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School of Economics and Business, University of SarajevoSubject: Accounting
Task 1.Based on the balance of account of general ledger in joint- stock company AS on 01 January 2011 compile a balance sheet using functionality principle. The balances of account of general ledger on 01 January 2011:1. Equipment 120.0002. Land 65.0003. Prepaid income from rent for 2 years 28.0004. Inventories of final products (1.500 units per 30 KM) 45.0005.Small inventory in stock 6.0006. Accrued, unpaid electricity costs for XII/10 3.000
7. Accrued, unpaid telecommunication services costs for XII/10 1.1008. Shareholder's premium 13.0009. Bills of exchange 7.00010. Liabilities for tax 5.00011. Inventories of material 81.000
3.000 units mat a x 11 = 33.000 KM6.000 units mat b x 8 = 48.000 KM
12.Gyro account 330.00013. Petty cash 3.00014. Revaluation reserves 16.00015. Shareholder's equity 280.00016. Prepaid rental costs for 12 months (for 2011) 15.26017. Suppliers 30.00018. Prepaid insurance costs for 8 months (for 2011) 16.00019. Current investments in securities - shares of joint stock company XX (110 shares per 110 KM) 12.10020. Liabilities on long-term loans 28.00021. Construction buildings 150.00022. Inventories of spare parts 7.00023.Liabilities towards employees 15.00024. Short-term receivables based on credit sale 12.74025. Value correction of equipment 60.00026. Legal reserves 28.00027. Buyers 14.00028. Licenses 26.00029. Value correction of buildings 45.00030. Non-allocated profit (Loss from previous years) ?
During January 2011 next business events incurred which have to be entered in day-book and in general ledger.
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Note: Material have to be recorded at actual acquisition cost.1. For acquisition of material, advance payment was made to the supplier ALFA in the amount of KM 50.000, plus KM 8.500 of VAT. In accordance with the
invoice from supplier have been bought 3.000 units of material a with price 13KM per unit plus 17% of VAT and 4.000 units of material b with pr ice 12 KM per unit plus VAT 17%. The value rebate of 1,2% which is mentioned on the invoice is approved to us. The invoice was paid partly from advance payment and partlywith gyro account. We also received invoice for transport of material in the amount of KM 1.100 plus 17% of VAT and invoice for loading and unloading in theamount of KM 900 plus 17% of VAT. The invoices were settled from gyro account. Variable costs of acquisition have to be allocated by the quantity. Material wasstored.
2. The additional issue of shares is done. The joint- stock company AS issued and sold 3.000 regular shares at the name, whose nominal value is KM 12 per share. Allissued shares were paid in a way that we have got 38.000 KM in cash.
3. We acquired 12 pieces of trade good c of the same type at the price of KM 1.500 per piece. Invoice was received from supplier in the amount of KM 18.000 KM, plus 17% of VAT. Invoice was received from supplier for transport costs in the amount of KM 800, plus 17% of VAT and has been paid with gyro account. Invoicewas received for transport insurance in the amount of KM 1.000. Goods were received in the warehouse with 20% of price difference.
4. We have issued into production 4.000 units of material a and 8.000 units of material b. Consumption of material have to b e recorded using FIFO method.5. We sold to buyer - joint stock company BETA 500 units of final products with 45% of price difference and 17% of VAT and also half of inventories of goods from
warehouse plus 17% of VAT.6. We have given short term financial credit to the legal entity BN in the amount of KM 20.000 with the repayment period of one month with fixed interest of KM
200.7. We have bought another company for KM 30.000. In bookkeeping records that company had a building which we estimated KM 35.000, prepaid income from rent
for 4 months KM 3.000, liabilities for issued bills of exchange KM 3.000, inventories of spare parts KM 2.000, liabilities for profit tax KM 2.000, buyers KM 7.000and liabilities for long term credit KM 12.000.
8. The invoice for interest related to short term financial credit KM 200 plus 17% of VAT has been issued. Upon expiry of set date legal entity BN repaid credit o f KM 20.000 and also paid the interest together with VAT in the amount of KM 234.
9. We have bought small inventory for KM 3.000 and spare parts for KM 4.000 from the same supplier plus 17% of VAT. The invoice for transport is KM 450 plus17% of VAT and it is paid from gyro account. Small inventory and spare parts are put in the warehouse. After that half of total stock of small inventory has beenissued for use. Record write-off of small inventory using 50% indirect method. The spare parts that have been acquired used for fixing the machine. It was done byanother company and they issued us the invoice KM 350 plus 17% of VAT. Liabilities towards supplier for small inventory and spare parts has been paid by bills of exchange (conecction with the balance sheet).
