A30 X V fx Ill. C 78 79 TOTAL LIABILITIES 80 81 b) In the next 3 months the following accounting events happened to the company (the VAT is 25% in each 82 event wherever it is possible). Record the accounting events in the books! (24p) 83 84 85 86 87 1. The owners opened a bank account and paid 300.000 K HUF in as a startup capital to launch the business. B8 89 2. In the next day the company bought an inventory manager device and other equipment at value of 2.000 K 90 HUF + VAT. The total amount of the transaction was transferred immediately from the bank account. 91 3. Due to ensuring a more secure operation there was a 5.000 K HUF cash withdrawal. The amount was put into 92 the office safe 93 4. The company purchased from a vendor 100 boxes at unit cost of 2.000 K HUF + VAT. The payment due is 30 94 days later. 95 5. For business development purposes the company submitted 30.000 K HUF credit. According to the credit 96 application the company wanted the bank to finance it for 6 years. 97 6. The owners have a serious product quality complaint related to the boxes. 10% of the purchased items were 98 sent back. The distributor acknowledged the mistake and took back the boxes (the distributor issued the 99 negative invoice about this transaction) 100 7. There are employees in the administration and the sales as well. The payroll of these employees is the 101 following: 102 a. the gross salaries: sales - 15.000 K HUF, administration - 10.000 K HUF. 103 b. the salary taxes (contributions) are 30% of the gross salary. 104 c. deductions (e.g. personal income tax) on gross salary are 20%. 105 8. The company sold 60 boxes to the customers. The selling price is 5.000 K HUF + VAT per note. The customers 106 have 15 days to pay 107 108 9. 1.000 HUF had to be paid in cash for cleaning the administrative office. The total fee includes the VAT. 109 10. The company had to pay a fine of 100 K HUF because some of the boxes had racist design. The money was 110 transferred from the bank account and the public apology has been made. 111 11. The salaries of the employees were paid out. 112 113 12. Due to the racist design the company should have found another distributor. In order to maintain a safe 114 level of the inventory 20 boxes were purchased at unit cost of 2.250 K HUF + VAT. The due date is 15 days later. 115 116 13. The company got the credit that it applied for previously. The amount was credited to the bank account. 117 14. One of the employees accidentally sat on a box and it became useless. That's why the company should have 118 written it off and put it in the trash. 119 15. The company paid the interest of 4.500 K HUF. 120 16. The VAT taxes for the period has been consolidated 121 17. The accountant prepared the books for calculating CIT (corporate income tax). It is necessary to make a 122 correction before the closing. The short-term portion of the bank credit should be recorded on the short-term 123 credit account. 124 C. Transfer the earnings to the balance sheet and close the accounts. During transfering the earnings, you have 125 to calculate the corporate income tax (CIT) which is 10% of the earnings. 126 127 c) Fill out the inventory monitor, use the weighted average method! (5p) 128A30 X V fx Ill. C 126 127 c) Fill out the inventory monitor, use the weighted average method! (5p) 128 129 130 # Name 131 132 133 134 135 136 137 d) Compile (fill out) the closing P&L Statement and the Balance Sheet! If you filled the gaps in the part a), the 138 name of the missing rows will appear. (4p) 139 140 PROFIT AND LOSS STATEMENT (in K HUF) 2020.04.30 141 1. Total sales (revenues 142 COGS 143 II. Direct costs of sales 144 III. 145 Sales and marketing expenses 146 Administrative expenses 147 IV. Indirect costs of sales 148 V. Other income 149 VI. Other expenses (other operating charges) 150 A. 151 VII. Income from financial transactions 152 VIll. Expenses on financial transactions 153 B. PROFIT OR LOSS FROM FINANCIAL TRANSACTIONS 154 C. INCOME BEFORE TAX 155 IX. Corporate income tax 156 D. 157 158 159 ASSETS (in K HUF) 2020.04.30 160 A. 161 1. 162 Property rights 163 II. 164 Machinery and technical equipment 165 B. Current assets 166 1. 167 Merchandise (goods) 168 II. 169 Trade receivables 170 IV. Cash and cash equivalents 171 Petty cash 172 Bank accounts 173 174 TOTAL ASSETS 175 176Calibri (Body) 11 A A Paste B I UV V v A30 X V fx Ill. 156 D. 157 158 159 ASSETS (in K HUF) 2020.04.30 160 A. 161 1. 162 Property rights 163 II. 164 Machinery and technical equipment 165 B. Current assets 166 167 Merchandise (goods) 168 169 Trade receivables 170 IV. Cash and cash equivalents 171 Petty cash 172 Bank accounts 173 174 TOTAL ASSETS 175 176 177 LIABILITIES (in K HUF) 2020.04.30 178 D. 179 1. Subscribed capital 180 Il. Retained earnings 181 F. Liabilities 182 1. Long-term liabilities 183 Investment and development credits 184 II. Current liabilities 185 Short-term credits 186 Trade payables 187 Other short-term liabilities 188 Salaries 189 VAT for the period 190 Contributions & Taxes on Salaries 191 CIT payable 192 193 TOTAL UABILITIES 194 195