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we need to prepare balance sheet and income statement only using the data.

Enable ontain viruses. Unless you need to edit, it's safer to stay in Protected View. Nr 1 WN 4 5 6 Business Activity Amount, EUR A man sets up a business. He has invested 1000 his own money in a company's share capital He has invested his own auto truck 1200 He has got money from bank (short term 200 credit). Money were transferred to company's account Primary goods were delivered. 60% of Primary goods 220 them were paid at once by money from company's account Primary goods were utilized during Value of utilized production process primary goods=105 Net wages for production workers were 20 calculated Wages were paid 10 Salaries for administrative personnel 15 were calculated and paid Interest for credit was calculated and paid 5 Depreciation of fixed asset was calculated 200 Finished goods were moved from 300 manufacturing department to a stock Finished goods were delivered to Value of finished purchaser. Invoice was made out. goods = 280 Invoice amount=1000 Purchaser has paid for finished goods 500 The invoice for renting the stock was 10 received The invoice for renting the stock was paid 10 7 8 9 10 11 12 13 14 15 Balance sheet Assets Equity and Liabilities Position Amount Position Amount 1. Long term assets 1. Equity 1.1. Intangible assets 1.1. Share capital 1.2. Fixed assets 1.2. Retained earnings 1.2.1.Auto, equipment, etc 1. Equity Total 1.3. Long term financial 2. Liabilities assets 1. Total Long Term Assets 2.1. Long term liabilities 2. Current assets 2.2. Current liabilities 2.1. Inventories 2.2.1.Short term credits 2.1.1.Primary goods, materials 2.2.2. Debts to vendors I 2.1.2. Goods in process 2.2.3. Other payables 2.1.3. Finished goods 2. Total Liabilities 2.2. Receivables 2.3. Money, cash and its equivalents: 2. Total Current Assets Total Assets Total Equity and Liabilities 1 2 4 6 7 1 Income statement (+) Revenues Costs of goods sold Gross Income Total 3 Selling expenses Administrative expenses 5 Depreciation (+) Other operating income (-)Other Operating expenses Operating Income Total (+)Non-operating income (-)Non-operating expense 10 (+) Interest income 11 )Interest expenses Income before extraordinary items 12-Unusual expenses 13 (+) Unusual income Income before Taxes 14 Income tax expense Net Income 8 9 Nr 1 2 3 4 5 6 Business Activity Amount, EUR A man sets up a business. He has invested 1000 his own money in a company's share capital He has invested his own auto truck 1200 He has got money from bank (short term 200 credit). Money were transferred to company's account Primary goods were delivered. 60% of Primary goods 220 them were paid at once by money from company's account Primary goods were utilized during Value of utilized production process primary goods=105 Net wages for production workers were 20 calculated Wages were paid 10 Salaries for administrative personnel 15 were calculated and paid Interest for credit was calculated and paid 5 Depreciation of fixed asset was calculated 200 Finished goods were moved from 300 manufacturing department to a stock Finished goods were delivered to Value of finished purchaser. Invoice was made out. goods = 280 Invoice amount=1000 Purchaser has paid for finished goods 500 The invoice for renting the stock was 10 received The invoice for renting the stock was paid 10 7 8 9 10 11 12 13 14 15 1