For task 1 and task 2 of this exam, you might need

the following accounts of the ABC GmbH:

The balance sheet as of December 31, 2018, displayed the following values

215 Undeveloped land 200.000

240 Commercial building 500.000

500 Operating and office equipment 40.000

1200 trade receivables 60.000

1600 cash in hands 50.000

1800 bank 150.000

2900 Owners equity 600.000

3300 trade payables 400.000

During this exercise you might also need the following accounts for the balance sheet:

1406 Deductible input tax, 19 percent

1900 Prepaid expenses

3806 VAT payable, 19 percent

3070 other provisions

3095 provisions period-end closing (financial

statement)/audit costs

It might also be helpful to use the account

9000 Opening balances

For this exercise, you might also need the following accounts for the income statement

Sales

4400 Revenues

Cost of raw materials

5100 Raw material

Wages and salaries

6020 Salaries

Depreciation and amortization

6220 Depreciation of tangibles fixed assets (excluding buildings)

6221 Depreciation of buildings

Occupancy costs

6310 Rent

Miscellaneous operating supplies

6825 Legal and consulting costs

6830 Bookkeeping costs

6850 other operating supplies

9000 Opening balances

Entries of the ABC GmbH during the fiscal year and adjustments

1. February 9, 2019. ABC GmbH receives payment of 40.000 for sales of the previous year on its bank account.

2. January 30, 2019. ABC GmbH buys raw material for EUR 8.000 (gross price), VAT 19 percent. Please use the account 5100 raw material.

3. March 10, 2019. We pay salaries of EUR 60.000. (No social security payments necessary, no taxes). Money transfer.

4. March 10, 2019. We buy office supplies for EUR 595 (gross price, 19 percent VAT) and pay in cash.

5. April 15, 2019. We pay EUR 100.000 for products received in 2018 and 2019 (bank transfer).

6. August 30, 2019. ABC GmbH sells products for 400.000 + VAT 19 percent to X-GmbH.

7. October 30, 2019. ABC GmbH receives a bank payment of 257.000 from X-GmbH.

8. July 1, 2019: ABC GmbH pays EUR 6.000 for the new lease contract (July 1 January 31, 2020). The lease contract is VAT tax-free.

9. December 10, 2019: ABC GmbH pays EUR 800.000 for a building including the land (money transfer). The estimate for the price of the land is EUR 200.000. The estimate for the building is EUR 600.000. (Two entries!)