Please check the formatting before submitting the work. Each recording should be properly labelled and all work clearly presented.

Required: Open the accounts and register all of the accounting operations using costs by nature approach. After recording all transactions close all accounts.

Balance sheet of the company Gama as at 01.12.200X:

ASSETS		EQUITY & LIABILITIES
Property, plant & equipment	50 000	Share capital	50 000
Traded goods*	6 500	Bank loan	15 000
Trade receivables	3 500
Cash at bank	5 000
Total assets	65 000	Total equity and liabilities	65 000

*130 traded goods at a value of 50/each

In December the following accounting operations occurred:

1. 100 units of traded goods were sold at a price of 72. The goods were transported and delivered to the client.
2. Company repaid by bank money transfer an installment of 3 000 of a loan.
3. The company recorded depreciation of 10 000.
4. The company received a bill for electricity for December. The bill will be paid in January.
5. Financial result for the month of December was calculated by closing expense and revenue accounts.