60.1K

Verified Solution

Question

Accounting

Task 1
Calculate the initial value of capital in an Ltd. (limited liability) company, if
net profit of the previous year was 160,000 it has fixed assets of 800,000 at
its disposal (machinery 500,000 and vehicles 300,000), but the properties are
partly depreciated (machinery depreciation is 100,000 while vehicles 150,000).
The entity owns 120,000 worth of finished goods in a warehouse as well as nonfinished
goods worth 40,000. The company is behind in payment of contributions
to the National Health Service and to the Tax Office by a total of 16,000.
The company took a bank loan in the value of 300,000, and it has 10,000 in its
bank account.
Task 2
Explain which of the business events below not economic operations are:
5) payment of ZUS contributions by the employer,
6) contract with client to built a warehouse,
7) selling the finished goods VAT invoice has been issued,
8) sending an offer of products to clients,
10) product packaging costs incurred,
11) cost of product transport to clients incurred
12) release of goods from stock

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students