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Please give the answers within 40 minutes, It's very urgent Task 6: Provisions (10 points) Please fill the boxes with the necessary entries. Use some
Please give the answers within 40 minutes, It's very urgent
Task 6: Provisions (10 points) Please fill the boxes with the necessary entries. Use some or all of these accounts: Revenues (sales) Rent income Prepaid income FX income Prepaid expense Renovation expenses Legal expenses Prepaid expenses FX expense Bank Trade receivable Provisions Trade payables Input VAT VAT Adjustment: Entry on December 31, 2021 We expect a negative outcome from a law suit in 2022. On December 31, 2021 we have not received a ruling from the court. Our lawyer expects that we will have to make a payment of EUR 10.000 + VAT 19 percent to the opposing party. Adjustment: Entry on December 31, 2021 A craftsman renovated our office and finished his work on December 2, 2021. On December 31, 2021, we have not received his invoice yet. We expect an invoice of EUR 1.000 plus VAT 19 percent. Entry on January 10, 2022 We receive the invoice from the craftsman (EUR 850 + VAT 19 percent) and pay immediately via bank transfer. 8Step by Step Solution
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