Question

cerning indirect taxes (VAT) as of 31/12/19 1) The Candidate has to register the above operations using the double-entry bookkeeping system a) A credit of 4,000 euro is depreciated by 50%. Record the double-entry writing and the epilogue, b) There is a provision to T.F.R. fund for 15.000 euro. Record the double-entry writing and the epilogo c) The Alfa company is currently carrying out a dispute concerning indirect taxes (VAT) as of 1 for which it is considering to make a cautions provision of € 6.000 against a possible future o the event of unfavorable decisions by tax commissions. d) At the end of the year company X registers the depreciation of machinery quota for 3.000 euro, e) firm X have rented a logistic area on IM October for six-months, fee is 12.000 euro payable ix-months, fee is 12.000 euro payable later, at the end of the period by bank transfer: firm X leases out a logistie area on Ist September for six months. fee is 3.600 euro payable later, the end of the period by bank transfer; g) firm X leases out a machinery on 1 November for eight-months, fee is 24.000 euro, payment is advance by bank transfer; h) firm X have rented a machinery on IstAugust for nine-months, fee is 27.000 euro, payment is advance by bank transfer, * remember the VAT is 22% 2) The Candidate builds the Statement of Financial Position of Beta Group Corp. for the accounting period January-31" December, by including the followings items: Property, plant and equipment € 69,000; Long-term borrowings € 20,000; Share capital € 37,000; Cash € 5,000; Short-term borrowings € 6,500; Goodwill € 19,500; Trade and other payables € 22,000; Deferred tax € 12,000; Trade receivables € 11,000; Current tax payable € 3,500; Other intangible € 2,000; Retained earnings € 23,500; Inventories € 18,000.

1,2

Answer 1

Beta Group Corp. Statement of Financial Position December 31
Assets
Cash	5,000
Trade Receivables	11,000
Inventories	18,000
Property Plant and Equipment	69,000
Goodwill	19,500
Other Intangibles	2,000
Total Assets	124,500
Liabilities and Shareholders Equity
Trade and other payables	22,000
Current Tax Payable	3,500
Short Term Borrowings	6,500
Long Term Borrowings	20,000
Deferred Tax Liability	12,000
Share Capital	37,000
Retained Earnings	23,500
Total Liabilities and Shareholders Equity	124,500