wholesaler The following events took place in 2019. 1. ABC Company is founded by Okan Gkolu on 01.11.2019 with the equity of 10.000.000 TL This amount is paid by the partner at the same date 2. The company bought a sore at Gimat for 2.800.000 TL to use it as sales office on 01.11.2019. The cost of the store is paid from bank accounts. The useful life of the store is 30 years. At the same date, the company hired a constraction company to paint the walls and change the floor for 200.000 TL. The construction company completed all the tasks at the same date and was paid by ABC company via hanks 3. The company insured its store with the inventory for 1 year on 01.11.2019. The premium of the 1-year insurance plan is 240.000 TL and is paid by the company at the same daten 01.11.2020 4. In accordance with an investment plan, the company rented a store in Optimum AVM for 1 year on 01.12.2019 Total of the rental cost is 180.000 TL. and the rent will be paid at the end of the contract en 30.11.2000. Additionally, the company got the walls painted and the floor changed by a construction company. In return this service ABC company paid 36.000 TI. to the construction company $. In the store located in Gimat, the company set up a stand to advertise a baby bottle company's products for 1 year on 01.12.2019. In return to this advertisement service, 48.000 TL will be paid by baby bottle company at the end of the contract on 30.01.2020, 6. The transactions associated with the inventory have occurred during the year as in the table below But we ( C 30 Pa TAHSOP 10 All payments placed in the table ate made via banks You are required to a. Book the journal entries, only for the year of 2019. for cach transaction including the opening records in the general journal, Booking the records to the lodgers is not obligatory. However, it is strongly encouraged to book the recordinps to the ledgers so that you can track the numbers in a correct way. (45 Points) b. Book the inventory and closing records in the general journal on 31.12.2019. Booking the records so the ledgers is not obligatory. However, it is strongly encouraged to book the recordings to the ledgers so that you can track the numbers in a correct way. (45 Points) c. Prepare income statement of 2019 term on 31.12.2019. (10 Points) Note: The company uses FIFO inventory method under periodic inventory system. The company uses the straight line amortisation method with the indirect deduction. - VAT rate is 18 - Corporate tax rate is %22. Good Luck! wholesaler The following events took place in 2019. 1. ABC Company is founded by Okan Gkolu on 01.11.2019 with the equity of 10.000.000 TL This amount is paid by the partner at the same date 2. The company bought a sore at Gimat for 2.800.000 TL to use it as sales office on 01.11.2019. The cost of the store is paid from bank accounts. The useful life of the store is 30 years. At the same date, the company hired a constraction company to paint the walls and change the floor for 200.000 TL. The construction company completed all the tasks at the same date and was paid by ABC company via hanks 3. The company insured its store with the inventory for 1 year on 01.11.2019. The premium of the 1-year insurance plan is 240.000 TL and is paid by the company at the same daten 01.11.2020 4. In accordance with an investment plan, the company rented a store in Optimum AVM for 1 year on 01.12.2019 Total of the rental cost is 180.000 TL. and the rent will be paid at the end of the contract en 30.11.2000. Additionally, the company got the walls painted and the floor changed by a construction company. In return this service ABC company paid 36.000 TI. to the construction company $. In the store located in Gimat, the company set up a stand to advertise a baby bottle company's products for 1 year on 01.12.2019. In return to this advertisement service, 48.000 TL will be paid by baby bottle company at the end of the contract on 30.01.2020, 6. The transactions associated with the inventory have occurred during the year as in the table below But we ( C 30 Pa TAHSOP 10 All payments placed in the table ate made via banks You are required to a. Book the journal entries, only for the year of 2019. for cach transaction including the opening records in the general journal, Booking the records to the lodgers is not obligatory. However, it is strongly encouraged to book the recordinps to the ledgers so that you can track the numbers in a correct way. (45 Points) b. Book the inventory and closing records in the general journal on 31.12.2019. Booking the records so the ledgers is not obligatory. However, it is strongly encouraged to book the recordings to the ledgers so that you can track the numbers in a correct way. (45 Points) c. Prepare income statement of 2019 term on 31.12.2019. (10 Points) Note: The company uses FIFO inventory method under periodic inventory system. The company uses the straight line amortisation method with the indirect deduction. - VAT rate is 18 - Corporate tax rate is %22. Good Luck
