Come up with a creative company name and describe a situation in which you are the accountant/owner for a company. Decide if your company will be a service or merchandising business and describe the goods or services that the company will be selling. State your depreciation and any other (if applicable) accounting policies. Make the assumption that the company has just started (Knowledge/Understanding)
b) Create at least 15 - 20 general business transactions of the company for the first quarter. Transactions should be formatted similar to textbook transactions. Include transactions that involve acquiring assets, liabilities, capital, drawings, revenue, expenses and adjusting entries. The transactions should be specific and should reflect as much as possible the