Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

can someone solve the whole thing and send me the answer II. Transactions during the period: - 1.1.2020: The firm purchased goods IT (VAT excluded).

image text in transcribed

can someone solve the whole thing and send me the answer

II. Transactions during the period: - 1.1.2020: The firm purchased goods IT (VAT excluded). In return, ) T check, and promissed to pay the remaining within 2 months. - 2.1.2020: The business made sales of ( ) TL (VAT excluded). In return, 1 cash, TL check, and the customer promissed to pay the remaining within 5 months. -4.1.2020: A customer ordered commercial goods ( IT (VAT included). In return T L. ( ITL was paid in advance. The goods ordered were delivered to the firm 1 day later. The customer promised to pay the remaining amount within 3 months. - 7 1.2020: The business rented a building. A check in the amount of i TL was given to the office owner. Half of the check given was counted as rent and the remainder as a deposit. It was promised a commission equal to the rental price to the real estate agent one month later. -9 1.2020: The firm bought THY Co.1 TL commion stocks, the unit price is (O T. The amount has been paid by the Bank and 0.3% commission expense has been paid. - 10.1.2020: A furniture I TL was ordered (VAT included). with an advance payment of ( .)TL (VAT included). The ordered fixture was delivered the next day. The remaining amount was promised to be paid in 15 monthly equal installments. (payment day is the 5 th of each month ). - 13.1.2020: THY Co. 1 1 common stocks were sold, the unit price was ( ) TL. and 0.3% commission expense was paid. -15.1.2020: ( ) Tl rental expense has been paid in advance for this year. REQUIREMENTS: 1. Write your own amounts in the spaces in parentheses in the questions (10 points) 2- Prepare the beginning balance sheet (20 points) 3. Make the journal and ledger entries (50 points) 4. Prepaire the monthly trial balance (15 Points) II. Transactions during the period: - 1.1.2020: The firm purchased goods IT (VAT excluded). In return, ) T check, and promissed to pay the remaining within 2 months. - 2.1.2020: The business made sales of ( ) TL (VAT excluded). In return, 1 cash, TL check, and the customer promissed to pay the remaining within 5 months. -4.1.2020: A customer ordered commercial goods ( IT (VAT included). In return T L. ( ITL was paid in advance. The goods ordered were delivered to the firm 1 day later. The customer promised to pay the remaining amount within 3 months. - 7 1.2020: The business rented a building. A check in the amount of i TL was given to the office owner. Half of the check given was counted as rent and the remainder as a deposit. It was promised a commission equal to the rental price to the real estate agent one month later. -9 1.2020: The firm bought THY Co.1 TL commion stocks, the unit price is (O T. The amount has been paid by the Bank and 0.3% commission expense has been paid. - 10.1.2020: A furniture I TL was ordered (VAT included). with an advance payment of ( .)TL (VAT included). The ordered fixture was delivered the next day. The remaining amount was promised to be paid in 15 monthly equal installments. (payment day is the 5 th of each month ). - 13.1.2020: THY Co. 1 1 common stocks were sold, the unit price was ( ) TL. and 0.3% commission expense was paid. -15.1.2020: ( ) Tl rental expense has been paid in advance for this year. REQUIREMENTS: 1. Write your own amounts in the spaces in parentheses in the questions (10 points) 2- Prepare the beginning balance sheet (20 points) 3. Make the journal and ledger entries (50 points) 4. Prepaire the monthly trial balance (15 Points)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Night Audit Shenanigans With Winston No Longer Working At The Hotel Luna Is Dealing Without Days Off

Authors: Kentucky Elayne NightHawk

1st Edition

B0BYLVMSV7, 979-8361945702

More Books

Students also viewed these Accounting questions