Part II Exercise 5. "Wool" Ltd. beginning balances of balance sheet accounts on 01.10 are in EUR: 1. Other fixed assets - 15 000 2. Accumulated depreciation of fixed assets - 5 000 3. Purchasers and commissioning party debts-30 000 Inventories balances (on the 01.01.) open separately account for each kind of Inventory: 4. Fabrics -11 000 5. Unfinished orders -1000 6. Ready-made clothes in shop - 2000 7. Clothes in storehouse - 3000 8. Cash on hand - 3000 9. Bank account-5000 10. Equity capital - 20 000 Retained profits brought forward previous year-2000 Accounts payable to suppliers and contractors - 25 000 Payable Value added tax-18000 You have to open T-accounts for all positions, record all business transactions in October. You have to prepare turnover of accounts.