Please record the transactions and operations (according to the appropriate allocation in time) for year 20X0. Then, please prepare a corrected Profit and Loss Account and a corrected closing balance sheet as at 31.12.20X0. Ignore income tax. Thank you so much!

EXERCISE 1 The company Alfa prepared a first version of the income statement: Ralance sheet of the company Alfa as at 31.12.20X0 1. Deferred income (RMP) includes: - An item of property, plant and equipment received in December of 20X0 in the form of a donation, initial value 6,000 . Deprecation period 6 years. - Prepayments received from company A on future delivery of finished products (planned deliveries in January and February 20X1) - 2,000. - Negative goodwill 5,000 that will be amortized during 2 years. - Prepayments received from the company B on future delivery 4,500.40% of that delivery was performed in December 20X0. - Donations received for research works 3,000. Incurred cost of research works 2,000. The first phase of research work was finished on 30.09, Amortization period - 5 years. 2. At the end of 20X0 a redecoration of a production building was finished. Due to the lack of invoice, the cost was estimated at 1,800 . 3. The company got an invoice for the lease of office space of 10,000. This amount relates to next 2 years: 20X1 and 20X2. Required: Calculate the value of items allocated in time and correct the given financial statements. Ig