Accounting II Assignment no. 1 The balance sheet of the company X as at 31.12.2018 is as follows: ASSETS EQUITY & LIABILITIES Tangible fixed asset (machine)* 60000 Shareholders' equity 100 000 LT Accounts receivables from Co. 20 000 LT Bank loan from ING bank 40 000 W ST Trade receivable from Co. A 60000 ST Trade payables to Company X 10000 Cash 40 000 ST Trade payables to Company Y 30 000 Total assets 180 000 Total equity & liabilities 180 000 * Accumulated depreciated on the machine totaled 120 000. Required: Open opening balances, record all transactions in appropriate T-accounts and prepare income statement for 2019. Required: Open opening balances, record all transactions in appropriate T-accounts and prepare income statement for 2019. In 2019 the company: a) The company recorded depreciation on Tangible fixed asset of 1 000 per month. b) The company provided services to a Company W at a value 20 000. The client received 180 days deferred payment. c) The company purchased inventory from Supplier D. The value of materials purchased 2 000. The company issued note payable to the Supplier D for the value of transaction. d) The company issued an interest note to Debtor W for 5% of an outstanding debt