10. We have issued into production 1.000 units of material a and same amount of material b. 11. It has been sold and collected 95 shares of joint stock company (JSC) XX with price KM 105 per share and for the same amount of money we bought 100 shares of
joint stock company YY. 12. The contract was concluded with contractors (Construction Company) about the construction of business building on our land. In accordance with the contract,
contractor received advance payment in the amount of KM 9.360. Invoice was received from contractor for advance payment in the amount of KM 8.000 plus 17%of VAT. First provisional transaction was received in the amount of KM 15.000 plus 17% of VAT and it were settled partly from advance payment and partly fromgyro account (advance payment was calculated and input tax was cancelled).
13. For the purpose of advertising we distributed 13 units of final products for future buyers, for which we have to calculate 17% of VAT. The annual advertisement of KM 200 plus 17% of VAT has been paid to the local TV station.
14. Record costs of salaries if gross salaries are KM 78.570 (from that amount, KM 38.000 refers to the management, sale and administration, the rest refers to production), taxes and contributions on salaries KM 32.070. All liabilities towards employees has been paid (take into account unpaid liabilities from previous period) from petty cash and taxes and contributions on salaries from gyro account.
15. The second provisional transaction was received for constructing the business building in the amount of KM 25.000 plus 17% of VAT which is paid from approvedlong term loan.
16. All liabilities towards supplier were settled from gyro account. In case of need take a short term loan.
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17. Calculate depreciation costs of equipment using functional method if we know that normal capacity of the equipment is 120.000 units and during January 2011 it was pro duced 1.000 units of product X. Depreciation of buildings calculate with flat rate on annual level of 1,5%. Annual rate for intangible assets is 10 %.
18. Inventory of material has been done and the actual balance is: 900 units of material a and 1.050 units of material b. Possible shortage record at the burden of legal entity with calculation of 17% of VAT. Permitted outage is 1,5%.
19. We received invoice for electricity (month XII/10) in the amount of KM 3.200 plus 17% of VAT so for current accounting period the calculated costs for electricityare KM 3.200. We also received invoice for telecommunication services (month XII/10) in the amount of KM 900 plus 17% of VAT and invoice for currentaccounting period ni the amount of KM 900 plus 17% of VAT.
20. Record revenues and expenses from the accounts of accrual for current period.21. Carry out the calculation of production (taking into account that non-production costs, related to management, sale and administration for current month are KM
45.000) an d storage of final products. It is produced 1.000 units of product X in total. The production price of the product is being calculated using pure divisionalcalculation. 50% of final products has been sold with 30% of price difference plus 17% of VAT. Balance all accounts related to VAT.
22. Compile trial balance.23. Calculate financial result. Profit tax is 10%.
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Balance sheet a joint-stock company AS on the day 01.01.2011. year
Assets Liabilities (Equity and Liabilities)No. Description Amount Amount No. Description Amount Amount
1.2.3.4.
5.6.
7.8.9.10.11.12.
13.14.
15.16.17.18.
I) FIXED ASSETSLicensesLandConstruction buildingsValue correction of buildings
EquipmentValue correction of equipment
II) CURRENT ASSETS
Inventories of materialSmall inventory in stock Inventories of spare partsInventories of final productsBuyersShort-term receivables based on creditsaleBills of exchangeCurrent investments in securities -sharesPrepaid insurance costs for 8 monthsPrepaid rental costs for 12 monthsGyro accountPetty cash
26.00065.000
150.000(45.000)
120.000(60.000)
81.0006.0007.000
45.00014.00012.740
7.00012.100
16.00015.260
330.0003.000
256.000
549.100
1.2.3.4.
5.
6.7.
8.9.10.11.
12.
I) EQUITYShareholder's equityShareholder's premiumRevaluation reservesLegal reserves
Non-allocated profit
II) LIABILITIES
LONG-TERM LIABILITIESLiabilities on long-term loansPrepaid income from rent for 2years
CURRENT LIABILITIESSuppliersLiabilities towards employeesLiabilities for taxAccrued, unpaid electricity costsfor XII/10Accrued, unpaidtelecommunication services costsfor XII/10
280.00013.00016.00028.000
358.000
28.00028.000
30.00015.000
5.0003.000
1.100
695.000
56.000
54.100
TOTAL ASSETS X X X 805.100 TOTAL LIABILITIES ( Equityand Liabilities)
X X X 805.100
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Book entry in day-book:
Day book for January 2010. Page No. 1.
