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Required: Open opening balances, record all transactions in appropriate T-accounts and prepare income statement for 2019. In 2019 the company: a) The company purchased company

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Required: Open opening balances, record all transactions in appropriate T-accounts and prepare income statement for 2019. In 2019 the company: a) The company purchased company Y. The assets of company Y amounted to 100000 , liabilities 40000 . The cost of purchase was 30000 in cash and 40000 in deferred payment (3 mo.). No amortization for 2019. b) The company purchased an accounting software license for 48000 with deferred payment. The license's useful life is 3 years and straight line amortization is applied. Licence was put in active use in March. c) The company paid half of an outstanding long-term loan, and additional interest of 500 . d) The company recorded depreciation of machine (18 years useful life SLD)

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