Task 1: (LO 1,2,3) The following is the most recent chart of accounts for Robo Technology Company: Robo Technology sells laptops, tablets, phones and much more. It has been established on the 1 January 2015. Robo Technology adopts the calendar year as its fiscal year. Below is the statement of financial position as at 30 November 2021 ROBO TECHNOLOGY Robo Technology Statement of Financial Position As at 30 November 2021 BHD BHD Assets Non-current assets Land 73,844 Building, net 111,000 Furniture, net 23,575 14,532 Equipment, net Total non-current assets 222,950 Current assets Inventory Prepaid Insurance 13,290 12,600 4,500 101 102 104 105 106 107 108 109 110 112 113 114 115 116 118 201 202 203 204 205 206 207 208 300 400 401 402 500 501 502 600 601 602 603 604 605 606 607 Cash Trade receivables Prepaid rent Prepaid insurance Supplies Short-term investments Long-term investments Furniture Equipment Land Buildings Accumulated depreciation - Buildings Accumulated depreciation - Equipment Accumulated depreciation - Office Furniture Inventory Short-term loan Mortgage payable Salary payable Trade payable Account payable Interest Payable Long-term loan VAT Capital Sales Sales return & allowance Sales discount Purchases Purchases returns & allowance Purchases discount Fright in Drawings Rent expense Salary expense Depreciation expense Irrecoverable debt expense Interest expense Insurance expense Supplies Trade receivables 12,500 Cash 77,360 12,050 Short-term investment Total current assets 132,300 355,250 Total Assets Equity Capital 191,775 100,000 Non-current liabilities Long-term loan Current liabilities: Salaries payable Trade payables VAT Due Total current liabilities Total liabilities Total Equity & Liabilities 45,250 16,800 1,425 63,475 163,475 355,250 Significant Accounting Policies Additional Information related Robo Technology Property, Plant and Equipment On 30 November, Robo Technology purchased supplies on credit worth BHD230. The accountant recorded the transaction as follows: Credit Property, plant and equipment are measured using the cost model. Depreciation is provided on a straight- line/double declining basis over the estimated useful lives of the assets other than freehold land which is / deemed to have an indefinite life. Debit BHD230 Supplies Trade Receivables BHD230 Description of Assets Estimated Useful Life Depreciation Method The prepaid insurance of BHD12,600 relates to an insurance premium paid on 30 November to cover 12 months, effective from 1 December 2021. Buildings 25 years Straight-line - On 1 December, Robo Technology purchased additional equipment on account to use in business operations with a purchase price of BHD4,800, transportation cost of BHD10, insurance while in transit costing BHD30 and discount of BHD250. Office furniture 8 years 8 Straight-line On 2 December, the owner of Robo Technology invested additional cash BHD80,000. Equipment 8 years Double-declining . On 3 December, the customer returned one Huawei Nova 7i 128GB Midnight Black 4G Dual Sim Smartphone 1 December Receipt no 152. Depreciation schedule as at 30 November 2021: On 24 December, the owner of Robo Technology withdrew BHD1,200 from the business bank account. Description of Assets Cost Book Value Residual value Accumulated Depreciation On 24 December, Robo Technology invested in ordinary shares BHD36,000 with the intent of selling the investment in the very near future for a quick profit. BHD30,000 Buildings Office furniture Equipment BHD120,000 