Accounting I Colloquium retake Name and Sumame Student ID Teacher and class time registered for.. Balance sheet of Company Stalmit dated 01.12.2019 showed the following accounts: a) property, plant and equipment (car) 26 000* b) inventory: goods for resale 1 000** c) trade receivables 3 000 d) cash in bank account 16 000 e) cash in the cash desk 4 000 1) share capital 47 000 e) net profit from previous years 3 000 f) tax and custom liabilities 20 000 no depreciation recorded yet ** traded goods A: 800 units at 0,50 /unit and 800 units at 0,75/unit In December, 2019 the company noted the following economic transactions: 1. Company purchased with deferred payment building under construction for 12 000. 2. Company recorded salaries of office staff 2 000 and sales staff 3 000. 3. 100 units of traded goods A was spoiled and thrown away. 4. Company called for December 29 a shareholder meeting. 5. Outstanding custom duty liability in the amount of 2000 was paid by bank money transfer. 6. Company sold with deferred payment 1 000 traded goods A at a price of 1,00 7. Company's client paid by bank money transfer 3 000 for goods bought on credit. 8. Sold traded goods were taken from the warehouse and delivered to the customer unit (FIFO method is applied) 9. Company paid the salaries of employees by bank money transfer 5 000. 10. Company finished construction of the building and put it into active use 12 000 Required: 1/ Open the accounts with opening balances. (4 points) 2/ Record all transactions. Materials are valued at cost of purchase. (20 points) 3/ Close all accounts, show their ending balances and calculate profit or loss for December 2019 according to costs by nature structure in the Profit/(loss) account. (6 point)