Accounting 1 6.3. Exercises Source: E. Snieek, E. Walinska, M. Frendzel, J. Stpie- Andrzejewska, "Financial Accounting", CCAE, Ld, 2007, Chapter 6. Exercise 1 You have just got the wrong version of the balance sheet of your company. The chief accountant asked you to find mistakes and to prepare a proper version of this financial statement. Balance sheet of FORGIVE-ME" Ltd. as at 31.01.2006 ASSETS EQUITY AND LIABILITY 2000 Share capital net paid up 13 000 Accumalated depreciation of machinery, plant and equipment Negative goodwill Machinery, plant and equipment gross valuc 4 100 4 100 Short term bank loans 5 000 Tases and fees Not completed developments cost Payments received on accounts One year debt securitics Share of other entity bought for resale 3000 Software 12 000 4000 Share capital 000 Reccivables in court 5000 Decrease in inventory 500 Building bought for resale 2000 Defenred cest 5 100 7 200 2 100 Trade liabilities due in 2009 Materials, bought in 2001 and fully wrilten of 2 400 Deferred tax provision Work in progress 20 000 Long lerm loans granted 3400 Goods for resale and semi-finished 10 000 4000 TOTAL ASSETS 6 900 TOTAL EQUITY AND Exercise2 You have just got the wrong version of the balance sheet of your company. The chief accountant asked you to find mistakes and to prepare a proper version of this financial statement. Balance sheet of I DON'T KNOW Ltd. as at 31.12.2005 ASSETS EQUITY AND LIABILITY 6 000 Share capital not paid up 6000 Accumulated depreciation of 44000 2200 Machinery. plant and equipment-gross Long term bank loans Completed developments cost Payments received on accounts Short term debt securities 15000 External services 19 000 17 000 Revaluation reserve 12000 3000 Share capital 1 000 Trade receivables due after 24 5 100 Licenses bought for resale 17 000 Increase in liabilities 7 200 Trade liabilities due in 2006 11 500 Deferred income 2 100 Goods for resale bought in 2004 and fully 2000 Treasury shares written off 2 400 Deferred tax provision Work in progress 30 000 Short term loans granted 3400 Semi-finished products 40 000 5 000 TOTAL ASSETS 100 000 TOTAL EQUITY AND Accounting 1 6.3. Exercises Source: E. Snieek, E. Walinska, M. Frendzel, J. Stpie- Andrzejewska, "Financial Accounting", CCAE, Ld, 2007, Chapter 6. Exercise 1 You have just got the wrong version of the balance sheet of your company. The chief accountant asked you to find mistakes and to prepare a proper version of this financial statement. Balance sheet of FORGIVE-ME" Ltd. as at 31.01.2006 ASSETS EQUITY AND LIABILITY 2000 Share capital net paid up 13 000 Accumalated depreciation of machinery, plant and equipment Negative goodwill Machinery, plant and equipment gross valuc 4 100 4 100 Short term bank loans 5 000 Tases and fees Not completed developments cost Payments received on accounts One year debt securitics Share of other entity bought for resale 3000 Software 12 000 4000 Share capital 000 Reccivables in court 5000 Decrease in inventory 500 Building bought for resale 2000 Defenred cest 5 100 7 200 2 100 Trade liabilities due in 2009 Materials, bought in 2001 and fully wrilten of 2 400 Deferred tax provision Work in progress 20 000 Long lerm loans granted 3400 Goods for resale and semi-finished 10 000 4000 TOTAL ASSETS 6 900 TOTAL EQUITY AND Exercise2 You have just got the wrong version of the balance sheet of your company. The chief accountant asked you to find mistakes and to prepare a proper version of this financial statement. Balance sheet of I DON'T KNOW Ltd. as at 31.12.2005 ASSETS EQUITY AND LIABILITY 6 000 Share capital not paid up 6000 Accumulated depreciation of 44000 2200 Machinery. plant and equipment-gross Long term bank loans Completed developments cost Payments received on accounts Short term debt securities 15000 External services 19 000 17 000 Revaluation reserve 12000 3000 Share capital 1 000 Trade receivables due after 24 5 100 Licenses bought for resale 17 000 Increase in liabilities 7 200 Trade liabilities due in 2006 11 500 Deferred income 2 100 Goods for resale bought in 2004 and fully 2000 Treasury shares written off 2 400 Deferred tax provision Work in progress 30 000 Short term loans granted 3400 Semi-finished products 40 000 5 000 TOTAL ASSETS 100 000 TOTAL EQUITY AND