BHD24,600 BHD18,352 BHD9,000 BHD1,025 BHD3,820 BHD 111,000 BHD23,575 BHD14,529 On 31 December, Robo Technology signed a mortgage loan agreement to purchase a Land with Bank of Bahrain and Kuwait (BHD25,000 as a down payment and a 25-year mortgage for BHD60,000). VAT Accounting . Robo Technology has the policy to pay current month salaries on the second day of the next month. The total salaries for the month of November and December 2021 amounts to BHD45,250 per month The company was VAT registered in January 2020. The company charges VAT on their sales, recovers tax on the purchases and expenses and settle the difference with the National Bureau for Revenue (NBR). The company submits a tax return quarterly using the NBR's online portal and makes the payment of the any tax due by the last day of the month following the end of each tax period (quarter). The VAT due was fully paid for the previous tax periods. The VAT due for the 4th quarter (from October to December 2021) will be paid during January 2022. In case of excess of recoverable input tax, the company can ask the NBR for a refund of this excess or carry forward this excess to its subsequent tax periods. On 31 December, Robo Technology returned Google Pixel Slate 12.3-inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue BHD690 (cost BHD657 and VAT 33) to Google. Robo Technology estimated the allowance for receivables at 2% of trade receivables. Robo Technology determines the amount of inventory at the end of each accounting period, following a physical inventory count. Analysis at the close of business in December shows that BHD1,000 of supplies are still on hand. P Robo technology ROND TECHNOLOGY Sony Inventory Count Sheet as at 30 November 2021 Quotation Inventory ID Cost per unit Quantity Item description Huawei Nova 7i 128GB Midnight Black 4G Dual Sim Smartphone Sony head office Minato City, Tokyo, Japan , , Tel. 1-800-345-7669 DATE Quotation # Customer ID 12-Dec-20 785 ABC123 INVOO1 60 45 INVOO2 Huawei Nova 7i 128GB Sakura Pink 4G Dual Sim Smartphone 60 40 Quotation For: Robo technology Sanad Bahrain INV003 Huawei Nova 71128GB Crush Green 4G Dual Sim Smartphone 60 15 Comments or Special Instructions: None INV004 Huawei MatePad, 10.4 inch, WiFi, 128 GB, Midnight Gray 110 5 QUANTITY UNIT PRICE AMOUNT INV005 Microsoft Surface Pro 7 - Core i7 1.3GHz 16GB 256GB Shared Win10 12.3inch Black 320 5 25 BHD 200 BHD 5,000 DESCRIPTION Xperia 10 III Lite - Black - Xperia 10 III Lite - Pink - Xperia 10 III Lite - White 15 BHD 200 BHD 3.000 INV006 Google Pixel Slate 12.3-Inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue 690 6 25 BHD 5.000 BHD 200 Total (Including tax) ( BHD 13,000 INVOO7 250 4 Huawei MateBook D 14, Core i5, 8GB, 512GB, 14-inch, Space Grey , Apple iPhone 12 Mini Leather Case - Black - If you have any questions concerning this quotation, contact our head office INV008 25 5 THANK YOU FOR YOUR BUSINESS! Apple iPhone 12 Mini Leather Case - Red INV009 25 7 Apple iPhone 12 Mini Leather Case - Blue INV010 25 8 INV011 Apple iPhone 12 Mini Leather Case - Pink 25 6 Note: Robo Technology entered into agreement with M Line Mobile Accessories to hold and sell the "Apple iPhone 12 Mini leather cases" on their behalf. Robo Technology Invoice Register BOS TECHNOLOGY Invoice # Loan Agreement Invoice Date Item Customer Name Gross sale (Before tax and discount) Discount (5%) Type of Discount Payment Due This Loan Agreement (this "Agreement") dated 1 December 2021 Between: 267 1 Dana BHD 4 BHD 80 