A) KAPKA CO. is a merchandising company selling

MERCHANDSNG GOODS. Companys 01.01.2018 Balance

Sheet Accounts are ; Cash 35.000 TL , Account Payable 75.000

TL, Machinary 65.000TL, Bank Credit 45.000TL , Bank 60.000TL

, Note Payable 40.000TL ,Merchandise 110.000TL ,Account

Receivable 25.000TL , Capital ?TL . (MAKE ONLY OPENING

ENTRY)

B) In January 2018 KAPKA CO. made following business

trancactions.

1)Merchandise purchased for 25.000TL + %10 VAT and

note endorsed. and also 8.000TL freight is paid by writing

(issueing) check.

2)Merchandise sold for 90.000TL, on account + VAT %10.

Customer issued a check. Cost of goods sold is 46.000TL

3) 29.800 TL payment of Note transferred by the customer

to the Bank to close the open account.

4)Order given to the BANK to transfer 30.000TL to vendor

.Bank transferred to the vendors account.

5) Machinary purchased for 180.000TL + 10% VAT and check

issued for machinary purchase.Adjustment and

installation cost is 24.000 TL +VAT %10 is on account.

6) Merchandise sold for 25.000 USD (Dollar)+ %10 VAT And

collected note. Dollar : 5.50TL .Cost of goods sold is

48.000TL.

7)15.000TL paid to the vendor by issuing company check

8)Bank Credit 13.000 closed by trasferring 13.000TL from

the Bank

9) Machinary bought for 144.000 TL + %10 VAT , 1/3 paid

cash, and balance is paid by endorcing a customer note.

10) At the end of the month dolar rate is : 5.10 TL/USD.

11) 28.000 TL is tranferred to vendor by the Bank as an

advance for 65.000TL+%10 VAT merchandise order.

12)Order Received and Balance is paid by endosing note.