5 Financial information is presented as follows: Operating Expenses 90.000 TL, Cost of Merchandise Sold 165,000 TL, and Domestics Sales 300,000 TL. Calculate gross profit.

Select one:

a 135.000 TL

b 300.000 TL

c 210.000 TL

d 45.000 TL

6- If VAT Deductible is 58.000 TL, VAT Payable is 68.000 TL and VAT Carried Forward 8.000 TL, select the best choice.

Select one:

a Debit Taxes Payable 10.000 TL

b Debit VAT Carried Forward 10.000 TL

c Credit Taxes Payable 2.000 TL

d Credit VAT Carried Forward 2.000 TL

14 Jennis Music Store borrowed 60.000 TL from the bank signing a 7%, 3-month bank loan on 1 January. Bank loan will be paid in 3 months. If the company prepares monthly financial statements, the end of period accounting record that the company should make for 30 day interest on January 30, would be

Select one:

a Debit Financing Expenses; Credit Accrued Expenses, 350 TL

b Debit Interest Expense; Credit Accrued Expenses, 4.200 TL

c Debit Bank Loans, 4.200 TL; Credit Cash, 4.200 TL

d Debit Cash, 1.050 TL; Credit Financing Expenses, 1.050 TL