Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Example 1 (chapter 3 pp. 28) Company X balance sheet at 31..03.200x Assets Intangible fixed assets Fixed assets Cash Total assets 6.000 Equity 45 000
Example 1 (chapter 3 pp. 28) Company X balance sheet at 31..03.200x Assets Intangible fixed assets Fixed assets Cash Total assets 6.000 Equity 45 000 Trade liabilities 54 000 3.500 6.500 57 500 Total equity & liabilities 57 500 Company c has the following business events in April 1. The company purchased 100 units of production commodity 0,50 per unit Company paid in cash and commodities were taken to the warehouse 2. The company paid trade liabilities using bank money transfer 500 3. Cash delivered from bank account to cash desk 800 4. Purchased with deferred payment a tangible fixed asset and took in into active use 1000 5. The company signed a bank loan agreement for settling a trade liability for the purchase of tangible fixed asset Money received on bank account 1000 6. A liability relating to the purchase of tangible fixed asset was paid 1000 Required: a) Open the accounts b) Records all accounting operation c) Prepare closing balance sheet
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