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ASSETS BALANCE SHEET LIABILITIES

CASH 1.247.280 BANK LOAN 200.000


BANK 816.000 ACCOUNT PAYABLE 22.480
LAND 500.000 CAPITAL 100.000
CHEQUES GIVEN (-) - 1.227.200 RETAİNED EARNİNG 1.631.250
CHEQUES RECEIVED 900.000 NET LOSS - 105.500
OFFICE SUPPLIES 15.000 NET İNCOME 469.750
PREPAİD RENT 8.000 TAX PAYABLE 66.600
PREPAİD INSURANCE 4.000
INVENTORY 48.000
MOTOR VEHICLE 60.000
ACC.DEP.FOR AUTO (-) - 12.500
FURNİTURE 36.000
ACC.DEP.FOR FURNITURE (-) - 10.000
TOTAL 2.384.580 TOTAL 2.384.580
Note: Inventory (96 x 500=) 48.000 TL

WAL MART Company is buying and selling strollers. The followinsg events took place on between in November
2011.

1- Tax belonging to October was paid (66.600 TL)

2- The company collected a cheque via Garanti Bank 900.000 TL

3- The company paid cheque via Garanti Bank 1.227.200TL

4. On October 1, 2011 The company buys BJK A.Ş stock from İMKB (300.000 shares, market stock price for per
share 2 TL). Company Paid 1.000 TL commission.

5- Remember, the company recruited the firm rented a working place from Kentpark Management on 1 January 2011,
and paid twelve 12 months’ rent 48.000 TL.

6- Remember, the company paid interest expense of 17.000 TL and a monthly the principal of payment is 100.000
TL. (They were paid the end of November)

7- Remember, the company insured its properties, effective from 1 January to 31 December 2011, and paid an insurance
premium of 24.000TL for the whole period of insurance.

8-During November, the company purchased 9.000 strollers from Babies"R"Us Cooperation for 850.000 TL (tax
excluded) and paid transportation expense for 14.000 TL (tax excluded). All cost would be paid later. (Company gives a
cheque 1.019.520 TL) (value-added tax rate is % 18)

9- During November, The company sold 8.500 strollers for 1.200.000TL for which 1.416.000 TL. Strollers would be
paid later. (Company gets a cheque 1.200.000 TL) (value-added tax rate is % 18)

10- At the End of October, the Company paid salaries of 25.000TL to various employees.

11- During November, the company bought a fuel for 2.360TL. (Tax included) (paid cash)

12- Useful life for truck is 4 years, and for furniture 3 years.

Required: 1-Prepare the journal entries in the general journal and post them to the ledger

2-Prepare balance sheet