Assignment 6

Book the following transactions. Balances brought down (figures in the last balance sheet): Bank account 8000, Cash 3000, Equity 13000, Loans 7000, Stock 3000 and Equipment 6000
Accounts: Bank account, Cash, Equity, Purchases, Sales, Telephone, Rent, Accounts payable, Account Receivable, Stock, Change in stock, Equipment, Depreciation expense, Input VAT, Output VAT, VAT payable
1. Purchases in cash for the financial period: 2200 e+ 14% VAT _308 = 2 508_e
2. Sales in cash for the financial period: 3900 e + 14% VAT 546 ______ = 4 446 e
3. Purchases paid from bank account for the financial period: 6200 e+ 14% VAT 868 = __7068_____ e
4. Sales paid to bank for the financial period: 7900 e + 14% VAT 1106 = __9006__ e
5. Purchases on account: 5000 e + 14% VAT __700__ = __5700__ e.
6. Sales on account: 8000 e + 14% VAT _1120__ = __9120_____ e.
7. Paid 600 e + 24% VAT __144____ = ___744____ e rent in cash.
8. Paid 200 e + 24% VAT __48____ = ___248____ e telephone bill from bank account.
9. Stock is worth of 3500 e in the end of accounting period.
10. Depreciate 25 % of the equipment.

CASH PURCHASES 14% INPUT VAT SALES 14% BANK LOANS EQUIPMENT EQUITY STOCK CHANGE IN STOCK DEPR.EXPENSE OUTPUT VAT VAT PAYABLE RENT TELEPHONE BILL ACCOUNT PAYBLE ACCOUNT RECEIVABLE
3,000 8,000 7,000 6,000 13,000 3,000 2,068 2,772
1. 2,508 2,200 308
2. 4,446 3,900 546
3. 6,200 868 7,068
###
4. 7,900 9,006 1,106
5. 5,000 700 5,700
6. 8,000 1,120 9,120
7. 744 144 600
8. 48 248
### 200
9. 500 500
10. 1,500 1,500
11.
12.
13.
4,194 13,400 2,068 19,800 9,690
### 7,000 4,500 13,000 3,500 500 1,500 2,772 704 600 200 5,700 9,120
7,446 7,446 13,400 13,400 2,068 2,068 19,800 19,800 17,006 17,006 7,000 7,000 6,000 6,000 13,000 13,000 3,500 3,500 500 500 1,500 1,500 2,772 2,772 2,772 2,772 600 600 200 200 5,700 5,700 9,120 9,120

INCOME STATEMENT BALANCE

Purcahes 13,400 19,800 Sales Cash 4,194 7,000 Loans
Depriciation ex 1,500 500 Change in stock Bank 9,690 13,000 Equity
Rent 600 Equipments 4,500 5,700 Acc.Payble
Telephone bill 200 Stock 3,500 704 Vat Payble
Acc.Receivable 9,120 4,600 Profit
Profit 4,600
20,300 20,300 31,004 31,004