No Date Description CallTURNOVER
PAYABLE RECEIVABLE
Ac. ASSETSAc. LIABILITIES
For opening balance in line with balance sheet
910.100910.10
1a. Ac. Advances for acquisition of materialAc. Receivable for input tax on given advances
Ac. Gyro accountRecording of advance payment
50.0008.500
58.50
1b. Ac. Calculation of acquisition costsAc. Receivable for input tax
Ac. SuppliersFor received invoice for material
85.95614.612
100.56
1c. Ac. SuppliersAc. Receivable for input tax on given
advancesAc. Advances for acquisition of material
Ac. Gyro accountPayment of liabilities towards suppliers
100.5688.50
50.0042.06
1d. Ac. Calculation of acquisition costsAc. Receivable for input tax
Ac. SuppliersFor received invoice for transport services
1.100187
1.28
1e. Ac. Calculation of acquisition costsAc. Receivable for input tax
Ac. SuppliersFor received invoice for unloading
900153
1.05
1f. Ac. SuppliersAc. Gyro account
For settlement of invoices for transport and unloading
2.3402.34
1g. Ac. Inventories of materialAc. Calculation of acquisition costs
Storage of acquired material
87.95687.95
2. Ac. Gyro accountAc. Shareholder's equity
Ac. Shareholder's premium
For sale and collection of shares
38.00036.00
2.00
3a. Ac. Calculation of acquisition costsAc. Receivable for input tax
Ac. SuppliersInvoice for supplier for goods
18.0003.060
21.06
Sum of page 1 1.321.432 1.321.432Transfer from previous page - - -Transfer to the following page 2 1.321.432 1.321.432
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3b. Ac. Calculation of acquisition costsAc. Receivable for input tax
Ac. SuppliersInvoice for supplier for transport
800136
9
3c. Ac. SuppliersAc. Gyro account
For settlement of invoices for transport
9369
3d. Ac. Calculation of acquisition costsAc. Suppliers
Invoice for supplier for insurance
1.0001.00
3e. Ac. Goods in warehouseAc. Calculation of acquisition costs
Ac. Calculated price differenceStorage of acquired goods
23.76019.80
3.96
4. Ac.Costs of material (Consumption of material)Ac. Inventories of material
For issue material into production
118.413118.41
5a. Ac. Costs of sold productsAc. Inventories of final products
For dispensing product inventories
15.00015.00
5b. Ac. BuyersAc. Revenues from sale of products
Ac. Liabilities for VATFor sold products
25.44821.75
3.69
5c. Ac. BuyersAc. Revenues from sale of goods
Ac. Liabilities for VATFor sold goods or for selling value of goods
13.90011.88
2.02
5d. Ac. Acquisition costs of sold goodsAc. Goods in warehouse
For dispensing the warehouse
11.88011.88
5e. Ac. Calculated price differenceAc. Acquisition costs of sold goods
For realized 50% of price difference
1.9801.98
6. Ac. Extended short-term credits (loans)Ac.Gyro account
For extended short-term credit
20.00020.00
Sum of page 2 233.253 233.253Transfer from previous page 1 1.321.432 1.321.432
Transfer to the following page 3 1.554.685 1.554.685
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7. Ac. Construction buildingsAc. Inventories of spare partsAc. BuyersAc. Goodwill
Ac. Liabilities on long-term loansAc. Prepaid income from rent for 4 months
Ac. Liabilities for taxAc. Liabilities for issued bills of exchange
Ac. Gyro accountFor buying the company
35.0002.0007.0006.000
12.003.002.003.00
30.00
8a. Ac. Receivable for accrued interests and VATAc. Revenues from interests
Ac. Liabilities for VATFor invoice was issued for the interest
23420
8b. Ac. Gyro accountAc. Extended short-term credits (loans)
Ac. Receivable for accrued interestsand VAT
For repaid credit and paid interests with VAT
20.23420.00
2
9a. Ac. Calculation of acquisition costsAc. Receivable for input tax
Ac. SuppliersFor acquisition small inventory and spare parts
7.0001.190
8.19
9b. Ac. Calculation of acquisition costsAc. Receivable for input tax
Ac. SuppliersInvoice for supplier for transport
45077
5
9c. Ac. SuppliersAc. Gyro account
For settlement of invoices for transport
5275
9d. Ac. Small inventory in stock Ac. Inventories of spare parts
Ac. Calculation of acquisition costsFor storage
3.1944.256
7.45
