Posted: February 16th, 2022





                                                  RECORDING BUSINESS TRANSACTION

Table of Contents

Part A.. 2

Part B.. 4

References. 9



Part A

1. The steps that have been required for starting a new business as a decorator in the UK are as follows: 

a) Begin Model of Business

Every model operates distinctly and habitually in distinct settings. Hence, it has been considered a sense to speak with several owners of the shop so that they can be able to acquire their perspectives on the advantages and disadvantages of one another. In addition to that, a talk with a particular business coach has been required in this case. Moreover, the industry mentor to whom one can trust or veteran can be consulted in this context (Suresh and Gopakumar, 2021)

b) Generation of a Plan for Business

It has been observed that there are several owners of small businesses who do not have an accurate business plan as there has a requirement of enormous anticipation and designing. This has been considered as difficult specifically at the time of the beginning of a business (Li et al. 2021). The business plan should have to answer several questions as What are the services that will be offered? Who is the target purchaser? What are the requirements of the target purchaser? What is the online address of the target purchaser? How does an entrepreneur match the efforts of marketing with the content of the customers who have been targeted?

If there has been a requirement of assistance for the efforts of marketing, then it has been offered by the Small Business Administration of the US in either free of cost or the services are of minimal prices for the planning of business, advice for the startup, as well as, guidance for application of loan. In addition to that, an entrepreneur should scrutinize a skilled decorator who is already an owner of a shop, or a business trainer by whom a sort of guidance can be acquired by an entrepreneur through the whole process of planning.

c) Acquiring Logo

Since an entrepreneur has to be included in a business of branding, there has been a requirement of the logo. Hence, if there has no logo for the business which is going to begin, the entrepreneur should one or any designer should be hired for the same.In addition to that, it should be kept in the mind of the entrepreneur that business cards should be ordered, brochures, items related to stationery, orders of work, as well as, invoices that are both print and electronics and they should contain a logo as it is a must. In addition to that, the logo should be stitched or should be printed on hats, T-shirts, hoodies, or jackets. If this should be done, then the popularity of the business of the entrepreneur (Rodríguez Oconitrillo et al. 2021).

d) Structuring of Website

The customers reside within digital space and hence, it is very easy to connect with them freely and in a stress-free manner. The entrepreneur should utilize the sites which consist of Facebook, Instagram, LinkedIn, as well as, Twitter as these sites can be able to expand the visibility of the business (Gonzalez-Valle et al. 2021).


2) London Stock Exchange Company- Alfa Financial Software

The group of Alfa Financial Software  disclosed to peripherals is referred to be a brand in the worldwide  for assembling prosperous affluent commodities, its salesperson, and the dealers  of the goods. The Group has its consent in the favour of third parties for fabricating and allocating the products by the utilization the trademarks for Alfa Financial Software. All the organization that have been consisted of Group have been commanded by  Alfa Financial Software which has straight and accidental connections. An intermingled configuration of the commercial statements for the Group has been exhibited as per the international standards for finance in corroboration with the requirements of the Companies Act for the year 2008 and also the Standards for the International form of the Financial Reporting adopted by Regulation No. to be 1606/2002 as it has been especially applied to the Unions for Europeans. The amalgamated kinds of economic statements are known to be IFRSIC or stretched to be IFRS Interpretations Committee and are part of the Act for Companies 2007 which are surely relevant to the organizations .

The brand of  Alfa Financial Software has been obtaining the revenue type from the contracts to the customers involved in the project. The retail types of purchases are being paid based on the terms of the credits for a short time. The groups for   Alfa Financial Software have acquired revenues with the licenses which are majorly released for the third parties for the manufacture of and selling the products. The circumstance is that entire products should carry the hallmark of Aviation. This is done to demonstrate that the products are sumptuously made by  Alfa Financial Software. The revenue states that if the Value Added Tax and the sales-related taxes then a chief distinction will be acquired in the computation of the revenue. These standards of revenue are distinguished into Retail and Wholesale forms revenue. In the case of the revenues of the retail, as well as, wholesale, the major performance for the dedicated is the primary target for shifting the sumptuous commodities to the customers.

Part B


 Maurice & Brothers have accepted a credit of 12,400 Euro from Santander Bank and it has been put down in the bank account of Maurice & Brothers. On 2nd August 2021, the debt has been received from the bank. On 3rd August 2021, the amount that has been withdrawn from the bank account is 2,800 Euro to cash within the hand. On 4th August 2021, Maurice & Brothers have bought a specific pre-owned Van and the cheque that has been paid by Maurice & Brothers is 6,200 Euro. On 5th August 2021, accessories of the office have been purchased from Sharp Office Limited for amount of 3,400  Euro by Maurice & Brothers. Moreover, 1,000 Euro has been paid by them with the help of issuance cheque and that value of the fixtures which they have been unable to clear at that time has remained as credit. On 8th August 2021, a new Van has been purchased from Toyota Co., which is based on the credit of amount 8,700  Euro. On 15th August 2021, they had purchased the fixtures for their office and has paid in cash of 110 Euro. On 19th August 2021, Maurice & Brothers have paid an entire amount that has been left as debt for the new Van which this company has purchased from Toyota Co. and the amount that has been cleared is  8,700  Euro. On 25th August 2021, this company has deposited 430 euros in cash into their bank account. On 28th August 2021, the fixtures for their office has been purchased by them through their bank account for 750 Euro. 

