Assumptions: 1. Zosia sets up a company. She brings in a share capital of 300,000 in...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Assumptions: 1. Zosia sets up a company. She brings in a share capital of 300,000 in cash. Zosia deposits part of the cash into a company account - 150,000, to be exact. 3. A contract for accounting services has been signed. 2. Zosia received the first invoice for accounting services - 2000, payable in 2 weeks by wire transfer. Zosia purchased 2 truckloads from China with computers that she intends to sell. The goods arrived to her, and she took them into storage. The value of 1 pcs. Computer - 2000, she bought 300 pcs. She received an invoice to be paid within 20 days. 6. The sale of the first batch of goods was made-sold 50 pcs. Computers, the price of 1 pcs-400. A sales invoice was issued, and the due date for payment is 14 days. An account receipt was received from op. 6. Additional services sold-advertising services on social media. An invoice for the amount of 10,000 was issued. Invoice payable by wire transfer within 10 days. 4. 5. 7. 8. 9, An invoice has been received for another commodity taken into stock. Total value: 30000. 100 computers. The invoice was paid in cash. Task: make a balance sheet and income statement and think about the value of the tax Zosia will pay. What options does she have? At this point, she keeps full books of account, but do you remember what other options there were for accounting for small businesses in Poland? Assumptions: 1. Zosia sets up a company. She brings in a share capital of 300,000 in cash. Zosia deposits part of the cash into a company account - 150,000, to be exact. 3. A contract for accounting services has been signed. 2. Zosia received the first invoice for accounting services - 2000, payable in 2 weeks by wire transfer. Zosia purchased 2 truckloads from China with computers that she intends to sell. The goods arrived to her, and she took them into storage. The value of 1 pcs. Computer - 2000, she bought 300 pcs. She received an invoice to be paid within 20 days. 6. The sale of the first batch of goods was made-sold 50 pcs. Computers, the price of 1 pcs-400. A sales invoice was issued, and the due date for payment is 14 days. An account receipt was received from op. 6. Additional services sold-advertising services on social media. An invoice for the amount of 10,000 was issued. Invoice payable by wire transfer within 10 days. 4. 5. 7. 8. 9, An invoice has been received for another commodity taken into stock. Total value: 30000. 100 computers. The invoice was paid in cash. Task: make a balance sheet and income statement and think about the value of the tax Zosia will pay. What options does she have? At this point, she keeps full books of account, but do you remember what other options there were for accounting for small businesses in Poland?
Expert Answer:
Answer rating: 100% (QA)
Answer 1 General guidance The answer provided below has been developed in a ... View the full answer
Related Book For
Accounting Information Systems basic concepts and current issues
ISBN: 978-0078025334
3rd edition
Authors: Robert Hurt
Posted Date:
Students also viewed these accounting questions
-
Social media has been shown to play an important role in business to consumer markets, and now is being used for assisting personal selling effort in business to business markets. Explain how...
-
A compressor brings R-134a from 150 kPa, -10oC to 1200 kPa, 50oC. It is water cooled with a heat loss estimated as 40 kW and the shaft work input is measured to be 150 kW. How much is the mass flow...
-
On June 5, 2011, Argot Corporation signed a contract with Lopez Associates under which Lopez agreed (1) to construct an office building on land owned by Argot, (2) to accept responsibility for...
-
At one time the Thames River in England supported an abundant community of fish. Pollution then destroyed all the fish in a 40-mile stretch near its mouth for a 45-year period beginning in 1915....
-
Seven years ago, Lance Murdock purchased a wooden statue of a Conquistador for $7,600 to put in his home office. Lance has recently married, and his home office is being converted into a sewing room....
-
Suppose that the service life, in years, of a hearing aid battery is a random variable having a Weibull distribution with = 1/2 and = 2. (a) How long can such a battery be expected to last? (b)...
-
If a well-behaved investment alternative's internal rate of return (IRR) is equal to MARR, which of the following statements about the other measures of worth for this alternative must be true? 1....
-
(Basic Pension Worksheet) The following facts apply to the pension plan of Boudreau Inc. for the year 2010. Using the preceding data, compute pension expense for the year 2010, as part of your...
-
18) A physician prescribes one 0.7 mg tablet of a medication to be taken twice a day for 15 days. How many total mcg of the medication will the patient have taken after 15 days?
-
Background: SO MUCH CANDY DATA, SERIOUSLYCandy hierarchy data for 2017 Boing Boing Halloween candy hierarchy. This is survey data over the span of 4-years. The data is split into 4 separate files....
-
Explain the terminologies for these roles Data Dictionary Management Data Storage Management Data Transformation and Presentation Security Management Multi user Access Control Backup and Recovery...
-
In matlab please. Array access and modification Perform all the following operations in a script using array operations! Make sure you document it properly and minimize the # of operations. Each of...
-
What is the . NET 5 and why is it important? How it is different from . NET Standard and . NET Framework? Explain.
-
The satisfaction curve (IC) and the budget constraint line (BL) are tools to show the maximization of satisfaction carried out by consumers. If BL touches the highest IC then a consumer will achieve...
-
Maximum Contiguous Subsequence Sum Problem. Let A[1..n] be an array of numbers. The elements in A can be either positive or negative. We want to find the indices k, l so that the sum P li=k A[i] is...
-
In the cleaning/ processing area why is it important to have a strict workflow when dealing with contaminated instruments.
-
Rocket Corp. is required to pay a supplier $10,000 semi-annually (every 6 months) for a total of 5 years. Rocket Corp. earns 10% annually on its other investments. What is the present value of this...
-
C- Consider the following scenario:- A supermarket needs to develop the following software to encourage regular customers. For this, the customer needs to supply his/her residence address, telephone...
-
Point your browser to the Web site of the Canadian Institute of Chartered Accountants (www.cica.ca ). Find and download Trites paper on audit and internal control issues. In consultation with your...
-
a. Companies considering utilizing an ASP might start the process by identifying a need to lower costs and increase flexibility. What other steps would a manager likely take in selecting an ASP? Who...
-
Multiple choice questions. 1. PLP Corporation maintains an electronic database file for all its vendors and purchases. Which of the following amounts would you be least likely to find in the vendor...
-
Which of the following best describes the underlying rationale for a written investment policy statement (IPS)? A. A written IPS communicates a plan for trying to achieve investment success. B. A...
-
Which of the following is least important as a reason for a written investment policy statement (IPS)? A. The IPS may be required by regulation. B. Having a written IPS is part of best practice for a...
-
Which of the following is least likely to be placed in the appendices to an investment policy statement (IPS)? A. Rebalancing Policy. B. Strategic Asset Allocation. C. Statement of Duties and...
Study smarter with the SolutionInn App