BISB Bank (the "Lender") Trade 4-Feb-22 AND 275 2 Malak BHD 160 BHD 8 Trade -- 14-Dec-21 Robo Technology (the "Borrower") 278 1 13-Dec-21 Huawei Nova 7i 128GB Sakura Pink 4G Dual Sim Smartphone 14-Dec-21 Huawei Nova 7i 128GB Crush Green 4G Dual Sim Smartphone 16-Dec-21 Google Pixel Slate 12.3- Inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue 25-Dec-21 HUAWEI MateBook D 14, Core i5, 8GB, 512GB, 14-inch, Space Grey Amal BHD 740 BHD 37 Cash 17-Jan-22 The parties agree as follows: Loan Amount: The Lender agrees to loan the Borrower BHD 8,000. 280 1 Salem BHD 290 BHD 15 Cash 29-Dec-21 Interest: The loan requires the Borrower to pay interest at an annual rate 2%, its first interest payment is due on 2 January 2022. Total BHD 1,270 BHD 64 Loan term: 10 months. This Agreement has been signed by both parties. Note: Robo Technology charges 5% value added tax (VAT) on their net sales (sales after discount). Rele Technology "home store The Home Store Rent Agreement Tax Invoice This Rental Agreement ("Agreement") is made and entered into between Bahrain property "Owner" and Robo Technology "Renter." in consideration of the Renter agreeing to pay for rent office owned by the Owner. BILL Robo Technology Invoice # 785 TO Company SHIP Robo Technology TO Company Renter must pay rent to its owner of BHD 15,000 on 1 December 2021 in respect of office rent. Invoice Date: 1 December 2021 Manama Manama Rent period: 1 year, beginning on 1 December 2021 Kingdom of Bahrain Kingdom of Bahrain Customer ID: 2210 : Use of office: The office leased shall only be used for business purposes. Acknowledgement: The parties hereby acknowledge and understand the terms and signed on 1 December 2021 Owner Qty Item Units Description Discount % Unit Price Total Fabri 4 Canova Corner Desk - Height (cm): 78, Width (cm): 177 - Cream/ L.Oak BHD 176.25 Robo Technology BHD 705 Relo Technology Subtotal BHD 705 VAT BHD 32.25 Shipping BHD 15.75 Balance Due BHD 756 SALES RECEIPT ROBO TECHNOLOGY SALES RECEIPT AWALI STATIONERY WEE Robo Technology Sanad Kingdom of Bahrain Date: 1-Dec-2021 1- Receipt #: 152 SOLD TO: Robo Technology Sanad Awali Stationery W.L.L Kingdom of Bahrain Bill To: : Manama Mr. Nasser Ali Kingdom of Bahrain DESCRIPTION QUANTITY LINE TOTAL Manama Kingdom of Bahrain 3M POST IT PAD- 3X3,5COLOR 654-SSA - 20 BHD 50 RECEIPT # 187 Date: 2-Dec-2021 ATLAS A4 PAPER,80G (5 RIM/BOX) 50 Unit price Amount BHD 325 Quantity Description Huawei Nova 71 128GB 5 Midnight Black 4G Dual Sim Smartphone Subtotal BHD 80 BHD 400 BALL PEN- Blue(PILOT)BP1- 15 BHD 37.5 MS50 BHD 400 Subtotal BHD 400 SUBTOTAL VAT TOTAL Thank you for your business! VAT BHD 412.5 BHD 20.625 BHD 433.125 THANK YOU FOR YOUR BUSINESS! ! BHD 20 Total BHD 420 SALES INVOICE ROBO TECHNOLOGY Quotation Robo Technology Sanad Kingdom of Bahrain Date: 6-Dec-2021 Invoice #: 45 : 25-Dec-21 Apple head office Cupertino, California, United States Tel. 800-692-7753 DATE Quotation # Customer ID 785 Bill To: : ID120 Ms. Amina Mohamed Manama Kingdom of Bahrain Quotation For: Robo Technology Sanad Bahrain Quantity Unit price Description Comments or Special Instructions: None Amount 1 BHD 130 Huawei MatePad 10.4 inch, WiFi,128 GB, Midnight Gray , BHD 130 QUANTITY UNIT PRICE AMOUNT DESCRIPTION Apple iPhone 13, 5G, 512GB, Midnight 10 BHD 500 Subtotal BHD 130 BHD 5,000 Total (Including tax) BHD 5,000 Thank you for your business! Subtotal VAT BHD 130 BHD 6.5 If you have any questions concerning this quotation, contact name, phone number, e-mail. Total