Balance sheet of the company Juve on 1 December 2021 ASSETS Property, plant & equipment* EQUITY...

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Balance sheet of the company Juve on 1 December 2021 ASSETS Property, plant & equipment* EQUITY & LIABILITIES 100 000 Share capital 100 000 Traded goods** 12 000 Long-term bank loan 20 000 Trade receivables 6000 Trade payables 20 000 Cash in bank account 22 000 Total assets 1000 units at a price of 12 140 000 Total equity and liabilities 140 000 *Relating accumulated depreciation 20 000. In December the following accounting operations occurred: 1. On Dec. 5th the company paid by bank money transfer real estate tax in the amount of 900. 2. On Dec. 7th the company received an invoice for water and electricity usage in the amount of 2400. The invoice will be paid later in December. 3. On Dec. 9th the company signed an agreement with a new store manager who will begin work on Dec. 14th. The monthly salary of the manager is 5 200. 4. On Dec. 12th the company sold 100 units of traded goods at a 18. The invoice will be paid by customer next month. 5. On Dec. 16th the company delivered traded goods to the customer. Customer paid for transport but company paid an additional 100 for insurance in transit. 6. On Dec. 20th the company repaid 5 000 of its trade payables by bank money transfer. 7. On Dec. 23rd the company purchased a marketing campaign to be air on TV between Christmas and New Year. The cost of 10 000 will be paid in 2 installments. 5 000 was paid immediately by bank money transfer and the remaining part will be paid in January. 8. On Dec. 28th the company paid the invoice for water and electricity usage (see transaction 2). 9. On Dec. 29th the company received a bill for telecommunication services in the amount of 820. Bill was immediately paid by bank money transfer. 10. On Dec. 31st the company accrued and paid the salary for % month to the store manager. Required: a) Open the accounts and register all of the accounting operations, considering costs by nature. b) Calculate profit or loss. c) Close the accounts and prepare the closing balance sheet as at 31 December 2021. Balance sheet of the company Juve on 1 December 2021 ASSETS Property, plant & equipment* EQUITY & LIABILITIES 100 000 Share capital 100 000 Traded goods** 12 000 Long-term bank loan 20 000 Trade receivables 6000 Trade payables 20 000 Cash in bank account 22 000 Total assets 1000 units at a price of 12 140 000 Total equity and liabilities 140 000 *Relating accumulated depreciation 20 000. In December the following accounting operations occurred: 1. On Dec. 5th the company paid by bank money transfer real estate tax in the amount of 900. 2. On Dec. 7th the company received an invoice for water and electricity usage in the amount of 2400. The invoice will be paid later in December. 3. On Dec. 9th the company signed an agreement with a new store manager who will begin work on Dec. 14th. The monthly salary of the manager is 5 200. 4. On Dec. 12th the company sold 100 units of traded goods at a 18. The invoice will be paid by customer next month. 5. On Dec. 16th the company delivered traded goods to the customer. Customer paid for transport but company paid an additional 100 for insurance in transit. 6. On Dec. 20th the company repaid 5 000 of its trade payables by bank money transfer. 7. On Dec. 23rd the company purchased a marketing campaign to be air on TV between Christmas and New Year. The cost of 10 000 will be paid in 2 installments. 5 000 was paid immediately by bank money transfer and the remaining part will be paid in January. 8. On Dec. 28th the company paid the invoice for water and electricity usage (see transaction 2). 9. On Dec. 29th the company received a bill for telecommunication services in the amount of 820. Bill was immediately paid by bank money transfer. 10. On Dec. 31st the company accrued and paid the salary for % month to the store manager. Required: a) Open the accounts and register all of the accounting operations, considering costs by nature. b) Calculate profit or loss. c) Close the accounts and prepare the closing balance sheet as at 31 December 2021.

Answer rating: 100% (QA)

a Open the accounts and register all of the accounting operations considering costs by nature 1 Real estate tax payment Debit Real Estate Tax Expense ... View the full answer