9e. Ac. Small inventory in useAc. Small inventory in stock
For the issue of 50% inventories
4.5974.59
9f. Ac. Costs of small inventoryAc. Value correction of small inventory
For 50% write-off indirect method
2.2982.29
9g. Ac. Costs of spare partsAc. Inventories of spare parts
For consumption of spare parts
4.2564.25
Sum of page 3 98.313 98.313Transfer from previous page 2 1.554.685 1.554.685Transfer to the following page 4 1.652.998 1.652.998
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9h. Ac. Costs of servicesAc. Receivable for input tax
Ac. SuppliersFor service repairs
35060
4
9i. Ac. SuppliersAc. Bills of exchange
Ac. Other revenuesFor settlement of invoices
8.1907.001.19
10. Ac.Costs of material (Consumption of material)Ac. Inventories of material
For issue material into production
25.27225.27
11a. Ac. Gyro accountAc. Expenses/Losses from sale of shares
Ac. Current investments in securities - sharesFor selling of shares
9.975475
10.45
11b. Ac. Current investments in securities - sharesAc. Gyro account
For buying of shares
9.975
9.9712a. Ac. Advances for construction buildings
Ac. Gyro accountFor advance payment from own funds
9.3609.36
12b. Ac. Advances for construction buildingsAc. Receivable for input taxFor received invoice for advance payment
(1.360)1.360
12c. Ac.Investment in progress Construction buildingsAc. Receivable for input tax
Ac. SuppliersFor received first provisional situation
15.0002.550
17.55
12d. Ac. SuppliersAc. Receivable for input tax
Ac. Advances for construction buildingsAc. Gyro account
For settled first provisional situation
17.550(1.360)
8.008.19
13a. Ac. Advertising costsAc. Liabilities for VAT
Ac. Inventories of final productsFor distribution products
456
39
13b. Ac. Prepaid advertising costs for 12 monthsAc. Receivable for input tax
Ac. Gyro accountFor the paid annual advertising
20034
2
Sum of page 4 98.087 98.087Transfer from previous page 3 1.652.998 1.652.998Transfer to the following page 5 1.751.085 1.751.085
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14a. Ac. Costs of employees (production)Ac. Costs of employees (management, sale andadministration)
Ac. Liabilities towards employeesAc. Liabilities for income tax and
contributions on salariesFro callculated salaries
40.570
38.00046.5032.07
41b. Ac. Petty cashAc. Provisional gyro account
Cash withdrawal and payment in petty cash
58.50058.50
14c. Ac. Provisional gyro accountAc. Liabilities for income tax andcontributions on salaries
Ac. Gyro accountFor settled liabilities
58.50032.070
90.57
14d. Ac. Liabilities towards employeesAc. Petty cash
Fro settled liabilities towards employees
61.50061.50
15a. Ac.Investment in progress Construction buildingsAc. Receivable for input tax
Ac. SuppliersFor received second provisional situation
25.0004.250
29.25
15b. Ac. SuppliersAc. Liabilities on long-term loans
For settled invoice
29.25029.25
16. Ac. SuppliersAc. Gyro account
For settled total liabilities towards suppliers
52.47052.47
17. Ac. Depreciation costsAc. Value correction of construction buildings
Ac. Value correction of equipment Ac. Value correction of licenses
For callculated depreciation
1.40518
1.002
18a. Ac. Other expenses ShortagesAc. Costs of material for outage, ullage, defect
Ac. Inventories of materialAc. Liabilities for VAT
For calculation shortage
496889
1.31
18b. Ac. Inventories of materialAc. Surpluses Other revenues
For calculation surpluses
60760
Sum of page 5 374.237 374.237Transfer from previous page 4 1.751.085 1.751.085Transfer to the following page 6 2.125.322 2.125.322
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19a. Ac. Accrued, unpaid electricity costs for XII/10Ac. Receivable for input taxAc. Other expenses
Ac. SuppliersFor received invoice for XII/10.
3.000
544200
3.7419b. Ac. Costs of energy (Consumed energy)
Ac. Accrued, unpaid electricity costs for I/11.For calculation costs of energy
3.2003.20
19c. Ac. Accrued, unpaid telecommunicationservices costs for XII/10Ac. Receivable for input tax
Ac. SuppliersAc. Other revenues
For received invoice for XII/10.
