Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Hello If anyone can help me with my accounting homework I would be really happy.. Solution in T-accounts! The company Zeta carries out commercial activities
Hello
If anyone can help me with my accounting homework I would be really happy..
Solution in T-accounts! The company "Zeta" carries out commercial activities and as of January 1 , the account balances are as follows: \begin{tabular}{l|l|r|} \hline 4 & Fixed assets & 38400 \\ \hline 65 & Bank account & 7800 \\ \hline & Bank deposit & 30000 \\ \hline Bank loan & 8400 \\ \hline Accounts payables & 6000 \\ \hline Accounts receivables & 3840 \\ \hline Goods in stock & 6360 \\ \hline Capital & 72000 \\ \hline \end{tabular} The following operations took place in January: 1 Invoice for accounting services received, payment will be made in 10 days, amount: 4000+ VAT 23\% 2 Commercial goods were purchased and accepted into the warehouse: 4000+23% VAT, payment for 10 days 3 An interest note was issued for a customer who did not pay on time: 4000 4 Invoice received for office renovation, 2000+23% VAT, payment for 10 days 5 Paid for 1/2 of all liabilities from the bank account 6 Electricity invoice received, 2000+23% VAT, payment for 10 days 7 Property tax was paid from the bank account 3000 8 An invoice was received for the purchase of office supplies, payment for 10 days, materials were accepted to the warehouse - 20000+ VAT 23% 9 Purchased fixed asset - computer, value 9000+ VAT, payment for 10 days 10 An invoice was issued for marketing services - 40000+VAT. Payment for 10 days. 11 Payment was received to the bank account for the previous operation. What should be done? Opening balance Open t-accounts with opening balances. Present all transactions in t-accounts. Call cost and revenue accounts accordingly: - basic income and costs - other revenues and costs - financial revenues and expenses Final prepare balance sheet Solution in T-accounts! The company "Zeta" carries out commercial activities and as of January 1 , the account balances are as follows: \begin{tabular}{l|l|r|} \hline 4 & Fixed assets & 38400 \\ \hline 65 & Bank account & 7800 \\ \hline & Bank deposit & 30000 \\ \hline Bank loan & 8400 \\ \hline Accounts payables & 6000 \\ \hline Accounts receivables & 3840 \\ \hline Goods in stock & 6360 \\ \hline Capital & 72000 \\ \hline \end{tabular} The following operations took place in January: 1 Invoice for accounting services received, payment will be made in 10 days, amount: 4000+ VAT 23\% 2 Commercial goods were purchased and accepted into the warehouse: 4000+23% VAT, payment for 10 days 3 An interest note was issued for a customer who did not pay on time: 4000 4 Invoice received for office renovation, 2000+23% VAT, payment for 10 days 5 Paid for 1/2 of all liabilities from the bank account 6 Electricity invoice received, 2000+23% VAT, payment for 10 days 7 Property tax was paid from the bank account 3000 8 An invoice was received for the purchase of office supplies, payment for 10 days, materials were accepted to the warehouse - 20000+ VAT 23% 9 Purchased fixed asset - computer, value 9000+ VAT, payment for 10 days 10 An invoice was issued for marketing services - 40000+VAT. Payment for 10 days. 11 Payment was received to the bank account for the previous operation. What should be done? Opening balance Open t-accounts with opening balances. Present all transactions in t-accounts. Call cost and revenue accounts accordingly: - basic income and costs - other revenues and costs - financial revenues and expenses Final prepare balance sheetStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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