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Below you will find an accounting summary for the company Kwaheri AS. The company is liable for VAT and VAT the rate is 25%. All
Below you will find an accounting summary for the company Kwaheri AS. The company is liable for VAT and VAT the rate is 25%. All figures in NOK 1,000. Income statement for the year Operating revenues Operating costs Operating results Interest income Interest costs Profit before tax expense Tax cost Annual result 20x1 90 431 83 456 6 975 0 1 234 5,741 1 263 4 478 Balance per 31.12. Fixed assets Current assets Total Assets 20xl (UB) 44 674 33 456 78 130 20x0 (IB) 42 809 34 109 76 918 15 478 Equity Long term debt Short-term debt Total Equity and debt 33 234 29 418 78 130 13000 34 000 29 918 76 918 20x0 5,673 6 987 8,000 Additional information: Warehouse Accounts receivable Accounts payable Cost of goods Depreciation Deductions Bad debts Gain sales of fixed assets Buy fixed assets (excl. VAT) 20x1 7 223 8,000 10 034 43 256 4 156 4,000 800 400 5 250 The accounting summary above forms the basis for tasks 10 and 11. Exercise 11 (4 points) a) Calculate payment from customers in 20x1. b) Calculate payment to suppliers in 20x1
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