Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

EXERCICE 1 (4 points) Transaction Description of October operations 1 2 3 Creation of the company by mister John by bank transfer to new company

image text in transcribed

EXERCICE 1 (4 points) Transaction Description of October operations 1 2 3 Creation of the company by mister John by bank transfer to new company bank account: 50 000rmb. He open a Restaurant business. The company buy a car for 10 000 rmb (2000 by bank transfer, 8000 by short term loan) First depreciation of the car. Please calculate the first yearly depreciation and record it. The company want to use the car 5 years and sell it for 2000rmb. The manager Tim has just received his first salary of 5000 rmb Tim found an opportunity to buy 100 kg of premium frozen beef payable 30 days after delivery. 1kg= 10rmb In october, the company X has booked the full restaurant for christmas (total 8000rmb), and first paid 3000rmb for the reservation. Tim sold for 4000rmb of food on October 25th, he used 20kg of beef. 4 5 6 7 1. Please record each operations in Taccounts. 2. Please set up the P&L and BS

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

Step: 3

blur-text-image

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

Computer Accounting With QuickBooks 2021

Authors: Donna Kay

20th Edition

1264069197, 9781264069194

More Books

Students also viewed these Accounting questions