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There is the following information for the clearance of accounts: The inventory as of 31 December 2019 has an acquisition cost of NOK 490,000, which
There is the following information for the clearance of accounts: The inventory as of 31 December 2019 has an acquisition cost of NOK 490,000, which is lower than fair value. On 2 January 2019, a machine had been sold for NOK 60,000 which had a book value of NOK 62,000. Depreciation on machines is NOK 75,000. Provisions for losses on accounts receivable are NOK 3,600 as of 31 December 2019. There are prepaid insurances of DKK 7,600 as of 31.12.2019. 31.12. 2019 will receive an employee salary (gross) of NOK 8,000 that has not been booked. The following rates apply: Employer's contribution 14.1%, holiday pay 12% and tax deduction 30%. Question 1: Final balance sheet for machines (closing book value): Question 2: Final balance sheet for settlement account VAT: Question 3: Final balance sheet for holiday pay due: Question 4: Final balance sheet for bank deposit tax deductions: Question 5: The final balance sheet for cost of goods is: Question 6: The annual result is: There is the following information for the clearance of accounts: The inventory as of 31 December 2019 has an acquisition cost of NOK 490,000, which is lower than fair value. On 2 January 2019, a machine had been sold for NOK 60,000 which had a book value of NOK 62,000. Depreciation on machines is NOK 75,000. Provisions for losses on accounts receivable are NOK 3,600 as of 31 December 2019. There are prepaid insurances of DKK 7,600 as of 31.12.2019. 31.12. 2019 will receive an employee salary (gross) of NOK 8,000 that has not been booked. The following rates apply: Employer's contribution 14.1%, holiday pay 12% and tax deduction 30%. Question 1: Final balance sheet for machines (closing book value): Question 2: Final balance sheet for settlement account VAT: Question 3: Final balance sheet for holiday pay due: Question 4: Final balance sheet for bank deposit tax deductions: Question 5: The final balance sheet for cost of goods is: Question 6: The annual result is
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