BHD 136.5 THANK YOU FOR YOUR BUSINESS! Robo Technology: Purchases Orders Tracking Sheet R SALES RECEIPT ROBO TECHNOLOGY ROBO TECHNOLOGY Item Tracking Quantity Purchase # Price Freight Charges Order/Invoice Date Robo Technology Sanad Kingdom of Bahrain Date: 9-Dec-2021 Receipt #: 157 Seller (through local authorized retailer) per unit BHD 60 Huawei Nova 7i 128GB Midnight Black 4G Dual Sim Smartphone Huawei P-175 8 BHD 15 1-Dec-21 Bill To: BHD 110 Huawei P-176 5 BHD 15 8-Dec-21 Mr. Rashed Salman Manama Kingdom of Bahrain Huawei MatePad 10.4 inch, WiFi,128 GB Midnight Gray Microsoft Surface Pro 7- Core i7 1.3GHz 16GB 256GB Shared Win10 12.3inch Black BHD 320 Microsoft P-177 4 BHD 25 11-Dec-21 Quantity Unit price Amount BHD 690 Google P-179 4 Description HUAWEI MateBook D 14, Core i5, 8GB, 512GB, 14-inch, Space , Grey BHD 20 15-Dec-21 3 BHD 290 BHD 870 Google Pixel Slate 12.3-Inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue Subtotal BHD 870 BHD 180 OnePlus P-180 4 BHD 10 18-Dec-21 BHD 870 Thank you for your business! Subtotal VAT BHD 43.5 OnePlus NORD 2,5G, 256GB, Blue Haze OnePlus NORD 2,5G, 128GB, Gray Sierra BHD 130 Total BHD 913.5 OnePlus P-181 15 BHD 10 22-Dec-21 Shipment Terms and Conditions: 'FOB shipping point' applies Goods leave the seller's shipping dock two days after the order date Goods are delivered to the buyer's destination 10 days following the order date Robo Technology pays 5% input value added tax (VAT) on the purchase price Required: Assuming the role of Robo Technology accountants, refer to the preceding business documents and the additional information to: A. Follow the necessary steps of the accounting cycle that include the process of recording transactions up to adjusting accounts (50 marks) Task 1: (LO 1,2,3) The following is the most recent chart of accounts for Robo Technology Company: Robo Technology sells laptops, tablets, phones and much more. It has been established on the 1 January 2015. Robo Technology adopts the calendar year as its fiscal year. Below is the statement of financial position as at 30 November 2021 ROBO TECHNOLOGY Robo Technology Statement of Financial Position As at 30 November 2021 BHD BHD Assets Non-current assets Land 73,844 Building, net 111,000 Furniture, net 23,575 14,532 Equipment, net Total non-current assets 222,950 Current assets Inventory Prepaid Insurance 13,290 12,600 4,500 101 102 104 105 106 107 108 109 110 112 113 114 115 116 118 201 202 203 204 205 206 207 208 300 400 401 402 500 501 502 600 601 602 603 604 605 606 607 Cash Trade receivables Prepaid rent Prepaid insurance Supplies Short-term investments Long-term investments Furniture Equipment Land Buildings Accumulated depreciation - Buildings Accumulated depreciation - Equipment Accumulated depreciation - Office Furniture Inventory Short-term loan Mortgage payable Salary payable Trade payable Account payable Interest Payable Long-term loan VAT Capital Sales Sales return & allowance Sales discount Purchases Purchases returns & allowance Purchases discount Fright in Drawings Rent expense Salary expense Depreciation expense Irrecoverable debt expense Interest expense Insurance expense Supplies Trade receivables 12,500 Cash 77,360 12,050 Short-term investment Total current assets 132,300 355,250 Total Assets Equity Capital 191,775 100,000 Non-current liabilities Long-term loan Current liabilities: Salaries payable Trade payables VAT Due Total current liabilities Total liabilities Total Equity & Liabilities 45,250 16,800 1,425 