LAUSANNE BUREAU Trial balance At December 31, 2017 in CHF Debit Credit Cash Accounts receivable 80,500 52,000 Inventory of office supplies (for sale) Building and equipment Accumulated depreciation (Building and Equipment) Accounts payable Utilities payable 185,120 634,000 597,000 22,450 5,645 Property maintenance payable 23,450 Common stock 64,000 Retained earnings 239,075 Total 951,620 951,620 Jal 2016-Jan l 2024- = 4 gears Indereyl vote Note: No tax is charged as the Vaud authorities provide special fiscal benefits for this business. Note: Building and Equipment will not be.depreciated during the first semester of 2018. eferct 1 January 1st, 2018 WA 2630 32000o -100 LAUSANNE BUREAU borrows CHF320,000 from the Banque Cantonale Vaudoise (BCV). The amount is due on December, 31 2025. Annual interest of 1.6 % is paid semiannually on K120-25D July 1" and January 1 X 120 -4,6 X LTL Jaeresd Cpeus 2. March 15th, 2018 The company pays CHF22,450 nd CHF5,645 to its suppliers, corresponding to the full amount- of accounts payable and utility payable respectively. 78045 3. April 1st, 2018 LAUSANNE BUREAU purchases a delivery van for CHF54,000 in order to offer a 'desktop" option that consists of delivering the supplies directly to the customer's sites. One third is paid cash and the remaining sum is due on May 30, 2018. The van is expected to be used for 6 years. The company's managers expect no salvage value and use the straight line depreciation ceo method to depreciate the vehicle starting on April 1, 2018. apoo:2-4500noml s Cash onty 4. April 13, 2018 LAUSANNE BUREAU declared a dividend to their shareholders, amounting to CHF15,000. This dividend will be paid at the end of November, 2018. Apil-June smgths 'roo22s0 Camon 3months Page 4 of 14 Mod velevant 5. June 3rd, 2018- LAUSANNE BUREAU receives an important order from EHL to provide office-supplies for an amount of CHP120.000 with no payment in advance. Theseproducts wilIT be shipped to EHL on August 5as-per the contract signed. 6. During the semester LAUSANNE BUREAU purchases office supplies inventory for a total amount of CHF650.000. ant 100% of this amount is paid in the first semester of the year 2018. re 7. During the semester LAUSANNE BUREAU sells and delivers office supplies to various customers for a total Choro cc amount of CHE987.000. 70 % of this amount is collected in the first semester of the year 2018. EThe remaining balance will be paid by customers on August 31", 2018. The cost of office income ste x: 600 s00 auent S yevenie supplies sold (COGS) amounts to CHF620,000.. 8. Every month of the semester LAUSANNE BUREAU pays the monthly salaries to employees. The average monthly salary per employee is CHF6,000. They currently have 9 employees. Monthly salary is paid at the end of each month. ubne Stofemert (6ont salari 32400 ooo-SI000X 6 Work to be done Salary expete Prepare a balance sheet, a statement of stockholders' equity, and an income statement (not including earnings per share) for the semester ended 30 June 2018 on the two pages provided for this purpose (on the ANSWER SHEET) Income Space is provided in order for you to make journal entries and T-accounts but these will Sateme not be graded. - Sales rev- Gross margin C06s.Gross wiarain Salary experse s depeiciation ex pencess Interevst expeneas (4-2-3-4-5 - Net 484000-620000 - 2250-2560-381s0 (Net income 1 mcom ACOme 324 000 Pace 5 of 14
