Practice 1 Financial Accounting
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ScribdTranslationsPractice 1 Financial Accounting
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ScribdTranslations1 the company la nueva reforma, S.A. de C.V.
is created with the following operations
Member A 1,000,000.00 with check
Socio B 500,000.00 with merchandise
Socio C 200,000.00 with furniture
2 Goods are purchased for 200,000.00, paying 80,000.00 by check, the difference is
owes
3 The rent for the premises for the current month is paid, amounting to 15,000.00, 40% of
the space is occupied by the sales department and the rest by the department of
administration
4 A van is purchased for merchandise distribution for 175,000.00 paid by check.
70% of the difference remains owed
5 Goods are purchased for 80,000.00, a document is signed for three months.
6 Goods are sold for 110,000.00, 60% sign a document, the remaining we
They owe them, the cost of the merchandise is 70,000.00
7
The telephone, electricity, and gas services will be paid by check for 20,000.00, 65%.
it corresponds to the sales department and the rest to the administration department
8 Goods are sold for 90,000.00 which are paid to us with a check, the cost of the
merchandise is 50,000.00
9 The bank grants us a loan for which we sign a promissory note of 150,000.00 at 6
months the bank credits our checking account 142,000.00, the difference is
interests
10
The bank charges us 150.00 to the bank account for commissions.
11 The bank transfers 100.00 to our account as interest.
It is requested
a- record in journal entries and ledger schemes
b- Prepare the income statement and the balance sheet
MUST NEWS
1
BANKS 1,000,000.00
WAREHOUSE 500,000.00
MOB AND OFFICE EQUIPMENT 200,000.00
Social Capital 1,700,000.00
2
WAREHOUSE 200,000.00
BANKS 80,000.00
SUPPLIERS 120,000.00
3
ADMINISTRATIVE EXPENSES 9,000.00
Sales Expenses 6,000.00
BANKS 15,000.00
4
TRANSPORT EQ 175,000.00
BANKS 122,500.00
Diverse Creditors 52,500.00
5
WAREHOUSE 80,000.00
BILL TO BE PAID 80,000.00
6
DOC TO BE COLLECTED 66,000.00
CLIENTS 44,000.00
SALES 110,000.00
6A
COST OF SALES 70,000.00
WAREHOUSE 70,000.00
7
ADMINISTRATION EXPENSES 7,000.00
Sales Expenses 13,000.00
BANKS 20,000.00
8
BANKS 90,000.00
SALES 90,000.00
8A
COST OF SALES 50,000.00
WAREHOUSE 50,000.00
9
9
BANKS 142,000.00
INTERESTS PAID IN ADVANCE 8,000.00
DOC TO BE PAID 150,000.00
10
FINANCIAL EXPENSES 150.00
BANKS 150.00
11
BANKS 100.00
FINANCIAL PRODUCTS 100.00
BANKS WAREHOUSE
11,000,000.00 80,000.002 1,500,000.00 70,000.006A
8 90,000.00 15,000.003 2,200,000.00 50,000.008A
9 142,000.00 122,500.004 5 80,000.00
11 100.00 20,000.007 780,000.00
150.0010 SF660,000.00
1,232,100.00 237,650.00
SF 994,450.00
SOCIAL CAPITAL SUPPLIERS
1,700,000.001 120,000.00 2
- 1,700,000.00 - 120,000.00
1,700,000.00 SF 120,000.00 SF
ADMINISTRATION EXPENSES SELLING EXPENSES
3 9,000.00 3 6,000.00
7 7,000.00 7 13,000.00
16,000.00 - 19,000.00 -
SF 16,000.00 SF 19,000.00
DOCUMENT BY
DOCUMENT TO BE PAID
COLLECT
80,000.005 6 66,000.00
150,000.009 66,000.00 -
- 230,000.00 SF 66,000.00
230,000.00SF
SALES SELLING EXPENSES
110,000.006 6A 70,000.00
90,000.008 8A 50,000.00
- 200,000.00 120,000.00 -
200,000.00 SF SF120,000.00
FINANCIAL EXPENSES FINANCIAL PRODUCTS
10 150.00 100.0011
150.00 - - 100.00
SF 150.00 100.00SF
MOB AND EQ OFFICE
1,200,000.00
200,000.00 -
SF200,000.00
EQ TRANSPORT
4175,000.00
175,000.00 -
SF175,000.00
Various creditors
52,500.004
- 52,500.00
52,500.00 square feet
CLIENTS
6 44,000.00
44,000.00 -
SF 44,000.00
INT PAGE FOR ADVANCE
9 8,000.00
8,000.00 -
SF 8,000.00
THE NEW REFORM, S.A. DE C.V.
COMPREHENSIVE INCOME STATEMENT
SALES 200,000.00
LESS COST OF SALES 120,000.00
SAME GROSS PROFIT 80,000.00
LESS GENERAL EXPENSES
SALE 19,000.00
ADMINISTRATION 16,000.00
35,000.00
SAME Profit after expenses 45,000.00
MORE FINANCIAL PRODUCTS 100.00
LESS FINANCIAL EXPENSES 150.00 50.00
NET INCOME 44,950.00
I prepare REVIEW I authorize
THE NEW REFORM, S.A DE C.V
BALANCE SHEET
ACTIVE PASSIVE
CIRCULATING SHORT TERM
BANKS 994,450.00 SUPPLIERS 120,000.00
CLIENTS 44,000.00 DOC TO PAY 230,000.00
DOCUMENTS TO BE COLLECTED 66,000.00 Various creditors 52,500.00
STORAGE 660,000.00
INT PAGE FOR ADVANCE 8,000.00
TOTAL CURRENT LIABILITIES
TOTAL CURRENT ASSETS 1,772,450.00 402,500.00
Deadline
FIXED Equity
MOB AND EQ OFFICE 200,000.00 SOCIAL CAPITAL 1,700,000.00
TRANSPORT EQUIPMENT 175,000.00 USEFULNESS OF EXERCISE 44,950.00
