Basics of accounting

Basics of accounting - Written examination

Exam subject_ 1_ 19_06_2020

1. (3p.) Determine the value of equity and intangible assets taking into consideration the
following items:
a. Suppliers 3,000 lei;
b. Patents 2,000 lei;
c. Cash at bank 500 lei;
d. Customers 3,500 lei;
e. Packaging 100 lei;
f. Capital 30,000 lei
g. Goodwill 3,000 lei;
h. Reserves 1,500 lei;
i. Sundry creditors 5,300 lei;
j. Current profit 15,000 lei;
k. Letters of credit 4,600 lei;
l. Development costs 500 lei;
m. Goods purchased for resale 20,000 lei;
n. Buildings 20,000 lei;
o. Consumables 600 lei;
p. Premium related to capital 1,000 lei;
q. Licenses 100 lei.

2. (3p.) Prepare de balance sheet (in form of list or table) and the profit and loss account
for Company “A”, at 31.12.2019, given the information below:
- maintenance expenses (account 611) = 2,000 lei;
- suppliers (account 401) = 35,000 lei;
- raw materials (acc. 301) = 1,000 lei;
- revenues from research (acc.705) = 10,000 lei;
- cash at bank (acc. 5121) = 10,500 lei;
- revenues from selling merchandise (acc. 707) = 15,000 lei;
- buildings (acc. 212) = 150,000 lei;
- capital (acc. 101) = 10,000 lei;
- transport expenses (acc. 624) = 3,000 lei;
- long term credit (acc. 1621) = 100,000 lei;
- reserves (acc. 106) = 4,000 lei;
- merchandise (acc. 371) = 3,000 lei;
 Basics of accounting

- revenues from interest (acc. 761) = 30,000 lei;

- software (acc. 208) = 500 lei;
- current profit (acc. 121) = 21,000 lei;
- customers (acc. 4111) = 5,000 lei.

3. (3p.) In January 2020 Company record in accounting the following transactions:

- Company purchase raw materials in value of 500 lei;
- The supplier is paid through bank account in value of 1,000 lei.
Prepare the “T” account for Cash at bank (5121) and for suppliers (401).