63,475 163,475 355,250 Significant Accounting Policies Additional Information related Robo Technology Property, Plant and Equipment On 30 November, Robo Technology purchased supplies on credit worth BHD230. The accountant recorded the transaction as follows: Credit Property, plant and equipment are measured using the cost model. Depreciation is provided on a straight- line/double declining basis over the estimated useful lives of the assets other than freehold land which is / deemed to have an indefinite life. Debit BHD230 Supplies Trade Receivables BHD230 Description of Assets Estimated Useful Life Depreciation Method The prepaid insurance of BHD12,600 relates to an insurance premium paid on 30 November to cover 12 months, effective from 1 December 2021. Buildings 25 years Straight-line - On 1 December, Robo Technology purchased additional equipment on account to use in business operations with a purchase price of BHD4,800, transportation cost of BHD10, insurance while in transit costing BHD30 and discount of BHD250. Office furniture 8 years 8 Straight-line On 2 December, the owner of Robo Technology invested additional cash BHD80,000. Equipment 8 years Double-declining . On 3 December, the customer returned one Huawei Nova 7i 128GB Midnight Black 4G Dual Sim Smartphone 1 December Receipt no 152. Depreciation schedule as at 30 November 2021: On 24 December, the owner of Robo Technology withdrew BHD1,200 from the business bank account. Description of Assets Cost Book Value Residual value Accumulated Depreciation On 24 December, Robo Technology invested in ordinary shares BHD36,000 with the intent of selling the investment in the very near future for a quick profit. BHD30,000 Buildings Office furniture Equipment BHD120,000 BHD24,600 BHD18,352 BHD9,000 BHD1,025 BHD3,820 BHD 111,000 BHD23,575 BHD14,529 On 31 December, Robo Technology signed a mortgage loan agreement to purchase a Land with Bank of Bahrain and Kuwait (BHD25,000 as a down payment and a 25-year mortgage for BHD60,000). VAT Accounting . Robo Technology has the policy to pay current month salaries on the second day of the next month. The total salaries for the month of November and December 2021 amounts to BHD45,250 per month The company was VAT registered in January 2020. The company charges VAT on their sales, recovers tax on the purchases and expenses and settle the difference with the National Bureau for Revenue (NBR). The company submits a tax return quarterly using the NBR's online portal and makes the payment of the any tax due by the last day of the month following the end of each tax period (quarter). The VAT due was fully paid for the previous tax periods. The VAT due for the 4th quarter (from October to December 2021) will be paid during January 2022. In case of excess of recoverable input tax, the company can ask the NBR for a refund of this excess or carry forward this excess to its subsequent tax periods. On 31 December, Robo Technology returned Google Pixel Slate 12.3-inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue BHD690 (cost BHD657 and VAT 33) to Google. Robo Technology estimated the allowance for receivables at 2% of trade receivables. Robo Technology determines the amount of inventory at the end of each accounting period, following a physical inventory count. Analysis at the close of business in December shows that BHD1,000 of supplies are still on hand. P Robo technology ROND TECHNOLOGY Sony Inventory Count Sheet as at 30 November 2021 Quotation Inventory ID Cost