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  3. 1. babboo industries is a company that is doing on

1. Babboo Industries is a company that is doing on resale of toys. So it...

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Accounting

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1. Babboo Industries is a company that is doing on resale of toys. So it is decided to open a representation in our state. So below are the data you need for further operations. Day 1. Established a company with authorized capital 350000AZN. Day.2 Rented an office with monthly fee 2000AZN. Day 3. Hired employees: Salaries - 14000AZN. Day 8. Purchased 1000 units kid toys by the price 70 AZN per unit. Day 10. Obtained a small truck for transportation needs 9000AZN. Day 12. Purchased additionally 800 units of kid toys by the price 100AZN per unit and 1200 dolls by the price 150AZN per unit. Day 16. By the decision of procurement and sales departments additionally purchased 1200 units of kid toys by the price 90AZN per unit and 800 dolls by the price 120AZN per unit. Day 20. The company realized 2000 units of kid toys and 1500 units of dolls with 65% trade surcharge. Day 24. The company received bill for utilities 1200AZN. Required: a) Prepare journal entries ( 7 points) b) Prepare Income statement from the results of transactions (5 points) c) Prepare Balance sheet (5 points)

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