1.100
1531.05
20
19d. Ac. Costs of telecommunication servicesAc. Receivable for input tax
Ac. SuppliersFor costs of current period
900153
1.05
20a. Ac. Prepaid income from rent for 2 yearsAc. Prepaid income from rent for 4 months
Ac. Revenues/Income from rentFor accruals (adjustment) of income for accounting period
1.167
750 1.91
20b. Ac. Insurance costsAc. Prepaid insurance costs for 8 months
For accruals (adjustment) of costs for accounting period
2.0002.00
20c. Ac. Advertising costsAc. Prepaid advertising costs for 12 months
For accruals (adjustment) of costs for accounting period
17
20d. Ac. Rental costsAc. Prepaid rental costs for 12 months
For accruals (adjustment) of costs for accounting period
1.2721.27
21a. Ac. Costs of management and saleAc. Allocation of costs in calculation of
business resultFor transfer costs of management and sale
45.00045.00
21b. Ac. Production in progressAc. Allocation of costs for calculation of
productsTransfer of product costs
194.298194.29
Sum of page 6 253.754 253.754Transfer from previous page 5 2.125.322 2.125.322Transfer to the following page 7 2.379.076 2.379.076
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21c. Ac.Inventories of final productsAc. Production in progress
For the transfer to inventories
194.298194.29
21d. Ac. BuyersAc. Revenues from sale of products
Ac. Liabilities for VATFor selling products
147.744126.29
21.45
21e. Ac. Costs of sold productsAc. Inventories of final products
For dispensing product inventories
97.14997.14
21f. Ac. Liabilities for VATAc. Receivable for input tax
Settlement of VAT
27.15927.15
23a Ac. Revenues from sale of productsAc. Revenues from sale of goodsAc. Revenues/Income from rentAc. Surpluses Other revenuesAc. Other revenuesAc. Revenues from interests
Ac. Difference of revenues andexpensesTransfer of revenues
148.04411.880
1.917607
1.390200
164.03
23b Ac. Difference of revenues and expensesAc. Costs of sold products
Ac. Acquisition costs of sold goodsAc. Costs of management and sale
Ac. Other expenses ShortagesAc. Expenses/Losses from sale of shares
Ac. Other expensesTransfer of expenses
168.220112.14
9.9045.00
49420
23c Ac. LossAc. Difference of revenues and expenses
Transfer of difference of expenses over revenues
4.1824.18
Sum of page 7 802.790 802.790Transfer from previous page 6 2.379.076 2.379.076Transfer to the following page 8 3.181.866 3.181.866
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Book entry in the accounts of general ledger:
D Licenses C D Equipment C DValue correction of
equipment Bal 26.000 Bal 120.000 60.000 Bal
1.000 (17) 26.000 120.000 61.000
DConstruction
buildings C D
Advances for construction buildings C D Goodwill C
Bal 150.000(7) 35.000
(12a) 9.360(12c) (1.360)
8.000 (12d) (7) 6.000
185.000 8.000 8.000 6.000
D Land C DValue correction of
buildings C D
Investment in progress Construction
buildings Bal 65.000 45.000 Bal
188 (17)(12c) 15.000(15a) 25.000
65.000 45.188 40.000
DValue correction
of licenses C217 (17) 217
DInventories of
material C DSmall inventory in
stock C DInventories of spare
parts Bal 81.000
(1g) 87.956(18b) 607
118.413 (4)25.272 (10)1.313 (18a)
Bal 6.000(19d) 3.194
4.597 (9e) Bal 7.000(7) 2.000
(9d) 4.256
4.256 (9g)
169.563 144.998 9.194 4.597 13.256 4.256
DGoods in
warehouse C DCalculated price
difference C DInventories of final
products (3e) 23.760 11.880(5d) (5e) 1.980 3.960 (3e) Bal 45.000
(21c)194.29815.000 (5a)390 (13a)97.149 (21e)
23.760 11.880 1.980 3.960 239.298 112.539
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D Buyers C D
Short-termreceivables based
on credit sale C DCurrent investmentsin securities - shares
Bal 14.000(5b) 25.448(5c) 13.900
(7) 7.000(21d) 147.744
Bal 12.740 Bal 12.100(11b) 9.975
10.450 (11a)
208.092 12.740 22.075 10.450