per unit Quantity Item description Huawei Nova 7i 128GB Midnight Black 4G Dual Sim Smartphone Sony head office Minato City, Tokyo, Japan , , Tel. 1-800-345-7669 DATE Quotation # Customer ID 12-Dec-20 785 ABC123 INVOO1 60 45 INVOO2 Huawei Nova 7i 128GB Sakura Pink 4G Dual Sim Smartphone 60 40 Quotation For: Robo technology Sanad Bahrain INV003 Huawei Nova 71128GB Crush Green 4G Dual Sim Smartphone 60 15 Comments or Special Instructions: None INV004 Huawei MatePad, 10.4 inch, WiFi, 128 GB, Midnight Gray 110 5 QUANTITY UNIT PRICE AMOUNT INV005 Microsoft Surface Pro 7 - Core i7 1.3GHz 16GB 256GB Shared Win10 12.3inch Black 320 5 25 BHD 200 BHD 5,000 DESCRIPTION Xperia 10 III Lite - Black - Xperia 10 III Lite - Pink - Xperia 10 III Lite - White 15 BHD 200 BHD 3.000 INV006 Google Pixel Slate 12.3-Inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue 690 6 25 BHD 5.000 BHD 200 Total (Including tax) ( BHD 13,000 INVOO7 250 4 Huawei MateBook D 14, Core i5, 8GB, 512GB, 14-inch, Space Grey , Apple iPhone 12 Mini Leather Case - Black - If you have any questions concerning this quotation, contact our head office INV008 25 5 THANK YOU FOR YOUR BUSINESS! Apple iPhone 12 Mini Leather Case - Red INV009 25 7 Apple iPhone 12 Mini Leather Case - Blue INV010 25 8 INV011 Apple iPhone 12 Mini Leather Case - Pink 25 6 Note: Robo Technology entered into agreement with M Line Mobile Accessories to hold and sell the "Apple iPhone 12 Mini leather cases" on their behalf. Robo Technology Invoice Register BOS TECHNOLOGY Invoice # Loan Agreement Invoice Date Item Customer Name Gross sale (Before tax and discount) Discount (5%) Type of Discount Payment Due This Loan Agreement (this "Agreement") dated 1 December 2021 Between: 267 1 Dana BHD 4 BHD 80 BISB Bank (the "Lender") Trade 4-Feb-22 AND 275 2 Malak BHD 160 BHD 8 Trade -- 14-Dec-21 Robo Technology (the "Borrower") 278 1 13-Dec-21 Huawei Nova 7i 128GB Sakura Pink 4G Dual Sim Smartphone 14-Dec-21 Huawei Nova 7i 128GB Crush Green 4G Dual Sim Smartphone 16-Dec-21 Google Pixel Slate 12.3- Inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue 25-Dec-21 HUAWEI MateBook D 14, Core i5, 8GB, 512GB, 14-inch, Space Grey Amal BHD 740 BHD 37 Cash 17-Jan-22 The parties agree as follows: Loan Amount: The Lender agrees to loan the Borrower BHD 8,000. 280 1 Salem BHD 290 BHD 15 Cash 29-Dec-21 Interest: The loan requires the Borrower to pay interest at an annual rate 2%, its first interest payment is due on 2 January 2022. Total BHD 1,270 BHD 64 Loan term: 10 months. This Agreement has been signed by both parties. Note: Robo Technology charges 5% value added tax (VAT) on their net sales (sales after discount). Rele Technology "home store The Home Store Rent Agreement Tax Invoice This Rental Agreement ("Agreement") is made and entered into between Bahrain property "Owner" and Robo Technology "Renter." in consideration of the Renter agreeing to pay for rent office owned by the Owner. BILL Robo Technology Invoice # 785 TO Company SHIP Robo Technology TO Company Renter must pay rent to its owner of BHD 15,000 on 1 December 2021 in respect of office rent. Invoice Date: 1 December 2021 Manama Manama Rent period: 1 year, beginning on 1 December 2021 Kingdom of Bahrain Kingdom of Bahrain Customer ID: 2210 : Use of office: The office leased shall only be used for business purposes. Acknowledgement: The parties hereby acknowledge and understand the terms and signed on 1 December 2021 Owner Qty Item Units Description Discount % Unit Price Total