b) The Trial Balance for the company, Maurice & Brothers have been extracted on 31st August 2021. This has been shown in the table below:




Trial Balance as of 31st August 2021 of Maurice & brothers
      Amount in Euros 
  Particulars    Debit  Credit
  Capital a/c     80000
  Office fixtures 1200    
  Sharp Ltd 3400    
  cash 110    
  bank 750 5760  
  Van A/c 32000    
  bank 6200    
  Toyota co 8700 51900  
  Bank A/c (After necessary Adj.)   22140  
  Cash A/c (After necessary Adj.)   4000  
  Santander Bank Loan A/c     3200
  Sharp Ltd     8000
      84800 84800



It has been evaluated from this Trial Balance that the amount that has been invested for office fixtures is 1200 Euro at first. As it has been purchased from Sharp Limited, the amount that has been cleared to it is 1000 Euro. However, it has been purchased for 3400 Euro. It has been cleared later first by cash of amount 110 Euro and later by a bank of amount 750 Euro. The overall debt that has been collected from the data of Trial Balance is 5560 Euro. The credit that has been done by the purchase of accessories of office is of amount 60,000 Euro. The purchase of the van by this company of amount 32,000 Euro has been cleared in part by bank 6200 and then the payment has been done by them in cash to Toyota Co. Two consecutive payments of 8700 Euro have been made and the debit for this is 49,900 Euro. The remaining debt that has been there in the bank account after the purchase is 32180 euros. The debited cash that remains is of amount 2840 Euro. On the other hand, there has been credit for Loan Account for Santander Bank and the amount is of 18,800 Euro and that of Sharp Ltd is 6,000 Euro. 





The trading and profit and loss statement of B Moore for the month of September 2021 is listed below.


B Moore            
Trading , Profit, and Loss statement during 30th September 2021
Particulars Amount (In Pounds)   Particulars Amount (In Pounds)
Trading Account
To Opening Stock   20000.00   By Sales 100000.00  
To Purchase 120000.00           Fewer Sales Return 4500.00 95500.00
    Less: Return Outwards 800.00 119200.00        
To Carriage Inwards   900.00   By Closing Stock    
To Wages & Salaries   15000.00        
        By Gross Loss    55500.00
Total   151000.00   Total   151000.00
Profit and Loss Account             
To Gross Loss B/d    55500.00   By Net Loss   69930.00
To Carriage Outwards   700.00        
To Motor Expenses   1500.00        
To Rent   9000.00        
To Telephone  Expenses   900.00        
To Insurance   1130.00        
To office Expenses   900.00        
To Sundry Expenses   300.00        
Total   69930.00   Total   69930.00


The company’s opening stock is 20000 euros, with a purchase price of 120000 euros, and the wage and carried inwards are respectively 15000 and 900 euros. As a result, the total of trending accounts has been debited by 15100 euros. Simultaneously, the company’s sales total 100000 euros, with a profit of 4500 euros, while the company’s gross loss totals 55500 euros (Suresh and Gopakumar, 2021). In addition, the trial balance’s total credit side totals 151000 euros. When all of the expenses in the profit and loss account are added together, the total comes to 69930 euros, resulting in a net loss of 69930 euros for the company. When we compare it to the profit and loss statement form 2020, we can see that the loss has increased.



B Moore
Balance Sheet as on 30.09.2021
Liabilities Amount (In Pounds)   Assets Amount (In Pounds)
B Moore’s Capital 160000.00     Car   30000.00
Less : Drawings 8500.00     Fixtures & Fittings   16570.00
Less: Net Loss  69930.00 81570.00   Accounts Receivable Drs   9000.00
Accounts Payable (Creditors)   15000.00   Cash at Bank   40000.00
        Cash in Hand   1000.00
Total   96570.00   Total   96570.00


The balance sheet for September 30, 2021 has been produced, and it plainly shows a net loss of 69930 euros. Still, by 2022, there is a chance that the company’s profit will improve because it has enough assets and the position of Covid-19 is improving, which might lead to increased sales and profit.



Gonzalez-Valle, C.U. and Ramos-Alvarado, B., 2021. Molecular Dynamics Simulations of Wettability, Thermal Transport, and Interfacial Liquid Structuring at the Nanoscale in Polar Solid-Liquid Interfaces. ACS Applied Nano Materials, 4(4), pp.3821-3832.

Li, F., He, C. and Qiao, G., 2021. Attributes that form romantic travel experience: a study of Chinese Generation Y tourists. Current issues in tourism, 24(15), pp.2130-2143.

Rodríguez Oconitrillo, L.R., Vargas, J.J., Camacho, A., Burgos, Á. and Corchado, J.M., 2021. RYEL: An Experimental Study in the Behavioral Response of Judges Using a Novel Technique for Acquiring Higher-Order Thinking Based on Explainable Artificial Intelligence and Case-Based Reasoning. Electronics, 10(12), p.1500.

Suresh, M. and Gopakumar, K., 2021. Multi-grade fuzzy assessment framework for software professionals in work-from-home mode during and post-COVID-19 era. Future Business Journal, 7(1), pp.1-9.





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