D Bills of exchange C D Gyro account C D Petty cash CBal 7.000 7.000 (9i) Bal 330.000
(2) 38.000(8b) 20.234(11a) 9.975
58.500 (1a)42.068 (1c)2.340 (1f)936 (3c)20.000 (6)30.000 (7)527 (9c)9.975 (11b)9.360 (12a)8.190 (12d)234 (13b)90.570 (14c)52.470 (16)
Bal 3.000(14b) 58.500
61.500 (14d)
7.000 7.000 398.209 325.170 61.500 61.500
D
Calculation of acquisition costs -
material C D
Advances for acquisition of
material C D
Calculation of acquisition costs -
goods (1b) 85.956
(1d) 1.100(1e) 900
87.956 (1g) (1a) 50.000 50.000 (1d) (3a) 18.000(3b) 800
(3d) 1.000
19.800 (3e)
87.956 87.956 50.000 50.000 19.800 19.800
DSmall inventory
in use C DProduction in
progress C DValue correction of
small inventory (9e) 4.597 (21b) 194.298 194.298 (21c) 2.298 (9f)
4.597 194.298 194.298 2.298
D
Prepaid insurancecosts for 8
months C D
Prepaid advertisingcosts for 12
months C DPrepaid rental costs
for 12 months Bal 16.000 2.000 (20c) (13b) 200 17 (20d) Bal 15.260 1.272 (20e)
16.000 2.000 200 17 15.260 1.272
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DReceivable for
input tax C D
Receivable for accrued interests
and VAT C DCalculation of
acquisition costs C(1b) 14.612
(1d) 187(1e) 153
(3a) 3.060(3b) 136
(9a) 1.190(9b) 77(9h) 60
(12b) 1.360(12c) 2.550
(12d) (1.360)(13b) 34
(15a) 4.250(19a) 544(19c) 153(19d) 153
27.159 (21f) (8a) 234 234 (8b) (9a) 7.000(9b) 450
7.450 (9d)
27.159 27.159 234 234 7.450 7.450
D
Receivable for input tax on given
advances C DExtended short-
term credits (loans) C DProvisional gyro
account (1a) 8.500 8.500 (1c) (6) 20.000 20.000 (8b) (14c) 58.500 58.500 (14b)
8.500 8.500 20.000 20.000 58.500 58.500
DShareholder's
equity C DShareholder's
premium C DRevaluation
reserves 280.000 Bal36.000 (2)
13.000 Bal2.000 (2)
16.000 Bal
316.000 15.000 16.000
D Legal reserves C D Non-allocated
profit C D Loss 28.000 Bal 358.000 Bal (23c) 4.182 28.000 358.000 4.182
D
Prepaid incomefrom rent for 2
years C DLiabilities on long-
term loans C D
Prepaid incomefrom rent for 4
months (20a) 1.167 28.000 Bal 28.000 Bal
12.000 (7)29.250 (15c)
(20b) 750 3.000 (7)
1.167 28.000 69.250 750 3.000
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D
Liabilitiestowards
employees C DAccrued, unpaidelectricity costs C
(14b) 61.500 15.000 Bal46.500(14a)
(19a) 3.000 3.000 Bal3.200 (19b)
61.500 61.500 3.000 6.200
D
Accrued, unpaidtelecommunication
services costs C D
Liabilities for income tax andcontributions on
salaries C D Liabilities for tax C(19c) 1.100 1.100 Bal (14b) 32.070 32.070 (14a) 5.000 Bal
2.000 (7) 1.100 1.100 32.070 32.070 7.000
D
Liabilities for issued bills of
exchange C D Liabilities for VAT C D Suppliers C3.000 (7) (21f) 27.159 3.698 (5b)
2.020 (5c)34 (8a)66 (13a)72 (18a)21.450 (21d)
(1c) 100.568(1f) 2.340
(3c)936(9c) 527
(9i) 8.190(12d) 17.550(15c) 29.250(16) 52.470
30.000 Bal100.568 (1b)1.287 (1d)1.053 (1e)21.060 (3a)936 (3b)1.000 (3d)8.190 (9a)527 (9b)410 (19h)17.550 (12c)29.250 (15a)3.744 (19a)1.053 (19c)1.053 (19d)
3.000 27.159 27.340 211. 831 217. 681
D
Costs of material(Consumption of
material) C D Depreciation costs C DCosts of small
inventory (4) 118.413(10) 25.272
(17) 1.405 (9f) 2.298
143.685 1.405 2.298
D Advertising costs C DCosts of spare
parts C D Costs of services C(13a) 456(20d) 17
(9g) 4.256 (9h) 350
473 4.256 350
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D
Costs of energy(Consumed
energy) C D
Costs of telecommunication
services C D Insurance costs C(19b) 3.200 (19d) 900 (20c) 2.000
3.200 900 2.000
D Rental costs C D
Costs of employees
(production) C D
Costs of employees(management, saleand administration) C
(20e) 1.272 (14a) 40.570 (14a) 38.000 1.272 40.570 38.000
D
Allocation of costsin calculation of business result C D
Costs of materialfor outage, ullage,
defect C D
Allocation of costsfor calculation of