Fabri 4 Canova Corner Desk - Height (cm): 78, Width (cm): 177 - Cream/ L.Oak BHD 176.25 Robo Technology BHD 705 Relo Technology Subtotal BHD 705 VAT BHD 32.25 Shipping BHD 15.75 Balance Due BHD 756 SALES RECEIPT ROBO TECHNOLOGY SALES RECEIPT AWALI STATIONERY WEE Robo Technology Sanad Kingdom of Bahrain Date: 1-Dec-2021 1- Receipt #: 152 SOLD TO: Robo Technology Sanad Awali Stationery W.L.L Kingdom of Bahrain Bill To: : Manama Mr. Nasser Ali Kingdom of Bahrain DESCRIPTION QUANTITY LINE TOTAL Manama Kingdom of Bahrain 3M POST IT PAD- 3X3,5COLOR 654-SSA - 20 BHD 50 RECEIPT # 187 Date: 2-Dec-2021 ATLAS A4 PAPER,80G (5 RIM/BOX) 50 Unit price Amount BHD 325 Quantity Description Huawei Nova 71 128GB 5 Midnight Black 4G Dual Sim Smartphone Subtotal BHD 80 BHD 400 BALL PEN- Blue(PILOT)BP1- 15 BHD 37.5 MS50 BHD 400 Subtotal BHD 400 SUBTOTAL VAT TOTAL Thank you for your business! VAT BHD 412.5 BHD 20.625 BHD 433.125 THANK YOU FOR YOUR BUSINESS! ! BHD 20 Total BHD 420 SALES INVOICE ROBO TECHNOLOGY Quotation Robo Technology Sanad Kingdom of Bahrain Date: 6-Dec-2021 Invoice #: 45 : 25-Dec-21 Apple head office Cupertino, California, United States Tel. 800-692-7753 DATE Quotation # Customer ID 785 Bill To: : ID120 Ms. Amina Mohamed Manama Kingdom of Bahrain Quotation For: Robo Technology Sanad Bahrain Quantity Unit price Description Comments or Special Instructions: None Amount 1 BHD 130 Huawei MatePad 10.4 inch, WiFi,128 GB, Midnight Gray , BHD 130 QUANTITY UNIT PRICE AMOUNT DESCRIPTION Apple iPhone 13, 5G, 512GB, Midnight 10 BHD 500 Subtotal BHD 130 BHD 5,000 Total (Including tax) BHD 5,000 Thank you for your business! Subtotal VAT BHD 130 BHD 6.5 If you have any questions concerning this quotation, contact name, phone number, e-mail. Total BHD 136.5 THANK YOU FOR YOUR BUSINESS! Robo Technology: Purchases Orders Tracking Sheet R SALES RECEIPT ROBO TECHNOLOGY ROBO TECHNOLOGY Item Tracking Quantity Purchase # Price Freight Charges Order/Invoice Date Robo Technology Sanad Kingdom of Bahrain Date: 9-Dec-2021 Receipt #: 157 Seller (through local authorized retailer) per unit BHD 60 Huawei Nova 7i 128GB Midnight Black 4G Dual Sim Smartphone Huawei P-175 8 BHD 15 1-Dec-21 Bill To: BHD 110 Huawei P-176 5 BHD 15 8-Dec-21 Mr. Rashed Salman Manama Kingdom of Bahrain Huawei MatePad 10.4 inch, WiFi,128 GB Midnight Gray Microsoft Surface Pro 7- Core i7 1.3GHz 16GB 256GB Shared Win10 12.3inch Black BHD 320 Microsoft P-177 4 BHD 25 11-Dec-21 Quantity Unit price Amount BHD 690 Google P-179 4 Description HUAWEI MateBook D 14, Core i5, 8GB, 512GB, 14-inch, Space , Grey BHD 20 15-Dec-21 3 BHD 290 BHD 870 Google Pixel Slate 12.3-Inch 2 in 1 Tablet Intel Core i5, 8GB RAM, 128GB, Midnight Blue Subtotal BHD 870 BHD 180 OnePlus P-180 4 BHD 10 18-Dec-21 BHD 870 Thank you for your business! Subtotal VAT BHD 43.5 OnePlus NORD 2,5G, 256GB, Blue Haze OnePlus NORD 2,5G, 128GB, Gray Sierra BHD 130 Total BHD 913.5 OnePlus P-181 15 BHD 10 22-Dec-21 Shipment Terms and Conditions: 'FOB shipping point' applies Goods leave the seller's shipping dock two days after the order date Goods are delivered to the buyer's destination 10 days following the order date Robo Technology pays 5% input value added tax (VAT) on the purchase price Required: Assuming the role of Robo Technology accountants, refer to the preceding business documents and the additional information to: A. Follow the necessary steps of the accounting cycle that include the process of recording transactions up to adjusting accounts (50 marks)
