Basics of Accounting
BSF, Univ. of Economics in Wrocław

Lecturer:

dr Wojciech Hasik

Case no. 8.

Y Company (toys producer) reports the following balances of chosen assets and equities:
Intangibles

4 000,-

Tangible fixed assets

320 000,-

Fixed assets in assembly

10 000,-

Cash at bank

95 000,-

Cash at vault

25 000,-

Trade receivables

25 000,-

Trade payables

20 000,-

Bank loan

100 000,-

Equity

250 000,-

VAT liabilities

5 000,-

Raw materials

40 000,-

Finished goods

60 000,-

Your task is to:

1.

open the ledger accounts (representing all balances of assets and equities)

2.

perform the accounting entries of above transactions and close the ledger accounts afterwards

1.

fixed assets depreciation for current period

4 000,-

2.

intangibles amortization for current period

500-

3.

materials were disposed for production purposes

200,-

4.

Invoice VAT from supplier SPS S.A. for purchased coal:

a)

net value

300,-

b)

VAT 22%

66,-

c)

total

366,-

5.

Coal was delivered

300,-

6.

Mrs. Kowalska has taken the advance for refreshing beverages for employers

1 000,-

7.

Recipe – Mrs. Kowalska submitted the recipe confirming full utilization of advance 1 000,-

8.

Coal was disposed for production purposes

300,-

9.

Payroll for November – gross amounts

2 500,-

10.

Invoice VAT from MPO S.A. for trash recycling:

a)

net

200,-

b)

VAT 22%

44,-

c)

total

244,-

11.

Invoice VAT from Budex Sp.z o.o. for construction works regarding constructed warehouse:

a)

net

1 500,-

b)

VAT 22%

330,-

c)

total

1 830,-

12.

Mr. Nowak has taken advance for his business trip

300,-

13.

Mr. Nowak’s business trip costs settlement (recipes submitted)

320,-

14.

Mr. Nowak was paid the difference between advance and actual costs

……..?

Basics of Accounting
BSF, Univ. of Economics in Wrocław

Lecturer:

dr Wojciech Hasik

Case no. 9. (home assignment)

Your task is to:

1.

perform the accounting entries of above transactions

15.

Invoice VAT from supplier Kanto Ltd. for purchased sand:

a)

net value (3 tons @200)

600,-

b)

transport

300,-

c)

VAT 22%

63,-

d)

total

963,-

16.

Sand from Kanto Ltd was delivered (delivery measured at purchasing price)

…….

17.

Sand delivery was settled:

a)

accounting for transport costs

b)

VAT treatment (possible in the moment of invoice submitting)

18.

Sand was disposed from the warehouse

400,-

19.

Invoice VAT from Kama S.A. for the rent of the warehouse :

a)

net

3.000,-

b)

VAT 22%

660,-

c)

total

3.660,-

20.

Settlement of rent costs

………

21.

Invoice VAT from Maintanex Sp.z o.o. for reparation of a production machine:

a)

net

5 000,-

b)

VAT 22%

1 100,-

c)

total

6 100,-

22.

Settlement of machine reparation costs

………

23.

Invoice VAT from Vauxhall Ltd. for 2 lorries:

a)

net value

105 000,-

b)

VAT 22%

23 100,-

c)

total

128 100,-

24.

Lorries were delivered

………

25.

Invoice VAT from PKP Cargo for lorries transportation :

a)

net value

10 000,-

b)

VAT 22%

2 200,-

c)

total

12 200,-

26.

Lorries drawn into FA register

………

COSTS BY TYPE or BY KIND

a) Depreciation

b) Consumption of materials and energy

c) External services

d) Taxes and fees

e) Wages and salaries

f) Social insurance and other benefits

g) Other