Question: Please help me to do it as the Required below,thanks. The balance sheet of the company ABC as at 1.01.2020: ASSETS EQUITY & LIABILITIES Long-term
The balance sheet of the company ABC as at 1.01.2020: ASSETS EQUITY & LIABILITIES Long-term investments (art) 22 000 Shareholders' equity 20 000 Inventory (1600 units 5 per 4000 Liabilities 4000 unit) Cash and cash equivalents 4000 Accrued cost 6 000 Total assets 30 000 Total equity & liabilities 30 000 * An estimated cost of office renovation In January 2020 the following events occurred (costs by nature applied): 1 The office renovation was finished. The final invoice for the work amounted to 7 200 The company sold on deferred payment, 800 units at 7 per unit. 3. The company set up a warranty provision 5% of sales value. The company purchased company Betax company. Assets of Betax 80 000, liabilities 62 000, paid (in cash) 38 000, Resuirest 1. Open the T-accounts based on the Balance Sheet data. 2. Record all transactions in T-accounts and close all accounts on 31.01.2020. Calculate the amount of net income / (loss). 2. 4
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