A 1 Exercise 2 B 2 Momsen Oy has following transactions. All euro amounts are excluding VAT. 3 Please consider if VAT should be applied or not, which rate should be applied, and if the 4 purchase is VAT deductible or not. 5 6 Please make the relevant postings either as journal entry or by using T-accounts 7 All paid from Bank account. 8 9 1. 10 2. 11 3. 12 13 14 4. 15 5. 16 6. 17 7. 18 8. 19 9. 20 10. 21 11. 22 23 12. 24 Momsen Oy pays for electricity 300,- (+VAT?) Momsen Oy pays for insurance 420,- (+VAT?) Momsen Oy buys fire alarm equipment to be used in the cottage in Lapland which company owns. The staff can use the cottage during their holidays. The equipment value is 30,- (+VAT?). Momsen pays subscription fee for Talouselm -magazine 50,- (+VAT?) Momsen Oy buys a magazine from R-kioski 10,- (+VAT?) Momsen buys a van, value 20 000,- (+VAT?) Momsen buys a car which will be used by finance manager, value 30 000,- (+VAT?) Momsen pays for fuel used in the van, 100,- (+VAT?) Momsen pays for fuel used in the passenger car 75,- (+VAT?) Momsen pays the interest for the loan, 800,- (+VAT?) Momsen takes one of their biggest customer to a concert. Before the concert they first have a dinner. Concert tickets, 240,- (+VAT?), dinner 200,- (+VAT?) Momsen arranges a customer event in which new products will be introduced. Invitation has been sent out to all customers and some refreshment will be served. Total cost of refrestments, 840,- (+VAT?) 25 26 27 28 C