College of Administrative and Financial Sciences
Deadline: 8/10/2022@ 23:59
|Course Name:Principles of Accounting||Student’s Name:|
|Course Code: ACCT 101||Student’s ID Number:|
|Academic Year: 1444/1445 H|
For Instructor’s Use only
|Instructor’s Name: Dr Fathimunisa Hanfy|
|Students’ Grade: / 15||Level of Marks: High/Middle/Low|
Instructions – PLEASE READ THEM CAREFULLY
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)
|Accounts payable||SR 745|
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