products 45.000(21a) (18a) 889 194.298 (21b 45.000 889 194.298
D
Costs of management and
sale C DCosts of sold
products C DAcquisition costs of
sold goods (21a) 45.000 45.000 (23b) (15a) 15.000
(21e) 97.149112.149 (23b) (5d) 11.880 1.980 (5e)
9.900 (23b)
45.000 45.000 112.149 112.149 11.880 11.880
D Other expenses C DExpenses/Losses
from sale of shares C DOther expenses
Shortages (19a) 200 200 (23b) (11a) 475 475 (23b) (18a) 496 496 (23b)
200 200 475 475 496 496
D Other revenues C DRevenues fromsale of goods C D
Revenues from saleof products
(23a) 1.390 1.190 (9i)200 (19c)
(23a) 11.880 11.880 (5c) (23a) 148.044 21.750 (5b)126.294 (21d)
1.390 1.390 11.880 11.880 148.044 148.044
DRevenues/Income
from rent C DSurpluses Other
revenues C DRevenues from
interests
(23a) 1.917 1.917 (20b) (23a) 607 607 (18b) (23a) 200 200 (8a) 1.917 1.917 607 607 200 200
DDifference of revenues
and expenses C(23b) 168.220 164.038 (23a)
4.182 (23c) 168.220 168.220
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Auxiliary operations:
1. Calculation of acquisition of material
3.000 units mat. ''a'' x 13,00 KM/unit = 39.000KM - 468 KM = 38.532 KM + 6.550 KM(VAT) = 45.082 KM4.000 units mat. ''b'' x 12,00 KM/unit = 48.000KM 576 KM = 47.424 KM + 8.062KM(VAT) = 55.486 KM
Allocation of variable costs of acquisition on the basis of quantity :Variable acquisition costs = 2.000 KM
3.000 kom.4.000 kom. % = 2.000 = 0,28571427.000 kom. 7.000
Variable acquisition costs for mat. ''a'' 3.000 units x 0,285 .............. = 857 KMVariable acquisition costs for mat. ''b'' 4.000 units x 0,285 .............. = 1.143 KM
2.000 KM
Actual acquisition cost (Value) for mat a = 38.532 + 857 = 39.389 KMActual acquisition cost (Value) for mat b = 47.424 + 1.143 = 48.567 KM*actual acquisition price - AAP
39.389AAP/units ''a'' = = 13,129666 KM/unit
3.000
48.567AAP/units ''b'' = = 12,14175 KM/unit
4.000
2. Issue of share :
3.000 units x 12 KM/units = 36.000 KM38.000 KM
2.000 KM Shareholder's premium3. Acquisition of goods:
12 units x 1.500 KM/unit = 18.000 KM+Variable acquisition costs = 1.800 KMAcquisition value = 19.800 KM+20% Price difference = 3.960 KM
Selling price without VAT = 23.760 KM
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5. Sale of final products:
500 units x 30 KM/unit = 15.000 KM+45% Price difference = 6.750 KMSelling price without VAT = 21.750 KM+17% VAT = 3.698 KMSelling price with VAT = 25.448 KM
Sale of goods:23.760 x 50% = 11.880 KM+17% VAT = 2.020 KMSelling price with VAT = 13.900 KM
Calculated price difference 3.960 x 50% = 1.980 KM
9. Small inventory and spare parts:
Allocation of variable costs of acquisition on the basis of value:3.000 KM4.000 KM % = _450 = 0,06437.000 KM 7.000
Variable acquisition costs for small inventory 3.000 KM x 0,0643 = 194 KMVariable acquisition costs for spare parts 4.000 KM x 0,0643 = 256 KM
450 KM
11. Selling price (value) shares XX: 95 units x 105 KM/units = 9.975 KMCarrying amount: 95 units x 110 KM/units = 10.450 KMExpenses/Losses from sale of shares 475 KM
Buying of shares YY 100 units x 99,75 KM/units = 9.975 KM
13. Calculation for distribution of final products:
13 kom x 30 KM/kom = 390 KMPDV 17% 66 KM
456 KM17. Calculation depreciation:Equipment: (1.000 kom/120.000 kom) x 120.000 KM = 1.000 KMConstruction buildings : (150.000 KM x 1,5)/1.200 188 KM Licenses : (26.000 KM x 10)/1200 217 KM
18.Calculation Outage:
Shortage = 1.313 KM- Permitted outage (59.260x1,5%) = 889 KMUnpermitted outage (above prescribed) = 424 KM+17% VAT = 72 KMShortage with VAT (other expenses) = 496 KM
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20. Calculating of revenues and expenses related to accruals:
ADI accruals and deferred incomeRent (2 years) 28.000 KM / 24 months = 1.167 KM/monthRent (4 months) 3.000 KM / 4 months= 750 KM/month
