In this statement, you must assume a VAT rate of 25%. This is a summary of the crane operations in January and February 2021 for Lilleberg AS. The balance sheet as of 01.01 2020 is stated in appendix no.1.

6. Receives payment from Pettersen AS cf. transaction 3.

7. Sells goods in cash to various customers for NOK 68,000 excluding VAT.

8. Inventories at the end of February 2020 have an acquisition cost of NOK 100,000 and a fair value of NOK 80,000

9. Complete the services tax settlement.

10. Close the accounts for the 1st term 2020.