aug-20 -20,000 Aug-25 -10,000 Aug-30 - 10000 Total 65,000 -20,000 25000 + + + + -20000 + + + -10000 -10000 -15.000 + 20,000 1,00,000