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Q e 1/1 C - : Accounting II Required: COLLOQIUM 01.06.2020 1/Open the accounts with opening balances (4 point). 2/Record all transactions. Costs are recorded as costs by nature only (20 points). 3/ Close all accounts, show their ending balances and calculate profit or loss for the end of January according to costs by nature structure in the Profit/(loss) account. (6 points). The balance sheet of the company JUMPEX as at 1.01.2018 is as follows: ASSETS Long-term investment Inventory EQUITY & LIABILITIES Shareholders' equity office materials traded goods Accounts receivable Short-term investment Cash and cash equivalent 10 000* Share capital 44 000*** 20 000 Supplementary capital 16 000*** 30 000 Net profit 50.000 Long-term bank loan 20 000 5.000** Accounts payable 40 000 25.000 Salaries payable 20 000 140 000 Total equity & liabilities 140 000 Total assets *Long-term investment includes shares of Company Alfa 125 shares at $80. ** Short-term investment includes shares of Company Foxtrot 50 shares at $100. *** In 2010, 20 000 shares were issued at a nominal price of 2,20 and issue price of 3. All share capital was paid for. In January, 2018 the company noted the following economic transactions: 1. Company sold 50 shares of Foxtrot company for $90 per share. 2. Company paid off a bank loan-3 000 and additional 2000 as an interest payment. 3. Traded goods worth 10.000 were delivered to the client and sold for 16 000. 4. Company received a prepayment from the client for future delivery of goods 21 000. 5. Company paid 6000 for property insurance for the year 2018. At the end of January part of insurance cost was recorded. 6. Company calculated and recorded bad debt expense - 3.500. 7. Company received water bill 1 500. Water was used by the administrative building and the bill will be paid next month. 8. Company issued 5 000 new shares at a nominal value of 2.20 and issue price of 4. All care capital was paid. The capital will be used to buy a new car. 9. Company bought a used lorry to 18 000 with cash. 10. Company valued shares of Alfa company at fair value for $105 per share.