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1. Based on the following transactions made by the Company during its first fiscal period

• Collection of cash Euro 1 Million from stockholders
• Purchase of Equipment for Euro 0.8 Million out of which 0.4 Million paid in cash and the balance on account.
• Purchase of supplies for Euro 3 Million paid for Euro 2.8 Million on cash and for Euro 0.2 Million on account
• Sale of half of inventory for Euro 3.5 Million receiving Euro 3 Million in cash and 0.5 Million on account
• Overheads expenses paid for Euro 0.6 Million out of which Euro 0.1 Million are prepaid.
• Paid wages for Euro 0.6 Million and recognized accrued wages for Euro 0.1 Million
• Depreciation on fixed assets are estimated for Euro 0.2 Million
• Corporation tax for Euro 0.15 Million totally paid.

What are the social & fiscal debts at the closing date?

Options de la question 5 :

	0.6 Million
	0.85 Million
	0.15 Million
	0.1 Million

2. May Department Stores is a company headquartered in St. Louis. Its balance sheet, as of December 31, 2008 contains (in disorder) the following items ( in millions):

Long-term debt 4,035

Cash (a)

Total shareholders equity (b)

Total liabilities (c)

Contributed capital 144

Inventories 2,857

Accounts payable 1,099

Property, plant and equipment 5,466

Additional shareholders equity 3,891

Other assets 3,592

Other liabilities 2,767

Total assets 11,936

Should you prepare a condensed balance sheet, what would be the amount of Cash ?

Options de la question 6 :

	21
	3613
	2878
	None of the above

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