Task 1 accounting računovodstvo

7/28/2019 Task 1 accounting raunovodstvo

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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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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


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



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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



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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


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20d. Ac. Rental costsAc. Prepaid rental costs for 12 months


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



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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



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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

Documents

Task 1 accounting računovodstvo