Title: Transactions, Ledger, Trial Balance, Adjustments, and Financial Statements in Real-time Business

Introduction:
In this guide, we will provide a detailed explanation of 25 real-time business transactions and illustrate the process of preparing a ledger, trial balance, adjustments, and financial statements. These steps are crucial in maintaining accurate financial records and analyzing the financial position of a business.

Transactions:
1. Received cash of $10,000 from the issuance of shares.
2. Purchased office equipment for $5,000 on credit from XYZ Suppliers.
3. Sold goods worth $2,500 for cash.
4. Paid $1,500 for rent expenses.
5. Received $3,000 from a customer for services rendered.
6. Purchased inventory for $4,000 on credit from ABC Suppliers.
7. Paid $500 for utilities expenses.
8. Sold goods worth $1,200 on credit to a customer.
9. Received a $1,000 loan from a bank.
10. Paid a $200 dividend to shareholders.
11. Received $800 as interest income from a bank deposit.
12. Paid $2,000 to employees as salaries.
13. Purchased a vehicle for $15,000 by issuing a check.
14. Received $2,500 from a customer for a future service.
15. Paid $500 for advertising expenses.
16. Sold goods worth $3,000 on credit to a customer.
17. Received $1,200 from a debtor.
18. Purchased furniture for $3,500 by issuing a check.
19. Paid $2,000 to creditors for previous purchases on credit.
20. Received $1,500 as a refund for overcharged taxes.
21. Paid $300 for repairs and maintenance expenses.
22. Sold goods worth $1,800 for cash.
23. Received $500 interest income from a loan given to another company.
24. Paid $1,000 for insurance premiums.
25. Received $4,000 from the sale of an old asset.

Ledger:
- Prepare a ledger with appropriate accounts such as Cash, Accounts Receivable, Accounts Payable, Capital, Inventory, Office Equipment, etc.
- Record each transaction in the respective accounts, ensuring accurate debits and credits.

Trial Balance:
- After recording all transactions in the ledger, prepare a trial balance.
- List all ledger account balances and ensure the total debits equal the total credits.

Adjustments:
1. Accrued income: Recognize revenue for services rendered but not yet received payment.
2. Prepaid expenses: Allocate expenses paid in advance to the relevant accounting period.
3. Depreciation: Account for the depreciation expense on office equipment and vehicles.
4. Bad debts: Write off any uncollectible accounts receivable as bad debts.
5. Accrued expenses: Recognize expenses incurred but not yet paid.
6. Allowance for doubtful debts: Adjust the provision for bad debts based on an estimate.
7. Stock valuation: Value the inventory based on the lower of cost or net realizable value.
8. Deferred revenue: Recognize revenue for services received but not yet earned.
9. Accrued salaries: Recognize salaries expense for work performed but not yet paid.
10. Income tax provision: Account for income tax based on applicable tax rates.

Financial Statements:
- Prepare an Income Statement by summarizing revenue, expenses, and net income.
- Create a Statement of Financial Position (Balance Sheet)

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