The data of the commercial enterprise OMIKRON SA on 30/11/2020 were the the following (amounts in ):
Question:
The data of the commercial enterprise OMIKRON SA on 30/11/2020 were the
the following (amounts in €):
Buildings 30,000 -
Mechanical equipment 4.000 -
Goods (Starting goods) 19.500 -
Customers 3,000 -
Bills Receivable 5,150 -
Cheques Receivable 2,500 -
Staff advances of 1,000
Fund 9,500 -
Sight deposits 13,500 -
Capital - 25,000
Bank loans - 31,500
Suppliers - 10,750
Bills Payable - 11,300
Cheques Payable - 6,000
Tax and duty (VAT) liabilities - 3,600
Requested:
1. The balance sheet of the company should be drawn up on the basis of the above data.
according to the ELP.
2. Make the registration open.
3. Enter the following transactions in the month's calendar
December:
3.1. Collects from the OMIKRON customer for post-dated payment cheque 1.500€ in cash (Receipt of collection N. 345).
3.2. Sale of goods to PETROU S.A. for a value of 20.000€ plus 24% VAT with 1/2 with bank transfer and the balance with exchange maturity 15/3/2021 (Tim. N. 46).
3.3. Purchase of goods worth 6.000€ plus 24% VAT from ELIT LTD. with the following settlement: 1/3 with cash, 1/3 with bill of exchange and the balance with credit. (Tim. N. 92).
3.4. The customer IRIS EO will deposit 12.000 € to the current bank account for a deposit of sale of goods.
3.5. Rents a business premises and pays three months' rent (December-February) 3.000 € by bank transfer.
3.6. Repays part of the loan amounting to 4.000€ and the corresponding interest 500€ through the current account.
3.7. Pays for payment of a telecommunications bill 620 € to Q9 (tim. N. 723) through the current account. The invoice value 24% VAT is included.
3.8. Pays current year's premiums of €1,000 plus 24% VAT (tim. N. 409 ASFALISTIKI) with cash payment.
3.9. The payroll for the month of December is as follows: gross remuneration of 2.000€, employer's contribution for insurance funds of 20%, employees' contribution in favor of insurance funds 10%, and FMI 250 €. Pays directly the balance of net earnings through the current account with offsetting of the advance payment.
3.10. Pay to ENGINEER FOR MAINTENANCE OF THE MECHANICAL equipment amount 500 € plus VAT 24% (price N. 145) with cash payment.
4. Draw up the provisional balance.
5. Make the closing entries with the following data:
5.1. Rents of the months are entered in the bill January and February of the following year.
5.2. The invoice of Law 235 of CHRIST has not been registered for study sales worth 5.000€ plus 24% VAT which is settled in cash. A 20% tax is withheld on the fee.
5.3. Maintenance costs of the mechanical equipment are due for the last quarter of €1,500 which has not yet been invoiced.
5.4 Clears the VAT of the month of December through the account Sight.
5.5. Depreciation amounts to 5% for buildings and 10% for buildings' mechanical equipment.
5.6. Goods were found during the inventory (final stock) 18.000 €
6. Draw up the adjusted balance sheet.
7. Make the records determine the result of the use.
8. Calculate the cost of sales and the gross result.
9. Draw up the final balance sheet.
10. Make the writings a key
11. Draw up the balance sheet at the end of the year__