1-) On march 1, 2021 the company paid next one years rent of t 180,000 for its administrative building:

a-) Show the journal entry (or entries) to be made in 2021 for this rent payment.

b-) Show the journal entry for this rent in 2022.

2-) A company buys and sells a single kind of merchandise, t uses periodic inventory method for tracking inventory. Beginning merchandise nventory, and purchases in April are as follows:

April 1= Beginning inventory: t 18 x 1,000 units= t 18,000

April 10= Purchase for check issued: t 24 x 3,000 units= t 72,000 (%18 VAT not inclueed)

April 20= Purchase for check endorsed: t 20 x 6,000 units= t 120,000 (%18 VAT not inclueed)

Ending nventory determined through physical count is 2,000 units.

a-) Calculate cost of merchandise sold in April according to FFO method.

b-) Calculate cost of ending merchandise nventory according to AVERAGE cost method.

c-) Show all related journal entries including VAT ( assume that company uses FFO method).

3-) VAT ( value addes tax) accounts of a company at the and of April are as follows.

391 VAT COLLECTED

Apr.10 27,000

Apr.20 45,000

191-VAT DEDUCTIBLE

Apr.05 18,000

Apr.12 9,000

Apr.25 36,000

a-) Show journal entry for VAT at the end of April.

b-) Show next months (may) journal entry fort his April VAT.

4-) A desktop computer to be used in the outlet store of the company was bought on may 1, 2021 for t 23,600 cash (18% VAT included). Accepted legal usefull life of it is 4 years and double declining balance method of depreciation will be used.

a-) Show journal entry fort he purchase of the computer.

b-) Prepare a depreciation schedule showing each years annual and accumulated depreciation.

c-) Show journal entry fort he depreciation of 2021.

d-) Assume this computer is sold for t 18,000 (plus 18% VAT) cash on may 25, 2022.Show journal entry for this sale.