PAI prepayments and accrued incomeInsurance (8 months) 16.000 KM/8 months = 2.000 KM/monthsAdvertising (12 months) 200 KM/12 months = 17 KM/monthsRent (12 months) 15.260 KM/12 months = 1.272 KM/months
21. Pure divisional calculation:
Total costs: 239.298 KM- Costs of management, sale
and administration: 45.000 KMCosts of production: 194.298 KM
Number of units produced 1.000 unitsCost per unit of final product = 194.298 KM/1.000 units = 194,298 KM/unit
Sale of final products:194.298 KM x 50% = 97.149 KM
+ 30% Price difference = 29.145 KMSelling price without VAT = 126.294 KM+ 17% VAT = 21.450 KM
Selling price with VAT = 147.744 KM
FI FO method
Sub-ledger account of material a
No.Date Description Quantity Price Value
Input Output Balance Payable Receivable Balance1.2.3.4.5.6.
Openin balanceAcquiredConsumption 4000 units
Consumption 1.000 unitsInventory - shortage
3.0003.000
----
--
3.0001.0001.000
100
3.0006.0003.0002.0001.000
900
1113,12971113,129713,129713,1297
33.00039.389
----
--
33.00013.13013.130
1.313
33.00072.38939.38926.25913.12911.816
Sub-ledger account of material b
No Date Description Quantity Price Value
Input Output Balance Payable Receivable Balance1.2.3.4.5.6.
Openin balanceAcquiredConsumption 8.000 units
Consumption 1.000unitsInventory - Surpluse
6.0004.000
---
50
--
6.0002.0001.000
-
6.00010.000
4.0002.0001.0001.050
812,1418812,141812,141812,1418
48.00048.567
---
607
--
48.00024.28312.142
-
48.0096.5648.5624.2812.1412.74
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22.Company AS Trial balance
Description Balance payable Balance receivableLicensesConstruction buildingsEquipmentLandGoodwill Investment in progress Construction
buildings Inventories of materialSmall inventory in stock Inventories of spare partsInventories of final productsBuyersShort-term receivables based on credit sale
Current investments in securities sharesPrepaid insurance costs for 7 monthsPrepaid rental costs for 11 months Gyro accountGoods in warehouse Small inventory in use Prepaid advertising costs for 11 months
Costs of material (Consumption of material) Costs of spare parts Costs of small inventory Depreciation costsCosts of employees (production)Costs of employees (management, sale andadministration)Costs of energy (Consumed energy) Insurance costsAdvertising costsCosts of telecommunication services Costs of servicesRental costsCosts of material for outage, ullage, defect
Costs of sold productsAcquisition costs of sold goodsCosts of management and saleOther expenses ShortagesExpenses/Losses from sale of sharesOther expenses
Allocation of costs in calculation of
26.000185.000120.000
65.0006.000
40.000
24.5654.5979.000
126.759208.092
12.740
11.62514.00013.98873.03911.880
4.597183
143.685
4.2562.2981.405
40.57038.000
3.2002.000
473900350
1.272889
112.1499.900
45.000496475200
45.000
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business result Allocation of costs for calculation of
products Value correction of licensesValue correction of buildings Value correction of equipmentCalculated price difference Value correction of small inventory Suppliers Accrued, unpaid electricity costs Liabilities for issued bills of exchangeLiabilities for tax Liabilities for VATPrepaid income from rent for 3months Prepaid income from rent for 23monthsLiabilities on long-term loans Shareholder's equityShareholder's premium Revaluation reservesLegal reserves
Non-allocated profit Revenues from sale of productsRevenues from sale of goodsRevenues/Income from rentSurpluses Other revenuesOther revenuesRevenues from interests
194.298
21745.18861.000
1.9802.2985.8503.2003.000
7.000181
2.250
26.833
69.250316.000
15.00016.00028.000
358.000148.044
11.8801.917
607200
1.390
Total 1.364.583 1.364.583