Question
During 2020, the company Alfa Shpk performs the following transactions: a) On February 1, material cash was received and paid in the amount of 80,000
During 2020, the company Alfa Shpk performs the following transactions: a) On February 1, material cash was received and paid in the amount of 80,000 ALL. b) On April 1, the company borrowed 1,000,000 ALL with an interest rate of 10%, to repay it for 4 years. Interest will be paid on April 1 of each year. c) On August 1, a part of the building was rented to a shop; the amount of ALL 200,000 was collected for the annual rent. d) On September 1, ALL 8,000 were collected from customers as payment from their accounts. e) On December 31 of the current year, the salaries earned by the employees amount to ALL 1,000,000. Employees will be paid on the next payroll date in January next year. Request: 1. Complete the following transactions for 2020 in the accounts - T and in the journal, using the respective date of each transaction as a reference. 2. Post the appropriate regulatory item for each action by December 31 of the current year 20 points
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started