Bilancio double-entry bookkeeping, Esercizi di Finanza

Scarica Bilancio double-entry bookkeeping e più Esercizi in PDF di Finanza solo su Docsity! DOUBLE-ENTRY BOOKKEEPING COMPLETE EXERCISE Entity “X”, the 1° of January 2017, after the initial input of capital 20.000 by the owner (1) (half in cash and half in the bank account) undertakes the following transactions: - (2) Borrows 14.000 from the bank (cash received) - (3) Buysa office: 6.000 (half bank account and half payables) = (4) Buys goods: 4.000 (using cash) - (5) Sells goods: 10.000 (7.500 on credit, 2.500 cash) - (6) Annual insurance premium of 120 paid in advance (1 October 2017- 1 October 2018) = (7) Wages 1.750 paid using bank account - (8) Store rented for a year, star i gthf 1° of November; annual expense 240 (payment postponed) - (9) Payables related to sesto are paid using bank account Record transactions using the “T” accounts system. Adjustment at the end of 2017: «insurance prepayment/rent accrual - Interest on the loan 700 (accrual) - inventory 1.900 - building deprecianeoo = taxes provision 800 Prepare the following financial statements at the 31 December 2017: income statement, balance sheet. Open the “T” accounts (in the balance sheet) the d of January 2018 and settle 2017 adjustments. Record the following 2018 transactions: - (0) Interests 2017 on the loan are paid (700) using bank account - (1) Buys goods: 6.000 (payables) - (2) Taxes 2017 paid using bank account - (3) Sells goods: 15.000 (5.000 on credit, 10.000 cash) - (4) Annual insurance premium of d20 paid in advance (1 October 2018- 1 October 2019) - (5) Wages 4.000 paid using - (6) Annual store rent expense of 240 paid using cash referring to transaction of 2017 - (7) Receivables not paid for 300 (lost credits) Adjustment at the end of 2018: «insurance prepayment - Interest on the loan 700 (accrual) - inventory 2.000 - building depreciation 780 600 - doubtful debts 200 Prepare the following financial statements at the 31 December 2018: income statement, balance sheet.