The accounts and amounts in the balance sheet of ABC Trade Company dated $02\mathrm{.}01\mathrm{.}2017$ are as follows:

QUESTION $1.$ Prepare the BALANCE SHEET of ABC Trade Company dated $02\mathrm{.}01\mathrm{.}2017(10$p$)$

Furnitures

$100,000$

ACc, DeP

QUESTION $2.$ The transactions of the business for January are as follows. Make journal entries and

general ledger entries.

A$)$ On $2\mathrm{.}01\mathrm{.}2017,$ goods worth $590TL$ including VAT were purchased on $2\mathrm{.}01\mathrm{.}2017,$ half by promiss

note and half by cheque. VAT is $18\%.$