Case 1 Accounting books of TB Ltd. showed the following balances as at 01.01.20X1 (opening balance): 1. Fixed assets - initial value (company car of the president of the board) 2. Cumulated depreciation 3. Commodities X (100 units) 4. Trade receivables 5. Shares of ITD Ltd. (short-term) 6. Money in the bank 7. Share capital 8. Trade liabilities 100 000 PLN 20 000 PLN 50 000 PLN 40 000 PLN 60 000 PLN 130 000 PLN 260 000 PLN 100 000 PLN In January 20X1, the following events took place: 1. 100 units of X have been sold for the total price of 70 000 PLN. Payment deadline - 30 days. 2. 100 units of Y have been bought for the total price of 60 000 PLN. Payment deadline - 30 days. 3. Depreciation of the car was calculated in the amount of 2 000 PLN. 4. Payments of liabilities towards suppliers were made by bank transfer in the amount of 30 000 PLN. 5. ITD Ltd. shares were sold for 80 000 PLN. Money was paid to the bank account. 6. An advance payment for corporate income tax for January 20X1 was estimated at the rate of 19% this is a liability towards the tax office. Tasks: 1. Open accounts for 01.01.20X1 r. 2. Please make an accounting entry for events taking place in January 20X1. In order to simplify in all cases below, please skip the VAT issues. 3. Please close accounts at the end of January 20X1r. 4. Please, make a trial balance for January 20X1r. 5. In the trial balance, please indicate balance sheet accounts and income accounts. 6. On the basis of the trial balance, please specify: a. the sum of fixed assets as at January 31, 20X1. b. the total of current assets as at January 31, 20X1. c. net profit for the period from January 1, 20X1 to January 31, 20X1. d. total equity as at January 31, 20X1. e. the sum of liabilities as at January 31, 20X1.