1. On 31 December 2020, Ana Hoyos agrees on a 20-year 1,000,000mortgage liability in conjunction with the purchase of a flat. This mortgage is payable in equal monthly installments of 7164.31which include interest computed at an annual rate of 6%. The first monthly payment is made on 31 January 2021. This mortgage is fully amortizing over 240 months. (a) Complete the amortization table for the first four payments by entering the correct euro amounts in the blank spaces provided. (16 points) Round to the nearest euro

						Reduction in
Interest		Payment		Monthly	Interest	Unpaid	Unpaid
Period		Date		Payment	Expense	Balance	Balance
Issue date
1
2
3
4

(b) Record the first payment in the general journal. (12 points)

Date	Account Titles and Explanation	Debit	Credit

2. By the end of year 2020 the Company Alphabet Inc, has prepared the required information to prepare the balance sheet current and long term liabilities.

They have administrative staff in the company, but the accounting service is outsourced.

They are today in a process of selecting a new company to deliver the accounting services, so they are trying to find the best alternative. The have decided to give the information to different companies to see which is the best option.

The information below has been delivered to you and you are asked to prepare the liability side of the balance sheet as professionally as possible. You are also requested to explain everything you are doing, so they can understand clearly what you are doing.

Income taxes payable for 250.000 of which 126.000 are due June 30^th, the rest are deferred indefinitely.

Notes payable 558.000, of which 30.000 are due June 30 2021

52.000 are due December 30 2021

125.698 are due June 2022

350.302 are due December 2022

Lawsuit pending from customer America Corp, as a quality claim from a product that was used in their process causing losses for 2.000.000. The companys lawyer has not been able to estimate the probability that the company has to pay the claim, at this moment.

Cash deposits from customers for tailormade specific products 95.000 to be delivered 50% December 2021 and the remaining amount March 2021.

Accrued interest from a long term loan that is paid every 6 months, the next payment of 90.000 is due march 30^th2021.

Long term loan for 3.000.000, the maturity of the principal has the following breakdown:

December 30 2021 1.000.000

December 30 2022 1.000.000

December 30 2023 1.000.000

Interest expense that will result from existing liabilities over the next 12 months for 200.000

(36 points)

3. Company European partners inc was formed in year 2019.It started with an authorization to issue 1.000 shares of 100 par value preferred stock and 10.000 shares of common stock of 10 par value.

100 Shares of preferred stock were issued at par, and 5.000 chares of common stock were sold at 16 per share.

The preferred stock pays a 10% cumulative dividend.

During the first year of operations the company earned 925.000 and paid no dividends. In the second year the company earned 1.050.000 and declared dividends of 50cents per share of common stock.

Prepare shareholders Equity section of the Balance Sheet at December 31, 2020.

Explain all the steps in your answer and show all workings.

(36 points)

please try doing it without excel or show all excel working