Assignment EXERCISE CHAPTER 3 Given LOGIKS is specialized in hardware and software. She mainly sells IBM products to professional users. The financial year coincides with the calendar year. On 01/01/2017 her balance sheet is composed as follows: Land 30 000 Buildings 80 000 . . Own server and PCs 25 000 . Outstanding receivables from customers 3.000 Bank account 42 000 Loan with the bank at 5 years 75 000, contracted on 01/01/2016 and fully repayable on 02/01/2020 Debt to suppliers 5 000 Asked A. Draw up the opening balance based on this data. B. Determine the size of the capital contributed by the shareholders. C. Open the journal and accounts in LOGIKS ledger on 01/01/2017. D. Register the following accounting documents on accounts in the general ledger and register in the journal. 1 01/04/2017 the bank account statement is received, showing that a supplier was paid, 1 000 (C/A extract n 1). 2 01/05/2017, new office furniture is purchased with a value of 10 000, excl. 21% VAT, payable within 30 days (Purchase invoice n 1). 3 30/05/2017, Purchase invoice n 1 is paid (C/A extract n 2). 4 31/05/2017, a customer pays the outstanding debt in cash: 2 000 (Cash doc. N 1). E. Check whether the (interim) balance still is in balance. F. Has Logiks made a profit or a loss? G. Register the following account statements on accounts in the general ledger and register in the journal. 5 01/07/2017 LOGIKS purchases computers worth 300 000, excl. 21% VAT from its supplier IBM (Purchase invoice n 2). 6 Half of these computers will be sold to a customer on 05/07/2017 for 200 000, excl. 21% VAT (Sales invoice N 1). 7 On 08/08/2017, Purchase invoice n 3 is received for internet costs for the months of June and July: 150, excl. 21% VAT. H. Draw up the test and trial balance of LOGIKS. I. Has the company made a profit / loss for the time being?